There is a new trend in the Forex marketplace - Bitcoin trading. Trading Bitcoin is slowly gaining momentum, and so has the need for automated strategies for trading this currency. The major difference is that Bitcoin can be traded 7 days a week, 24 hours a day.
This means that the weekends are now open for spot traders and opens up a world of opportunity for the right trading robot or Expert Advisor.
At weekend session on Saturday and Sunday, BTC will be trading on its own supply-demand market conditions – so it wont move based on any other currency cross (weekend – no others are traded).
Ranging price movement is expected on this condition.
EA places Long and/or Short initial trade as soon as Market entering Saturday. And by the time, it also places pending Limit orders that expect price will move back on some points. EA manages some trades aspects, Lots or Volume and Grid Mode are the main parameters.
- Initial Lots or Volume: Initial lots size to be used on orders.
- Initial Lots Management:
- Static: EA will use Parameter “Initial Lots or Volume” size as normal Lots.
- Dynamic: EA will use “Initial Lots or Volume” as multiplier to account equity. Calculation:
Lots = “Initial Lots or Volume” x “Account Equity” / 100000
- Range in Points: Range between order sequences in Points.
- How many Pending Grids? EA put some pending orders set by this parameter.
- Grid Mode:
- Classic: Always use initial Lots size. All orders will use same Lots.
- Moderate: Next Lots is previous Lots plus initial Lots.
Example: 2, 4, 6, 8, 10, ...
- Progressive: Next Lots is previous total Lots.
Example: 1, 1, 2, 4, 8, 16, ...
- Enable Long Positions: Option to enable EA to take Long orders or not.
- Enable Short Positions: Option to enable EA to take Short orders or not.
- Orders Identifier: EA only count its own orders among the other orders (if existing).
Happy Bitcoin Weekend Trading! ;-)