Matt’s FOREX Expert Advisor Blog

Sorry for the delay but MyFutureBAT version 1.0 has been added to the download section. I will be restructuring the first post to preserve its original state and adding the typical items that define my EAs individual threads like settings, revision notes, videos, etc.

This release comes with money management functionality and should be tested carefully to make sure it works properly. I’ve tested it myself and it seems to work exactly as it should but I still think it needs other sets of eyes looking at it. Basically each order looks at a “RiskPercent” of the free margin divided by the number of pips in the stop loss.

Example:

((AccountFreeMargin * RiskPercent) / StopLossAmount)

Lets just say that account free margin is $10,000, risk is 3% and stop loss pips is 206. This would be the result:

$10,000 x 0.03 = $300
$300 / 206 = 1.46

Lot size would be 1.46.

Now doing things this way means that when the stop loss is small then lot size will be larger and vice versa. This is because the stop loss changes with each new trade. I should also mention that initial testing with the same setup on the GBP/JPY resulted this way:

36 orders
$4,269.62 profit
5,355 pips

Total ending balance of $14,269.62.

At some points there was actually positive pips and a negative profit due to lot sizes changing. So ultimately, I think this has been a good run whether you use the money management of not being that there was a total 5,355 pips bagged in roughly 4 months.

I’ve compiled the EA with the default settings I used to produce the results above using 4 hour charts and JYP pairs.

Matt
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