On this page you will find setup tips and learn how to avoid common mistakes.
General tips:
- all pip values like take profit are to be put in as you would do on a 4 digit broker
- if you don't want to use staking plans (increasing/decreasing lot after winning or losing), don't forget to set multiplicator back to 1 and staking_method to reset after win (only necessary if you changed it before)
Money Management:
- Risk can be a very low value. If you set it to 0.0005 and have 10000 in balance, your initial lot will be 0.05.
- Of course minimum lot will always be 0.01.
- maxLot should either be the limit your broker sets or the maximum lot you want the EA to trade.
- Trailing stop functions similar (with some small changes) to the trailing stop explained in this video:
- Multiplicator can of course also be used to decrease the lot to be traded when you set it below 1
Martingale:
- Martingale Take Profit only kicks in, when a martingale trade is opened. However it is not obligatory to use it if you want to use e.g. Trailing Stop instead - Set to 0 in this case
- PipGap determines the risk you want to take with the dynamic martingale. 1 is the lowest value and also means the greatest risk and presumably greatest profit. I usually optimize this parameter between the values 1 to 10.
- Even though it is not necessary, re-entry level should always be a higher value than PipGap. I usually optimize this parameter from 10 to 100 with steps of 10, or 20 to 200 with steps of 20.
Common mistakes:
- setting up the short moving average with a higher period than the long moving average does not make sense for the trading logic, therefore I coded it to fail initialization in those cases
- a pipGap lower than one is not allowed to set up either (when using martingale)
