EA Trial Download
Download the EA Trial here
Click the link above to download your EA. It will trade on the timeframe of the chart you are running it on. Daily is the best timeframe for the EA, and if you want to profit take, you can switch down to 4 Hourly, and it will profit take earlier.
You can view more details in the member video area.
MT4 BROKERS
GETTING STARTED
To first install the indicator and EA, you need to copy them into the respective indicators and experts folders of your MT4 installation.
For instance, if you have the StrategyBuilderFX installation, you would place the expert (CarryGridding.ex4) in
C:\Program Files\StrategyBuilderFX 4\experts, and the indicator (easyforexindv2.ex4) in C:\Program Files\StrategyBuilderFX 4\experts\indicators.
The folder names for different MT4 brokers are always the same, so if you had the FXDD installation, it would be C:\Program Files\FXDD\experts and C:\Program Files\FXDD\experts\indicators.
To get the EA to appear in the EA list, you may need to compile the EA. There is a guide on how do this here. For seperate documentation regarding the indicator, please refer to the indicator guide.
CONFIGURING MT4
Once you have the expert and indicator installed, they should appear in the navigator as follows.
If you drag the name of the expert (CarryGriddingv4) onto a chart, you will see a dialog box like below. You need to ensure live trading is enabled. The indicator should be visible in a window below.
Once everything on the EA is set, you need to ensure Expert Advisers are enabled. Then you should see a smiley face as in the screen below.
Thats it! Now we wait for positions to be placed. We recommend you start on GBPCHF/GBPJPY, and use a demo account initially to monitor the progress of the EA for at least a month before trading this live. It is always important to carry out your own due diligence.
SYSTEM THEORY
This system is a hybrid of 2 strategies, which gives us the best possible chance of success.
Carry Trading
The Carry trading element means that we only trade in the direction of the swap. We only trade whereby we get paid to hold positions. The swap can accrue to be very significant amounts, and it greatly increases the ability of your account to sustain withdrawals. This is a powerful tool to protect your investment and ensure your trades are winners.
Trend Trading
The Trend trading element looks at the trend on daily charts and will only active the trading if the long term trend is with the swap. If this is the case, the position spreading code will enter us into positions as price points are broken. If the trend is against us, no trades will be opened.
Position spreading
By spreading our entry on the breakout side of the price, we can look to optimise entry and spread our investment. It allows us to scale into positions as they become profitable - adding to winning positions is a better strategy than adding to losing positions.
In addition to this, we have money management features in place, so we can take advantage of compounding of returns, and trade whatever size our account is.
Trades are only closed when the major trend indicates a swap-negative trend has started (usually SHORT/SELL). If the trades are in profit (including swap) then they are closed - otherwise they are held until they are in profit. As we are always accruing swap, this is just a matter of time. Once the trades are closed, the EA will then wait for the next buy signal on the daily chart before opening more positions on the next upsurge.
Worst Case Scenarios
The worst thing that can happen with any system is a large drop in the value of a currency. With our position sizing we have insured that we have sufficient margin to survive a very large fall in value. Historically, this system has survived every market condition thrown at it for the last 7 years. Trades often panic and enter stop losses or close losing positions. It would be possible to add a stoploss to each trade, but it would impact overall returns. However it may be added in the future for those traders that wish to have it.
The operational parameters of the EA are listed at the end of this page;
EA PARAMETERS
- StratName- This is the name of the strategy for comments only.
- GridMesh - This is the distance between points on the grid. Default is 25, but you can widen/tighten the net.
- GridMaxOpen - This is the maximum number of positions that will be opened. Should be used in conjunction with GridMesh. Ideally you want to cover a 500-1000 pip range, so you might set gridmesh to be 100 and gridmaxopen to be 10 to have a conservative setting.
- minFromPrice - This is the minimum distance from initial price before we make a trade.
- suspend Strat - If you want to stop the strategy from placing positions, then set this to true.
- exitAllPositions - If you want to close all positions both pending and open, set this to true.
- Risk - The default setting is 1. The maximum setting that has been testing successfully is 1.3. This is a multiplier for the lot size if you wish to increase the risk.
- UseMicroLots - If you have a mini account or an account such that you will need to trade lots under 0.1, then set this to false. Some brokers do not allow trades to be placed under 0.1 lots, and so in that case set this flag to true.
- Stoploss - whether to place a stoploss with each trade, and how big that should be.
- CloseAllOnReverse - whether to close all trades regardless of current profit levels on a trend reversal.
- CloseOnlyProfitableAllOnReverse - whether to only close profitable trades, used in conjunction with the CloseAllOnReverse flag.
- For Version 3;
CloseAllOnReverse being set to false, and CloseOnlyProfitableAllOnReverse set to true will result in only profitable trades being closed CloseAllOnReverse being set to true will result in all trades being closed regardless of profit
- For Version 4;
CloseOnlyProfitableOnReverse will close only profitable trades if set to true, else if it is set to false then losing trades will also be closed.
- UseManualLots - if the automatic lot size is too low for your account, then you can override it by setting this property to true, and setting the ManualLotSize to be your account minimum/desired lot size. this is set to false by default.
- ManualLotSize - the lot size to use when UseManualLots is set to true.
- (Version 5) TrailingStop - true will use a trailing stop, defined by the TrailStopLevel.
- (Version 5) TrailStopLevel - the trailing stop level, defined in pips. Once the order is TrailStopLevel profit in pips,
it will move the stop to breakeven, and then as it moves further in profit it will move the stop up with it.
