the most effective scalp plan to have a constantly profit of 4-6 pips(fOREx).
-
I'm learning now about robots, and automated processes.
I would like to share effective ideas here to have a small amount of profit in each order, however a steady, and effective gain. -
@tony-1 This is a very large and controversial topic, but here's some general thoughts
- If you trade intraday, focus on most volatile periods -> most important is to maximize candle size / spread ratio, this is critical for long term profitability
- For scalping purposes, go against (weak) trend but don't go against momentum (this is just me)
- Don't try to win every trade, try to get your average entry on positive. Using mt5 netting mode is a big help on this
- Your EA has the advantage of monitoring the market 24/5, so there is no need to use fixed SL and TP - optimize the exits just like you optimize your entries -> closing buys when a sell entry happens is logically not a bad idea
- Your most important developing tool is backtesting. Sketch up some idea -> test it -> if it is a clear failure -> try something radically different -> don't try to polish shit