- Lots: 0.25% lots
- Recovery Method: Choose between, standard, short-term and long-term. Will be explained under the algorithm section
- Allow Open Buy: True/False, set to false if trader want to disable the Buy Order.
- Allow Open Sell: True/False, set to false if trader want to disable the Sell Order.
- Expert ID: An identifications number for Expert Advisors, you can set number 1 to 999
- Order Comment: A comment for your order.
When traders run this EA on live trading there will be a Buy/Sell button, trader can press the Buy button to initiate Buy order. Lots size will be calculated based on preset money Management / Risk Management (will be explained on the money management section).
When order in profit the EA will automatic close the order when there is a sign of reversal based on some technical indicator / pattern on lower timeframe. EA will also close the profitable trade (on average is profit) when market touch the Close Buy in Profit line / Close Sell in Profit line.
When order are losses the EA will automatic put another Buy order in order to recover the position when there is a reversal sign, max order and distance will be depend on the preset setting of the Recovery Mode.
- Standard, 5 orders with distance between order around 4 ATR, 3 ATR, 2 ATR, and 1 ATR trading on H1 / H4. Risk around 2.5% - 8%
- Aggressive, 6 orders with variable distance and incremental risk traded on H1/H4, Risk around 8% - 20%
- Short-term, 8 orders with distance between order around 1 ATR, trading on M30 / H1. Risk around 1% - 5%
- Long-term, 30 orders with distance between order around 0.3 ATR, trading on D1. Risk around 30% - 80%
When we reach maximum orders, EA will cut loss when market touch the Close Buy line / Close Sell line. ATR = Average True Range, an average distance between high and low of the candlestick for certain period.
The key to be a successful trader is the Risk Management/Money Management. In this EA no fixed stop loss since the EA will need to wait reversal sign to do the recovery and also to cut loss, but we still need to trade with manageable risk that's why we come out with a formula that we called "percent lots". To make it easy we just use a view example:
- When we trade with $100,000 the 1% lots is 1 lot
- When we trade with $10,000 the 1% lots is 0.1 lot
- When we trade with $1,000 the 1% lots is 0.01 lot
- When we trade with $4,000 the 0.25% lots is 0.01 lot
Above is a simple example, but the actual calculation is not like that. It will be depend on the Currency Daily Range to determine the traded volume.