You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
i got the code for long and short,and it is totally working as i expected it to be, now i will start working on combining it and then adding risk management in it, i will kepp you all posted about my work
the best strategies are always the simplest. i use two to three strategies and they are the simplest.
1- i enter short at upper envelope and long at lower envelope. i tune the envelope for each pair separately, there is one percentage of envelope from where the price rejects or takes supports 70% of the time.
2-my second strategy is even simpler,i wait for a daily crossover of 5 and 8 ema and then i wait for retracement to 8 ema daily. and take enty in the direction of cross over.
3- i simply draw a trendline on 4hr TF and enter on its third testing.
All of these may sound very simple and naive, but they work for 70% of the time. but now i am facing the problem of missing the trades when i am away, and i miss most of the trades because i was not watching. So now i want to make an EA which covers all these three strategies, my first one is the one with the envelope. i believeits not about the strategy but about the risk management.
No thanks, people have already made these EAs centuries ago!
i want to ask one last thing, that if trading is all about setups and following the rules and not involving emotions, then why does everyone do manual trading why does not everyone makes an algorithm of his setup?
my risk management is also defined, i take 0.01 lots for every 500$ in gold. my tp is 100 pips close half,and full close if its only 0.01 and sl is also 100 pips. remaining half is closed when other side signal,or breakeven sl.i have kept it very simple. the coding the setup part is easy,but coding the risk management is very tough
I'll tell you exactly why. Having an automated trading algorithm which capitalizes on market opportunities is one thing, but remember that the automated trading system also needs to employ risk management.
can i share code here?
You can submit your codes here if you wish:
https://www.mql5.com/en/code/my