This is a demo version of the EA https://www.mql5.com/en/market/product/52091
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The EA analyses multiple currencies and multiple time frames and identifies the best scalping opportunities.
It will look for quick exits where the trend changes.
All exits are purposely designed to be with some profit at most times.
The EA has inbuilt margin protection to manage risk and exposure.
Recommended leverage is 500 and above and a minimum capital of $500.
The lower the spread the better the results. Recommended spread 20 points and below.
A Winning Trading Strategy
This article describes the components and logic needed to develop a trading strategy that ensures that a profit is made regardless of what twists and turns the market throws at you.
Time, experience, and thousands of experiments have led me to conclude that the strength of a strategy is not in the accuracy of the indicator signals but in the management of open positions. In this article, I will describe the components and logic needed to develop a trading strategy that ensures that a profit is made regardless of what twists and turns the market throws at you.
First, we define the overall objective of our trading strategy. My objective is to achieve 0.5% per day for 20 trading days in a month for 12 months which translates to a return of between 120% (if you use the simple interest formula 0.5%x20x120) and 231% (if you use the compound interest formula (1+0.5%) ^(20*12)-1). This return by any standard is sufficient to provide a steady income. The simple interest return is achieved by using a level lot size for all trades. Compound interest is achieved by increasing the lot size in proportion to the profits made so far.
There are two ways that we can achieve diversification, using different assets (currencies) and using different timeframes.
Asset diversification: For the success of the strategy, we need to create a very well-diversified portfolio. This means we must open a position in many different pairs. This way, if we get a false signal in 1 or 2 positions, the profits from the other positions will help to achieve the overall objective.
Time frame diversification: The indicator in use could show different signals depending on the time frame. It does not necessarily mean that one is wrong it may be that there is a retracement. Therefore, diversifying on different time frames gives you an edge by earning short-term profits as we wait for the price to follow the longer-term signal. This will bring us closer to achieving our objective.
Note that if the signal changes direction, the position will close so long as it is profitable. If it is not in profit, the position will go under Position Management described below.
In most cases, the account will have achieved the target return but there are still open positions that are running at a loss and need to be managed without losing the profit already made. There are two tactics used to exit from these positions.
Tactic 1: We wait for another signal that supports the current position that has gone wrong. Then we open another position at a better price with a higher lot and put a take-profit at a price close to the average open price. We will repeat this process if we get more signals at better prices. This way the exit point moves closer to the current price, and we will eventually exit with a small profit.
Tactic 2: Since we have already achieved our target for the day, we can redirect any additional profit to neutralize open positions with high running losses. We achieve this by finding the pair with the highest loss, then locating the oldest position in that pair and closing it in full or in part in proportion to the extra profit earned.
With the application of this and many other algorithms, my EA can take any indicator and generate consistent profits while managing risks properly so that you don’t wipe out your account. You can check out the results of the strategy on my signals page https://www.mql5.com/en/signals/author/augustinekamatu
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DISCLAIMER: Please read carefully before you decide to invest in Forex Market
- Forex Trading is dangerous and can result in a substantial loss of money. Due to the uncertain nature of the Forex market, there is no guarantee that our products will produce any favorable results. Before you purchase, please read our RISK DISCLAIMER.
BEAR THIS IN MIND: The Forex market changes from day to day, and that past performance can therefore not be guaranteed to repeat in the future. Past performance shown and in videos may use aggressive trading approaches and risk management to prove the potential of the Forex robot over long periods. Because of this, we recommend that you test the EA on your own broker account using many variations of currencies, time frames, and settings to make sure you experience favorable results in current market conditions before trading live accounts.
- Forex Trading EA/Robot is just a piece of Programming to Sophisticate your trading but never guarantee your winning.
- Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. No representation is being made that any account will or is likely to achieve profits or losses similar to those that may be shown.
- Past performance is not indicative of future results. Individual results vary and no representation is made that clients will or are likely to achieve profits or incur losses comparable to those that may be shown.
- Before deciding to trade products, you should carefully consider your objectives, financial situation, needs, and level of experience. The possibility exists that you could sustain a loss of some or all your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose.