I think VS_PipsCola_D01 was ready for distribution. But before that I better explain its parameters first. I probably will not include the manual, so I'll publish them all online via this blog. And for simplicity I will divide these parameters into several sections. And this section will explain the parameters associated with Money Management or any parameter that affect in your risk. For Trading Time section, you can see in the VS_PipsCola Trading Time Parameter.
It could be said that all of my previous EA will fail to calculate Lot size correctly on non Dollars account. Therefore, I try to change it in order to accurately calculate the lot size for all types of deposits. Hopefully, this formula works, but if not you should be forced to perform calculations manually.
The following parameters are used by VS_PipsCola_D01 related to Money Management.
MM bool = true. This parameter is telling the EA whether to calculate the lots base on the available margin. If this parameter is set with True value, means that EA will calculate the number of lots based on the Free Margin. Otherwise the EA will look to the other parameter to determine the lot size.
Double RiskPerTrade = 5; parameter is only meaningful if you set the MM parameter with True. RiskPerTrade means the amount of margin that will be used for 1 transaction. RiskPerTrade = 5 means that the margin for each transaction is 5 percent. However, the total margin that may be used by the EA is also influenced by other variables namely MaxTradePerPosisition.
MaxTradePerPosition = 3; this parameter to set the number of transactions allowed for each position (Buy / Sell). However, this parameter will affect your risk, because the larger the value of this parameter, the more margin to be used. If you set RiskPerTrade with 5, and your MaxTradePerPosition is 3, meaning the amount of margin that is used to open the three transactions are 5 x 3 = 15.
Double Lots = 0.1; parameter is only meaningful if you set MM parameters with the False value. Regardless of the value that you fill in this parameter, over the free margin is sufficient, then this parameter will be used to determine lot size for every 1 transaction.
int StopLoss = 60; I think this is very clear parameters. You must determine how many stop losses are used for each transaction. You do not need to worry if your broker uses 4 digits or 5 digits. 60 always means 60 pips does not matter with your broker digits.
int MaxLossesToStopTrading = 1; Although this parameter does not affect the calculation MoneyManagement, but this is to adjust your risk management. This parameter will tell the EA to stop to take a position if EA had suffered losses at the value of this parameter. Yet EA will continue to maintain any position that is still open.
Thursday, November 11, 2010
Risk Warning
Please note that Trading in the Foreign Exchange market might carry potential rewards, but also potential risks. You must be aware of the risks and are willing to accept them in order to trade in the foreign exchange market. Don't trade with money you can't afford to lose.
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