Something different that might help

[Bobrob]

I just started to use the autopilot yesterday, so am a complete nube with this, but just went live with a very small amount last night, of course when the euro/usd ran. The night before I had a demo which nearly doubled its starting value in 24 hours. Here is what I am thinking of doing. Have two charts open with one short ea and one long, since I had 2 lots open both went long and I am sitting here with 25% of my account drained in open orders with 1 closed order I think, if I had two charts one long one short I think my account would be up today instead of down. Anyone tried this yet?

[^eagle^]

I just started to use the autopilot yesterday, so am a complete nube with this, but just went live with a very small amount last night, of course when the euro/usd ran. The night before I had a demo which nearly doubled its starting value in 24 hours. Here is what I am thinking of doing. Have two charts open with one short ea and one long, since I had 2 lots open both went long and I am sitting here with 25% of my account drained in open orders with 1 closed order I think, if I had two charts one long one short I think my account would be up today instead of down. Anyone tried this yet?



What you are referring to is hedging.

That is taking both sides of a bet.

What I have found though is that you need to do this with multiple trades. I am currently using ten trades on two pairs.

You allow the EA to open up to ten trades on any pair. But You must lower your lot size to One tenth of wyhatever size you are comfortaBLE WITH USING. The EA may not neccessarily open ten trades but you allow it by changing the maximum trades to 10

eXAMPLE:

I allow ten trades open on euro usd at .01 lots ( a dime a pip)
If The trend is down and the majority of the trades are shorts
Some trades are long to catch minor upswings that may or may not happen
They are hedged by the shorts if the market continues the down trend.
The math works out to kill the bad trades when they reach around 320 pips loss.
at a 95% win rate out of twenty trades...
19 trades win X $2 = $38
1 trade loses X 32= $32
Net Profit = $6

So set your Stop loss at 320 (I have mine set at 350 but I'm testing something)

So far it has shown promise in both consolidation and trending markets

I did some scalping that did not end up so good so I'm not up as far as I should be.

Letting the EA run til the end of the month to see what happens

[alan]

If you're going to do that don't forget to set a different magic number to the other chart!