What is Open Lock EA?
The Open Lock EA is an Expert Advisor designed to mitigate drawdowns by locking and averaging losing trades. It splits losing trades into smaller parts, making it easier to close them incrementally and reduce account risk. The EA also integrates with other EAs, disabling them when certain drawdown thresholds are reached to ensure safety.
Key Takeaways:
- Purpose: Mitigates drawdown and manages losing trades.
- Mechanism: Uses order locking, partial closures, and averaging.
- Compatibility: Works with other Expert Advisors.
- Customization: Highly customizable settings.
- Usability: For traders with existing losing trades.
Key Features:
- Drawdown Mitigation: Reduces account drawdown.
- Order Locking: Prevents further losses.
- Partial Closures: Reduces load on the deposit.
- Averaging Orders: Covers losses with small lot orders.
- Customizable Parameters: Tailors to different trading styles.
- Risk Management: Stops other EAs during high drawdowns.
Open Lock EA Setting & Recommendations:
- Platform: MT4
- Currency Pairs: EURUSD & GBPUSD
- TimeFrame: Not specified
- Minimum Account Balance: Not specified
- Preset: Default settings recommended
- VPS: Recommended for 24/7 operation
- Broker: Low spread, low slippage
![Open Lock EA Setting](https://mqlshop.com/wp-content/uploads/2024/07/Open-Lock-EA-setting-2.gif)
Open Lock EA Review:
The Open Lock EA effectively reduces drawdowns and manages risk by locking and averaging trades. Its integration with other EAs and customizable settings make it a versatile tool for traders. While initial setup is required, its performance in protecting investments and optimizing strategies is highly valued by users.
![Open Lock EA Review](https://mqlshop.com/wp-content/uploads/2024/07/Open-Lock-EA-review.jpg)
Open Lock EA MT4 Download:
- Link download expert: Open Lock EA MT4 .ex4
Download link, Installation guide (if any) will be sent immediately via email after your purchase, or you can directly download it from the website, under the section: My account -> Download.
Payment:
- Payment Options: PayPal, credit card, USDT TRC20, Binance Pay
Risk Warning:
- Forex trading is highly risky and can lead to the total loss of your investment; use Forex EAs cautiously and they cannot replace your trading decisions.
- Past performance is not a guarantee of future profits.
- Always test EAs on a demo account before applying them to a live account.
Reviews
There are no reviews yet.