• Input Settings Guide

  Introduction This guide will serve as the complete settings guide for setting up Forex Recovery Bot. The bot features many different settings to accommodate for a wide range of recovery situations. We encourage clients to 1) read this guide entirely 2) test settings on a demo account before using it in a live situation. Attaching The Bot To A Chart: The trader should open a new M15 timeframe chart, attach the bot, and enter the input settings. The chart symbol does not matter ThePopular

• Pre-Defined Settings Overview

  Forex Recovery Bot has several different recovery settings built in. This allows traders to quickly select recovery settings and get started. The details of each pre-defined setting can be found below: Low Risk - Grid Grid Step = 250 Grid Step Multiplier = 1.1 One Trade Per Candle = true Trend Filter = true Starting Lot Size Multiplier = 1.4 Medium Risk - Grid Grid StepPopular

• Recovery Order Starting Lot Size Guide

  Forex Recovery Bot utilizes a grid style trading system to recover losing order. You may consider the chart below to find the best starting lot size for you. In our experience it is usually best to start with the minimum starting lot for the least risk. You may change the starting lot at anytime during the recovery if needed.Some readers

• Positive Grid Feature Overview & Settings

  Positive Grid Feature Description Forex Recover Bot includes a feature called "Positive Grid", which can help speed up the recovery process. Traditionally, when the bot is managing a recovery grid it will only add new orders to the grid if price moves in the opposite direction. For example, if the bot is managing a recovery sell grid, the bot will only add orders if price moves in the opposite direction (ie; if price goes up and against our sell grid trades). However, with positiveSome readers

• How Forex Recovery Bot Works

  Forex Recovery Bot is an advanced MetaTrader 4 / MetaTrader 5 expert advisor, which was built with the purpose of recovering losing trades and account drawdown. The bot operates in three steps, which are described in detail below: Step 1. Losing Order Hedge Once the bot is activated the first operation it performs is to hedge the total volume of losing order. This step “locks” the original downdraw in place, and makes it so that the downdraw of the original losing order(s) cannot gSome readers

• Recovery Time Overview

  The amount of time that it takes Forex Recovery Bot to recover your order(s) will vary on several different factors, such as; Market condition (price movement, volatility, news events, etc) Your recovery settings (low, medium, high risk) The number of lots and drawdown that needs to be recovered Generally, lower risk settings will result in longer recovery time because the bot is set to use a more conservative approach. Our low risk settings will have the bot only trade the current priceFew readers

• Smart Closure Feature

  In version 2.3 we introduced a new feature called "Smart Closure". What is Smart Closure? When enabled, the bot will look for additional opportunities to close trades during the recovery process. For example, when the recovery process starts the trader might have 10 total losing trades. Over the course of the recovery process, price moves and now 5 of those orders are back in profit. If enabled, smart closure will allow the bot to use the profit from the 5 orders to close as much as the loFew readers

• Tips For Running Forex Recovery Bot Safely

  In this guide we will document tips for running Forex Recovery Bot in a safe and effective manner to maximum chance of success. Starting Drawdown The most important factor in recovery success is the starting drawdown that the account is in when recovery is started. The higher the drawdown that the account is in when recovery is started, the harder it becomes to recover. Therefore, we suggest starting recovery before the account reaches greater than 30-40% drawdown. The bot can still of courFew readers

• Frequently Asked Questions

  Below you can find frequently asked questions regarding Forex Recovery Bot and it's usage. Q: Will the bot work with prop firms?Few readers

• How To Backtest The Bot

  Forex Recovery Bot is compatible with MetaTrader 4 and 5 backtesting. By backtesting the bot you will be able to see how the bot would have performed during previous downdraw events and recovery situations. Additionally, we suggest backtesting to test and confirm your settings before using the bot on a demo or live account. When backtesting, the bot will first open a “wrong position” order. This will be the losing order that the bot is tasked with recovering. You will want this order to go intoFew readers