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Simplest Hedging EA ever
The EA doesn't use any indicators. Instead, it simply and blindly opens two opposing positions at the beginning of the first new bar it comes across. It waits until both positions have closed by hitting their stop-losses or take-profit levels, and then opens the next pair of positions.
After optimisation manually select the best result where the stop-loss is lower than take-profit level, in which case each pair of trades will have one of the following outcomes.
********Both positions win
************* One wins and one loses (in which case the winner covers the losses of the loser)
******************Both lose
mo_bidir_v0_1(1).mq4 1.11 kb, 85 downloads since 2014-10-09
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About the mo_bidir_v0_1 EA
https://mt4talk.com/viewtopic.php?pid=1896#p1896
This EA works best on the 5-minute timeframe, perfect for quick trading actions. It automatically places buy and sell orders when certain conditions are met. This means it doesn't pick sides; it's ready to profit from whichever direction the market goes. Plus, it comes with built-in stop loss and take profit levels to manage your risk.
How this EA Works:
Stick to the 5-minute chart to maximize mo_bidir_v0_1's potential.
When it's time to make a move, mo_bidir_v0_1 will place buy and sell orders simultaneously.
It sets up stop loss and take profit levels for each trade to keep your risks in check.
Adjustable Parameters:
Lot Size (lots): This parameter allows you to decide how much you want to trade. If you set it to 1, you're trading one standard lot. It's like choosing the size of your bet.
Stop Loss (stop_loss): It's the maximum loss you're willing to accept for a single trade, measured in pips. You can set it according to your risk tolerance. A value of 80 (8 pips) is the default, but you can optimize it between 50 and 2000.
Take Profit (take_profit): This is your profit target. When the trade hits this level, it automatically closes, securing your gains. The default is 750 (75 pips), but you can adjust it between 50 and 2000.
Beginner-Friendly for those just starting in Forex, the EA simplifies the process. Its straightforward strategy and predefined settings make it easy to use.
With built-in stop loss and take profit levels, you can manage your risk effectively. This means you won't lose more than you're comfortable with.
The 5-minute timeframe means you don't have to wait too long for results. It's perfect for traders who prefer quick actions.
The bidir_v0_1 is not a hedging EA. It's a simple trading EA that is designed to place both buy and sell orders simultaneously when certain conditions are met. It doesn't engage in hedging strategies where it would open opposite positions to offset each other's risk. Instead, it aims to profit from price movements in either direction without using hedging techniques.
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