hi Fellow Traders,
Greetings of the day.! I have been doing manual trading & EA trading for a little less than 4 months now... (so i m quite new to this).. in this short time, i learnt MQL coding, I did my first script too (I am not a coder by the way, I am an Automobile engr and in that core profession). this script, i run it at the end of week session, to download the history data of a set of 30 pairs (which i follow), to analyse the market movement... basically all these are potential PIP profits (Sky is the limit right).. I know this is a Whole Lot in the Market and even if we can take 0.0001% of that, we would make profits in 100Ks every month... Now most of the EAs, i have used so far (6 or 7 of them), are Scalpers, basically built on GRID Trading & MARTINGALE Strategies... I dont trust the back testing method, i rather, run the EA in a demo account for 2 months, before deploying them in the real account, if the performance was convincing in demo environment..
Even though i made money, i did lose a lot on the Dooms Day with huge draw downs.. with such a flip side, i m scared and i cant convince myself to have a bigger account... at present i am limiting myself to a $500 or $1K account to the max.... But i want to overcome this problem of draw downs with Grid Trading / Martingale... infact, I dont want to trade Grid trading / Martingale method EAs either... I hv to rely on EAs to do my trades, as i m not a day trader to sit for trading.. the Account balance growth can be reasonably slow, but the drawdown should b very minimal or even ABSOLUTE ZERO...
I hv a thought in mind (dont know if this would work as a strategy)... my idea is to have an EA on any pair's 4hr chart, (since 4 hr charts have considerably significant pip movements), have 2 trades for each Candle at OPEN Price, one Buy & one Sell... so at any point, there is only 2 trades per pair.... capture every pip movement in that candle.. like tracking the HIGH of the Candle as TP for the buy trade and LOW of the Candle as TP for the Sell trade...with trailing stops to minimize any potential big loss..
Now, I dont know if this is possible.. but hv seen indicators tracking HILO of candles.. if we can have an indicator for HILO, can we not have an EA to capture the pips between HILO.. Expert traders & Senior coders, I look forward to your comments & suggestions....
Greetings of the day.! I have been doing manual trading & EA trading for a little less than 4 months now... (so i m quite new to this).. in this short time, i learnt MQL coding, I did my first script too (I am not a coder by the way, I am an Automobile engr and in that core profession). this script, i run it at the end of week session, to download the history data of a set of 30 pairs (which i follow), to analyse the market movement... basically all these are potential PIP profits (Sky is the limit right).. I know this is a Whole Lot in the Market and even if we can take 0.0001% of that, we would make profits in 100Ks every month... Now most of the EAs, i have used so far (6 or 7 of them), are Scalpers, basically built on GRID Trading & MARTINGALE Strategies... I dont trust the back testing method, i rather, run the EA in a demo account for 2 months, before deploying them in the real account, if the performance was convincing in demo environment..
Even though i made money, i did lose a lot on the Dooms Day with huge draw downs.. with such a flip side, i m scared and i cant convince myself to have a bigger account... at present i am limiting myself to a $500 or $1K account to the max.... But i want to overcome this problem of draw downs with Grid Trading / Martingale... infact, I dont want to trade Grid trading / Martingale method EAs either... I hv to rely on EAs to do my trades, as i m not a day trader to sit for trading.. the Account balance growth can be reasonably slow, but the drawdown should b very minimal or even ABSOLUTE ZERO...
I hv a thought in mind (dont know if this would work as a strategy)... my idea is to have an EA on any pair's 4hr chart, (since 4 hr charts have considerably significant pip movements), have 2 trades for each Candle at OPEN Price, one Buy & one Sell... so at any point, there is only 2 trades per pair.... capture every pip movement in that candle.. like tracking the HIGH of the Candle as TP for the buy trade and LOW of the Candle as TP for the Sell trade...with trailing stops to minimize any potential big loss..
Now, I dont know if this is possible.. but hv seen indicators tracking HILO of candles.. if we can have an indicator for HILO, can we not have an EA to capture the pips between HILO.. Expert traders & Senior coders, I look forward to your comments & suggestions....
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