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This is a Price Action based EA. No martingale or hedging strategy is used here.
The EA is for EURUSD Only.
Entry Logic:
- Support resistance to determine the area of buying and selling.
- We don’t enter market if its a ranging market.we filter ranging market with Bollinger band and ADX.
- Also we check the market trend.only enter for buy if its an uptrend and sell if its a sell market.
Exit Logic:
Usually, we have a fixed stop loss which is very low according to the Take profit.
Also we have trailing stop function.
Money Management Logic:
We have used several effective money management logic here.
- We use at least 1:2 Risk Reward ratio.
- When a trade goes in profit at least 20%, we put a trailing stop there. your profit will be locked in 20% profit and the stop loss will move automatically after every 20%pips profit.
- After getting in profit, your 50% position will be closed,so you are out of risk for that trade.because you booked 50% profit and locked your sl.
- Your lot size will increase/decrease according to your balance and profit.
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