My goal is 2 to 4% growth on my account each day, depending on the movement of the market. For the last three weeks I have averaged about 6% daily. This is the best I have ever done. I will do my best to keep it up until my broker says "max lots reached!" And then I will open two accounts and start over again.
I think it would be better to count the % based on the margin used, rather than equity. That would be equivalent of nearly fixed number of pips per week/month. The % gain over equity would be low, but would be consistent over the margin used in execution of the trades you made. On the contrary, since MQL5 signals open trades for subscribers based on their equity percent vs signal provider's equity (and not fixed lots), it wouldn't make sense to keep consistency over margin only. In this case, I would look for a gain of certain percent of margin used, before increasing future trade lots.
In other words, what I mean is that an unexpected bumpy trail would have your already red lined tachometer be in trouble, scaring your passengers at every corner... "consistently". I'm suggesting that % gain over margin used be considered the tachometer reading, % gain over equity be the speedometer reading and number of lots be the gear. So you wait until the red line has been touched, i.e. quench the gear limits (keep using the same lot until you have gained a target % over margin). Move on to next gear and wait till the next red line.
With this analogy, the redline is more attractive and less scary! And when zoomed out after a year, the equity curve would be lovely.
Hope I made sense. Thanks for sharing your experience and wisdom. Makes me comfortable being here!
This is an open interest indicator for MetaTrader 5. It fixes open interest value once per minute and writes it to the file (on your PC). The product works on any timeframe but only with exchange instruments.
VirtualTradePad - is a contol panel for working with orders in МetaТrader 5 : buy, sell, buystop, buylimit, sellstop, selllimit, close, delete, modify, tralling stop.
VirtualTradePad won 2nd prize in the "Best Control Panel in the MQL5 Language" Contest.
The panel consists of 5 tabs.
VirtualTradePad PositionsStyle VirtualTradePad Ordersstyle VirtualTradePad SignalsStyleDemo version of the panel - VirtualTradePad LiteProfit or Loss PadINFO PadYou can also try this panel for
Fast Copy MT5 allows you to copy trades between different MetaTrader 5 (netting)(hedge) and MetaTrader 4 accounts in any direction and amount, quickly and easily (without loading the system).
Any type of copying is available
MT4 → MT5 MT4 → MT4 MT5 → MT5 MT5 → MT4
* For the MetaTrader 4 terminal — Fast Copy MT4
* For the MetaTrader 5 terminal — Fast Copy MT5
** Before the purchase, you can test the program by downloading the free demo versions — Fast
Percent Crosshair is a powerful and easy percentage measure tool.
Measure the chart percentage very quick! Don't waste your time anymore!
Just attach the Percent Crosshair indicator in the chart, select crosshair mode at toolbars or press "Ctrl+F" and start using the crosshair as you always do! The percent measure will be next to the indicative price.
Customize your indicator the way you want!
There are 4 entry parameters:
Positive % color: set the desired color when % is positive. Negat
Does not support openning multiple orders on a single symbol on MT5
MultiMTCopier MT5Source - new and improved multi-terminal positions copier for your real / demo account, works faster, requires less, flexible in managing and upgrading, new information support. This expert is designed for terminal MetaTrader5 from which the position will be copied.
The EA will copy all positions without delays Additionally integrated notification in situations requiring user attention Butt
The indicator is designed for easy construction of synthetic charts based on data of various financial instruments. It will be useful both arbitrage and pair trading, as well as for analysis purposes. Its main advantage is simplicity and clarity. Each chart is given as a common mathematical formula. For example, if you want to plot the spread (difference) between EURUSD and GBPUSD with coefficients 4 and 3, then set the following formula:
EURUSD * 4 - GBPUSD * 3
The resulting chart is shown in
All traders using VSA realize the importance of the volume. Unfortunately, tick and spot volumes are not suitable for these purposes.
I have conducted mathematical calculations and managed to trnsform the price into the volume that is close to the futures one by its ratios. Now, you do not have to wrestle with the question of where to obtain the volume data. Besides, you will be able to use the currency pairs having no futures at all. With RealVolume, you do not need to remember data on each ti
Create your own list of trading instruments Watch list* and combine it with several open charts Link **.
Using this program, a user can create fully-fledged Watch lists, create and delete trading instruments and move through the list.
A selected symbol shows charts in linked windows. Linked windows can have different periods, indicators, experts, trading panels, etc...
Moving through his/her Watch list, a trader an see the full image of his/her strategy in all windows.
A lot of traders use 1
The script is intended for automatic placing of Buy Stop pending orders, Stop Losses and Take Profits on the user specified levels.
Avoiding unwanted entering a long position in case of false hitting the level as a result of widening of the spread by a dealing center. Avoiding unwanted triggering of a Stop Loss in case a quote pierces a significant level (fractal) without further confirmation with the close price. Setting a necessary virtual order and entering the market in
EA PENDING ORDER bars
All the strongest movements occur only during the news. However, it also happens that the news on one currency pair influences other currencies, though no news was released for them. For this Expert Advisor, I do not use news lists or indicators (which are late anyway). The principle of the Expert Advisor operation is quite simple.
EA Pending Оrder bars places BUYSTOP and SELLSTOP pending orders at the distance equal to the arithmetic mean value of the last bars' height o
The main purpose of the indicator is to detect and mark on a chart the following trade signals described in "New Trading Dimensions":
Bullish and bearish reverse bars with angulation (including squat). Bars in the green and red zones according to the histogram color of Awesome Oscillator and Accelerator Oscillator. Bars in the grey zone, when the Awesome Oscillator and Accelerator Oscillator histograms below these bars have opposite directions. Blue squat bars on chart independent of the
Trade Controller provides multiple methods to protect and maximize your profits. This powerful weapon helps you to set the protect and trailing-stop rules on your trade automatically in many effective methods. Once it is set and turned on, you don't need to monitor your orders anymore, the software will keep watching and control your orders with your predefined rules.
It's designed to support multi-protection and trailing strategy: Protect by break-even, protect by percentage, protect by pip, p
The script is intended for automatic placing of Sell Stop pending orders, Stop Losses and Take Profits on the user specified levels. This script is not that useful as "Virtual pending buy stop", since short positions are opened as Bid price crosses the levels. Thus spread widening is not dangerous. Nevertheless, you need to have this script to prevent unwanted hitting of the Stop Loss levels.
Automation of the process of placing the Sell Stop pending orders, Stop Losses and T
Volume is an important indicator in combination with price movements.
Volumes Overaverage Notifier informs you when activity is entering the market.
This indicator is able to notify you via push notifications, alerts, sounds and emails when it is recognizing rising volume above a customizable level.
The volumes histogram is divided and colored in 4 different parts - low, normal, high and ultrahigh volume levels.
Low volume zones are drawn as a rectangle into the chart.
How to Use
Three variables are available for every strategy, any one of them can be disabled, their period can be changed.
type_order=ORDER_FILLING _FOK - order filling type.
ReverseTrade=false — trades opens in reverse direction if true. ExitOnBar=true — trades close on each bar only. spreadcover=false — Spread you pay includes in profit trades. It's like trade with zero spread but you should remember that it can decrease exact match between tester's result and live one. It
This is an utility for automatic scaling of a chart and making at least 140 bars visible in it. This is necessary for a correct wave analysis according to the Bill Williams' strategy "Trading Chaos". The utility can be used on any timeframe available in МetaТrader 5.
It draws a vertical line through the first bar the calculation starts from. This line allows you to see the probable starting point of the wave sequence along with a sufficient number of bars displayed in the chart. It also makes t
Cluster analysis of volumes is now available in MetaTrader 5!
The YuСlusters indicator is a professional tool for analyzing the trading volumes. The cluster graph is plotted based on tick data. For the exchange financial instruments these are the volume, type and price of a deal. For the Forex instruments - the real or tick volume (depending on the broker) and Bid price.
There are 6 criteria of cluster generation:
Time interval, the criterion is set in seconds. Price range, the criteri
The indicator is intended for determining the spread and swap size, the distance for setting stop orders and stop losses from the current price allowed and the risk per 1 point in the deposit currency.
The indicator informs a trader about possible additional expenses and profits connected with transferring a position to the next trade session of the financial instrument. It also informs about the spread size and the distance of pending orders, stop loss and trailing from the current price. In a
FULL Automatic is a fully autonomous trading robot for MetaТrader 5 without configurable parameters.
It is similar to SAFE Automatic robot intended for traders having no knowledge of trading basics. It works in Low, Medium, High and Extremal trading modes.
The EA applies modified versions of well-known strategies, including Elliott waves, following a trend, half-pyramiding, scalping, speculative trading with a double deposit protection. The EA switches the strategies automati
Find Shoulder-Head-Shoulder chart patterns easily with this indicator.
Easy to use Customizable colors and sizes It implements breakout signals It implements alerts of all kinds
Indicator Settings - The amplitude represents the size of the patterns to be found. The max. history bars parameter is the amount of bars in the chart to look back.
