Simple BTCUSD

Overview

Simple BTCUSD is a very intuitive Expert Advisor, equipped with few input parameters, capable of operating in a totally automatic way on BTCUSD.

Inputs

First of all, it is specified that the choice of timeframe does not influence the operation of Simple BTCUSD

Please note: In the value to be entered, write all lowercase, exactly as shown here. For numbers, use a period instead of a comma.

The description of the variables follows.

- EA no...
It is extremely important to set a different number for each EA used (any whole number). In fact, this parameter allows the EA to recognize the positions.

- direction

Determines the direction of opening positions,

Long trades only: buy
Short trades only: sell
Both directions: buy & sell
Leave empty if you don't want to trade.

- risk

It is a risk coefficient in relation to the balance. Set to 1, it opens positions with a volume equal to the total balance, 0.5 half, 2 double and so on. You can set any number according to your risk propensity.

- exchange rates
Expresses the exchange rate against the US dollar, i.e. the dollar value of the reference currency of your account. The value must always be related to the unit, thus considering how many dollars a single unit of its currency is worth. For example, if your currency is euro, taking the exchange rate of 10 January 2023 as a reference, you will need to set 1.0723.
Logically, if your currency is the US dollar, the parameter is 1.
Please note: The exchange rate - if effective - must be periodically updated according to rate fluctuations.

Backtests

The backtest results reflect our historical data. Likewise, the operating conditions (spreads, commissions...) are related to the broker used. Normally the cryptocurrency swap is expressed in percentage points.
The Strategy Tester does not calculate the swap when it is expressed in percentage points.
We therefore recommend that you carry out the necessary backtests yourself and subtract the swap from the result they provide (one method could be to multiply the daily spread by the average amount of trades made, and multiply again by the total duration of the trades performed by the backtest ; now subtract the result from the profit).

Platform, brokers and VPS

The software is for use on the MT5 platform. In principle it can work on any broker with crypto markets, however we recommend brokers specialized in cryptocurrencies and with advantageous features, including low spreads and swaps (which are generally high in crypto markets).

The use of a VPS is strongly recommended to avoid discontinuity in the connection.

Final Considerations

One of the characteristics of the crypto markets is the presence of strong and long trends, up or down. Simple BTCUSD is programmed to spot the dominant trend and open and close positions based on the price swings along the up or down channel.
The software has proven to be able to work fully automatically during periods marked by important trend phases. Despite this, it was also able to deal with phases of lateralization and uncertainty with some success.
It works well in both directions (buy and sell), but you can choose only one, based on your preference.
It is possible that there are more or less long periods of inactivity, in some cases even over a month, especially at start-up.

Unlike many EAs, based on the opening of multiple positions at a loss (hoping for a reversal, which may not arrive conveniently), Simple BTCUSD opens only one position at a time, thus allowing the trader to easly monitor it.
Several EAs, even noble ones, have backtest charts with the capital line constantly gaining for years. This type of operation is very attractive, but hides great dangers: these results, most of the time, are obtained by exposing the capital to loss-making operations and closing them when the overall balance becomes positive (allowing at most some losses), or by unbalancing the stop-loss and take-profit ratio, concepts that are not very distant from that of the martingale. There is no guarantee that the market will significantly reverse its trend and that the positions will finally return to profit, risking being forced out of operations after accumulating a large loss. Just like with the martingale, even after periods of great luck, the precipice is always around the corner.
From the graphs of our backtests it is possible to appreciate moments of gain in which the EA is able to adequately interpret the signals of the market, alternating with moments of loss. This type of trend is indicative of correct operation.

While software can be intended as a substitute for the trader, it is preferable to view automation as a tool in the hands of the trader. The greater the potential of the tools used, the more discernment, awareness and responsibility are required.

Disclaimer

CFDs are complex instruments and come with a high risk of losing money due to leverage. Over 75% of retail accounts lose money when trading CFDs. Consider whether you understand how CFDs work and whether you can bear the high risk of losing money.

Using Simple BTCUSD does not reduce the risk of losing your money.

Simple BTCUSD is aimed at experienced traders; it does not replace the natural person in market analysis and is to be considered as an aid to discretionary operations.

Neither the software nor the programmers can in any way be held responsible for any loss of money.

Results obtained using historical data (backtests) do not guarantee future results and do not represent a forecast.

Like any software, even CryptoTrading can be subject to bugs and programming errors.