This Expert Advisor is recommended for newbies.
Bott is a Scalper Expert Advisor.
- The expert advisor is running on price action on entry analysis and winning trades use trail stop to maximize the profit and uses stop-loss on reversing trade to minimize losses.
- The entry plan is to catch the general trend and catch some pips on that trend.
- In case the entry is not in favor and price reverses, it uses a Stop-Loss
- Lotsizing is specifically based on the parameter "Money Management".
Very Important Settings
- Account Type: Please use ECN only. Some brokers call it "Raw Spread" account type. Using other account type is a sure way to lose all your fund.
- Timeframe: D1
- Currency Pair: Preferably GBPJPY only. Use other pairs at your own risk.
Money Management Formula
Please see Parameters
Lots = (Account Balance / MM) * Baselotsize
- Money Management - This is used to divide the Account Balance then multiplies it to BaseLotsize. Use default.
- Base Lotsize - The lotsize multiplier after calculating the Money Management parameter. Use default.
- Stop Loss in Points - This is to protect the fund. Use default.