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Please refer to:
https://apiaryfund.com/forum/metatrader … -scripts-0
These are programs that are designed to automate the tradingprocess by identifying where to enter trades, how many lots to buy/sell, where to place stops/targets and how it will trail any position to maximise potential profit. They generally update every time a new tick arrives.
Sounds great doesn't it.
The problem is, when a human looks at a chart, there isfrequently a large amount of subjective data that the human can make sense of easily. e.g. a Human might say, enter when the fast MA crosses the slow MA and the RSI is NEAR 50. But what does NEAR actually mean? The EA likes to work with absolutes, and some of the things we lack in trading are absolutes.
Consequently, putting all the rules that you use forentering/managing a trade into an EA is not always straight forward, often produces unexpected results, and can easily lead to "curve fitting" e.g. optimising the output of the EA to return as high a profit as possible but only for a specific set of circumstances.
These allow you to create variations of existing indicatorsor completely new ones based on whatever set of rules you wish and to display them on the charts or below in the data windows. Indicators cover such things as moving averages, histograms, plotting text above/below bars and changing bar colours based on the coded rules. These are adjusted every time a new tick arrives but depending on the nature of the data being processed may need a certain number of bars to have been posted (e.g. a 10 period MA will need at least the previous 10 bars to provide a value).
I noticed some of you had some large losses this week with some of the announcements - first off if you want to reduce your risk don't trade pairs that trend heavily. some pairs trend much more than others and are much more volatile than others - if you want a low risk pair trade USD/CHF or EUR/CHF they generally move much smaller amounts than your CAD or JPY pairs. This bot is very profitable but you still have to do your homework - don't jump in a pair that is bouncing heavy unless you have a very large deposit, and make sure you change max trades at the bottom of the settings. It is set to 10 by default but I have had several go over 10 open trades.
https://www.oanda.com/forex-trading/ana … volatility
Check currency correlation
https://www.oanda.com/forex-trading/ana … orrelation
Check both of those before you start it on any pair - if you notice the volatility you can see over a week how many pips something is moving, you should notice on your charts if you go out to 1H or 4H if it is having 150 pip moves with very little draw back don't get in those - lol stick to pairs that have smaller bounces - NZDUSD is another one that generally has much smaller moves
If you don't want to lose all of your money do your research before just set and forget
I lost $980 is what I had on gbp-usd .01 starting I really needed $5000 like you said Misty it was a gigantic move today. I feel sad for sure .
My result today trading of EURUSD and EURGBP,it was a surprise of how the market are moving for today,but it'll drop by tomorrow or so.....
I am trading 2000 pips EA in Demo. I had no guidelines for timeframe, suitable pairs etc. It has been moving along nicely, although it went into a big drawdown( >20%) when it kept selling G/CHF which kept rising. The G/CHF has now reversed and we are back in profit. With some experience and some tweaking, we might get 10% or more weekly from this one, but more results later.
Does anyone know what's the best months to use this forex program,
So far I learn this
Thee THREE worst months (Summer): June, July, and particularly, August.
The FOUR best months (Autumn): September, October, November, and December.
The FIVE good Months (Winter-Spring): January, February, March, April, and May
The best month to use this robot, it's when the market are not moving much,
There're some month is moving really quick and fast,so the point forex robot can't catch up,
-So I been really careful with end of the month of analysis of which way it going straight down or up
Just wanted to add my 2 cents - Thank you to Misty for getting me started on this one
I've ran this for a couple weeks now - this week on a live regular account ran 2 pairs ( I switched them constantly to make sure they weren't trending together) Oanda actually has a nice tools if you just google currency correlation you can get an idea of whats moving together. changed lot exponent to 1.26 and tp to 40 and pip step to 40
I survived the thru a 90 pip and a 60 pip move against me with these setting in a regular account with $600 - I actually had room left to spare and that is on a 200:1 leverage. Long story short if you monitor your pairs and keep an eye on it this is very profitable made over 10% on that account this week
also ran on a 500:1 cent account and was up 40% on the week with a $150 deposit but I did not get so lucky on Wednesday after the USD had the mini crash of POTUS comments to WSJ I was running it on all default setting but running 4 pairs on .2 lots again find ones not trending or you could end up in a bad place. I got stuck in EUR/USD and AUD/USD against me and AUD had unemployment rates coming out Wednesday night so I cut my losses on the AUD pair and lost the 40% I was up so it was a break even on that account for the week
Just so you know how close I was to MC on that one I closed out the other pairs when I saw it moving against me so I only had those 2 open - once my lot size on those 2 had opened so many had a lot of 10.33 open actually was largest lot open I had to turn off auto trading - I knew it was so high it had to come back but I was very close to margin call on the cent account so I just turned it off and waited for it to come back - of course it did so I recouped some of what I had lost on AUD but still a very good week for me
moving average has used digital for counter trend rally base
Laguerre moving average cross
Enter gamma between .01 and .99 for each moving average
You must use the attached Laguerre-moving-average for the EA to work.
this is actually one of the best explanations I have ever heard on moving averages and how to understand them....
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