Trading With An Expert Advisor

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Hello Everyone,

Some EAs look very promising, but I am running into issues. How can I set the volume of a trade placed by an EA? 

 Thanks,

 V 

 

Most EAs will give you 2 options. To set a fixed lot size (i.e. 0.01 or 0.10 lots etc.), or to use MM (money management) settings.

In that case your lot sizes will increase when you balance increases and decrease when your balance decreases.

 
Eleni Anna Branou:

Most EAs will give you 2 options. To set a fixed lot size (i.e. 0.01 or 0.10 lots etc.), or to use MM (money management) settings.

In that case your lot sizes will increase when you balance increases and decrease when your balance decreases.

Thanks for your quick reply. However, a quick search for "meta trader 5 money management" is only bringing up scripts and other unrelated articles. How can I use the money management settings in Meta Trader 5 to change the lot size for a specific EA? 

 
The lot size has to do with the SL your EA uses and the percentage of risk per trade. You have to try different settings of 1%, 2%, 3% or more to see if that lot sizes suit your trading style.
 
Eleni Anna Branou:
The lot size has to do with the SL your EA uses and the percentage of risk per trade. You have to try different settings of 1%, 2%, 3% or more to see if that lot sizes suit your trading style.
I can not find settings for the lot size in the EA inputs window. I don't believe there is lot input. Also, I am unable to find the money management settings in MT5. I feel like I have clicked everywhere. Can you shine the light on me?
 

The MM settings are not in MT5 platform, but in your EA's settings. You will adjust these settings before you load your EA and enable auto trading.

If MM settings aren't there, then your EA doesn't have MM features. 

 
Eleni Anna Branou:
The MM settings are not in MT5 platform, but in your EA's settings. You will adjust these settings before you load your EA and enable auto trading.
The EA uses a CMoney objects. I'm not sure that it is a specific input.
 
I am not familiar with Cmoney objects. Maybe someone more experienced will give you the solution.
 
Eleni Anna Branou:
I am not familiar with Cmoney objects. Maybe someone more experienced will give you the solution.
Yes, thank you for your help anyway.
 

Here is the code for the EA. It is Parabolic SAR right? None of the inputs relate to lot size I believe. Here is a screen dump of the inputs. See inputs.jpg.


Files:
ExpertMAPSAR.mq5  7 kb
 
PublicImageLtd: Here is the code for the EA. It is Parabolic SAR right? None of the inputs relate to lot size I believe. Here is a screen dump of the inputs. See inputs.jpg.

That is an bare minimum example/sample EA by MetaQuotes, meant to be as a "tutorial" for developing your own EAs.

It does not have any Money Management and only uses minimum lot size. You would have to modify the code to be able to add the functionality.

Since you are obviously not a coder, you have the option of:

  • ... using other EAs available on the Market or in the CodeBase.
  • ... hiring someone to make the changes for you.
  • ... learning to code in order to change it yourself (which could take months if not more).
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