About the ELM_EA bot
Would you like to make big profits like Elon Musk, Mark Zuckenberg, or Bill Gates? I’m sure most people would answer that question in the affirmative. Unfortunately, creating something like Tesla, Meta or Microsoft is almost impossible for the average person. But to make money trading on the financial market is quite real! The modern history of trading knows many cases when a person became the owner of a multimillion fortune in one day, having predicted the direction.
Naturally, additional questions arise: how long does it take to learn how to trade on the market? How long will it take to gather news information and correctly estimate the current trend of currency pairs? How many days or months will it take to a beginning trader to earn at least some money from scratch? Undoubtedly, it takes years of work and education. And you want to make profit not in the distant future, but right here, right now. That is why millions of people start trading, but very few make it to the profit. But there is a solution that will help to reduce the waiting period to a minimum and start making profit right now.
Trading robots are a type of software specially designed to analyze the current market situation and to make decisions at such a speed, which a human is not able to make. In such programs the possibility to carry out the automatic analysis of the market, on the basis of events occurred earlier or occurring now. In simple words, trading robots can make decisions based on past events in the market or analyze transactions currently taking place. In addition, they can make not one, two or three deals as a simple broker, but several hundreds or even thousands in a few seconds. Thus, the efficiency of such systems is much higher than that of an ordinary man, even if he has a great experience.
The so-called scalper bots are very popular. I can say about them that they are quite a risky proposition in which the main bet is to quickly close the deal when the minimum profit is achieved. This strategy is used on intraday speculative operations and brings small amounts of money. But for success it is necessary to follow a number of rules. The main ones are:
- low stock exchange and brokerage fees with sufficient capital turnover;
- high liquidity of the traded instrument;
- stable volatility in the market;
- small spread;
- possibility to follow current quotations and quickly perform trading operations.
In addition, as mentioned above, this strategy brings small profits. Therefore, in order to get a large sum of money it is necessary to successfully make hundreds or even thousands of scalping transactions. Since the human brain is not capable of making such quick decisions in one day, that is why scalper bots are used.
The modern programming industry offers a lot of trading robots for use in the Forex market. Unfortunately, only a few can boast of the success of the ELM EA’s product.
The main problem in the development of Forex trading bots is the implementation of all the know-how offered by experienced traders. Even the most experienced programmer is unlikely to understand the peculiarities of the market to tell the robot through the programming code how to behave in a certain situation. A professional trader wouldn’t be able to write a single line of code for a trading robot.
Because the ELM EA was developed by programmers who worked closely with experienced traders, the bot includes the most advanced advances in programming and Forex trading!
The development has a unique, innovative, though complex approach to forex analysis with very high mathematical expectation. The algorithm analyzes ticks and is able to process more than 50 ticks per second. However, you should not overestimate the capabilities of artificial intelligence at the current stage of programming development. Although the ELM EA is an advanced solution for Forex trading, it does have its disadvantages, which are corrected by a professional programming team. This is what some skeptics use, claiming that there is nothing in the proposed algorithm that has not been done before. None of this is true. In order to better understand what makes this development unique, I will describe in detail the basic principles upon which the ELM EA technology operates and what makes it different from its counterparts. Well, for those who prefer the video format of the reviews, on elm-ea.com you can find a story with complete data, both technical and statistical. Additionally, you can download a free copy of the software.
Main features ELM EA
ELM EA is a fully automated cross-platform trading robot. At the same time, the bot adheres to the strict principles of work invested in it by its developers. Only one trade at a time. The application avoids all risky actions that could lead to unjustified losses in the market. So it completely excludes the use of “rebuilding algorithms (martingale)” or other dangerous strategies. The lot size of the next order is always the same according to the Risk settings, regardless of the result of the previous one. This algorithm uses virtual TP and SL, as well as real TP and SL visible to the broker. Clever money management system that allows you to work even on a $10 account. The trading strategy does not require a large margin, so it can work successfully on accounts with low leverage.
A huge difference from other bots is that the algorithm is tested exclusively in real time. The history testing function is disabled. Although the real-time testing process requires more time, it is safer than analogous schemes with history testing. Thus the ELM EA shows reliable results that can be trusted, unlike the tests from the strategy tester. This is a unique feature that makes the development almost unique in the market of bots for working in Forex.
Since direct testing of the program is given much attention, customers can stop worrying about the need to constantly improve the application and update the database.
The offered bot supports from 6 to 26 currency pairs for trading. The number of currency pairs depends on the version downloaded by the user: for example, if you purchase the “Optimum” version the user is able to use 6 currencies, if you purchase the professional version – 26 currency pairs. As far as I could understand when using the application, it is convenient to use the bot in either case. But purchasing the Pro version offers a lot more features. Everyone decides for himself what to buy in the end.
Profits ELM EA on the real accounts
Of course, one always talks about profits in such an area as Forex trading with a certain caution. However, using my own example, I can say with confidence that when using the standard settings of the bot it ranges from 20 to 25% per month when trading on an account with a leverage of 1:500. For those who like faster enrichment I strongly recommend using aggressive variant of settings. However, as in any business that promises great profits, the risks when using the application in this way also increase significantly.
