10pips Once ADay Opposite Last NHour Trend
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use 10pips Once ADay Opposite Last NHour Trend
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
Description & Settings
10 pips per day opposite to the "yesterday's trend".
Is it possible to make 10 pips a day? The question is not new, but it is very interesting for me being a beginner. As I have seen, it is pretty hard to earn 10 pips of profit during live trading.
I tried to do some research in order to make my 10 pips per day. It all resulted in the "once a day" trading system. I open only one position a day, at the beginning of the day. First, a trend following position, then against it, then with stop orders, with special SL and the TP, and so on ...
Finally I chose an Expert Advisor that opens one position a day against the "trend" at a certain hour. What does trend mean within this Expert Advisor? It's just the price difference in the range of N bars. As it usually happens, after a simple optimization I received an interesting curve.
She showed 6/1 winning trades and 26/2 max consecutive winning/losing trades. I added a martingale to have a reasonable money management system and to get an even more beautiful curve :-)The Expert Advisor showed profitable results over the last 7 years. If we use the money management with the minimum risk, not the fixed lot, but optimized over the last 2 years, older results will be worse.
Main features:
Currency pair: EURUSDTimeframe: selected automatically (you can set any)Position opening: 07:00 CET (Central European Time, + 1 GMT)Maximum position lifetime: 75600 sec. = 21 hoursThe number of hours to check the price difference in order to define the "Trend": 30 hours
You can change/optimize these variables to get different results:
FIXLOT: If 0, the maximumrisk variable will be used in order to calculate lot, otherwise the specified lot value will be used for trading;MINLOTS: minimum lot;MAXLOTS: maximum lot;MAXIMUMRISK: maximum risk if FIXLOT = 0 . In this case, it is probably better to use FIXLOT = 0 and MAXIMUMRISK = 0.05 (0.02);SLIPPAGE: maximum allowable slippage.
TRADINGHOUR: the tome at which positions should be opened;HOURSTOCHECKTREND: the number of hours to check the price difference in order to determine the "Trend";ORDERMAXAGE: maximum position lifetime — older positions will be closed.
The EA contains an element of martingale: in case of a losing position the lot of the next position will be multiplied.
FIRSTMULTIPLICATOR: multiply lots if there was one losing position;SECONDMULTIPLICATOR: multiply lots if there were two losing positions;THIRDMULTIPLICATOR: multiply lots if there were three losing positions;FOURTHMULTIPLICATOR: multiply lots if there were four losing positions;FIFTHMULTIPLICATOR: multiply lots if there were five losing positions. STOPLOSSTRAILINGSTOPTAKEPROFIT
Here is a question to experienced traders:
What could be a logical reason to trade like this? Is this only an over-optimized history without any chance of success in the future, or does this trading strategy have some logical basis?
