Trading Robots for MetaTrader 5
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MetaTrader 5
Top Rated Products MT5
Overview
Hello & welcome. Have you ever held a losing position, hoping that it will eventually return to profit? All the while it increases your draw-down, handicaps your account, undermines your confidence, and you're paying swap fees for the privilege. This is bad trading.
Actually its worse than bad trading, its ruinous for both your account and your aspiration as a trader.
If the above is an example of a bad trade, then the opposite must be true? A good trade is one which you can safely hold, for as long as the trade moves increasingly into profit.
To help promote this behaviour, and best practice; I have an almost universal EA, which works well across multiple currencies, indices, and metals. As per the above, the EA is programmed to open positions at the start of an enduring trend. It is permitted just 1 loss per day. SL is also pre-determined, but can be changed.
Limiting the stop-loss, number of losses per day, recommending you use minimal risk level and supervise activity - these should all help to preserve equity.
Due to the risky nature of EA's, trading hours are restricted by default, to GMT 8am to 8pm. The bot works best, if you initially add to instrument, and set the risk level to its lowest possible setting. The user should monitor the daily performance and only increase risk once confidence increases (over weeks, months, etc.). I also recommend any manual trades are adding to positions which have remained in profit for minimum 3-5 days+. Best to think of any EA as a hybrid system - a supplementary trader rather than give it absolute autonomy.
EA works well on:-
- AUDCAD
- AUDUSD
- EURAUD
- GBPAUD
- GBPCAD
- EURJPY
- EURCHF
- EURNZD
- GBPJPY
- GBPNZD
- NZDUSD
- USDCAD
- USDJPY
- EURNOK
- FTSE, DAX, JPN, ITA, HK
- PLATINUM
Settings:- I have intentionally limited the number of variables for the user, to ensure repeatable, consistent results for all. SL, days / hours of trades, risk level, these are the main settings. So its very robust. There is no take profit, its entirely up to you (and that's the easy part ;)
I can only give limited support due to work commitments. If you have previously installed a bot, this should be straightforward. None of the above is financial advice, use the EA at your own risk.
I hope you will find this EA transformative and invaluable. KR, Mark
