Forex Envy is the latest expert advisor to become popular in the currency trading 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 between ranges, unlike stocks currency pairs can in no way go to zero either. Personally I am a big fan of martingale systems for use in currency trading and naturally this one of several reasons that the forex envy expert advisor is becoming so prevalent.
Needless to say given the leverage that's required when using forex envy it's going to only operate with certain brokers. In order for the expert advisor runs properly you must use a leverage of 1:500, for some this may sound a little excessive however when you actually understand the logic behind this expert advisor you'll understand why 1:500 leverage is imperative.
The good news about the forex envy ea is that it doesn't involve scalping or high-frequency fx trading strategies that are normally unreliable in real trading conditions where slippage, re-quotes, latency can occur for this reason it performs well on the majority of forex provider platforms. However after a good deal of testing I've discovered that this interesting ea functions best on IC Markets True ECN fx trading platform. One of several reasons why the performance of this EA through my testing phase worked a lot better on ICMarkets True ECN forex account was due to the fact that the forex envy robot was able to trade huge lot sizes with little slippage or trade execution speeds.
I have been running the forex envy robot on IC Markets True ECN account for 3 months now with exceptionally good results. My returns have averaged 8% per week which is outstanding. Like every astute currency trader I also assess my deals closely, the average execution speeds on my deals over the past 3 months averages 120 milli seconds, slippage is nearly nonexistent. All in all I am very pleased with the forex envy robot and particularly its profitability on IC Markets True ECN account.
Naturally the forex envy expert advisor does have its downsides also, one of these downsides is the fact that the robot calls for a relatively large capital base this is particularly the case if the forex broker that you go for doesn't offer micro lot trading, fortunately my broker ICMarkets does permit micro lot trading on its ECN accounts.
So if you're in the marketplace for an effective expert advisor that is profitable regardless of marketplace circumstances you really shouldn't let the forex envy expert advisor pass by. My forex provider IC Markets is quite knowledgeable about this robot as they deal with most of the traders who have bought this ea, this gave me a massive gain as they were able to assist me with settings within the ea, a few of which required detailed fine tuning so as to maximize the performance of the expert advisor.
Needless to say given the leverage that's required when using forex envy it's going to only operate with certain brokers. In order for the expert advisor runs properly you must use a leverage of 1:500, for some this may sound a little excessive however when you actually understand the logic behind this expert advisor you'll understand why 1:500 leverage is imperative.
The good news about the forex envy ea is that it doesn't involve scalping or high-frequency fx trading strategies that are normally unreliable in real trading conditions where slippage, re-quotes, latency can occur for this reason it performs well on the majority of forex provider platforms. However after a good deal of testing I've discovered that this interesting ea functions best on IC Markets True ECN fx trading platform. One of several reasons why the performance of this EA through my testing phase worked a lot better on ICMarkets True ECN forex account was due to the fact that the forex envy robot was able to trade huge lot sizes with little slippage or trade execution speeds.
I have been running the forex envy robot on IC Markets True ECN account for 3 months now with exceptionally good results. My returns have averaged 8% per week which is outstanding. Like every astute currency trader I also assess my deals closely, the average execution speeds on my deals over the past 3 months averages 120 milli seconds, slippage is nearly nonexistent. All in all I am very pleased with the forex envy robot and particularly its profitability on IC Markets True ECN account.
Naturally the forex envy expert advisor does have its downsides also, one of these downsides is the fact that the robot calls for a relatively large capital base this is particularly the case if the forex broker that you go for doesn't offer micro lot trading, fortunately my broker ICMarkets does permit micro lot trading on its ECN accounts.
So if you're in the marketplace for an effective expert advisor that is profitable regardless of marketplace circumstances you really shouldn't let the forex envy expert advisor pass by. My forex provider IC Markets is quite knowledgeable about this robot as they deal with most of the traders who have bought this ea, this gave me a massive gain as they were able to assist me with settings within the ea, a few of which required detailed fine tuning so as to maximize the performance of the expert advisor.
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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.
Very informative posting, thanks for sharing. I have been doing some research on ECN forex trading and came across this post. I think it is a very good way to do forex trading these days.
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Naturally the forex envy expert advisor does have its downsides also, one of these downsides is the fact that the robot calls for a relatively large capital base this is particularly the case if the forex broker that you go for doesn't offer micro lot trading, fortunately my broker ICMarkets does permit micro lot trading on its ECN accounts.
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what a load of bullshit. Martingale works beautifully, blowing up your account so the bucket shop broker can pocket your money
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