Hello, can someone explained inputs below, thanks
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Unrealistic expectation is one of major reason for failing in the trading. Especially new trader makes that kind of mistake. Knowledge is the main power in trading. So, try to acquire it first.
yes agree completely , most of the time we the traders always choose our trading target with no analysis and it becomes totally unrealistic. thats the big problems
generally newcomers do that , because newcomer always try to bring profit very rapidly , as a result they become loser
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Completely agree with what’s already been said. It looks to me like you’re looking at external inputs for an MT4 EA. If you can’t look at that and figure out what it wants and why, you should probably read any available documentation and / or consult the author if possible. Not sure what MM means in this case, but some of it is very obvious. It’s allowing the user to configure lot settings, what kind of stop to use, trading hours, and establishing magic numbers to tell trade strategies apart. There’s likely all kinds of code behind that taking your inputs and doing … something… with them. If you don’t fully understand what that something is, don’t do it.
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I’m trying to, but could you please check if inputs above make sense
Thank you we’re getting closer, I can’t contact the owner, but in your opinion does the numbers corresponding with the following make sense:
Lot Exponent
Max Lot
Trail Start
Trail Stop
Slip
No idea what LotExponent is. 55 would be an odd leverage to select, so I’m not really sure what that is referring to. Lots is set to .01 which is a micro lot, and MaxLots is set to 1, which could be allowing the bot to scale up to a full lot?? TrailStart and TrailStop whether or not appropriate will entirely depend on how the strategy works and how those numbers are used. As far as slip goes, one of the things you submit with a standard order is Maximum order slippage. I’m not personally a fan of 5 pip slips being allowed, but again, it all depends on how this strategy works. Can you share the name of the EA or any reference material to help us understand? Without more info, long story short is it’s hard to say what’s an appropriate value and what isn’t.
Yeah sure the name is EA HolyGrail, but that’s all I have, no documentation; I let the ea, I have several, do my trading and they wiped out my account, 9K, and it hurts, so now I’m trying to see if I can’t update some of the inputs, I’m not giving up, I’m intending to bring more funds, but I need to fix the inputs first and I don’t understand any of the lingo
Sorry to hear that. You gotta be careful, friend! I know there’s a holy grail thread here somewhere. I’ll see if I can learn a little about it. Highly recommend when you have your new inputs you spend some time letting the EA prove itself in a demo account before you risk real treasure!
Thanks, no problem, yes I’ll be careful going forward, I appreciate your time
Is this it?
No I don’t think so
before going to an EA or expert advisor, one needs to have an idea about trading and proper research of whats happening
@Jorik123, How can you trade a 9k account and not know what the Bot parameters do???
MM: MoneyManagement = TRUE – if TRUE, then calculate lot size automatically based on Risk (Total Equity Risk). If FALSE, then use ManualLotsize below
Lot Exponent: To determine the Lot exponent of say the 3rd order. The 1st and 2nd order are same (Lot) parameter. Position 1 will be 0.01, Position 2 will be 0.01, Position 3 will be 0.01 x (1.55) Lot Exponent.
Another name for Lot Exponent is Lot Multiplier which increases or decreases Lot sizes as either a loss is made or profit is made… Logic generally used for Grid Trading applications.
Sometimes… I cannot believe what I read in these forums…
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I’ve had this same thought. I’ve decided it’s actually pretty simple. Forex naturally attracts people who are seeking the secret to riches. EAs are a natural extension of that. Not only get rich quick, but let a robot do it for you! What’s not to love?
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I really found this helpful I now understand lot exponents… But how about MARtiScalper? Is it the same as Scalping?