TAOS EURUSD EA Review – A Powerful Automated Trading Solution
The TAOS EURUSD EA is an expert advisor designed for automated trading of the EURUSD currency pair on the MetaTrader 4 platform. With its sophisticated algorithms and customizable settings, this EA aims to generate consistent profits in the forex market. In this comprehensive review, we will analyze the key features, performance statistics, pros and cons of using the TAOS EURUSD EA for algorithmic trading.
Overview of the TAOS EURUSD EA
The TAOS EURUSD EA was developed by a team of professional traders and programmers with over 10 years of combined experience in forex algorithmic trading. It is optimized for the EURUSD currency pair on the 15 minute timeframe, but can also be used successfully on the 5 minute charts.
Some of the main features of this expert advisor include:
- Advanced algorithms utilizing technical indicators like moving averages, RSI, stochastic etc. to identify high-probability trading opportunities.
- Innovative logic to determine trend direction and momentum.
- Customizable settings for tweaking trading behavior, position sizing, stop loss and take profit.
- Stealth mode to hide stop loss and take profit levels from brokers.
- Effective built-in money management to limit losses and protect capital.
Performance Statistics and Backtests
According to the vendor website, backtests over the past 10 years show that the TAOS EURUSD EA was able to generate over 930% compounded returns with consistent profitability. The largest drawdown was around 18% over the 10 year period.
These stellar backtest results demonstrate the EA’s potential to produce steady capital growth with relatively low risk. However, past performance does not guarantee future results. The key is to use prudent position sizing and risk management when trading this EA live.
Using the TAOS EURUSD EA in Real Trading
The developers recommend using the TAOS EA with a $2000 minimum account balance, although it can work with less capital as well. For best results, they suggest trading on a true ECN forex broker with fast execution and low spreads.
Some tips for getting good results with this expert advisor:
- Start with small position sizes of 0.01 lots and below. Gradually increase once consistency is achieved.
- Use a virtual private server (VPS) for uninterrupted trading and minimum latency.
- Allow the EA to run 24/7 so that it can capitalize on trading opportunities around the clock.
- Avoid over-optimizing the EA’s settings. Conservative backtested settings tend to work better out-of-sample.
- Monitor trades occasionally to ensure the EA is behaving as expected. But avoid interfering with its logic.
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The Pros of Using the TAOS EURUSD EA
Emotionless Automated Trading
The TAOS EA trades automatically based on its programmed logic without any human emotions or interference. This results in disciplined trading and better adherence to rules.
Flexible Customization
Users can tweak the EA settings like trade entry rules, stop loss, take profit, position sizing etc. to align with their risk appetite and market conditions. This flexibility is a major plus.
Stealth Mode Capability
The EA has a stealth mode feature to hide stop loss and take profit levels from the broker. This prevents stop hunting and increases win rate.
Effective Money Management
The built-in money management system ensures prudent risk management on every trade to protect capital and avoid margin calls.
The Cons of Using the TAOS EURUSD EA
Over-optimization Risk
Too much curve-fitting on past data can lead to poor performance when market conditions change. The EA should be optimized conservatively.
Increased Drawdown Risk
The EA’s aggressive position sizing can lead to large drawdowns if used without proper capital protection rules. Caution is advised.
Potential Loss from Software Malfunction
Like all automated systems, malfunctions can happen. So human oversight is still required to monitor trades.
Locked to EURUSD Only
The EA only works on the EURUSD pair. Traders looking for other currency pairs would need different EAs.
TAOS EURUSD EA Bottom Line
The TAOS EURUSD EA is an expert advisor with promising backtest results and great features for automated forex trading. When used prudently, it has the potential to generate steady profits on the EURUSD currency pair. However, traders should employ good risk and money management practices to avoid large drawdowns. Overall, the TAOS EA is a robust automated trading system worth considering for one’s algorithmic trading portfolio.