Thanks Sparky,
did you do any optimisation and also does the system comes with auto-MM or any advice what MM one should use with this system?
James
I just got this EA last week, so a lot of this is new to me. I just got done doing some optimization on eur/usd. I will probably use these settings for next week.
Here is some money management for EA:
In case you trade one instrument, for instance EUR/USD, there is no problem how to manage a lot size and spread risks. The issue become more complicated if you trade several pairs and they have different nature and behavior.
I'd say that my trading style is moderate that assumes RiskFactor=2 for one instrument for EUR/USD and similar pairs. The formula for lot calculation is:
LotSize= (RiskFactor* AccountEquity/100)/100
For instance, LotSize= (2* 500/100)/100= 0.1 standard lot for $500 deposit and RiskFactor=2;
In case you trade several pairs at the same time, the risk must be approximately equally distributed between those and instruments with higher High-Low range, e.g. JPY-based should be traded with smaller lots or lower risk factor. Since all instruments not always are traded simultaneously, the sum may exceed calculated lot size by 10-30%.
There are several examples of lots distribution for $500 account.
Combination 1:
EUR/USD -- 0.05
GBP/USD -- 0.05
Combination 2:
EUR/USD -- 0.05
GBP/USD -- 0.04
EUR/JPY -- 0.02
Combination 3:
EUR/USD -- 0.04
AUD/USD -- 0.04
GBP/USD -- 0.04
Some pairs that move by hundreds pips daily require even smaller lot size, e.g. 0.01 for GBP/JPY.
Automated Trading
