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!
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
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
MACD All MAs-14 is a MACD indicator that allows choosing usual parameters of the standard MACD (constructed from EMA) as well as the type of the moving average to be applied: up to 14 different types.
You can select 9 standard MAs available in MetaTrader 5 - SMA, EMA, SMMA, LWMA, DEMA, TEMA, Frama, VIDYA, AMA, TRIX, and 4 non-standard - LRMA, HMA, JMA, AFIRMA.
Method MA - select the type of moving average to be displayed in the current graph. Period slow MA - the number
Exp COPYLOT CLIENT for MT5 is a copier for the МetaТrader 5 platform. It copies forex trades from any accounts. Including those from terminals МТ5 and МТ4.
Install the Expert Advisor in the terminal where you want to copy trades. Specify any text label name as pathRead, for example, "COPY". This should match the master terminal (to bind the two terminals). To copy trades, you need to install the free Master copier in the terminal from where you want to copy the trades: COPYLOT
The indicator displays economic news on the currency chart (the appropriate data must be downloaded from the Internet - please see the download instructions on the screenshots provided). The list of currencies (countries) is customizable. By default it shows all currencies. The main parameters come with a built-in description. In addition, there are parameters for advanced users. News items are divided into 3 categories by degree of importance. There is a great flexibility in display parameter s
Does not support hedging 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 Buttons for re
Averager is intended for averaging your deals that has had a drawdown or had gone against the trend.
An example of operation of the averager in an Exeprt Advisor in the MetaTrader 5 terminal: Exp - TickSniper. The system is identical to the averaging system created for MetaTrader 4. A demo version of the averager for MetaTrader 5: Averager DEMO.Note: this is not an automated trading system (the EA doesn't work in the strategy tester). It monitors your deals and averages them in case o
The Expert Advisor implements the classic "triangular arbitrage", which is successfully used by hedge funds.
"Triangular" arbitrage refers to a class of neutral-market strategies, in which the profit or loss of open positions does not depend on the direction of the market movement as a whole.
In order to take profit, the EA exploits a weak spot of market makers - it utilizes the difficulty of balancing cross rates of all currency pairs.
The advantages of the strategy are the following:
CandleTimer is an indicator that can be usable for scalper and short-term traders. It shows the following useful information:
Remaining and past time of a candle on the current chart or other timeframe Alarm setting for play sound at the start of the current candle Show SL/TP line defining whether the indicator has a Sell or Buy order or both Show a spread value Show Ask and Bid lines in different colors in high and low spread Compatible with a money management EA (you can buy it separat
The script allows users to easily close positions if their profit/loss reaches or exceeds a value specified in pips.
Please set slippage value first. Sometimes some positions do not close due to high volatility of the market. Please set larger slippage or restart the script.
DeltaVolumeDistribution indicator can be considered as the fusion of the DeltaVolume and TradeSizeDistribution indicators.
This indicator, inspired by the MarketDelta-family charts, computes the net difference between trades occurring at bid and at ask, while trades occurring between bid and ask quotes are not computed. The indicator plots the resulting DeltaVolume as a unique distribution plot.
With the DeltaVolumeDistribution indicator you will actually be able to see the order flow entering
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
The script creates account summary report in a separate window.
The report can be created for all deals and on deals for selected financial instruments.
It is possible to specify a time interval of calculation and save report to htm-file.
The script creates account summary report in a separate window.
The report can be created for all deals and for deals of the selected financial instruments.
It is possible to specify a time interval of calculation and save report to htm-file.
Does not support hedging 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 attention
Safe Automatic is a safe MetaТrader 5 trading robot working autonomously on a VPS server. The good results are achieved on EURUSD.
The EA applies modified versions of a trend-following strategy, half-pyramiding, scalping, Elliott Wave method and speculating trading with a deposit protection. The EA switches the strategies automatically. The program also takes the news calendar into account: the robot does not enter the market in a 10-minute interval before and after a news rel
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
Easy Order is an Expert Advisor allowing you to enter any type of trade with one click based on your RISK preferences.
You can choose to enter a trade and automatically calculate your lot size based on how much of your account you want to risk. Risk is calculated based on your Stop Loss placement. You can use a fixed lot size if you don't want to use risk based calculation of lot size. Your previous setting of risk based or fixed lot size remains saved for your next use of this Expert Advi
Pipfinite creates unique, high quality and affordable trading tools.
Our tools may or may not work for you, so we strongly suggest to try the Demo Version for MT4 first. Please test the indicator prior to purchasing to determine if it works for you.
We want your good reviews, so hurry up and test it for free...we hope you will find it useful.
