Hi
I have an customer EA from a old trading group that I want to get going again.
The current EA has a large SL and a small TP, which use to work well. Now Im wanting to reduce this and make it more profitable, again.
I just dont want an indicator added to make this work again, I need help to understand what the strategy is and fine tune it to make it work again.
I'm also happy to here ideas and build on the strategy.
I was also considering on reducing the SL and TP to 15 each, but need someones help to fine tune this.
To assist with the profitability, i was think the following money management.
The data I've been using is showing better results and something that can be stomached a lot better if a stop loss is it.
original trade TP 15 and SL 20
limit order at 15 and TP 15 and SL 30
Still need to be optimised, as I don't know if my data quality is miss leading me.
Compounding changes (turn on and off). I guess a new way of the money management.
• Each profitable trade is now added to the risk, however the trade cannot lose anymore than the profit that has been made.
• Once/if stop loss is hit, the next trade risk needs to take this into account and again, the trade can only risk the residual profit.
• If first trade is a stop loss or a loss brings the trading capital to original balance, standard settings apply. Maybe have a variable input function that stipulates original trading capital.
• Have a variable input on the percentage of your new profit you want to risk. For example, for a lower risk we can input 5% or the higher the risk we want to take, I can select all the way up to 100%
by doing that, stop loss has less of an impact and gets in and out of trades a lot quicker
This EA was very time specific, I think this needs to be optimize.
The only indicator I was considering, was a trend reversal. for example, if we were in a trade so many pips, this would close and add that loss onto the TP etc.
I also need help to obtain quality AUDNZD data to up load into mt4 so I can back test and play around with, so if this can be provided, that would be great... at least 5 years? This EA is current built for 1 min but would like it to work on 5 min as well.
I'm open for a lot suggestion to make this work, so creative thinking is a must.
I will provide the successful bidder with the EA
Cheers