Money Management - page 16

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How does the "Lot-Increase when the balance increases" concept work?

Hello,

There are 2 EAs that I am familiar with - MyLuckyPro V.0.4p and Grail_1. The both of these EAs are here on Forex-TSD.com and I wanted to know something......

When your balance makes it to about $1000, the lot size for your account keeps increasing more and more when it trades. Can someone show my the code in those EAs for how this works?

Thanks

PS

 

Deposit size/ trade size/ risk

start with minimum deposit size only with a reiable broker

now only trade .01 mini lot

WARNINGWhat follows is Rated MGS (Mentor Guidance Suggested)

Start with only one trade until it is either stopped out or u take profit.

Disipline yourself to do this or you are not ready to trade live. This is what the guru's don't teach you, but you'll learn the hard way

Be very very strict on yourself do not trade anymore than that until you can proove a positive record of trading at least a 2:1 ratio of wins over losses for at least a month and maybe 5 years and always trade with the same lot size no bigger and your leverage should be no more than 100:1

When you go live you are going to have emotions you have never felt before

do not trade if you do experience anxiety or depression

Write a script of what you are going to do before you start and what setup you are looking for I use a check off list before i trade even the smallest of trades( i wish for the master setup Manual EA that would alarm - signal and confirm my every move )

Time the trade

Leave the daily period separators on the chart

Draw your trading range at 3AM ET (horizontal lines at the highest candle and the lowest candle on the 15min TF)

Use a channel indicator i prefer SHI or LinRegBuffer

the channel top and bottom will act as support and resist

Know your pivot points

Wait for the complete setup ( wait however long it takes, somtimes days or weeks you'll only see this sidways movement and thats the forex trap were you'll loose more than any other pattern

If the trend of the day is going in the opposite of the major trend or not at the turning point, you can take the day off or week .only trade in the direction of the major trend (if you don't you will loose more than you win) ID the current pattern and the previous D1 candle.

You are waiting for the setup

Remember if not sure don't trade yet. DEMO trade instead

(Of course its up to you, if you think your smarter than the forex and you can force it to go any direction you happen to choose for the day then jump in and you'll learn the hard way)

Seriously as odd as it may be you will learn the most when that feeling of helplessnes and despair comes over your entire being, your head feels like its on fire and will explode at any second you'll be angry upset with yourself and want to blame it on what ever reason is at hand ,interuptions , distractions pressure, and of course stupidity, knowing you just lost all you have . You'll think your a looser shut down your computor and walk away want to contemplate suicide. Now go for a long walk and think about what just happened and realize this is the price/prize of your learning/forex education.(you have just completed forex pre-school and now after a brief vacation (go ahead take a week off) from the forex and focus on the 45 year plan job(JUST OVER BROKE) remind yourself Financial Freedom is not Free

Get Ready Now , you are going to learn a whole lot more and you'll be more relaxed and open and hungry to learn. Look its like anything else in life its going to take time. you'll fall down and get hurt repeatedly . the quitter will never win but the one that recovers from the hurts and over comes the pain will emerge a learned experieced individual ready to flow with the forex trend

I repeat ,only trade in the direction of the major trend (if you don't you will loose more than you win)

if not sure don't trade yet

i know this is a harsh reality but i've never seen it in written words, however it is what i felt and is the truth so just maybe will encourage someone to be smart and learn with micro size losses.

thank you for sharing your thoughts

 

Can someone help me,i would like to make instruction to my lot.

Something like below

my current code for Lots position only like this

extern double Lots = 0.2;[/CODE]

but i want to apply this code that i get from 20_200expert ea.

[CODE]{

if (AccountBalance()>=300) lot=0.01;

if (AccountBalance()>=500) lot=0.02;

if (AccountBalance()>=800) lot=0.03;

if (AccountBalance()>=1000) lot=0.04;

if (AccountBalance()>=1300) lot=0.05;

if (AccountBalance()>=1600) lot=0.06;

if (AccountBalance()>=1800) lot=0.07;

if (AccountBalance()>=2100) lot=0.08;

if (AccountBalance()>=2400) lot=0.09;

if (AccountBalance()>=2700) lot=0.10;

if (AccountBalance()>=3000) lot=0.11;

if (AccountBalance()>=3300) lot=0.12;

if (AccountBalance()>=3500) lot=0.13;

if (AccountBalance()>=3785) lot=0.14;

if (AccountBalance()>=4058) lot=0.15;

if (AccountBalance()>=4332) lot=0.16;

}

Can someone show the correct code command so i can apply to my ea?

 

Problem solved,

just place that chunk into your start() function and change all those "lot" to "Lots" OR change your "Lots" to "lot".

From Zen Leow, Forexfactory

 

nice thread

thanks for the thread, i am learning a lot

 

Money Management #Lots indicator

Hi there,

You always hear people say stuff like "don't risk more than x% per trade".

I always trade with predefined stop loss levels, but it always comes down to a guess how many lots I should trade without risking more than a certain percent of my account size.

Is it possible to make an indicator which does the following:

You predefine the percentage you want to risk (ie 5%)

You predefine the lot size (depending on whether you trade standard, mini or micro lots)

Then you click OK and the indicator plots a horizontal line. This line can then be shifted towards the desired SL, and the indicator will then suggest the amount of lots you should trade to remain within the risk boundaries.

If the bar is placed below the current close, the indicator will automatically recognize that you're going long and vice versa.

Have a look at the picture. The values with a blue block in front of them should be "extern int" if I'm not mistaking. The other values have to be determined in other ways. The pink dotted line should be shifted towards the desired SL.

I don't have the skills to program an indicator like this, though I don't think it will be very hard for someone who is familiar with MQL coding.

If there are other indicators out there doing something similar, please notify me... I wasn't able to find it.

 
 

check mql codeabase

been a lot of staff lately

(something like this)

 

Randow entry and TP>SL with MM

hi all guru,

i just use a simple excel to simulate random entry with TP/SL (TP>SL) with the following mm

if the previous trade win, the next trade less 1 lot, min. 1

if the previous trade loss, the next trade add 1 lot, no max

if the previous trade breakeven, it treat it as loss

and i am surprise with such MM, I can still make some decent profit.

is it possible to put it as an EA to test it out?

Happy trading

 

Sometimes you lose sometimes you win and what makes you 'always' win is MONEY MANAGEMENT

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