Second profitable bot!

Howdy Trader! 👋🏾

Another week, another free trading bot!

Something good is cooking this year! Looks like Kismet is on our side! Another bot that made money on backtest! 💵💵. Let’s dive right in!

via GIPHY

This bot also challenged me to use a different approach to risk management. Previously I would let you choose the number of pips for the stoploass and the take profit you wanted to use. For this bot, we are using the current account balance and the lot size you choose to determine the number of pips to set the stop loss and take profit. Let’s do some math, shall we?

Let’s say your balance is $10,000 and the price on the EURUSD chart is 1.0801, and you want to risk 1% on every trade, that would mean every trade you would be risking $100.

For the standard lot, 1 pip typically equals $10. So the price would need to move 10 pips.

In a Mini Lot (0.1 lot): 1 pip equals $1. Therefore the price would need to move 100pips.

For the Micro lot, 1 pip equals $0.01 , the price would need to move 1000 pips.

For the Nano lot, 1 pip equals $0.01, price would need to move 10,000 pips.

The strategy works as follows:👇🏽

For the Buy setup the MACD crosses above the signal line while both lines are below the zero level we ensure ADX is above or around 40.

For the sell, we ensure the MACD crossed below the signal line and both are above zero and ensure ADX is above 40.

That’s all for this week!

Before you go, please help me answer the poll below 👇🏽.