What Type of Forex Trading Strategy Software Is GearBox?
- GearBox uses a Grid-based strategy.
- Although most Grid-based products fail during significant market movements, this is where GearBox can shine.
- Based on data, you can " choose your Gear Entry" and wait until a Long Trend is ending to Enter Right before a Pullback.
- So the strategy can be a bit different based on settings.
- It is a Counter Trend Trader, but you can Ghost Trade the Trend (Where you would have gotten into drawdown) Then Enter Trades in the Real Market before the Pullback or Retracement.
Which Currency Pairs Can GearBox Work With?
- GearBox can work with any currency pair with the proper settings.
- We have historical data and GearBox entry choices on the 25 pairs below.
- The seven green pairs are the Major Forex Pairs and are great options for GearBox on the Foreign exchange market.
- Due to GearBox design, any currency pair can work if you understand the average range that currency pair moves before a retracement! With that knowledge, you can design some great setups.
Should GearBox Forex EA Be Used with Multiple Pairs?
- With this software, you can scan all currency pairs you want to for entries. Still, also you can set a " Maximum Pairs Trading at Once" to guarantee you never over-leverage your account by entering too many different Currency Pair Setups at once.
- Depending on your balance and risk, your max you might trade simultaneously at once could be anywhere from 1-6 pairs trading.
What Is the Goal of GearBox Forex Trading Software Software?
- The goal of the forex trading software is to catch a solid amount of pips on every trade, with low lot exposure on the total account.
- Large lot sizes are not needed to experience account growth due to the amount of pips GearBox can secure on trades with customizable TP settings.
How Long Should GearBox Be Used per Week?
- This expert advisor software with Swing and especially Sniper Strategy can run all week 24/5 if a customer chooses to do so!
- All of that is End-User Choice.
What Time Frame Is Best to Use with GearBox?
When Should GearBox Be Turned On?
- The forex trading software will begin analyzing and entering Ghost Trades 2 hours after the Market opens.
- Two hours after Market Open is when the spread usually gets lower on most brokers.
When Should GearBox Be Turned Off?
- The forex trading software can be turned off by the user at their discretion but can run and analyze 24/5 with proper settings.
What Are the Best Trading Sessions for Optimal Performance Using GearBox?
- All sessions are suitable for this strategy, although the London Session is where GearBox tends to find its best entries.
What Is the Minimum Balance for the Best Result on GearBox?
- $250 can work
- $500 is better
- $1000+ is ideal
What Is the Normal Anticipated Amount of Drawdown to Expect Then Using GearBox?
- The average drawdown is all based around your settings but ideally, $250 -$500 account; max will want to see 50%
- $1000 ideally max you'd want to see 30%
- On larger accounts, 15% is max ideally comfort level-wise you'd like to see
- With conservative enough settings, 5-10% could be very realistic for larger accounts
Which Days of the Week Are Best for GearBox?
- Every day that the Forex market is Open
Should GearBox Be Used over the Weekend?
- You can hold trades over the weekend, yes, but GearBox, by default, will delete any Ghost Trades that are not open in the Real Market on the weekends.
- If you have open profitable trades on Friday before the market close, it is final user discretion whether you want to take your profits off the table or not.
What is the recommended leverage for Gearbox?
The Recommended leverage for Gearbox is 1:500.
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