Expert Adviser with a Trailing Sell/Buy Stop, Risk Management is Key not Trade Execution

2020.05.23 Experts

Specification

My theory for this expert adviser is that any trade can be profitable with correct risk management and i believe the way to achieve this is fairly simple. Using a similar style to a martingale system where if the trade goes against our open position we open more trades to compensate and eventually close in profit. Except instead of these trades being executed at set point steps, we will use a trailing sell/buy stop to give completely variable trade gaps depending on market conditions.

The idea i have would be structured something like below, i am no coder, so this will need to be interpreted and adapted in the best way you see fit. This would need to work for buy and sell trades and also have adjustable parameters for initial trade entry points distance and expiry aswell as take profit and step for the sell/buy stop, maximum total trades and maximum pairs open at one time.

EA idea

Check number of open trades
If open trades = 0 
set sell stop 100 points below bid price. 
Lot size 0.02
1hr expiration. 
No SL. 
300 point TP.

Check number of open trades
If open trades = 1 or more
Check if bid price is greater than 500 points of the last open trade.
If bid price is greater than 500 points set sell stop 100 point below current bid price.
Lot size 0.02
1 hr expiration
No SL
No TP.

Check number of open trades
If open trades = 4 or more
Check if bid price is greater than 500 points of the last open trade.
If bid price is greater than 500 points set sell stop 100 point below current bid price.
Lot size 0.04
1 hr expiration
No SL
No TP.

Maximum total open trades = 8
Maximum number of different currency pairs allowed open = 1

If multiple trades are open close all trades for total overall profit of 300 points

Hope this makes sense.

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Project information

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30 - 200 USD
VAT (20%): 6 - 40 USD
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27 - 180 USD