Hello everybody,
just my few thoughts about that EA, regardless wether it is single or 3 basket :
MMTU : For example I have a Alpari UK micro account with down to 0.01 lot sizes and a MAX MMTU total of 2.0 lots. Also there is a 100 trades limit.
Thus I calculate : 2.0 / 100 = 0.02 lots base size to have optimum usage of my account. Now, for every 1000 eur I will use 0.01 lots, thus brings me up to not trade all of the EAs below 2000 EUR at least.
And my rule of thumb is for every 0.01 lots = 10 euro profit, 0.02 = 20 euro and 0.03 = 30 euros.
So at 2000 Euro account size I will use 0.02 lots and pp of 1.0 maximum.
If you run higher lot sizes on a micro account, you will soom be no more able to add trades to the account.
Now, some thoughts about the profit target : wouldn't it be a good idea to insert a break even strategy for each trade that already went positive (don't let a winner turn into a looser) ? I mean if we set a profit target at the beginning of a basket and have some positive trades already, why should we let them turn against us BEFORE the basket target is reached ? Close them out at least at break even or some choosable amount of pips and let rest run on ...
I hope you understand what I mean, sorry for my english too
just my few thoughts about that EA, regardless wether it is single or 3 basket :
MMTU : For example I have a Alpari UK micro account with down to 0.01 lot sizes and a MAX MMTU total of 2.0 lots. Also there is a 100 trades limit.
Thus I calculate : 2.0 / 100 = 0.02 lots base size to have optimum usage of my account. Now, for every 1000 eur I will use 0.01 lots, thus brings me up to not trade all of the EAs below 2000 EUR at least.
And my rule of thumb is for every 0.01 lots = 10 euro profit, 0.02 = 20 euro and 0.03 = 30 euros.
So at 2000 Euro account size I will use 0.02 lots and pp of 1.0 maximum.
If you run higher lot sizes on a micro account, you will soom be no more able to add trades to the account.
Now, some thoughts about the profit target : wouldn't it be a good idea to insert a break even strategy for each trade that already went positive (don't let a winner turn into a looser) ? I mean if we set a profit target at the beginning of a basket and have some positive trades already, why should we let them turn against us BEFORE the basket target is reached ? Close them out at least at break even or some choosable amount of pips and let rest run on ...
I hope you understand what I mean, sorry for my english too
"We are all just prisoners ... of our own device ..." (Hotel California)