GUM – Signals (Expert Advisor) –
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GUM – Signals (Expert Advisor)
This Expert Advisor (EA) or bot, will help us in the management of the signals with the signal provider we have hired. This EA can be useful to us to manage the inputs of our analysis, we could add up to 6 take’s profit’s if necessary.
When using signals the most important thing is to protect the capital, that’s why if the signal provider you have contracted with only has to introduce the signal in the bot and leave the rest to the service of the EA.
Suppose we have indicated 3 take’s profit’s, the following scenarios can be given:
- The first assumption is that the price goes against you, this is the worst case where you will jump the SL losing the percentage of your account balance that you have indicated as a parameter. E.g. balance 1000 euros at 1% risk, the maximum loss if you reach the SL would be 10 euros. We recommend that you do not risk more than 2.5% of your account balance.
- The second assumption is that the price goes in your direction,
- The price reaches TP1. Then EA will close half of the position when it reaches the first take of profit (TP1) and will move the stop loss to the entry price (breakeven), if it returns in the direction of the SL it will close the rest of the order in breakeven, although we will have already received half of the profit for having reached TP1.
- The price reaches TP2. EA will close half of the remaining position (from the half it closed in TP1) when it reaches the take profit (TP2) and move the stop loss to the TP1 price, if it turns against it will close the rest of the order in TP1.
- The price reaches TP3. If your signal provider has 3 levels the ADP will completely close the remaining order and end the flow of this signal. If your provider had more TP levels they would be carried out successively in the same way.
In the following video we explain in detail how the EA works:
Roboforex registration process (display)
Roboforex registration process
Register in Roboforex here.
Watch the video to get a good feel for the process:
Do you need a VPS? (display)
Do you need a VPS?
There are many VPS, although we recommend you the virmach one we have been working with for a long time, click here.
Discount codes here.
Watch the video for more information:
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