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Tips & Tricks For Using Forex Recovery Bot

  • We recommend backtesting the EA before using it in a live situation so that you can get a feel for how the EA works, and find the best settings for you.  (backtesting guide – https://forexrecoverybot.com/docs/how-to-backtest-forex-recovery-bot/)

  • We recommend running the bot on the M15 timeframe or higher (make note of the “one trade per candle” settings if running on a higher timeframe)

  • Grid recovery mode is best on pairs that are in a ranging market, while zone recovery is best for pairs that have strong trends.

  • If grid mode is used on a pair with high volatility (GBPJPY, GOLD, or any pair before big news events) it is recommended to increase the grid step.

  • Grid mode with trend filter enabled may take the recovery process a little longer, but has lower chance of adding large downdraw.

  • Grid mode starting lot size should remain at .01 lots, unless you are an advanced user.

  • If there are multiple currency pairs to recover it is HIGHLY recommended to change the “symbols to recover” input to “one symbol at a time”. Trying to recover multiple currency pairs at once is very aggressive and risky. Use at your own risk.

  • Increasing the “losing order close size” will result in it taking longer to recover orders, but the downdraw will be reduced more once orders are recovered. If you are unsure what is best in your situation it is best to leave the settings as they are in default (.01 losing order close size).

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