This is a 10K USD account with OndaFX running on the hourly charts of EURUSD and AUDUSD with the suggested settings and 1 minilot as the base lot size for both pairs.
I’d like to show some price action of EURUSD and AUDUSD over the last week in order to explain the “breakout entry rules” of OndaFX.
EURUSD uses “rule 1″ for its entry, that is the close of 1 candle must be above the upper Bolliger Band for a Short trade or below the lower BB for a Long trade:
On the contrary AUDUSD uses “rule 2″, that is the close of two consecutive candles must be above the upper BB for a Short trade and below the lower BB for a Long trade:
There are several “entry rules” and “re-entry rules” coded into OndaFX and they are exposed in the input settings: that means that through backtesting we can assess the optimal strategy to be used for each pair.
Another important input setting of OndaFX EA is the ATR multiplier used for the dynamic take profit level: we have found that 3*ATR is a fairly good value for EURUSD, while 4*ATR is more appropriate for AUDUSD.
A feature of OndaFX is the ability to hedge trades according to opposite breakouts of the Bollinger Bands. As an example the last two trades executed on EURUSD (they are currently open during the week-end) have formed the following “positive hedge” scenario:
In this case OndaFX has virtually locked in a profit of +47 pips. The short and long trades will be closed independently from each other during the next trading sessions, however at this point the trader may also decide to manually “close by” these two trades and pocket the 47 pips 😉
Right now OndaFX is available at a special promotional price. Just remember to use this 33% discount coupon (only valid until for the next 48 hours or when the first 100 licenses are gone):