Less bars to evaluate means the indicator will load faster. Patterns - Choose the colors of the patterns. Breako
The Trade Manager Pro EA is a MetaTrader Expert Advisor that performs position management for you avoiding human errors and enhancing your trading activity.
Amazingly easy to use Trade easily from the chart Trade with precise risk management, hassle free Capital preservation is top priority Let profits run without your attention Enjoy risk-free trades as soon as possible Automatic trailing stops for all opened trades Initial stop losses are placed as soon as trades are
The indicator represents an additional chart window with a lower time frame where bars are combined into groups that are equivalent in time to main chart time frame. Bars are synchronized by the right hand side of the window, i.e. the time of the last bar in the main window corresponds to the time of the last bar group in the additional window. The maximum number of groups is 16; the maximum number of bars combined into groups in the additional window is 256. Limitations on the numbers are requi
Robust median Renko style indicator for creating custom charts resembling Median Renko, Mean Renko, Turbo Renko and Better Renko candles as well as vanilla Renko with wicks plus PointO charts. This all in one package provides all of the signals needed by day traders, scalpers and even long term traders.
The indicator is an overlay on the main chart so it is possible to utilize one-click trading and order manipulation directly on the custom charts. Visual order placement is a
This is the Famous Timing Indicator
You can now use the most famous Timing indicator on the planet.
Millionaire Mostafa Belkhayate earned his reputation by using this specific indicator to validate the entry signals supplied by his also famous Center of Gravity indicator on the Forex market. I spent hours, days, weeks to decrypt the formula and now it is finally available to you.
New and Unique for MetaTrader 5
Timing will give you perfect validations for your entry signals. It is the first
One of the versions of the regression channel in MetaTrader 5.
The Regression Channel consists of two lines, which are equally distant up and down from the regression trend line. The distance between the borders of the channel and the regression line is equal to the deviation of the maximum Close price from the regression line.
Monitoring and Trend Analysis
This product shows the trend strength levels based on 16 standard indicators, time periods and currency groups.
Depending on the current trend, the indicator colors change from green to red, allowing you to see the full picture.
Whatever your trading method and strategy are, you should always know, in which direction you are trading and what the probability of the trend change is. This indicator will help you answer these questions by calculating the
This indicator extracts a trend from a price series and forecasts its further development. Algorithm is based on modern technique of Singular Spectral Analysis (SSA). SSA is used for extracting the main components (trend, seasonal and wave fluctuations), smoothing and eliminating noise. Does not require the series to be stationary, as well as the information on presence of periodic components and their periods. It can be applied both to price series and to the data of other indicators.
Does not support openning multiple orders on a single symbol on MT5
MultiMTCopier MT5Receiver - new and improved multi-terminal positions copier for your real/demo account, works faster, requires less, flexible in managing and upgrading, new information support. This Expert Advisor is designed for the MetaTrader 5 terminal, trades will be copied into this terminal.
The EA will copy all positions without delays Additionally integrated notification in situations requiring user
Market Profile defines a number of day types that can help the trader to determine market behaviour. A key feature is the Value Area, representing the range of price action where 70% of trading took place. Understanding the Value Area can give traders valuable insight into market direction and establish the higher odds trade. It is an excellent addition to any system you may be using.
Blahtech Limited presents their Market Profile indicator for the MetaTrader community. Inspired by Jim Dalton’s
Tick volume is equal to amount of ticks at the unit of time. There is direct correlation between tick volume and real amount of deals. Every change of the price is a result of a real request to perform a deal. Consequently, fewer requests we have, the less price changes we get, and, as a consequence, tick volume is smaller.
In this case, when big amount of requests appear on the market, price changes happen more often. Big tick volume appears. Tick volume is an important indicator of trad
You are welcome. I know that my previous posts were somewhat verbose, but I had to get out the main issues and I wanted the thread to actually be useful to someone.
But even if no one responded at all, they were very good for me to write. I think it is important for traders to analyze where they have been and try to learn from it--a commit to apply what they have learned.
Short version: On my signal system, my goal is 2% safe growth each day. Over the last 3 weeks I have averaged about 6% per day - safely, with a nice flat curve.
Long: Over the past 7 years I traded stocks, options, FX, futures, and then options on futures. Then I tried FX and futures all over again. Over the past 5 years, I have started over 100 systems on the big
signal-following sites. I also followed over 50 signals from other
traders - but all sucked my accounts dry. Finally I had no other option than to play around with a $25 micro-lot FX account! I used to blame all my troubles on those stupid signal providers and of course, Ben Bernanke! LOL. But I have gotten smarter now, and I don't blame anyone but myself.
