The Stalker EA
The STALKER works by waiting for when the market starts moving quickly and then pounces with quick acting trades. It does this by placing pending buy and sell stop orders above and below the current market price and regularly updates these orders regularly to ensure no false triggers. If the market has a sudden move in any direction, one of these trades will be triggered and the money management system kicks into place to complete the trade. For the next x minutes it then goes into attack mode whereby it trades more aggressively to take advantage of market volatility. After x minutes, it will then go back to stalking mode and wait for the next signal.
- Operates on market action only - no complex indicators or theories. If the market is moving, this strategy will take advantage of it. Simple.
- Fast acting scalper probing for quick market moves
- Two trading modes for greater profits and less risk.
- Stalking mode to sense big moves in market
- Attack mode to trade more aggressively when stalking mode is triggered
- Tight stop losses to protect capital
- Tight trailing stop to lock in quick profits
- Spread Protection
- Only trades when the market is active and busy
- Can be used an multiple currency pairs
- Performs best in volatile or quick moving markets
- Extremely low draw down
Being a scalper it works best with a fast ECN broker with low spreads and running on a VPS
Best pairs are EURUSD, EURJPY and USDJPY but will also work with many other pairs for the big breakouts
- Trade size based on account balance (eg 10% of $10,0000 account = 1 lot)
- STALKING MODE distance to place pending orders (distance from current market price to place buy and sell pending stop orders - in points)
- Time period between updating pending orders (minutes between updating orders eg 2 minutes)
- Time period to wait after trade is activated (when a pending order is activated you can delay before placing new pending orders - in minutes)
- ATTACK MODE Distance to place pending orders (when a trade is activated, the ea will change order distance to this input for a set time - in minutes)
- Time period to stay in ATTACK mode (number of minutes it stays in attack mode)
- Initial stop loss (stop loss used when placing pending orders - in points)
- Initial take profit (take profit used when placing pending orders - in points)
- Move stop to break even (number of points in profit where stop is moved to break even)
- Trailing stop loss (when trade is activated, trailing stop starts working immediately - in points)
- Maximum Spread (Pending orders will be removed from system if spread is greater than this input and restored when spread falls again - in points)
- Start Trading Hour (Broker time to start ea being active)
- End Trading Hour (Broker time to stop ea being active)
- Magic Number (unique number for ea to identify trades it places)
- Comment (any comment you like to identify ea)
Recommended to use factory default settings for major pairs.
New improved set files for USDJPY, EURJPY and EURUSD
You will now see this sitting on the sidelines for longer but performs more efficient trades when the market gets active. A great EA to have running in the background.