Settings

• Money Management - Either FIXED or DYNAMIC
• Fixed Volume - Fixed Lot
  
• Reference Balance for Volume - If Money Management is DYNAMIC, the fixed volume will be applied to the reference balance
• Take Profit - Take Profit
• Zone Width - Fireball uses the mechanism of the "recovery zone". The width of this zone can be adjusted here.
• Maximum Orders per Symbol - Use this to limit the maximum number of recovery orders.
• Maximum Spread - Spread filter
• Maximum Slippage - Maximum Slippage
• Starting Hour - The starting hour for trading can be defined here. It is specified in broker time.
• Ending Hour - Ending hour for trading in broker time.
• Closing Mode - How to close open positions. Default: MPF (Most Profitable First). For FIFO brokers set this to FIFO.
• Account Type - Default: HEDGING. If your broker doesn't allow HEDGING, set this to NETTING.
• Show Visuals - Show the take profit and recovery zone that the EA uses.
• Magic Number - Unique number to identify this EA.
• Comment - A comment attached to all orders.

Further Recommendations

When running Fireball EA on multiple currency pairs at the same time, it is recommended to have at least $1000 of account balance allocated for each pair.

Best results are achieved in HEDGING mode using a low spread ECN broker and a low latency VPS.

There is no need to deactivate Fireball EA during news events because it benefits from the market moves that can be caused by news.

This is a free version of Fireball EA which only works on demo accounts.

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