Breakout Analyzer with Volume Critical
Strategy: Enter confirmed reversal setups Watch Video: (Click Here)Breakout Analyzer with Strength
Trade Copier Pro is a powerful tool to copy trade remotely between multiple accounts at different locations over internet. This is an ideal solution for signal provider, who want to share his trade with the others globally on his own rules. One provider can copy trades to multiple receivers and one receiver can get trade from multiple providers as well. The provider can even set the subscription expiry for each receiver, so that receiver will not be able to receive the signal after that
MetaCOT 2 is a set of indicators and specialized utilities for the analysis of the U.S. Commodity Futures Trading Commission reports. Thanks to the reports issued by the Commission, it is possible to analyze the size and direction of the positions of the major market participants, which brings the long-term price prediction accuracy to a new higher-quality level, inaccessible to most traders.
These indicators, related to the fundamental analysis, can also be used as an effective long-term filte
The fractal analysis of the markets is used in the indicator operation algorithm. According to the fractals theory, after the breakthrough of the fractal level confirmed by the closing price located below or above the fractal, the trend wave in the direction of the breakthrough starts to develop. Until the fractal has been passed in the opposite direction, the trend is considered to be acting even if the price is flat or moves backwards. If a bullish fractal has been previously broken through on
The most profitable trend traders are the ones who know how to recognize not only the market trend, but also the trading opportunities that arise once a trend has been established. The Pz Trend Trading indicator has been designed to profit has much as possible from trends taking place in the maket.
Established trends offer dozens of trading opportunities, but most trend trading indicators neglect them completely, and leave the trader completely uninformed about what the market is doing during a
Virtual TrailingStop is an Expert Advisor that manages trailing stop without sending its information to the broker server.
EnableVirtualTrailingStop: enable or disable whole function VirtualTrailingStop: the pip use for determine how far the Virtual Trailing Stop will placed calculated from current price StartFromBreakEven: true/false. If true, Virtual Trailing Stop will placed after breakeven BreakEvenPoint: point profit from order open price where the Virtual T
Auto Trade Copier is designed to copy trades between multi MetaTrader 5 accounts/terminals with 100% accuracy.
With this tool, you can act as either a provider (source) or a receiver (destination). All trading actions will be copied from the provider to the receiver with no delay.
Note: Demo version for testing can be downloaded at: https://www.mql5.com/en/market/product/5006.
Followings are highlight features:
Switch between Provider or Receiver role within one tool.One provider can copy tr
Ichimoku Kinko Hyo is a purpose-built trend trading charting system that has been successfully used in nearly every tradable market. It is unique in many ways, but its primary strength is its use of multiple data points to give the trader a deeper, more comprehensive view into price action. This deeper view, and the fact that Ichimoku is a very visual system, enables the trader to quickly discern and filter "at a glance" the low-probability trading setups from those of higher proba
We present you an effective software solution for arbitrage between brokers.
The Arbitrage on the market became widespread due to decentralization. There are many liquidity providers, whose quotes differ for various reasons. By tracking the dynamics of changes in the quotes of different brokers, it is possible to determine the delayed and leading brokers, thereby predicting the future prices of the delayed broker for a short time. Knowing these prices and using efficient built-in software filte
COSMOS4U Volume indicator facilitates your trade decisions. It gives confirmation of the running movement and market trends. It highlights current and past accumulation and distribution volumes, comparing them to moving average volume and the highest volume. In addition, it identifies and marks nuances as well as convergence and divergence patterns of bears and bulls in order to provide the market trend and price ranges.
The supported features are as follows:
Fast Volume Moving Average Slow
Auto Trade Driver is an automatic powerful tool (run as Expert Advisor) that helps you to manage risk and control orders and maximize your profit in multi-protect/trailing-stop rules.
This tool is very useful for both scalpers and trend followers. It not only calculates the trade risk exactly, but also protects and maximizes your profits in real-time.
With this tool, the only thing you have to do is to enter trade by your own strategy, then it will auto-drive your position with exit strategy y
A script for opening a grid of orders
If you need to quickly open several pending orders (Buy Limit, Sell Limit, Buy Stop, Sell Stop) on a certain distance from the current price, this script will do all the routine for you! Allow AutoTrading before running the script.
Run the script on a chart.
Language of messages displayed (EN, RU, DE, FR, ES) - language of the output messages (English, Russian, German, French, Spanish). Price for open - open price. If set to
The Heiken Ashi indicator drawn using a tick chart. It draws synthetic candlesticks that contain a definite number of ticks.
option prices - price option. It can be Bid, Ask or (Ask+Bid)/2. the number of ticks to identify Bar - number of ticks that form candlesticks. price levels count - number of displayed price levels (no levels are displayed if set to 0 or a lower value). calculated bar - number of bars on the chart.Buffer indexes: 0 - OPEN, 1 - HIGH, 2 - LOW, 3 - CLOSE.
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?