EA Auto Trade

EA Auto Trade

1.       Entering trades

EA will enter two trades at opposite direction (buy and sell) which will both have take profits at specified number of pips. When the market moves the EA will continue to open trades at the given level distance. The EA will not open a trade when there is a pending trade at the same level distance.

Example

Assuming the level distance is 10 pips and take profit is 10 pips

The EA will open two trades when switched on buy 1 and sell 1, when the market moves 10 pips low the sell 1 will close at take profit and the EA will open two trades a buy 2 and sell 2. when the market moves up the buy 2 will close at take profit and the EA will open another sell 3 but will not open a buy because buy 1exists at that level distance.

The EA will omit to open a trade if there is a pending order within the number of pips specified and this will avoid having two buys or sells trades opened in the same level.

Picture below shows an example all trades above market are buys and all below are sells.

2.       Maximum draw down

The EA will have adjustable maximum draw down. The EA will close all trades when maximum draw down is reached. The maximum drawdown will be in figures and will the maximum loss the chart can make in a day.

When maximum draw down is reached trading is suspended on that chart for a number of hours or days before it resumes trading.

Example

This will happen when the market moves to one direction to a certain limit

Assuming the trades are separate by 10 pips as the earlier example and the maximum draw down is 20 usd and the lot size is 0.01

The firsts two trades will be entered and the market movement goes down it will continue to open trades both buy and sell the sells will close and the buys will have a negative which will be increasing as the market moves away from the trades and will as below

Buy 1 = -5

Buy 2 = -4

Buy 3 = -3

Buy 4 = -2

Buy 5 = -1

The total drawdown is -5 + -4 + -3 + -2 + -1 = -15

If maximum draw down is -15 when it gets to -15 all trades will be closed.

3.       Spread and slippage

This will be the maximum the EA should allow spread and slippage when entering trades.

4.       Lot Size

The lot size will be fixed and adjustable manually

5.       Short and long positions

The EA should have option to trade long or short position, this will help when market is moving in one direction.

EA should have an option to close either all buys or sells without having to close them one by one manually