What Is Neo the Legend Forex Trading Software?
What Pairs does Neo the Legend Trades?
What Is the Minimum Recommended Leverage for Neo the Legend?
How Much Drawdown Is Anticipated for Neo the Legend?
What Are the Best Trading Sessions for Optimal Performance Using Neo the Legend?
Why Neo the Legend Trades During the Last 2 Hours of the NY Session?
What Are the Best and Worst Market Conditions to Use Neo the Legend?
What Time Frame Can I Use While Running Neo the Legend?
What Is the Goal of Neo the Legend Forex Trading Software?
Can I Run Neo the Legend on Both Mode 1 and Mode 2 at the Same Time?
What Type of Risk Management Features Does Neo the Legend Have?
What is the Difference Between Neo the Legend Mode 1 and Mode 2?
What Type of Strategy Does Neo the Legend Use?
How Many Trades Will Neo The Legend Take?
Can I control my risk with Alfred?
How is Alfred beneficial to you?
Who should use Alfred in their trading plans?
What type of management strategies does Alfred have?
When was the Alfred Trade Manager system developed?
Is Alfred a set and forget Forex Trading Manager?
What Is Neo the Legend Forex Trading Software?
Neo the Legend
- Neo the Legend is a trading system that wraps complexity within a very easy-to-use interface. Its unique approach to the markets is designed to target stable and consistent growth. The simplicity behind Neo’s setup process allows anyone, from a newbie to the markets to an experienced investor to set up a custom portfolio that fits around their risk profile.
Some of the advantages that Neo offers are:
- A Crew standing by Neo: Since Neo is a professional grade system, it has an actual crew behind it, working constantly for improving the tech and providing an excellent user experience.
- Robustness and stability: Neo specializes in producing long-term profits and not short-term candies! It has proven profitable every single year since 2008 using MetaQuotes data feed, and since 2006 using high-quality tick data, according to our extensive back-testing.
- Advanced self-adapting systems: Neo implements a self-adapting system that allows it to adjust the entire strategy as the market evolves.
- Different trading approaches into one system: Neo offers 2 trading modes, a low trade frequency, high stability approach to the markets, which is called Mode 1, and a higher trade frequency, more aggressive approach to the markets, which is called Mode 2. You can use one, or even both at the same time to build your portfolio exactly as you want.
- Low maintenance: Since Neo packs a very complex and unique system into an extremely easy-to-use interface, it requires very little time allocation to manage it. Ranging from a few minutes to under an hour per week.
- Single software or portfolio set up: Neo comes from a professional grade fund management environment, which makes it the ideal candidate either for a person that’s looking to get into algorithmic trading with only one system or for a person that’s an experienced investor who is managing a portfolio of other strategies.
- Low starting balance: Neo allows a starting balance from $500 USD. Keep in mind that for a lower risk, you will require a larger minimum balance. This is because of the minimum trade volume, for example, if a user has a $100 USD account and trades at 0.01 lots, another user with $1,000 USD would trade at 0.10 lots to keep the positions proportional. However, if the $1,000 USD user trades at 0.01 lots, the $100 USD user can’t replicate the same risk level since no positions under 0.01 lots are allowed on most brokers.
What Pairs does Neo the Legend Trades?
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When it comes to trading, it’s always best to do one thing and excel on it rather than a lot of things but in a mediocre way. This thought process is why Neo currently only trades on one pair: GBP/CAD. We are already developing other supported pairs, so this will most likely change into the future as we keep developing Neo.
What Is the Minimum Recommended Leverage for Neo the Legend?
- Since Neo is an advanced trading system that’s designed for long-term growth, it requires very little leverage to run properly. According to the extensive testing we’ve done, Neo can run properly with leverage as small as 30 to 1.
How Much Drawdown Is Anticipated for Neo the Legend?
As the saying goes, a picture is worth more than a thousand words:
What Are the Best Trading Sessions for Optimal Performance Using Neo the Legend?
Neo automatically defines a 2-hour trading window, which happens in the last 2 hours of the NY trading session. This is because Neo is designed to exploit market inefficiencies that happen during low volatility periods, and by trading during the previously mentioned time window, the probability of having breaking news is also slimmer, which makes the ideal scenario for Neo.
Why Neo the Legend Trades During the Last 2 Hours of the NY Session?
Actually, we didn’t choose any specific time window, Neo did. ;)
What Are the Best and Worst Market Conditions to Use Neo the Legend?
