This is a multi-currency EA, with suggested timeframes: H4 and Daily.
Type of trading
- This is intended to work as a Multi-Currency EA.
- You can attach it to many charts you’d like to monitor simultaneously.
- Make sense to use it when there is a correlation between the pairs or other instruments selected.
- It has been said that one of the best trading strategies is to watch who actually moves the market (large traders, banks, etc.) and copy them. Someone ironically says to “follow the big sharks” move into the market.
- With this EA, we will launch a “bait”…a small order that will trigger a bigger order onto another chart that moves with the same intensity as a confirmation. In this way will take advantage of the correlations between all the markets!
How should be used
- You should attach this EA to the major’s Forex pairs charts or any other financial instrument and wait that the price will breakout (calculated with an internal indicator).
- Once the first pair will launch the bait with a small order (like 0.01 lots), all the other EAs attached we will keep monitoring this order and wait for another breakout to go fishing within a time window set previously.
- With the second breakout, they will try to catch a big fish with a bigger order (like 0.1 lots).
- Bait Lots: the lots used for the 1st trade, which we will call “Bait”.
- Fishing Lots Of Multiplier: the “Bait Lots” multiplied by this value. These lots will be used for the 2nd trade, which will be called “Fishing”.
- General ATR Multiplier: this is the main ATR indicator value used to calculate the Stop levels. Value 1 = original value. Value 2 = doubled. Value 0.5 = divided in half, etc.
- Max mins wait to go fishing: how long should we wait for the 2nd trade.
- Max mins to keep the bait: time windows where the 2nd trade can be opened after the 1st trade has been placed.
- Max mins to keep fishing: how long should we keep the orders open.
- Money management will be fixed only because of the nature of this EA. Auto lot-sizing can be useful while only a single EA runs on the same account, but multiple EA can conflict with each other while calculating the free margin available, especially in this case where every pair will have a different tick value and needs to be calculated manually by the trader.
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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.