Hey Everyone! My name is Jeremi. I have been off and on T2W over the last 8 months of my trading journey. I hit a lot of bumps and lots of emotional times. Fortunately the loss of money has not been significant... Thank you Micro FX accounts :clap:
Apart from an introduction, I am nearing my first year into trading. Honestly... then only thing that has kept me going is reading the horror stories about the 95+% who fail at trading and listening to the upper 5% that are successful. Every successful trader will tell you that they failed their first 12 months and the difference was that they didn't quite... where the other 95% did. This means one things... the learning curve for Trading the markets is steep!
But the thing that I saw is that in every successful trader, once that learning curve was smashed... trading became easy. They just talked about trading as if it was second nature... and that is what I wanted.
So now... nearly a year into things, I think things have clicked. I have stopped running my micro accounts (all $50) into the ground on a weekly basis and some weeks I have made consistent 20% daily gains. I am finding that it is all about fine tuning 3 main areas... signal indicators, money management, and market understanding/psychology.
So about signal indicators, money management, and market understanding... This is where I wanted some help. In my endless hours testing signal after signal and the infinite possibilities that you can create with all the signal combination, money management strategies... topped with ever changing market conditions... I think I have found what works for me nearly 100% of the time!!!
Over the last 50 trades... I only lost 1. Trades are on a 5 minute chart and the Profit Target is only 10pips... So the trades come often (at least once an hour). I am trading E/U, E/J, A/U, A/J, and C/J pairs... max of 3 active trades at any one time. I am basing trade entry on 3 conditions and highly funtioning trade (money) management. Once the trade hits +7, Stop loss is moved to +1 so if the trade reverses I still take (minimal) profit. If the trade goes to -7, Profit target is dropped to +1 (Stop loss is at -16 with spread included). Again... 99% of the time the trade will close out with a gain... even if it is +1. The trade is going to +10 about 70% of the time.
So here is what I am wanting to do... In all my searches I discovered expert advisor on the Meta Trader 4 platform. For those that don't know... Expert Advisor (EA) is a programmable auto trader. Similar to a robot but with more defined conditions... The criteria I want to put into EA are the following.
1.) Meet the 3 entry criteria based on 3 signals (all must be met...)
2.) Place the trade with a PT+10 & SL-16 (with Spread included)
3.) Place a maximum of 3 active trades at any 1 time
4.) In the active trades...
a.) When Price hits +7, SL moves to +1
b.) When Price hits -7, PT moves to +1
5.) Maximum of 2 losses (5%) in any 24 HR period (i.e. EA stops placing trades)
6.) Maximum of 20% gain in any 24 HR period (i.e. EA stops placing trades)
7.) Dynamic position size for the trade based on account balance
(i.e. $50=1K, $200=3K, $500=6K, $1000=10K... etc...)
That is it... I want to turn this guy on and just let it do what I would do without me being there
Now... I have very basic programming skills but nothing that can create the above in MT4. So I could use all the help I can get in designing this. If anyone knows about programing MT4 or any websites/books that are good for beginners... let me know!
If you have any questions, please send them to me as well! I am not interested in giving out the signals I am using as I find that signals are a personal thing. What works for one will never work for another... as I have discovered by sifting through countless signals claiming to be "the answer"! Plus... if this does work well at 20%/day return... that is an EA with intellectual property value!!!
Thanks for your read!!!
