DOW and DAX Forex EA Review
DOW and DAX Forex EA is a powerful and exciting index trading expert advisor for the MetaTrader 4 platform. It trades the US30 (also known as DJ30, Dow Jones Industrial Average, DJIA, and Dow30) and DE40 (also known as DAX40/GER40) indices. The EA works based on breakout strategies to trade the first few hours of the European session. Index trading is quite different from spot FX, as it requires a more specialized skill set due to the higher number of variations.
- Fully automated trading: The DOW and DAX Forex EA can trade on your behalf, allowing you to focus on other tasks or simply monitor its performance.
- Trades two major indices: The EA trades both the US30 and DE40 indices, providing diversification in your trading portfolio.
- Breakout strategy: The EA uses a breakout strategy to trade during the first few hours of the European session, which can be a volatile and potentially profitable time to trade.
- Backtesting challenges: Backtesting indices is not as straightforward as FX, as many brokers use a different number of digits after the decimal point, and some quote spot rates, futures prices, or have expiry dates.
- Broker time adjustments: The EA works at a specific time of day (the default preset is for GMT+2), and broker time can change from broker to broker, so you need to adjust the EA trading time.
- Limited to MetaTrader 4: The EA is designed for the MetaTrader 4 platform, which may be a limitation for traders who prefer other platforms.
DOW and DAX Forex EA Verdict
In conclusion, the DOW and DAX Forex EA is a powerful tool for trading two major indices using a breakout strategy during the European session. However, it comes with some challenges, such as backtesting difficulties and the need to adjust trading times based on broker time. It is essential to test the EA on a demo account first to fully understand its performance and capabilities before using it on a live account.