HFT PROP EA by Manpreet Singh, is a High Frequency Trading system designed to enter trades using stop orders during trending market conditions. In this review, we will explore its features, trading strategy, benefits, and considerations for potential users.
HFT Prop EA Review
Specifically, this EA is tailored for the US30 pair, focusing on the opening of the New York session and capitalizing on its trending behavior for a short duration of 15-30 minutes. This EA can also be applied to other currency pairs that exhibit similar trending characteristics. Nova Funding is suggested as a preferred prop firm for using this EA. The EA is designed to work with brokers providing spreads in pips, and some input values like Take Profit (TP), Stop Loss (SL), and Offset may have decimal values.
HFT Pro EA is available as an MT4/MT5 version. There are real-time performance monitoring, and customization options, making it suitable for traders interested in quick, intraday trades.
Trading Strategy
The primary trading strategy of the HFT PROP EA is to capitalize on the initial 15-30 minutes of the US30 pair’s trading session, focusing on the opening of the New York session when significant price movements are expected. The EA utilizes stop orders to enter trades during this brief window of opportunity. It is important to note that the EA is primarily intended for high-frequency trading, where positions are opened and closed rapidly.
Pros:
- High-Frequency Trading Potential: The HFT PROP EA is tailored for high-frequency trading, allowing users to capitalize on short-term market movements and potentially generate quick profits.
- Real-Time Performance Monitoring: The inclusion of a live working example enables users to observe the EA’s performance in real-time, enhancing transparency and trust in the system.
- Customization Options: Users have the flexibility to adjust settings such as Breakeven and trailing settings, enabling them to fine-tune the EA to their specific trading preferences and risk tolerance.
- Preferred Pair Selection: While optimized for US30, the EA can also be applied to other pairs like US100, US500, DAX30/40, providing traders with choices for diversifying their trading portfolio.
Cons:
- VPS Requirement: To achieve optimal performance, a VPS with a ping rate of less than 1ms is recommended. This additional cost and technical requirement may deter some traders.
- Broker Limitations: Many brokers have restrictions on high-frequency trading EAs, and some may even ban accounts or EAs employing such strategies. Traders should be cautious and check their broker’s policies before using this EA.
- Time Sensitivity: The EA’s strategy relies on a narrow window of 15-30 minutes after the US30 market opening. Traders must be available and attentive during this period, which can be demanding and inconvenient for some.
- Pip vs. Point Spreads: Depending on the broker, US30 spreads may be quoted in pips or points. Users may need to adjust settings if the EA does not initiate trades initially, adding complexity to setup and the potential for errors.
Conclusion
HFT PROP EA offers a high-frequency trading solution tailored for the US30 pair during specific market conditions. Its real-time performance example and customization options make it an intriguing option for traders. However, users should carefully consider the VPS requirement, broker limitations, and time sensitivity before implementing this EA into their trading strategy.