FireStorm Prop Firm Scalper EA V5 Overview:
- Name: FireStorm Prop Firm Scalper EA V5
- Type: Fully automated Grid Hedging Expert Advisor
- Currency Pair: Primarily optimized for XAUUSD (GOLD), but adaptable to other pairs and indices like US30 and NAS100.
- Account Types: Compatible with both Regular Broker Accounts and Cent Accounts.
- Minimum Account Size:
- Cent Account: $100
- Regular Account: $500 to $1000 (with any broker of your choice)
- Also suitable for Funded Accounts like FTMO or MyForexFunds.
Key Features:
- Flexible Settings:
- Comes with set files for quick setup, making it accessible even for beginners.
- Four ways to use the bot:
- Base lot with incremental size (can use martingale or fixed lot).
- Auto-schedule option.
- Specific take profit and stop loss levels.
- Equity protector (useful for funded accounts).
- News Filter Option:
- When enabled, the EA closes all trades just before any High Impact News is released.
- MT4 Compatibility:
- Runs exclusively on MetaTrader 4 (MT4).
- No VPS required, but recommended for uninterrupted trading.
- Constant Updates:
- Regular updates to stay up-to-date with the latest trading trends and market conditions.
Trading Strategy:
- Grid Hedging Strategy:
- FireStorm Prop Firm Scalper EA V5 employs a grid-based approach.
- It dynamically adjusts position sizes based on market movements.
- The base lot can be increased incrementally, allowing flexibility in risk management.
- Can use either martingale or a fixed lot approach.
Recommended Settings:
- Account Balance:
- Minimum Cent account balance: $100 (equivalent to a standard account).
- Ideal for XAUUSD (GOLD) trading.
- Works best on the H1 timeframe (but adaptable to any timeframe).
- Consider running it 24/7 on a reliable VPS for stable results.
- Opt for a low spread ECN account for optimal performance.
