Disliked{quote} Hi Fareed, Thanks for the detailed reply. I've been trading a few years now but still consider myself inexperienecd compared to other but I can work out the trends. From what you said it doesn't appear that blessing will trade the trend for you automatically and is where I was coming from. As I'm part time trader, around my main job, it would have been nice to have an input in the EA that you could enable to trade the trend on the chart timeframe you preffered. Not sure whether Richard could write this into the EA in a future version....would...Ignored
Cdsaa listed XAUUSD set file for 5 minute chart. Richard BT and gave us GBP pairs set files 15 minutes chart.
In all cases we allow certain portion of our available balance to each SET file. Equity stop loss is to protect your account balance, it blows certain amount of allowed portion only.
For example: XAUUSD 5 minute chart will display TREND DOWN and open trade SELL 0.01 but after 10 minutes TREND UP means your open lot is in NEGATIVE/RED pip. with cdssa settings blessing will open one double lot 0.02 and continue opening bigger lots 0.03, 0.06, 0.08, 0.12, 0.16, ie... It does Maximize your profit as well. As per settings Maximum 12 trades are allowed, and if you are caught in against the trend then you gonna hit equity protection and Blessing will catch the trend and recover your loss and start maknig profit again. Just so you know XAUUSD produce $1000 to $2000 monthly profit but you may hit equity protection once in 6 months.
Few posts ago, I did forecast XAUUSD will retract back upwards and its happening now. How did i know that? Banks trade with charts so i learn to trade with them.
But if you don't have any experience then use cdsaa & richard set files the way it is. I will suggest you to allow 1% of available balance or check the percentage that allows XAUUSD to use $2000 to trade from your account balance. and set 60% equty protection. which means if you are allowing $2000 so it will blow $1200. and if equity stoploss ever hit, blessing will recover the loss in 15 days to a month and back to profit again.
Hope this help.