AW Recovery EA Review – An Expert Advisor for Recovering Losses
The AW Recovery EA is an expert advisor (EA) designed for the MetaTrader 4 and 5 trading platforms to help traders recover losing positions and drawdowns in their accounts. Developed by AW Trading Software Limited, this automated trading system aims to turn unprofitable trades around or at least minimize losses.
Overview of the AW Recovery EA
The core functionality of the AW Recovery EA is restoring losing trades. The algorithm locks in losing positions, splits them into multiple parts, and closes each part separately. This allows traders to reduce losses with a lower margin load compared to grid strategies that close entire order groups together.
Key features include:
- Easy setup with an intuitive interface
- Delayed launch during drawdowns
- Locking to prevent further losses
- Disabling other EAs running on the account
- Averaging orders with trend filtering
- Partial closing of losing positions
- Automatic stop loss and take profit resetting
- Deleting pending orders
These capabilities provide flexibility to use the EA as a standalone system or in combination with other advisors. It can turn off unprofitable EAs at the right time or work in parallel while managing overall risk.
How the AW Recovery EA Works
The AW Recovery EA goes through several steps to restore losing orders:
- Closes other chart windows (optional): This disables any active EAs on that symbol to prevent interference.
- Resets TP/SL levels: The EA resets take profit and stop loss levels on all orders it will process. This provides it full control.
- Deletes pending orders: Removes any pending buy or sell limit/stop orders on the chart.
- Closes profitable positions: Closes any winning trades and uses the realized profit to cover a portion of the losing positions. This reduces the loss amount needing recovery.
- Opens recovery orders: Places averaging or hedging orders in the opposite direction to the losing trades. The EA divides each losing order into multiple small parts and closes them individually. Using small order sizes prevents overloading the account balance.
- Manages recovery orders: The EA incorporates trend filtering and intelligent algorithms to manage the additional averaging orders. It prioritizes closing the least favorably located losing orders first.
These steps allow the EA to methodically recover drawdowns. Traders can limit the recovery trading to a specific amount based on their account size and risk tolerance.
Benefits of Using the AW Recovery EA
The AW Recovery EA provides several advantages over manual trade recovery:
- Automation: It automatically restores positions without the trader needing to continually monitor and place additional orders. This frees up time for other activities.
- Customization: Traders can specify parameters like recovery start rules, order sizes, locking features, and more based on their needs.
- Risk management: Built-in protective logic, like partial closing and trend filtering, leads to safer loss recovery with less margin usage than grid EAs.
- Flexibility: The EA can work independently or along other advisors on an account. It can disable competing EAs or work in parallel while managing overall risk.
- Ease of use: The intuitive interface and detailed documentation allow both novice and advanced traders to quickly setup and run the software.
Automating the trade recovery process provides significant advantages over manual intervention. The AW Recovery EA gives traders a tool to instantly react to market moves and restore losing positions according to predefined logic.
Using the AW Recovery EA
The AW Recovery EA incorporates extensive options so traders can customize it based on their specific account, risk tolerance, and recovery goals. However, the developer provides default settings that serve as a starting point.
The key inputs fall under several groups:
- Trade Parameters: Inputs like order type, magic number, lot size, TP/SL levels to configure the recovery orders placed.
- Entry Conditions: Thresholds for metrics like account drawdown percentage, trade volume, or date to trigger when recovery begins.
- Order Filters: Settings to filter recovery trades by parameters like time and current price relation to moving averages.
- Risk Settings: Variables to control total order volume, maximum spread, SL levels, and locking features.
- Other Settings: Options to disable other EAs, send notifications, optimize closing, and more.
Traders should backtest the EA in Strategy Tester across different market environments to evaluate performance and fine-tune inputs. The testing can simulate various loss scenarios to determine optimal recovery logic for a given strategy.
It’s critical to use proper position sizing for the recovery orders based on account size. As the EA documentation states, “Restoring orders are opened with a small volume, so as not to greatly increase the load on the deposit.” Appropriate risk management is essential when averaging down or scaling into losing trades.
Customer Reviews and Discussion
The AW Recovery EA currently has 15 activations, indicating customers actively using the software. Reviews of the product are overwhelmingly positive. Users highlight the easy configuration, reliable performance across various symbols and sessions, and effectiveness recovering losing positions.
For example, one buyer stated, “Overall, I am very pleased with the results and would like to recommend AW Recovery EA to anyone who is looking for a reliable and efficient Forex trading tool.”
The MetaTrader Market product page shows a 5-star rating. However, given the small number of votes, broader input from the trading community provides more perspective.
On Forex forums and review websites, sentiment toward the AW Recovery EA also skews positive. Traders praise the strong documentation and responsive customer support. They also emphasize the importance of taking time to properly backtest before going live. As one forum member advised, “Test your drawdown before starting, you can do this using the ‘Visualization’ mode in the strategy tester.”
Verdict on the EA
The AW Recovery EA aims to solve the common trader problem of managing open losing positions. It automates the process of restoring drawdowns in a methodical, customizable manner – something difficult to achieve manually.
The mix of sensible logic, flexible configuration, and layered risk management makes the AW Recovery EA a solid option for traders looking to integrate a recovery system into their trading. While proper testing remains vital before committing real capital, the EA has demonstrated effectiveness recovering losses under various market conditions.
Overall, traders struggling with losing trades may find the AW Recovery EA helps them better respond to adverse moves, limit drawdowns, and improve overall profitability. The initial $145 price point places it affordably among the recovery-focused advisors available to the retail trading community.