MetaTrader4
Maximize Your Profits with Elite eFibo Trader for MetaTrader 4
Unlock Your Trading Potential with Elite eFibo Trader MT4
If you're looking to take your trading game to the next level, the Elite eFibo Trader is a must-have tool for your MetaTrader 4 platform. Unlike a fully automated system, this Expert Advisor is designed to assist you in making informed trading decisions while handling the execution automatically. Think of it as your trading sidekick—helping you capitalize on your market bias, whether you're bullish or bearish on a currency.
Imagine you believe the dollar is on the rise. With eFibo Trader, you can significantly boost your profits by optimizing your lot size while keeping your risk exposure limited to just a few pips. You even get to set your own risk limits, giving you complete control over your trading strategy.
eFibo Trader shines in trending markets, allowing you to toggle between buying or selling as needed. Let’s take the EUR/USD as an example:
If you were to simply buy the EUR/USD without the eFibo Trader, you might snag a gain of around 200 pips from the move. But with eFibo Trader in your corner, you could potentially rack up over 2000 pips—all while risking just the spread. How does that work? It’s all about smart positioning—you increase your trade size as you move into profit and adjust your stop loss accordingly. The goal is to trade with profits only, which is the essence of the eFibo Trader philosophy. The concept of Fibonacci isn’t new; it ties back to well-known principles like the Golden Ratio. eFibo Trader automates this strategy, minimizing the chance for error that can occur with manual execution, and it works seamlessly with any MetaTrader broker.
How to Get Started with eFibo Trader
The eFibo Trader operates by buying or selling any currency pair using a Fibonacci-based money management system. The default Fibonacci levels are adjustable, so feel free to tweak them to fit your strategy.
Here’s the basic idea:
In a trending market, you want to increase your position size as you move into profit. This means increasing your risk in line with your gains. At the same time, you’ll want to have some protective measures in place to avoid significant losses on larger positions.
Take this scenario: if USD/CHF is trending downwards, eFibo will initiate sales of x lots once the pair drops by a specified number of pips to enter the first Fibonacci level. As the market continues to move in your favor, eFibo will sell more according to the Fibonacci levels: 1, 2, 3, 5, 8, and so on. The beauty is that you can customize these levels as per your trading style.
Key Settings for eFibo
Open_Buy: Enable this to allow the strategy to buy only.
Open_Sell: Enable this to allow the strategy to sell only.
LevelDistance: Sets the pips distance between each new buy/sell order. For example, if set to 20, a new order will be generated every 20 pips.
StopLoss: This is the stop loss for each trade. If triggered, it will close all existing positions.
MoneyTakeProfit: This specifies the dollar amount of profit to take. For example, if set to $2,000, all positions will close when the total profit from all trades reaches or exceeds $2,000.
Lots_Level_1: This is the initial lot size for buy/sell orders. You can modify these values, but using Fibonacci levels is recommended.
Remember, eFibo is a money management system, not a signal system or indicator-driven tool. It simplifies your trading approach by focusing on trend-following to maximize profits.
When to Use eFibo Trader:
When you identify a trend forming in any currency pair, across any time frame.
When you have a clear bias on a particular currency.
When NOT to Use eFibo:
In sideways or ranging markets.
When you're uncertain about market direction.
Ready to give eFibo Trader a shot? You can download it along with the user manual at:
www.eesfx.com. If you’re looking to open a demo or live account with an MT4 broker, head over to www.eliteeservices.net and click on 'Open an Account.'
2008.03.27
