Forex Profit Defender Review: Forex Profit Defender Robot is an innovative forex system for placing Trailing Stops to open trades. Forex Profit Defender isn’t a regular automated Forex trading robot. It’s built to help forex traders which trade manually or use other forex trading robots which don’t support Trailing Stops.
Forex Profit Defender Review
Forex Profit Defender Robot may be used for manual trading. When placed on a chart it prints two buttons: BUY and SELL. By hitting those two buttons the trader can open manual trade. This manual trade will be maintained by Forex Profit Defender robot using one of its trailing stop systems.
What are the 3 Trialing Stop systems?
Let’s explain first what we mean by Trailing Stop concept. When a trade is in X pips profit to set a stop loss Y pips from the open price. This way even the price to reverse the trade will be closed with Y pips profit.
The Forex Profit Defender is made up of 3 distinct Trailing Stop algorithms. Any of these algorithms can be utilized. The majority of the forex robots don’t have Trailing Stop feature.
Forex Profit Defender robot will help in placing further protection to the pending profits of the open trades. Moreover, even in manual trading, the trader won’t be able to set Trailing Stop in such an easy way.
Forex Profit Defender Trailing Stop Algorithms
1. Simple trailing
2. Bollinger bands trailing
3. Parabolic SAR trailing
Let’s explain these Trailing Stop systems in more details in the nexe few lines
1. Simple Trailing Stop
If the Simple Trailing Stop is enabled in the robot’s settings, the robot will keep watching all open trades and once the pending profit of one of the trades is beyond X pips the robot sets Y pips trailing stop loss. The idea is to guarantee at list Y pips profit for the trade in case that the price reverses.
If the price moves in the right course and the existing profit is growing up, the robot will move the trailing stop with Z pips to make sure even more pips profit for the trade.
2. Bollinger Bands Trailing Stop
Bollinger Bands indicator is probably the most well-known indicator for trading. It’s also great for trending markets. Forex Profit Defender use it for placing trailing stop when Bollinger Bands Trailing Stop is enabled in the robot’s settings.
The idea behind Bolling Bands Trailing Stop efficiency is very easy. Bollinger Bands has three lines: Upper Band, Lower Band and Middle Band. Middle Band is a simple moving average. It’s the base of the other two upper and lower bands.
Bollinger Bands indicator is an amazing tool to indicate the markets volatility. This’s because its Upper and Lower Bands are used to gauge the deviation. The lower one is the maximum negative deviation from the middle band and the upper band is the maximum positive deviation.
There are many trading signals which are generated by the way the price interact with the bands. As an illustration, if the price breaks through the upper band, it generates a buy signal, on the other hand, when it breaks below the lower band, it generates a sell signal.
How the Bollinger Bands Trailing Stop works?
Let’s say we have opened a buy trade based on Bollinger Bands indicator where the price breaks through the upper band. The price will remain rising with every new bar.
Once the middle line becomes higher or equal to the trade open price the robot will place a trailign stop equal to bands middle line value. The robot will move the trailing stop with every new bar because with every new bar the middle line of Bollinger Bands will also rise.
When the price becomes equal or lower than middle line of Bollinger Bands indicator the trade will be closed automatically on a profit equal to the last trailing stop, which is equal to the biggest value of the middle line of Bollinger Bands.
3. Parabolic SAR Trailing Stop
The Parabolic SAR is a Forex indicator that help in locating possible reversal points in the market. When price is trending up, the Parabolic SAR dot is placed below price. When price is trending down, the Parabolic SAR dot is placed above price.
How the Parabolic SAR Trailing Stop works?
Let’s say there is a reverse and the Parabolic SAR dot appear below of the price. This means that the price is trending up and we open a BUY trade. With every new bar Parabolic SAR indicator also print a new dot.
When the Parabolic SAR dot is equal or greater than trade open price the robot will set a trailing stop equal to Parabolic SAR dot value. The same way with every new Parabolic SAR dot the robot will continue to move the trailing stop.
If you find a new change in the price direction, the Parabolic SAR dot changes its position where the price start dropping. But due to the trailing stop feature, the trade will be closed on a profit equal to the Parabolic SAR last dot before the reverse takes place.
The forex trader now no longer has to worry about open trades and do not worry to lose all pending profits due to sudden reverse in the market which happens all the time. With the help of this great feature in Forex Profit Defender Robot Trailing Stop system, this Robot can automatically manage all trades opened by the signal system. This makes Forex Profit Defender a fully automated expert advisor.
Forex Profit Defender As A Forex Signals Generator!
Furthermore, Forex Profit Defender robot can generate trading signals and execute them automatically. The most recent version of Forex Profit Defender EA comes with a Forex signals Generating system.
The robot can generate BUY and SELL signals according to Bollinger Bands and Parabolic SAR indicators. The robot also can execute the signals automatically. This can be tune up precisely from the robot settings.
Because Forex Profit Defender robot is a manual trading robot, you can use it with any currency pair as well as gold, silver and other instruments available for trading in MT4.
Forex Profit Defender Features
- 3 Trailing Stop Systems: Simple Trailing, Bollinger Bands Trailing, Parabolic SAR Trailing.
- Manual Trading Option: Possibility to open manual trades!
- Compatible with all other Expert Advisors on the Forex Market.
- Integrated solid money management system.
- High Spread Protection: It keeps you away from unsuitable market conditions (High Spread).
- High Slippage Protection: It keeps you away from unsuitable market conditions (High Slippage).
- Broker Protection: Protects you against unfair brokers and their techniques of deception.
- Hidden TP And SL: Hide Take Profit and Stop Loss from the broker. Prevent hunting.
- Lifetime support and free updates for all Expert Advisors.
- 60-day Money Back Guarantee
- Price: $69 >>> $49 (30% Discount coupon available)