Bittsgap
- Experts
- Version: 1.0
- Activations: 5
Some professional traders do not enter the market by market orders... they use limit orders... they are creating the market... so how are they profiting with that approach?
Lets say GBP-USD is at 1.32545 Program will offer to sell GBP at 1.32548... so 0.03 cents higher... ( advantage is in market spreads in your favor ) if someone takes that trade... EA will try to sell it at marker price of 1.32545 making 0.03 cents profit on that transactions. But that may not happen... Price can go down 0.010 cents... and you make a profit of 0.013 cents.. or price goes up 0.010 cents... and you have a loss of 0.07 cents... point is... you have 3 transactions... sometimes you lose... sometimes you winn.. but what is important for investor... is that you make more vs. how much you lose over a longer time frame. So, having that in mind I have created EA that is using those small profits to expand the grid. When grid is large enough, you can keep the profits.
This EA will open limit orders from the current price on both sides and make profits as the price giggles. I suggest setting take profit of a 100 points. In that case EA will close trades sooner and place more limit orders creating more profits. I suggest using cent account or 0.01 lot sizes for a minimum of 5000 USD account- risky. Also would suggest you to use 20 000 USD account if using GBP-USD pair since it is highly volatile pair. Main purpose is to create large grid in a period of 2 to 3 years. After that you can keep the profits without worrying that EA will need that money to expand the grid. For example GBP-USD large grid would be from 1.7 to 0.8 and when the price returns to middle- 1.2 of the range profits of the EA will not be used to expand the grid but will remain for your use. EA will on average generate 1500 USD profit on GBP-USD every month. WARNNING- If your account balance is to small and if pair trends in one direction strong negative opened positions will be to big resulting in blowing your account. So, be patient and go slowly. Test EA for each pair before starting so that you know how big account you need to have for each currency pair. Similar EA is rented by 3commas and Bitsgap for 123$ a month to trade crypto averaging returns of 2 to 7 % a month.
If you wish to use it for a short period of time- couple of days... make sure to select a ranging market. So use Investing.com to avoid important news releases for those currency pairs.
I also suggest to use it on commodities in situations when the price is lover of production costs. For example- Companies need 35$ for labor expense to produce a barrel of WTI. So Once the price was ranging from 10 to 50$... it would be a perfect time to use this EA...
Make sure grid distance and take profit is the same number.
Swap free only accounts.
