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Taipan's algorithm bites small pieces out of the market movements. It opens several trades per day and closes them on the same day.
More than 80% of the trades are profitable in a historical backtest.
NO martingale, grid trading or other dangerous method used, that at the end erases your account.
Always just one order open with tight StopLoss of 20 pip or less. To avoid negative slippage Taipan sets limit orders in some market situations.
Live signal >> (Demo, started earlier)
Taipan trades GBPUSD on a real account here >>
Take a look at the signal description.
Price policy: The purchase price will rise depending on the trading results.
Taipan trades best in GBPUSD M5 chart.
EURUSD M5 works well too but is still in development.
Taipan needs no set files!
For Backtesting in MT4: Make sure that you have all data available for GBPUSD (M1, M5, D1 and W1). If not download it in the history center.
If you believe in the myth of an eternal strategy and are disappointed that a test before 2016 shows losses please read comment #1 2. half.
Taipan trades various strategies. Each strategy can be de/activated in the settings.
Depending on the market the neural network controled take profit closes the positions fast
with small profit of 6 to 10 pip or waits for profits far above it.
Trading various strategies is a big advantage compared to trading system that trade only one strategy:
Every strategy has a drawdown phase some day - but not 30+ strategies at the same time!
An option might be to set Taipan on 2 or 3 charts of the same currency and trade some strategies with different risks.
Experience in live trading will show which strategies are best.
SetUTC - timezone. Default set UTC=2 is best, used by many brokers
Auto_Moneymanage: auto money management 1 = On
2 = Testmode: Lotsize calculated always on USD 10000.
As lotsize depends on StopLoss that varies, testmode simulates test with fixed lotsize.
Don't deactivate Auto_Moneymanage, it is part of the strategy!
MiniLots: if true, Auto_Moneym. has steps of 0.01 lot
MaximumRisk: % of account free margin set on risk for one trade
AddOrderPercent: % of lotsize (compared to 1. order) for additional orders (if MaxBuy / Sell >1)
Lots: lot size if Auto_Moneym. is disabled
Hedge: deactivate if hedging is not possible
StopLossBuy: distance of stop loss in points
TakeProfitB: points profit when order is closed
MaxBuys: max. amount of buy orders - the MaximumRisk rises with the amount of orders
Set here 3 the set MaximumRisk may triple.
StratBuy: active buy strategies
Which strategy triggered a trade can be seen in the chart.
Set the mousetip over the arrow where the trade was opened a small window opens.
Before the magic number in brackets it shows the number of the strategy that triggered the trade.
Following the same settings for sell orders
HrFriClose: hour when the EA closes open orders Fridays to avoid open orders on weekend (24 = disabled)
magic: magic number
DrawLines: draws Highs and Lows of former days, weeks in the chart. Mouseover shows the name of the line.
The EA orientates on these lines. More info in the description of the indicator: Support Resistance FreeIf lines are shown in the chart or not makes no difference for the trading result.