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This was proven to be successful on demo but not possible using a live account. Details are provided in the Forum for you to do this. That is why this EA is sold at a reasonable price. Don't get your hopes up too much. Technically, it works perfectly on 5 digit brokers with "normal" price feeds and will work on any broker account.
Initial, unofficial tests show that it is possible to trade the 4 hour, 1 hour, 30 minutes, 15 minutes, 5 minutes and 1 minute timeframes on ordinary broker accounts. This EA is not robust on normal broker account 5 digit accounts and that is why it is sold for a affordable price. Continuous improvement Forex Transaction checklist 2nd Secret: Trading the Bounce and breakout of short term ranges. The high for the period The low for the period The opening price The closing price The gains made by the bulls or bears The range of trading during the period.
Understanding the Candle EA. The first instruction it asks is the minimum size of the candle. Why this is important is that candles that are too small may not have the minimum volatility to give a reasonable result. When candles are very small like say 2 pips trading decisions may not give consistent results.
This setting is also very dependent on the timeframe used. The best way to determine and refine this setting is by using optimisation and forward testing. The instruction required if you want to the EA to trade breakout trades or bounce trades. This a drop down menu option. See the discussion prior to this section how to decide that.
This instruction requires your to tell the EA whether you want to trade Buy only, Sell only or Buys and sell together. You may get an entry signal when the broker has increase the spread due to announcements, weak-ends, liquidity etc.
You should not trade when spreads are abnormal and this setting will protect you from doing so. This setting will vary from currency to currency and broker to broker. Common-sense is a good guide to use when determining this instruction amount.
The next instruction you have to give the EA is how to position size your transactions. This is related to how much do you want to risk per transaction. There are 4 methods. Experiment with all 4. Try not to risk more than 1 or 2 percent of your account in the beginning using any of the methods.
The next instructions are how big your stop need to be in pips. Simply enter the amount. The amount are best determined by optimisation and forward testing.
The next instructions are how big your targets should be in pips. The next important trading instruction is what time of day do you want to trade. This is very important as there will times of the day when breakouts mainly occur and times when bounces mainly occur. If you want to trade both you simply need to open the EA on 2 charts.
On the one chart you would trade breakout settings and on the other bounce settings. Remember to change the magic number as you are trading the same currency with 2 EAs. You can choose the include and exclude certain days of the week. The last instruction is what magic number you want to use.
It is recommended that you use a different magic number for every different currency. You have to use a different number if you are trading the same currency on different charts. The Candle EA Forum. Optimisation training is provided in the Forum.
This EA comes with sound logic and trading principles. It simply buy or sells the previous candle low or buys or sell the previous candle high at a time of day using the stop and target specified. The forum will be the place where questions will be answered and trading experiences shared. When a new data is released, the calendar page is automatically refreshed so you do not miss it.
If you want, you can enable a sound notification for all releases. A flag icon indicates the country of the data release, and next to it, its currency.
So you can quickly scan and see what currencies might be affected today or in some specific days. Shall a bar be red and long, market observers expect this data to have great probability to move the Forex market. Shall this bar be yellow and short, the probability is viewed as low.
For all economic calendar indicators, you will find the Previous number: For most indicators, we add a Consensus number: Better or worse than expected? If we had a consensus published, it comes either in green it means the data is better than expected or in red worse than expected.
You might want to focus on some type of data and ignore the rest: You can type a keyword or select countries, dates range, event categories or volatility degrees. If you always need to see the same data when you come to our calendar, you can save your settings for the next visit!
We said efficiency, right? We have more to give you that just the data you see at first sight. If you click on the name of the event, that will deploy a space with more information:. Big news events can, and often do, cause big swings with a single movement going several percent in one direction.
To know the events and releases better and learn different aspects that can influences or improve your trading, we collected some of the best educational articles, reports and videos about news trading.
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