Introduction
When it comes to trading robots, skepticism is almost second nature. The Trailing Stop Loss And Breakeven MT5 robot has garnered some mixed reviews, with users both praising and criticizing it. Let's dissect this tool's efficacy based on its features, user feedback, and performance over the past year.Description of Functions
Trailing Stop Loss And Breakeven MT5 is designed to manage risk by automatically adjusting stop-loss levels and break-even points. Some of its key features include:- Auto Stop-Loss Adjustment: The robot dynamically adjusts stop-loss levels as the trade moves in favor.
- Break-Even Functionality: Once a trade reaches a pre-defined profit level, the robot shifts the stop-loss to the break-even point to ensure no loss.
- Compatibility: Works with various types of orders including market, limit, and stop orders.
- Customization: Allows traders to tweak settings to fit their trading strategies.
However, user feedback suggests that the robot’s functionality might not be as robust as it sounds on paper.
Analysis of Results
The most telling data is the robot’s performance over the last year. According to available statistics on their website, the robot has had mixed success.- Profitability: The robot shows fluctuating monthly returns with some months in profit and others in loss.
- Drawdown: The drawdown levels have been relatively high at times, indicating risk exposure.
- Consistency: Inconsistent performance suggests that the robot might require constant tweaks and adjustments to be effective.
Pros and Cons
Pros:- Automation: Takes the manual effort out of adjusting stop-loss and breakeven levels.
- Customization: Offers various settings for personalized trading.
Cons:
- Inconsistent Performance: User feedback and statistics indicate variable returns.
- Compatibility Issues: Not all order types are seamlessly handled, as pointed out by user Shaheed_01.
- User Experience: Some users find it lacks basic features like hidden options.
Source Code for Trailing Stop Loss And Breakeven MT5
The original source code for the Trailing Stop Loss And Breakeven MT5 robot is proprietary and not publicly available. However, if you're curious or capable of writing your own, you can find the algorithm description on its MQL5 marketplace page.For those interested, our team at EASY Trading Team has created a code based on the available descriptions. This is a custom implementation and not the original code. Feel free to ask questions on our forum at easytradingforum.com if you have any queries about the code.
Code:
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