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Little Feet

Little Feet is a multi-dimensional grid system. It is designed to handle small lots and pip step and moves these smaller orders in and out of higher level grids.

The best account type for this EA is a micro or a cent account. If you run on a cent account, you can reduce your first level grid substantially. This means there will be more frequent trading, which helps by continually feeding the account with small profits. These many more small trades are great for the bank balance and rebates.

This EA WILL periodically attain DD, because losses are exponential. During a ranging markets, this EA works very well. It performs well when trading with the trend. Look at each chart and study recent minimums or highs, and avoid charts where top and bottom boundaries are unclear.

If you run this EA on a cent account or a micro account, you will generate quite some trading volume. Subscribe to a good rebate provider, and feel free to contact me if you are unsure.

I have provided four signals on MQL. One for ECN, one for micro and two for cent accounts.


Summary

1) Stop Losses: These are hidden, so you will NOT see stop losses

2) If setup correctly, then good growth can be maintained. On ECN, unless you have a large balance, the grid will need to set up substantially higher.

3) Drawdown: DD on a worst case scenario, on a good configuration, is estimated to reach 30%, so... we advise you NOW that you can get a high drawdown if incorrectly configured. Perhaps, consider tradable bonuses.

4) Account configuration:

  • $100 in a micro account. Starting lot 0.01. Small grid (5 - 50)
  • $100 in a cent account. Starting lot 0.01. Small grid (5 - 50)
  • $1000 in a cent account. Starting ot 0.1. Small grid (5 - 50)
  • $1500 in an ECN account. Starting lot 0.01. Large grid (75+)

When running this EA, first look at the chart, and study the downside. Attempt to find pairs with a positive swap, since trades can be moved into higher level grids and remain open for weeks.

Once a month, revise the charts. I will publish my own opinion from time to time.


Parameters

  1. Trade Direction: Set this to Long, Short or Both. You can also set the direction to None, in which case existing trades are managed but no new level 1 trades are added.
  2. Maximum Allowed Spread In Points: Set this to a reasonable spread level for a symbol. For example, if EURUSD has a spread of 10, perhaps, set this to 15. This mechanism gives you protection when
    1. the Market opens each weekend and spread grows to be large
    2. the evening spread grows at the end of each day
    3. market volatility and lack of liquidity. If the spread grows too large, you do no want to participate in the market
    4. broker protection from spread widening.
  3. Minimum Lots: The minimum lot size to trade. Used at the best price range.
  4. Maximum Lots: The maximum lot size to trade.
  5. MTP (Pips): Minimum transaction pips or take profit (pips). This is your desired pips profit at each level 1 grid order.
  6. Grid Size (Pips). Specify the level 1 grid size. This is a large deciding factor in your overall risk.
  7. Chart Top Price: Highest price you think the chart could obtain. If set to 0, it will be auto-calculated.
  8. Chart Bottom Price: Lowest price you think the chart could obtain. If set to 0, it will be auto-calculated.
  9. Slippage: standard slippage in pips.
  10. Magic Number: base magic number. Subsequent higher level grids will have a higher magic number (up to +5).
  11. Maximum Orders in Level 1 Grid: the number of orders allowed to be open, before they are moved to a higher level grid.
  12. Orders to Move to Next Level Grid: If we exceed the previous parameter, then we will move a certain amount of orders to the next level grid.
  13. Lot Multiplier for next Level Grid: Control the sizing once orders are moved to a higher level grid. 0 = off, < 1 = conservative, > 1 = aggressive.
  14. SL (Only with Dynamic TP): Override the internal logic and SL.
  15. Allow Dynamic TP (if your STOPS are high): Allows you choose a small TP if your broker has larger stops.
  16. Use Bollinger to reduce high DD trades: use Bollinger Bands to stop trading if the price is higher than 4-hour Bollinger Bands for long.
  17. Upper Spike Protection: Pause trading if a chart is spiking in the direction you have chosen.
  18. Bottom Fall Protection: Pause trading if a chart is falling too quickly against the direction you have chosen.
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