Hello guys, I am just starting in Forex, and I suck at maths and well.. I need your help to understand things better.
I have an account of 100$ for starter, and i'm running an EA that is most likely a scam but well, it works until i understand things, i'm trying to figure out the lot sizes, like I tried 0.08 and I got cents in return which is terrible, and it doesn't trade much like barely one trade a night or nothing at all, i'm not sure how to raise my trading and profit but still stay on the safe side.
I have 2 options in the EA: Lot size, and LotsRiskReductor, I'm not sure what to fill out in there, all the formulas just dont seem to get in my head.
So I'd appreciate it if anyone of you can help me understand how all the formulas work to know which lot size I can use and what my profit is going to be if I used xx lot size.
Thanks.
submitted by noob here.. apologies in advance if this isn't supposed to be here..
so i have been trading in crypto on the side for about 3 years now and just decided to take a leap into the Forex game. I'm quite busy in my day life (architect) so I wanted to try out an EA.. Running on mt4 with alpari, the bot has made me $65 on a $250 investment in about 36 hours..
this morning i closed 2 charts and loaded the EA onto 2 new pairs, to realize that the orders the bot had set on the previous closed charts were still open, yet the bot was not active on those charts. So i felt that i needed to re-open the charts back and reload the bot onto them so that it can do its work.. the bot's current set up = 28 open orders on 5 different currency pairs... will that wipe my account?
TL;DR my question is: how many different currency pairs is it safe to run the bot on?
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They started guide is somewhat not much information but their member area does absolutely fill this gap. I see a lot of stuff in there included extra downloads, extra tutorials and updated set files frequently as they promise. In addition, as you’ll see, they provide 4 extra daily trading signals on the EA official website. I don’t use the forecasting signals so cannot have any comments about the signals.
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The strategy itself is pretty complicated that you have to be careful to read their instructions or using set files on official site only; a few signs which are provided with Metatrader are affected in an ingenious approach, so the entry signals are identified. It’s retry iterations for opening/closing orders, signifying a particular amount of expertise with automatic trading in live. Instead the DLL programming is sometimes a hurdle for EAs working on multiple pairs with the identical DLL, in this situation it appears to be entirely threaded safe.
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