Martin for small deposits
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 Martin for small deposits
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
Martingale based Expert Advisor specially designed for small deposits. This feature is enabled through the configurable parameter "Number of bars to be skipped", which means skipping the specified number of bars after the last entry.
How it works: suppose we have the first open BUY position, and a new entry signal emerges on the next bar (the price moved down by "Step between positions"). More signals to open BUY emerge on the next two bars. A regular martingale would open four consecutive positions with the following total volume (taking into account the starting lot of 0.01 and the multiplier of 2.0):
#1 BUY 0.01
#2 BUY 0.02
#3 BUY 0.04
#4 BUY 0.08
This load can destroy small deposits. Our EA with "Number of bars to be skipped" (let it equal 3) would open the first BUY 0.01 position, skip three bars and open the second BUY 0.02 position.
Input Parameters
Volume
- position volume;
Take Profit
(in pips) - take profit value;
Step between positions
- step between position;
Number of bars to be skipped
- the number of bars to skip before opening a new trade;
Volume increase factor
- volume multiplier for each subsequent position;
Max volume
- maximum allowable position volume;
Min profit for close all
- minimum profit, at which all open position should be closed.
Testing on EURUSD,H1:
