Pyramid EA considers two scenarios:. What industries do you specialize in? Can I interfere with the trades of the EA? Can I buy and sell at the same time?
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Can I use pending orders to enter the market? Make sure to enter just one trade in each direction. Can I interfere with the trades of the EA? Let the EA do its job. Will this EA interfere with other EAs running in my account? It will manage trades with a Magic Number of zero, which ar manually placed trades.
Can I set my own take-profit and stop-loss when I enter the market? The EA allows you to enter stop-loss and take-profit expressed as percentage of your balance. At the same time, the advisor makes a deal in the opposite direction. Depending on the version of the trading robot, the indicator can be integrated in the EA, otherwise you will need to copy it manually to the Indicators folder.
The file of the expert advisor should be copied to the Experts folder. Since the original version of the EA has ceased to trade profitably 2 years ago, a number of modifications of the advisor were developed for trading on smaller timeframes m15 — m But the principle of the robot has not changed.
Pyramid EA considers two scenarios:. To allow the advisor to trade, you need to choose the option of EA operation in the BuyorSell field of the settings window. You can also change the interval at which the EA places grid of orders in the settings window. The advisor has an important feature: Back in , the EA has shown outstanding results, but unfortunately, in early , it was already exhausted and the default settings stopped making a profit.
Nevertheless, the existing modifications of the advisor allow to trade profitably today as well. It proves the viability of the idea used in the algorithm of this EA. The Forex pyramid trading strategy is the most lucrative strategy that I have come across thus far in my trading career. The pyramid strategy allows you to do exactly that.
Showing you how to do it is one thing. Showing you an example of how I executed the strategy is another entirely. This will allow you to better understand the concepts and methods once we get to the case study below. The following is a crash course on how to pyramid. As the name implies, pyramiding involves strategically adding to an existing position as a trade begins to move in your favor.
Each buy order you see above is for an equal amount. So if you buy 40, units on the initial buy order, you would buy an additional 40, units on buy orders two and three. In order to limit risk you want to move your stop loss up each time the market breaches another key resistance level. But be sure to read the full lesson if anything mentioned above is unclear. In order for the case study to make sense, we will take a look at each individual level and formation that led to the initial setup.
Notice that we have three well-defined touches off of this support level. Take special note of this trend line as it will play an important role later on. Next up is trend line resistance that is best viewed on the 4 hour time frame.
This level will also become an important factor in the next few charts, so be sure to take note of it. The chart above introduces two new factors. The first being the false break of trend line resistance and the second being the short-term trend line support. Like most false breaks, the one that occurred above resulted in a swing in the opposite direction.
The chart above illustrates the exact setup and key levels I was viewing at the time it unfolded.