AI Inputs and Details

AI Inputs and Details

22 November 2022, 09:45
Prince Okoya Obi
0
396

Frequently Asked Questions

Is it a martingale or grid strategy?
No nothing risky at all.


What kind of account should I use?
Preferably, a low spread (ECN, Raw) account with at least 1:30 leverage is advised. 


Can Vela pass the FTMO challenge?
The EA is not trained specifically for the prop firm challenges but in backtests. the EA backtest of past couple of years shows low DD ,  Having said that, YES, it could possibly pass the challenges but with your own responsibility 


My symbols have prefix or suffix, what do I do?
Leave symbols to trade as they are and in the inputs as it handles the suffix and prefix automatically.

How to backtest the EA properly:
When using MT4 for backtesting, you are restricted to testing only one symbol at a time. Adjust the inputs to include just one symbol and use the "every tick" option. For multi-symbol support and precise results, consider MT5.


How much profit can I make per month?

It is usually around 10 percent with 1 percent risk  (some fluctuations could occur due to market conditions)



Does it support hedge accounts only?
Yes. EA MUST be run on hedge account only for optimal performance


What is an approximate drawdown per month?
Usually below 5% if 1% risk per trade is used 


Drawdown in the backtest is low, should I use a higher risk percent?
it is your choice but we recommend keeping it at 1% risk in case the market starts acting abnormally 


What if my account is in a different currency than USD?
It doesn’t matter, EA handles it automatically including uncommon currencies but if there was a new currency that the EA has problems with, we will fix it immediately 


Can EA run alongside other experts? 
Yes, but make sure that all your expert advisors have different magic numbers


Is there a Telegram channel?
Yes, there is  . Please private message me to get an invitation .


How often do you plan updates?
Our EA is perfect as it is right now. However, if need be, we make updates based on market trends

 
How to start the expert:
Run EA just on just one chart it can be any symbol and any timeframe.


How to fix error 4752?
This error indicates that you’ve not enabled auto trading. In order to fix this, you need to perform two tasks:
Firstly, the “Algo Trading” button on top of your Metatrader terminal should be green (enabled)
Then in expert settings in “Common” section, the “allow Algo trading” box should be checked as well 


Are the default settings good?
The default settings are great but you can change them according to your style of trading.


What is the minimum recommended start balance?
can be low as 200 USD


How to fix error “Indicator ‘Average True Range’ cannot load”?
It means the history of charts are not loaded, to fix this, open all the charts of the symbols you included in the symbol list and let the charts load


How to increase traded lot sizes?
One of the simplest ways to increase the traded lot size is by increasing the Risk of each trade (%) or to make use of fixed lot. 


What determines the T/P?
The ai is trained through out the market and base on what it learned it will decide on how much profit it can get from any position


What determines the S/L?
Just like the T/P, stop loss is determined by how much room a position needs to hit the target.




Inputs Details


Enter the pairs you want to trade

The input string allows you to specify the trading pair to operate on, such as XAUUSD and no need to enter any suffix or prefix as it detects it automatically.


    Magic number
        The integer value serves as a unique identifier for trades executed by the expert advisor (EA). This helps differentiate trades made by this EA from others, ensuring proper tracking and management of open positions.

    Define order comment
        The string input allows you to assign a custom comment to each order. This comment is added to the trade details, making it easier to identify and manage trades when reviewing them in your trading platform.

    Set lot calculation method

        This input specifies the method used to determine the lot size for trades:

    1. Applying a constant lot size strategy: a fixed lot size for all the trades.
    2. Risk by balance percent: EA trade lot is calculated by its Stoploss in a way that each time it hits SL it will lose exactly specific percent of the balance.

    Risk percentage per trade
        A double value that defines the percentage of account balance to risk on each trade.  If " Risk by balance percent " has been chose.

    Set fixed lot size
        The input specifies a fixed lot size for trading. If " Applying a constant lot size strategy" has been chose.

    Define maximum trades number
        An integer value that limits the total number of open trades allowed simultaneously. For instance, 10 ensures that no more than ten trades can be opened at any time, helping to prevent over-leveraging and excessive market exposure.