Fireball EA is an automated expert advisor that uses a unique approach to money management and volatility-based entry signals to capture market movements independent of direction.
It is fully compatible with FIFO rules and works on hedging as well as netting accounts.
Pairs and Timeframe
Fireball EA runs on the M15 timeframe. The following currency pairs are officially supported:
- EURUSD
- GBPUSD
- USDJPY
- USDCAD
- USDCHF
- AUDUSD
- NZDUSD
Settings
- Money Management – Either FIXED or DYNAMIC
- Fixed Volume – Fixed Lot
- Reference Balance for Volume – If Money Management is DYNAMIC, the fixed volume will be applied to the reference balance
- Take Profit – Take Profit
- Zone Width – Fireball uses the mechanism of the “recovery zone”. The width of this zone can be adjusted here.
- Maximum Orders per Symbol – Use this to limit the maximum number of recovery orders.
- Maximum Spread – Spread filter
- Maximum Slippage – Maximum Slippage
- Starting Hour – The starting hour for trading can be defined here. It is specified in broker time.
- Ending Hour – Ending hour for trading in broker time.
- Closing Mode – How to close open positions. Default: MPF (Most Profitable First). For FIFO brokers set this to FIFO.
- Account Type – Default: HEDGING. If your broker doesn’t allow HEDGING, set this to NETTING.
- Show Visuals – Show the take profit and recovery zone that the EA uses.
- Magic Number – Unique number to identify this EA.
- Comment – A comment is attached to all orders.
Further Recommendations
When running Fireball EA on multiple currency pairs at the same time, it is recommended to have at least $1000 of account balance allocated for each pair.
Best results are achieved in HEDGING mode using a low spread ECN broker and a low latency VPS.
There is no need to deactivate Fireball EA during news events because it benefits from the market moves that can be caused by news.
This is a free version of Fireball EA which only works on demo accounts.
NOTE:
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DISCLAIMER: Please read carefully before you decide to invest in Forex Market
- Forex Trading is dangerous and can result in a substantial loss of money. Due to the uncertain nature of the Forex market, there is no guarantee that our products will produce any favorable results. Before you purchase, please read our RISK DISCLAIMER.
BEAR THIS IN MIND: The Forex market changes from day to day, and that past performance can therefore not be guaranteed to repeat in the future. Past performance shown and in videos may use aggressive trading approaches and risk management to prove the potential of the Forex robot over long periods. Because of this, we recommend that you test the EA on your own broker account using many variations of currencies, time frames, and settings to make sure you experience favorable results in current market conditions before trading live accounts. - Forex Trading EA/Robot is just a piece of Programming to Sophisticate your trading but never guarantee your winning.
- Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. No representation is being made that any account will or is likely to achieve profits or losses similar to those that may be shown.
- Past performance is not indicative of future results. Individual results vary and no representation is made that clients will or are likely to achieve profits or incur losses comparable to those that may be shown.
- Before deciding to trade products, you should carefully consider your objectives, financial situation, needs, and level of experience. The possibility exists that you could sustain a loss of some or all your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose.