Introduction
Welcome to the no-frills guide on the AW Recovery EA MT5 trading robot. A tool that some apparently find to be a marvel of automation, provided you have just the right settings for your favorite pair. This guide will take you through the process of installing, configuring, and tailoring this expert advisor to suit your trading style and objectives. Along the way, I'll also impart some skeptical and yet, constructive insight on using the bot effectively. Remember, this EA, like any other, is not a silver bullet, so use it with caution.Installation and Setup
Installation of AW Recovery EA MT5 is pretty straightforward. Just save the bot file into the Experts directory of your MT5 platform. Once you've done that, run the MT5 platform, navigate to the Navigator tab on the left, expand the Experts Advisors section, and you will find the AW Recovery EA MT5 listed there. Drag it onto the chart of any instrument you wish to trade.One of the users, daveudon, voices gleefully about pulling down $100/day in a set-and-forget manner after figuring out the best settings for XAUUSD M15. However, even the most exuberant users of AW Recovery EA MT5 suggest tweaking and tuning this robot to your preference. The exact settings can be found in the EA's Properties section, including parameters like Magic Number, Recovery Factor, and Max Spread.
Experience Using the EA
From the reviews, it seems like many users have an overwhelmingly positive experience with this EA. However, in the world of trading, there’s always a risk of possible DrawDowns, so it's recommended to keep a watchful eye on this. Some users stop recovery at 30% DD, as a risk management measure. Remember, proper risk management should always be the cornerstone of any trading strategy, automated or not. Our Japanese friend hiroakimorisima also suggests having substantial capital when using this bot, considering the Martingale strategy it employs.Tips for Improvement
The AW Recovery EA MT5 can be a handy tool, provided you have a solid understanding of its underlying principles and approach. Fine-tuning the parameters to align with market conditions and your risk tolerance levels is crucial. Keep in mind that no EA is foolproof. Be prepared for losses and ensure you have a risk management strategy in place before letting this machine take control.AW Recovery EA MT5 Source Code - The untold
And now, we get to the intrigue. We don’t have the actual source code of the original AW Recovery EA MT5 sold on MQL5. What we do have, however, is a version of the code based on the description from the MQL5 website. If you have questions about it, feel free to ask, bearing in mind this is simply a mimic of the robot, created by EASY Trading Team, and not the actual one.
Code:
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