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Trade in parallel mode?
How does parallel mode work?
The EA only requires one chart to operate and can trade up to 21 currency pairs. To enable parallel mode, you need to add the EA to two separate charts. Keep the settings the same but modify the signal type and magic number. This will activate the EA's parallel mode.
For instance, in one chart, you can set the EA to use a normal signal, while in the other chart, you can configure it to utilize a reverse signal. This allows the EA to trade concurrently in parallel modes, employing different strategies based on the selected signal types.
To learn more about signal types, visit: https://mt4talk.com/viewtopic.php?id=25171
For further information on magic numbers, refer to: https://mt4talk.com/viewtopic.php?id=25172
In parallel mode, when utilizing both the parallel normal and parallel reverse settings, you have the opportunity to balance potential losses and gains. This approach allows you to benefit from different market conditions and trading strategies simultaneously.
Let's dive deeper into the example of parallel normal and parallel reverse settings:
In the parallel normal setting, the EA will execute trades based on a regular trading strategy, seeking opportunities aligned with the selected indicators and criteria. It focuses on capturing favorable trends and movements in the market, aiming to generate profits from these upward movements.
On the other hand, in the parallel reverse setting, the EA employs a reversed strategy. It monitors the market for potential trend reversals, overbought conditions, or signs of a market correction. When such signals are identified, the EA enters trades in the opposite direction, aiming to capitalize on the potential downward movement and generate profits from these counter-trend opportunities.
By utilizing both parallel normal and parallel reverse settings, you can diversify your trading approach and potentially mitigate losses. If one setting experiences a loss due to adverse market conditions or incorrect signals, the other setting may compensate for it by generating profits from different market movements.
It's important to note that employing positive martingale settings in one of the parallel modes introduces an increased position sizing strategy. Read more about positive martingale settings at https://mt4talk.com/viewtopic.php?id=25173
This approach aims to maximize gains in one mode while maintaining a controlled risk profile in the other. However, it's crucial to exercise caution and thoroughly backtest any martingale settings to understand their potential impact on your overall trading strategy and risk management.
Remember, thorough analysis, proper risk management, and continuous monitoring of your trading activities are essential when using parallel modes and different strategies. Regularly evaluate the performance of your chosen settings, adapt as necessary, and stay aligned with your trading goals and risk tolerance.
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Latest profit posts from the Trade Executor EA users.
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