General Setting

General Setting

 
  • Initial Trade Type: Initial Trade Type lies on the type of strategy used by trading system. You select initial trading strategy in EA. The EA come with four type of trading strategies. This is the part where you choose the strategy you want the EA to use during trading.
    • Both Side (Long and short): EA follows both long (BUY SIGNAL) and short (SELL SIGNAL) when a signal is found.
    • Any Single Side: EA follows only one signal: long(BUY SIGNAL) or short(SELL SIGNAL), you select which signal come first. In trading we have to not confuse ourselves with LONG or SHORT. This Simply mean BUY(LONG) and SELL(SHORT) EA follows only one signal – long or short (which signal come first).
    • Long Side Only: EA follows only a long signal. The EA will only detect and trigger BUY trades only and will ignore Sell trades.
    • Short Side Only: EA follows only a short signal. The EA will only detect and trigger SELL trades only and will ignore Buy trades.
  • Max Spreads (0-Disabled): Spread is the distance between Bid and Ask price of an asset. You can set filter for max spreads. If you not sure which spread to use leave this as default so that it use CURRENT BROKER SPREAD.
  • Initial Lots Type: Select initial lots type. Lot is the standard unit of measure for a position or size opened by a trader. Lot can be a mini lot, micro lot or standard lot.
    • Fixed Lots: Set your fixed lots here. Determine how much fixed lot to use. With this function all your trades will use fixed lot you selected. Note that this only work when your Initial Lots Type = Fixed Lotsize
    • XBalance: XBalance refers to your amount of capital available in your trading account. Where X is a number. For example if X is 100 means your balance is $100. If this function is enabled lot size will increase/decrease based on your account balance
    • LotsizePerXBalance:  Here is where command on how much lot size to increase if your balance increased. Lot size is based on the asset traded. Some assets accept only Standard Lot(1 lot), some mini lots(0.10) while some accept micro lots(0.01). This function will allow you to put lot size which will only increase or decrease based your XBalanceHow XBalance and LotsizePerXBalace work - For Example, if your setting is XBalance = $100 and LotsizePerXBaance = 0.01 calculation will be as follow: (Your current Account Balance / XBalance) * LotsizePerXBaance = You Lots size. If you Balance is $100 then you lot size will be = 0.01, when your Balance increase to $200 then your lot size will = 0.02, $300 Balance your lot size will be = 0.03……
  • Max Lots (0-mean Disable): Your can set Max Lots size for initial trade (0-Mean Disable).
  • Max Daily Trade (Per Pair): Set daily max initial order (0-Mean Disable).
  • Trend Filter: Trend filter is method for further confirmations using the Trend. By this function you set trend filter using the ADX which is the Average Directional Movement Index Indicator to determine if the market price is trending strongly or not. So if the market is strongly trending entries or signals are entered on pullbacks thereby taking the direction of trend. This is addition trend filter that work with your current entry signal. Trend filter work with daily ADX value. By default, if daily ADX value is above 25, market is trending and ADX value if below 20 consider as market in ranging.