Today I am about to present you a review of trades made by the Breakout Scalper strategy by the Prop GT Expert Advisor on the EURUSD currency pair for the week from June 17 to June 21, 2024. 

Summer period is often characterized by reduced volatility and less predictable movements of the EURUSD currency pair due to the vacation season and reduced trading activity on the world markets. Despite this, the Prop GT Expert Advisor effectively adapts to changes in the market, continuing to find opportunities for profitable trades even in such conditions.

Fig. 1. EURUSD BUY 38.67, OpenPrice = 1.07409, Profit = -$4708.

The first trade was opened on June 19. Prop GT Expert Advisor identified a key resistance level and activated an order to break this mark at 1.07409. After the market overcame this level, Prop GT triggered an additional long order. However, the market suddenly changed direction, as a result of which both trades closed with a loss. On this day, no further trading operations were carried out by the Expert Advisor, as the daily risk limit of 4.8% was reached. The Expert Advisor automatically closed all open positions and refrained from new trades until the next trading day. Accepting losses is an inevitable part of trading, and the key skill is their effective management, which the Prop GT Expert Advisor successfully demonstrates.

Fig. 2. EURUSD SELL 48.96, OpenPrice =1.07325, Profit = +$6747.

The next trade was opened on June 20. Prop GT identified an important support level at 1.07325, and once it was identified, the EA patiently waited for the right moment to enter the market. As soon as the support level was broken, Prop GT opened the first trade for selling, which was successfully closed at TakeProfit, bringing a profit of 6% from one trade.

After closing this trade, the price continued to move downwards, demonstrating non-stop movement, which is an excellent signal to open another sell trade. As a result, Prop GT Expert Advisor opened two trades for selling on June 20, bringing a total profit of 6.8%.

Fig. 3. EURUSD SELL 24.8, OpenPrice =1.07031, Profit = + $2504.

At the end of June 20, a support level at 1.07031 was formed on the EURUSD chart. The price continued to trade near this level without moving far away from it, which served as a strong signal of a potential breakout. On June 21, this support level was broken, but after the breakout, the price briefly reversed without moving in the expected direction. The Prop GT Expert Advisor did not close the trade immediately, as the potential losses did not exceed the set risk limit for the day.

As a result, there was a sharp impulsive price movement in the direction of the open position, which allowed the Expert Advisor to fix the profit in time. For one trade, +2.5% was earned, which demonstrates the effectiveness of the strategy and the correctness of the risk management settings of the Expert Advisor.

Fig. 4. EURUSD SELL 29.34, OpenPrice =1.06923, Profit = + $3185.

After the successful closing of the previous profitable trade, the Prop GT Expert Advisor did not waste time and immediately opened another trade for selling. As you know, level breakout is often accompanied by a sharp impulsive movement, and the Expert Advisor effectively uses such moments to enter the market. The chart shows that the price showed a sharp decline, which was the optimal signal for opening new sell positions.

The next trade was opened at the price of 1.06923. The Expert Advisor quickly fixed part of the profit, and then closed the trade completely at TakeProfit. As a result, this trade brought an additional +3.1%. The total profit for June 21 was 5.6%, demonstrating the high efficiency of the Prop GT Expert Advisor.

As a result, in one week the Prop GT Expert Advisor brought a profit of 7.7%, which is an excellent result. For those who use the EA on the Prop Firm account, the Challenger was successfully completed in almost one week. Also, despite unprofitable trades, the EA did not exceed the allowable drawdown, which is in accordance with the rules of Prop Firms. All this confirms that the Expert Advisor is excellent at trading on the Prop Firms’ accounts. Below you can see the results of all trades this week!