Security of funds in your trading account
As I mentioned above, the developers of the bot paid a lot of attention to the safety of work and finances, actively used in the trading process. In the ELM Expert Advisor, users are provided with a feature that allows them to disable trading if slippage or a specified execution speed (very slow execution) is exceeded. Such blocking is done automatically as soon as the system detects the conditions specified in the settings.
An additional feature, which will help you to avoid large losses when trading, is the function of algorithm deactivation, in case of consecutive losing chains. Such a protection system allows you to save your deposit even under extremely unfortunate circumstances. Thanks to it the ELM EA has never lost a deposit in one day.
In addition to these functions, the algorithm offers clients the use of additional protection settings that can ensure the safety of funds, as well as limit the level of financial risk, depending on the wishes of the user. Naturally, in addition to contingencies in the market, such a security system of the algorithm also protects it from excessive manipulations of the broker.
Recommended pairs for ELM EA
Here are the most profitable and popular currency pairs with which users trade and make a profit. They include the following variations:
EUR/USD, GBP/USD, USD/JPY, EUR/JPY, USD/CAD, AUD/USD, NZD/USD, AUD/JPY, AUD/NZD, AUD/CHF, AUD/CAD, CAD/CHF, CAD/JPY, CHF/JPY, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/JPY, GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY, NZD/JPY, NZD/CAD, NZD/CHF
There are a lot of variations in the use of currency pairs. Of course you can use operations with all 26 currency pairs simultaneously but I recommend you to avoid those with spread values higher than 2.5. I guarantee that this tactic will greatly increase the overall profitability of the strategy.
If you really want to work with 26 currency pairs at the same time, you will need sufficiently powerful hardware, as well as 1 gigabyte of RAM on your VPS server. I think it’s better to explain what a VPS server is. For a service to work efficiently, it needs a hub where the data will be stored and processed. There are several options for hosting the service:
Virtual hosting – it can be compared to people living in a shared apartment. The service exists on a server with many other sites. All the tools that the owner of the site can use, determined by the hosting server. Easy to use, but more suitable for small projects.
VDS/VPS options – more like buying an apartment in a multi-storey building. The site shares space with other sites, but they are many times less than the previous option. Tools for use becomes more, the volume is determined by the owner of the site at the notification of the hoster. Resource management is in the hands of the owner of the site, which, on the one hand, provides new opportunities, on the other – requires certain knowledge. Therefore, it is better in this option to hire a separate specialist to monitor the site.
Rent a server and co-location – a kind of homestead. The site is either on a separate server, or buy a separate cell and hoster implements it in his system. This type is most suitable for large, serious projects. But to conduct it many times more complicated than the previous varieties. That is why it requires the work of a professional team.
Of course, the latter option is best for high performance. However, it is also the most expensive. Virtual hosting distributes the speed to all users evenly, so at high loads there may be outages. That is why most users choose a kind of golden mean – VPS-server.
I want to note that here is only a short list of recommended brokers. More detailed list is available on my forum. At the same time I by no means pretend to be a final authority on this question. If you look closely, you will not find here any affiliate links to brokers’ websites, which proves my neutrality in this matter. My only task and purpose of this text is to help my clients to earn money by using the proposed algorithm ELM EA and a detailed analysis of its features.
So, based on my experience, the best brokers to work through the ELM EA are:
- Tickmill (Pro or VIp account)
- NDDFX (Dma account)
- FBS (ecn account)
- Hanko trade
- Worst brokers for ELM EA
- IcMarkets(Only if with MT5)
In no way am I trying to limit users to the names on this list, these are just my recommendations based on my own experience.
License to use the ELM EA trading robot
Licenses to use the bot are distributed through a forum where other customers who use the development communicate and share their opinions. This makes information about the risks and benefits of the bot not only as open as possible, but also helps users share experiences and tips with each other. You can try to improve your results based on advice from customers who started using the algorithm earlier than you did. I think in any case, communication on the forum will be a useful step in the overall development.
The software is not tied to the account number/account owner/broker. There is only a limit to the number of trading accounts working at the same time. This is very convenient for the user of the license, because it gives the maximum freedom of choice for the client without any restrictions. Depending on the package, the license can work on 3 or 10 trading accounts at the same time. To add a new account, if you have reached the limit on the number of simultaneous connections, simply deactivate one of the accounts.
Conclusion about ELM EA
ELM EA is one of the most powerful trading robots currently available for MT4 and MT5 trading platforms. This algorithm has a balanced strategy, strict rules for opening trades, friendly support and a well-established community of traders who trade using the algorithm. I would like to highlight the excellent security system that helps to reliably protect the deposit from queues of failures in the market, as well as from the user, limiting losses to a certain limit. The possibility of deactivating the algorithm has led to the fact that not a single client has lost the entire amount of the deposit.
One of the disadvantages is the cost of the product, which is too high for ordinary traders. Of course, like everyone else, I would also like to get a quality product for a paltry price. However, we all understand that this is impossible. After all, a whole team of experts has worked on the algorithm, and the work of professionals always costs a lot.
But on the other hand, the customers get a comprehensive product, ready to use on real trading accounts. The trading strategy is already thought out and implemented in the code and optimized for real trading. Basically, users do not have to do anything, but to use a ready-made and well-thought-out system. The system is as transparent as possible, and the information is available to clients as much as possible. Developers share their accounts with investment passwords, which also emphasizes the transparency and honesty of the project. Given all this, we can say that the amount is quite acceptable for providing such a wide range of services.