Manhattan FX Review Introduction
The EA developers team is 12 industrial experts from New York City; a union of long-practiced Forex traders and software developers, started working together in 1998 and began developing Manhattan FX robot in 2008.
Trading Idea
Manhattan FX is a breakout based Forex robot without any martingale, arbitrage or grid strategies involvement.
Manhattan FX Criteria
License
The Basic Version is Licensed to 1 Account to Trade on EURUSD only, The Ultimate Version is Licensed for 1 Account to Trade on Both EURUSD and GBPUSD while the 2-License Version is Licensed for 2 Accounts to Trade on Both EURUSD and GBPUSD too.
Compatible Brokers
- Any Broker as Long as it Meets the Following Requirements:
- Raw Spreads and Commission (ECN/STP Accounts).
- 5 Digits Price Feed.
- Large Leverage (1:100 Minimum).
IC Markets Forex Brokers are recommended!
Broker / VPS
Tickmill ECN-Pro Account With TradingFX VPS are the Recommended Broker Account / VPS Combination.
Initial Deposit
No Restrictions on Minimum Account Balance.
Support
Email Support via a Dedicated Support Team 24/7.
Updates
Free Lifetime Updates.
Supported Currency Pairs
EURUSD only for the Basic Version and EURUSD, GBPUSD for the Ultimate and 2-License Versions.MetaTrader Chart Timeframe
M1Verified Live Trading Results
Trading Strategy
General Trading Features
As a breakout based Forex robot, Manhattan FX always sets a StopLoss for every trade to protect the account, in addition to its clever Money Management system that carefully determines trading opportunities and the suitable lot size for each of them.
Trading Limits
Manhattan FX Trading is limited to 10 lots (1000,000 units) in the 2-License version and 5 lots (500,000 units) in the other 2 versions, this is useful for disallowing unnecessary high positions and is considered a good safety measure.
High Spread Filter
By default, Manhattan FX this built in system forces the robot to cease trading during spreads widening as during summer and before news. This can be stopped manually if not desired.
Important Parameters
Buy Enabled: This option can enable / disable BUY orders excution.
Sell Enabled: This option can enable / disable SELL orders excution.
MoneyManagement: This is a switch between automated money managerment (if set to true) or manually setting a fixed trading lot size (if set to false).
Fix Lot Size: If MoneyManagement is set to false, here you can set the desired trading lot size manually.
Long trade risk: This is a percentage (%) value to set the maximum loss for every Long (BUY) trade.
Short trade risk: This is a percentage (%) value to set the maximum loss for every Short (SELL) trade.
** Please note that Long trade risk and Short trade risk refer to only ONE trade.
Maximum lot: This option determines the maximum lot size of the trades.
Balance Risk: This is the highest allowed drawdown as a percentage of the account balance, which if reached, Manhattan FX will stop trading to protect your account.
MyFxBots Admin
[Last Modified On Fri, 22 Apr 2016]Talk about Manhattan FX
Dace Lim
Mon, 27 Jun 2016
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Thu Aug 2nd, 2018
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Mon, 27 Jun 2016
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Thu Aug 2nd, 2018
Information, charts or examples contained in this review article are for illustration and educational purposes only. It should not be considered as an advice or endorsement to purchase or sell any security or financial instrument. We do not and cannot give any kind of financial advice. No employee or persons associated with us are registered or authorized to give financial advice. We do not trade on anyone's behalf, and we do not recommend any broker. On certain occasions, we have a material link to the product or service mentioned in the article. This may be in the form of compensation or remuneration.
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Risk
Forex trading can involve the risk of loss beyond your initial deposit. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.
Forex accounts typically offer various degrees of leverage and their elevated profit potential is counterbalanced by an equally high level of risk. You should never risk more than you are prepared to lose and you should carefully take into consideration your trading experience.
Past performance and simulated results are not necessarily indicative of future performance. All the content on this site represents the sole opinion of the author and does not constitute an express recommendation to purchase any of the products described in its pages.