16 months ago I started to write in my trading journal, seeing what I was doing right and wrong. I realized that I kept anticipating the market instead of waiting for the signal. And I had a very strong directional bias from "gurus" I was following, and it was sabotaging me. But I was careful to keep my margin under control and really obey my rules. I then had my first breakthrough; I took my system on the biggest FX signal site from number 9,000+ to number 42 in just 4 weeks! I was ecstatic.
But my success was short lived. During the 2011 holidays, I traded on very thin volume. To make matters worse, I didn't honor my stops. I just "knew" that the market was about to reverse. My account died again. However, there was a silver lining. Not only did I catch the vision of what was possible but I also got the attention of a fabulous futures trader who had successfully traded up to 100 S&P contracts at a time. He took me under his wing, spending hours teaching me.
The bottom line for him was "Simplicity + Discipline = Success." He convinced me that taking small losses was part of the game. That it didn't take many good wins to create a positive day IF I didn't blow it with a huge stupid loss. Following my rules was the key to it all. He made me unsubscribe from all my "gurus" so I could only trade what I see. And he showed me the possibility of trading without any indicators. I have taken what he showed me and applied it to the FX market and made it my own now.
I really like these quotes from the article in Investopedia called "How to Develop a Trading Brain" :
"No other profession creates so many and such intense emotions and
reflects so much of our personalities."
"The fundamental role of trader
psychology tends to be underestimated and too much emphasis placed on
technical side. While both are essential, it is arguably the right
mindset that differentiates successful from unsuccessful traders.
However, learning the technical aspects of trading is more
straightforward than acquiring a top-notch trading brain. The latter
generally entails working intensely on one's own personality traits and
eradicating entrenched behavioral patterns. This process is not easy and
requires dedication, time, and often, the aid of a skilled coach.
Nevertheless, the results are very likely to reap dividends."
You input has been valuable to me. Thanks.
I guess what I was trying to say was the last three years of "almost" consistent is what has allowed me to have the success I am currently having.
Yet, you are very right; I truly can't even begin to claim "consistency" until I have proven that I have actually applied the "lessons learned" discussed above and have continued my current success up to and over the previously admitted 8-week self-destruct threshold.
And I just realized that the good trading competitions go on for at least 3 months. Why? For the very reason of observing consistency.
Therefore 3 months has just become my new Consistency Threshold
What is your definition of consistency? How long do you feel an EA needs to go through forward testing before you would put money in it?
talontrader can you prove your performance? or everything is just bla bla i can i can i can..
He publishes signals under REDLINE name: https://www.mql5.com/en/signals/3982
Relatively new, which is why I posted about redline being on tachometer vs speedometer.
Gurich, I think I understand the % margin recommendation, but I am not sure.
I see that % of equity may be less meaningful than % margin because two traders could be employing different leverage. But I am not sure of the nuances as to how this helps me personally with my goals. Please say it again using some specific numbers if you'd be so kind.
I currently am revisiting my daily PIP goal of 50 pips with a max of 3 simultaneously open positions. My plan is to increase the size of each trade gradually as my balance increases. I am now at about $200 and I have decided that it is time to use .02 lots per trade. At $300, I will use .03 lots per trade. This way it is very easy for me to keep track of the position size I should be using, and to not scare my "passengers."
The big signal site only allows fixed lot trades by the subscriber and the follower adjusts the size of their trade accordingly. I see pros and cons in both methods.
p.s. Thanks for using my own race car analogy. That was fun. But we must continue to be careful in the forum and be very general so all may benefit and no one system is promoted. I think you were adequately cryptic in your previous post. Keep it up.
HaHa. You reminded me of Dracula in "Hotel Transylvania" (Great movie!) "I want to suck your blood. Blah, Blah, Blah." I was rolling on the floor.
I see that I must appear to be boasting. I apologize. I did this all wrong! I have no intention to place myself above another trader. I have spent 7 years trying to figure out how to do this and I am only now beginning to see some promise. If anything, I am the STUPIDEST person on the planet for not stopping after my first account dropped 50%!
Gurich correctly identified my system, but I don't want this post or thread banned. I am trying to talk about PRINCIPLES of GOOD MANUAL TRADING and the what manual traders might encounter emotionally when trading. My hope is that at least one person can benefit and AVOID some or many of the mistakes that I have made along the way.
I also believe that any programmer who may decide to read these posts might be able to find an additional nugget or two to help with their EAs.
Is not this the purpose of the "community" that we have here? To help our fellow traders? I am not trolling for subscribers or to elevate myself here. I truly want to help.
in your first post you say you lost 100k , that is a lot of money. Your signals are based on 150 usd account, isnt that wierd?