One more try…

Ok, I thought I’m not going to touch forex for a while… cos I can’t find any system with good odds…. Anyway, today, for no particular reason… I opened MT4 again… I think I just wanted to check the USDSGD rates…. but I’ve decided to write any EA… this time, I use the most basic definition of trends to try and program a scalping system… higher highs, higher lows….

Forex EA Revision

I’ve made some revision to my EA for forex.
I’ve decided that I’ll use only 5% of my funds for each trade, instead of the initial extremely aggressive 20%.

1. For GBP/USD, it effectively reduced my profit from 15k to 5k, but I think this is a risk level that I am more comfortable with. Moreover, the declie from the peak profit to the final profit is not so steep. Initially, the peak profit was 70k, then reduced to 15k. Now, the peak profit is about 9k, then reduced to 5k. So, even if I enter at the wrong time, I won’t suffer a steep loss.
2. For EUR/USD, the difference in profit was less than 1k, so the lower risk definitely makes more sense. In addition, if I stop trading on 1/1/08, using 20% actually results in a loss vs a profit of $400 with 5%. If I use a fixed lot of 0.3, I’ll end up with a loss of 700.

Anyway, here’s the parameters I’ll be using:

SL 100, TS 100, Percent 5.