MQL5 TUTORIAL – Christmas Edition Part 13

 

Trade the system yourself with Metaquotes demo accounts: https://swiy.co/RobotTrading

 

Okay, today is December 30th. So Christmas is over and we are now at a profit of about twelve euros. This means that trading picked up again a bit after Christmas. We have a few more positions here and if you are wondering why the different sums are appearing here, it is because I have selected the one-hour chart here and I have also set up my system so that it only checks once an hour to see if we have an entry or exit signal. This can sometimes lead to such irregularly high profits. The reason for this is that if I were to run my system on a minute-by-minute or price-change basis, it would require significantly more computing power. In principle, this is justifiable.

 

However, I have not noticed any improvement. That’s why I’m leaving it at the hour. You can see here, when you move the mouse over it, that a position was opened and a position was closed at a profit of €3.90. This is the last position. If we zoom in a little closer, we can see that there is a second position and that the two are connected by this dashed line. This means that both positions were opened at different times but closed at the same time. One of the main problems is that beginners now do the math and say, “Man, I made a profit of €12 in x days. Then I extrapolate that one-to-one and that means I earn so-and-so much.” Unfortunately, this is not realistic in practice, because there are always phases where we experience drawdowns and these can last for days, weeks or even months.

 

And that is why most traders lose their nerve after a while, because they see their account melting away in their mind’s eye and have the very strong feeling that the risk is much higher than the profit expectation and that the trading risk cannot be justified. And it is to be expected that a lot will change in the United States at the beginning of January and here in Germany in February. And such changes can usually be seen quite quickly on the chart. The question is whether they will work for or against us, but we’ll see. In one of the next videos, I also have to set up advanced statistics for this system so that you can track online what, when, and how it happened. For now, I’m satisfied with the result, the system is running, and I’ll see you in the next video.