Strategy - Set And Forget (with Martingale system) MT4
This is a powerful addition to your MetaTrader 4 toolkit designed to optimize market analysis and performance. This script functions as a utility program designed for specific, one-time execution tasks. It is utilized to perform targeted actions, such as closing all open orders, managing chart objects, or executing custom administrative commands on demand.
How to Setup and Use Strategy - Set And Forget (with Martingale system) MT4
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
Description & Settings
DEFINITION :
Before we start, it is important to define the
Martingale system
. It is a system that allow you to increase the size of your position as the trade moves against you or after a losing trade. *
INTRODUCTION :
This strategy is the well known set & forget accompanied by the martingale system. It is very useful if you are very busy in which you don't have time, you want to trade the London session while you are sleeping in USA, etc.
Do not forget to send you comments as well as rate this script. Happy trading!
HOW TO USE IT :
You can check the following video that will explain
The set and forget strategy (with the martingale system)
Who usually use this strategy,
How to compile the script, and
How to use it in real example
PARAMETERS :
This EA has 5 inputs
1st input (NB TRADE): Specify the total number of Stop limit (Buy/Sell limit).
2nd input (INITIAL ENTRY): Specify the initial entry price.
3rd input (INITIAL STOP): Specify the initial stop loss.
4th input (INITIAL TARGET: Specify the initial take profit.
5th input (POSITION SIZE): Specify the position size of each trade.
* LIVE TRADING SESSION: (How to properly trade small accounts - KNOW WHEN TO STOP).
This is an example that I was using the
Martingale technique
IMPORTANT INFORMATION YOU NEED TO KNOW
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Please note that investing involves risks. Any decision to invest in either the real estate or stock markets is a personal decision that should be made after thorough research, including an assessment of your personal risk tolerance and your personal financial condition and goals. Results are based on market conditions and on each individual and the action they take and the time and effort they put in.
