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How to Write Fast Non-Redrawing ZigZags
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A Pattern Trailing Stop and Exit the Market Developers of order modification/closing algorithms suffer from an imperishable woe - how to compare results obtained by different methods? The mechanism of checking is well known - it is Strategy Tester. But how to make an EA to work equally for opening/closing orders? The article describes a tool that provides strong repetition of order openings that allows us to maintain a mathematically correct platform to compare the results of different algorithms for trailing stops and for exiting the market. |
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You program the EA using MQL4 to do what you want in terms of strategy . . . |
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nlkn5: I'm quite new to EA and bots and have been quite confused as to how they work. What i don't seem to grasp is how does the EA/robot For instance, say, i have a US$ 2,000 Forex trading account. The brokerage gives a 50:1 or 100:1 leverage (Note that I don't have an account with a broker yet) You can open a demo account - no cost
How does it know how much of my account to use? What the EAs creator determined. Does an EA/robot automatically Buy/Sell multiple currency pairs OR do i need to have separate EA/robots each for different pairs? Either way. The easiest is for the EA to work only with the current chart. You decide with charts you put it on. One EA - multiple charts. |
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WHRoeder:
some more to ask. I need a scenario based description, or better a step-by-step guide using a typical scenario. Is it possible if you can do that using my example of the US$2000account in my topic question. How will you create a robot around this scenario? Or can you please suggest a website/blog that provides detailed steps in creating robots based on scenarios or examples. I ccan only better understand the concepts of creating robots this way. Thank you for your help. -- Nick |
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Read the Book. http://book.mql4.com/
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Strategy first, maybe start here - study these for 3 months or more then look at the Code Base here for EA examples Most important is to pick one pair, study that pair in depth and find a strategy to suit & decide whether you are scalping, intraday, swing or position trading If you don't know what these terms mean, hit Google & learn -BB- |
Hi,
I'm quite new to EA and bots and have been quite confused as to how they work.
What i don't seem to grasp is how does the EA/robot
automatically enter Buy and Sell signals?
For instance, say, i have a US$ 2,000 Forex trading account. The brokerage gives a 50:1 or 100:1 leverage (Note that I don't have an account with a broker yet)
So, if everything is automated, how does the robot
manage my $2,000 account and utilizes it to Buy and Sell on my behalf without me doing anything?
How does it know how much of my account to use?
Does an EA/robot automatically Buy/Sell multiple currency pairs OR do i need to have separate EA/robots each for different pairs?
Your help is much appreciated.
Thanks
-- Nick