- Generally speaking, markets that are stable and calm, without any major geopolitical scenario playing are the best conditions for Neo. And markets that are undergoing major geopolitical tensions involving the pairs that Neo trades, are the worst conditions for Neo. For example, it’s probably best to stay on the sidelines on any GBP pair during a Brexit vote
What Time Frame Can I Use While Running Neo the Legend?
- Since Neo reads data from different sources, including different time-frames, we designed it so it can be used on any time frame between the 1-Minute chart and the 1-Hour chart. It’ll have the same trading behavior regardless of which one you pick
What Is the Goal of Neo the Legend Forex Trading Software?
The main goal behind Neo is to have a robust and stable trading system, which can be either used as a stand-alone solution or at a portfolio level.
Can I Run Neo the Legend on Both Mode 1 and Mode 2 at the Same Time?
Yes, you can also customize a different risk level on each mode, so you can build your portfolio exactly how you want
What Type of Risk Management Features Does Neo the Legend Have?
Neo implements a cost averaging risk management system. It picks up a range where it will scale into a position as the market moves.
What is the Difference Between Neo the Legend Mode 1 and Mode 2?
Mode 1 does not like taking balance losses. It does sustain periods of floating drawdown, however, the amount of open drawdown is strictly limited, which prevents open positions from getting out of hand and causing a margin call. The trading frequency is not very high, but this system is quite stable and spread resistant.
Mode 2 is an active trader and places trades daily. It is spread-dependent (usually 3 pips or less is ideal) and does require some common sense to avoid trading days that are unusually volatile (not a good idea to run this strategy during a Brexit vote). Overall, this system takes losses when needed and it offers a more aggressive approach to the markets.
Neo implements a hybrid system between intraday and micro-swing trading. It will look for short-term market inefficiencies, and the average trade time can range between 2 and 8 hours, depending on the mode that is being used, as well as the market conditions.
- This product is not a "Set It and Forget It" Software.
- Even though Neo requires very little management time, it requires some decision-making. However, the time allocation is very minimal, on average, under 30 minutes per week.
How Many Trades Will Neo The Legend Take?
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Mode 1 takes on average 2 - 3 trades per week.
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Mode 2 takes on average 1 - 2 trades per day. This is mainly dependent on market conditions.
What Is the Minimum Balance That Can Be Run on Neo the Legend?
Neo allows a starting balance of $500 USD. Keep in mind that for a lower risk, you will require a larger minimum balance. This is because of the minimum trade volume, for example, if a user has a $100 USD account and trades at 0.01 lots, another user with $1,000 USD would trade at 0.10 lots to keep the positions proportional. However, if the $1,000 USD user trades at 0.01 lots, the $100 USD user can’t replicate the same risk level since no positions under 0.01 lots are allowed on most brokers.
Is Neo the Legend a Set it and Forget It Forex Trading Software?
- This product is not a "Set It and Forget It" Software.
Can I control my risk with Alfred?
Alfred offers several options to manage the risk you want to take on every trade, from selecting a fixed trade volume to having the trade volume automatically calculated based on a percentage of your account, or even on a fixed monetary value. All these techniques are also available in the cost-average engine that Alfred offers.
How is Alfred beneficial to you?
Alfred will take care of the heavy lifting when it comes to managing positions, from automatically placing your trade levels based on a specific distance from the entry price or even by setting them by using market volatility, to actively managing the trades or even setting your very own cost average system to apply over your manual decisions.
What makes Alfred unique?
Alfred offers a variety of tools and ways to automate the trade management process while packaging everything in a simple and easy-to-use interface so you can literally focus only on whether you want to buy or sell in the market.
Who should use Alfred in their trading plans?
Anyone from the beginning trader to advanced investors can use Alfred to dramatically improve their trading workflow by letting Alfred take care of the tasks that are time-consuming but that doesn’t necessarily improve the ability to find better trade entry opportunities.
What type of management strategies does Alfred have?
Alfred closes the gap between algorithmic trading and manual trading. Alfred contains a whole suite of management systems to automatically adjust open trades so that the trader can focus on finding high-quality trade entries. Alfred possesses an extended break-even system, including partial closings, profit protection, and even cost-average automation for manual positions.
When was the Alfred Trade Manager system developed?
Alfred started being developed as a trading assistance tool back in 2017, since then, it has been actively used to trade on multiple live accounts.
Is Alfred a set and forget Forex Trading Manager?
No, Alfred requires user interaction to place trades.
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