Manhattan PRO Best MT4 Robot operates on the Martingale principle, which involves increasing the trade size after a loss to recover previous losses and gain a profit. This method can significantly amplify both risk and profitability. However, it's important to understand the distinction between the Martingale principle as a money management system and the actual trading system that decides market entries and exits.
Trading System
The trading system is the set of rules that the advisor follows to make decisions on entering and exiting trades. Manhattan PRO EA distinguishes itself from classic grid systems by its approach:- Impulse-Based Entries: The EA identifies strong market movements (powerful impulses) and opens trades in the opposite direction.
- Trend Following Mode: A new feature allows the EA to enter trades in the direction of the trend, rather than against it.
- Averaging Positions: If the take profit (TP) is not reached, the EA averages the position by increasing the lot size, but only by a factor of up to 1.5, which varies depending on the pair's volatility.
- Hedging Capability: The advisor can work in both directions simultaneously, providing a hedging mechanism.
- Signal-Based Entries: Instead of building a grid, the EA waits for a unique candlestick pattern signal before entering trades.
- Dynamic Step Function: The StepPips setting controls the minimum distance between orders. The DynamicStep function increases this distance proportionally with the number of open orders.
Key Features
- No Classic Grid: The EA does not continuously open trades but waits for specific entry signals.
- Candlestick Patterns: Uses unique candlestick patterns to determine trade entries.
- Variable Lot Sizes: Adjusts lot sizes based on trade outcomes and market volatility.
- Dynamic Order Spacing: Increases the minimum distance between orders as more orders are opened to manage risk.
Recommendations
- Minimum Account Balance: $3000 or equivalent Cent account balance.
- Best Currency Pairs: EURUSD, AUDUSD (though it can work on any pair).
- Optimal Timeframe: M5 (though it can work on any timeframe).
- Operational Requirements: For stable performance, run Manhattan PRO Best MT4 Robot 24/7 on a VPS with low latency.
- Account Type: A low spread ECN account is highly recommended for optimal performance.