Waterstrider Naked Trader Full Option EA V1.0 MT4

The Waterstrider Naked Trader Full Option EA V1.0 MT4 is a robust Expert Advisor designed to take trades based on specific technical setups. Below, we break down the critical elements of using this EA and how it executes trades.

Key Features & Trading Strategy

The Waterstrider Naked Trader EA utilizes a strategy based on naked price action and trend-following indicators to open and close positions.

• Trade Trigger Mechanism:
  • Price Action Signals: This EA looks for significant price movements and candlestick patterns to determine entry points.
  • Trend-Following Filters: It incorporates trend indicators like moving averages to confirm the overall market direction before executing trades.
  • Risk Management: Stops, limits, and dynamic trailing stops are used to secure profits and minimize losses.

Trading Requirements

Parameter	Details
Minimum Deposit	$100 or equivalent in your account currency.
Time Frame to Run	Best results on M15, H1, H4, depending on market conditions.
Currency Pairs	Ideal for EUR/USD, GBP/USD, USD/JPY, and major forex pairs.
Lot Size	Adjusted based on account size and risk tolerance.
Risk Level	Conservative (up to 2% per trade recommended).

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Time Frame to Run

The Waterstrider Naked Trader EA works across different timeframes, but to optimize its performance:

• M15: For shorter-term, quicker movements. Ideal for scalping or day trading.
• H1: Provides a good balance of accuracy and reduced noise. Works well for active traders looking to catch intraday trends.
• H4: Best for traders who prefer swing trading, allowing the EA to capture larger market moves over a few days.

Which Currency Pairs to Run

• EUR/USD: This pair provides high liquidity and often tight spreads, making it suitable for automated trading.
• GBP/USD: A volatile pair with high trading volume, ideal for capturing bigger price movements.
• USD/JPY: Known for its stable trend patterns, this pair is effective for longer-term trades.
• Other Major Pairs: The EA works well with other major pairs like AUD/USD, USD/CHF, and USD/CAD, as they tend to have predictable patterns and solid liquidity.

Execution Strategy

• Entry Points: The EA enters trades after confirming a valid price action signal, typically a break of support/resistance or a trend reversal pattern.
• Trade Confirmation: The EA only places a trade if the trend is confirmed by indicators such as moving averages or oscillators.
• Exit Strategy: The EA uses a combination of stop-loss, take-profit, and trailing stop mechanisms to lock in profits while minimizing losses.

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By adhering to the minimum deposit, time frame, and currency pair recommendations, and letting the Waterstrider Naked Trader EA V1.0 MT4 execute trades based on its precise strategy, users can achieve consistent and profitable results.