Hi Folks,
I am a total rookie in trading (never done a single live trade), but I think I found a strong passion already. Starting 2 weeks ago I got into the topic. By now (hundreds of YT videos and forums) later, I have a demo account and decided that EA is the way to go, as it eliminates emotions, and is scalable.
I am already working on an EA loosely based on the "Arty" trend-following strategy. I am however struggeling with one particular thing since the beginning: Money Management in "Buy Now".
Here is what I try to achieve: Being a serious trader, and a rookie at that, I want to play very conservative, risking only 1% of my equity per trade. So in plain English: My demo account is at about 1000 EUR. Based upon my stop-loss I want to risk 10 EUR per trade.
I created an example of what I mean: https://fxdreema.com/shared/2Uk474QBd
Now I export to MT4, compile and run it. You can see the expert properties below:
However, when I run it, this never adds up. In this example it trades roughly 5€ per trade (surprisingly making a profit overall).
What is it that I am missing in my understanding about the money management settings?
How can I set it up, so that it trades 1% (x%) of my equity per stop-loss size? Meaning I risk 50 pips here, so that should equilize 10 EUR if my account is 1000 EUR. If I change it to 20 pips stop-loss, it should resize the lot to make it worth again roughly 10 EUR.
I have been reading through a lot of articles, and tried nearly all options in the "Buy Now" block, but could not get a hang of it. I hope some of the wunderful people in this forum will help me out to grow.
Cheerz from Germany,
Dan