No Grid, No Martingale, No Scalping, No Hedging. FIFO complaint
EA supports all brokers and all account types(demo,real,standard,ecn etc). Tight spread is not very much required. However brokers with tight spread will minimize overall dd.
PreciseTradingEA Works in 2 modes, mode1 and mode2.
Opening of trades is same in both modes. However it differs in way trades get closed. In mode1 trades gets closed immediately on deducting a change in buy/sell pattern. Take-profit and stop-loss are managed internally. In mode1 all open trades are closed individually based on the strategy.
In Mode2 trades open in the same way as mode1. However it closes trades in buckets which will have both profit and loss trades with the difference set by AutoClosePips settings parameter.
PreciseTradingEA may not work as expected in Strategic Tester as it requires Multiple pairs at multiple time frames which is not possible in Strategic Tester.
Mode of Working: Attach this EA to 20-25 charts of any time-frame. System will choose the best pair to open trade. Current version doesn't support GOLD and SILVER pairs.
Trading with PreciseTradingEA:
The norm for trading with PreciseTradingEA is Account Balance of 2000 USD and lot size of 0.01. You can increase the lot size to x5 for 5% risk (or) to x10 for 10% risk for account balance of 2000 USD. For 5% risk you can set the equity protection at 30%. But we strongly suggest to have a max of 5% risk setting.
During normal trading days we believe trading will be normal, however during high impact news release it may not be so. Please follow the below simple steps during that time.
- On news release day (probably few hours before news release), if the overall gain is positive you can close all the trades manually and disable the EA and enable it after 30 minutes of news release.
- Check the pairs that will affect the news release (eg USD pairs during NFP, US interest rate decision etc) . close all those pairs along with other pairs such that the gain will be positive. You can also close the news affecting pairs with positive gain and disable the EA and enable it 30 minutes past the news release.
- You can close the news affecting pairs with minimum loss and disable the EA and enable it 30 minutes past the news release.
- If none of the above is feasible, let the EA handle it, let it even close with protection DD at 30% or 40% which ever you have set (open orders closing with a loss). You can try to recover the loss, you can even double the risk ( 5% risk to 10% or 10% risk to 20%) for a short time. This holds good even during unexpected market crash.
- EnableTrading = Trading will be enabled or disabled.
- Mode = Unique value for strategy-1 or strategy-2.
- StopLoss = Stop loss in pips when the order is initially opened.
- TakeProfit = Take profit in pips when the order is initially opened.
- BreakEvenPips = Stop loss will be set to order entry when price reaches the value.
- CloseAllTrades_AtProfit_In_Percent = All open orders gets closed when specified percent gain is reached.
- CloseAllTrades_AtLoss_In_Percent = All open orders gets closed when specified percent dd is reached.
- TotalMaxOrder = Maximum number of orders that can be open.
- AutoClosePip = Value of pip specified for the order to be closed in mode2.
- CloseAt_TrendChange = True will close the current pair. False will display message "Trend change, close the current pair".
- FixedLot = Specify if the lot size is fixed or variable.
- FixedLotSize = Value of lot size when FixedLot parameter is true.
- CustomLotSizePer1000 = Value of lot size when FixedLot parameter is false.
- MagicNumber = Magic Number.
If false ea will display message on the chart screen "Trend change, close the current pair".
If true the ea will close the current pair and display message "Trend change, current pair closed".