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In FX trading, hedging is used to protect one’s position in a currency pair from the effects of an adverse move. As a short-term strategy that puts a major focus on news and events triggering volatility in markets. A number of expert advisors have started incorporating hedging strategies to automated their trades. Here are some of the best forex expert advisors that employ the hedging strategy.
Fortnite
FX Fortnite EA uses a trend/hedge combination strategy that works best on the H1 timeframe with EUR/CHF. Traders can start with as low as $10 on a cent account or a $1000 account. The EA works by analysing the market and finding convergence and divergences. With a yield per annum of 135%, Fortnite offers everything that both novice and experienced traders look for in a hedging EA.
Happy Frequency
With a strategy that combines trend/grid/hedge/semi-martingale strategy with a news filter mechanism. The currency pairs available with this EA include USD/CAD, EUR/USD, EUR/GBP, EUR/JPY, EUR/CHF, GBP/USD, AUD/USD, USD/CHF and USD/JPY. Salient features of this EA are easy installation, support for ECN brokers and auto quotes detection.
Grid Master Pro
Grid Master Pro is an EA that employs a combination of trend, hedge and grid trading. The EA comes with rich features such as an advanced time management system, notification system, Friday exit system and an advanced news filter. The EA detects the right moment for entering the market and takes into account grid-based recovery trades as well. The EA then employs a safe high-frequency scalping system and an additional second line of distant drawdown compensation trades to achieve profits.
GPS Forex Robot
GPS Forex Robot is an MT4 compatible EA which mainly trades the EUR/USD, EUR/GBP, GBP/USD, USD/CHF currency pairs. With a yield per annum of 345% and a drawdown rate of 9%, the EA is well-positioned to take advantage of volatile markets. The minimum deposit for this EA is a mere $100.
Forex inControl
Forex inControl is an EA that is suited for both aggressive and conservative styles of trades. It works on AUD/USD and EUR/GBP on the M10 timeframe. The EA has a unique character that allows it to function both as a singly system on an account or in combination with any other expert advisor. The EA’s potential profitability is 890% with a drawdown of 10.73%, making it one of the most profitable EAs in the market.
Calypso
Calypso is a multi-currency expert advisor that can work with a number of currency pairs. Users have a choice of two modes: with Stop Losses and without Stop Losses. The EA produces its best results on the M1 timeframe on the EUR/USD, GBP/USD and USD/JPY currency pairs. The minimum deposit for Calypso is $100.
Hedge EA
Hedge EA is an expert advisor which primarily focuses on applying hedging strategies to turn losing trades into profitable ones. The EA minimizes drawdowns by locking in losing positions until they get back in favour. The EA can also be used in the MetaTrader 4 strategy tester to get a better picture. The EA automatically places hedge orders, calculate the right stop loss and take profit. It is also compatible with Mt4 Trade Copier or Trader On Chart.
Wizard Pro Multi-Pair Hedge EA
Wizard Pro is a multipair hedge EA which uses three cycles to catch trends and secure funds by using non-correlated pairs. The EA works best with UDUAD, EURGBP, NZDCAD, and USDJPY currency pairs on the H1 timeframe. The EA is available for a one-time payment of $600 which provides the user with 5 licenses. The EA is also available on a rent basis for $250 per month or $350 for three months. It requires a minimum deposit of $2500.
Final Thoughts
Hedging is a very profitable strategy when applied right but it requires a lot of skill and dedication. The above EAs provide users with an automated tool to apply the strategy. Traders should note that EAs are software programs and no EA can guarantee profitability all the time. This is why traders must conduct their own research, back-test an EA and look at its performance record before committing money.
Reviewed and edited by Albert Fang.
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Article Title: Top 6 Forex Expert Advisors that Use Hedging Strategy
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