Forex Envy is the latest ea to become fashionable in the forex community. One of the main reasons for its popularity is simply because it employs a martin gale type strategy. Martingale trading strategies operate well in fx trading for the simple reason that forex pairs tend to trade within ranges, not like equities forex pairs can in no way go to zero either. Personally I am a huge admirer of martingale techniques for use in currency trading and of course this one of several factors that the forex envy expert advisor has become so prevalent.
Obviously given the leverage that?s required when using forex envy it is going to only work with a few fx brokers. In order for the expert advisor performs properly you have to use a leverage of 1:500, for some this may sound a little bit excessive however when you actually understand the logic behind this ea you will realize why 1:500 leverage is vital.
The good news regarding the forex envy expert advisor is that it doesn?t involve scalping or high-frequency forex trading techniques which are generally unreliable in real trading conditions where slippage, re-quotes, latency can occur that is why it works on nearly all fx broker platforms. However after much testing I have found that this interesting ea works best on IC Markets True ECN forex trading platform. One of the reasons why the performance of this EA during my testing phase worked much better on ICMarkets True ECN trading account was due to the fact that the forex envy expert advisor was able to deal in huge lot sizes with modest slippage or trade latency.
I have been running the forex envy robot on IC Markets True ECN forex account for three months now with exceptionally good results. My returns have averaged 8% per week which is outstanding. Like any intelligent currency trader I also assess my trades closely, the average latency on my trades over the last 3 months averages 120 milli seconds, slippage is almost nonexistent. All in all I?m pretty thrilled with the forex envy robot and particularly its profitability on IC Markets True ECN forex account.
Obviously the forex envy ea does have its downsides also, one of these downsides is the fact that the expert advisors demands a relatively large capital base this is especially the case if the broker that you opt for does not provide micro lot trading, luckily my forex broker ICMarkets does permit micro lot forex trading on its ECN trading accounts.
So if you?re in the market for an excellent robot that is moneymaking regardless of market circumstances you really should not let the forex envy ea pass by. My forex broker IC Markets is extremely familiar with this expert advisor as they deal with most of the people that have bought this ea, this gave me a massive benefit as they were in a position to assist me with adjustments within the expert advisor, several of which required detailed fine tuning so as to maximize the performance of the ea.
You must also do your own research concerning which fx broker performs best however from the investigation that I?ve personally performed IC Markets beats all others hands down regarding maximizing the performance of the forex envy expert advisor. You should also read an IC Markets review to make sure that this broker is the correct selection for you.
Source: http://www.financecareer.co/finance/forex-envy-ea-makes-money-on-ic-markets-true-ecn
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