Hey there, fellow traders!
Today, I want to share my strategy using the Rijfie Pyramid version 1.12 with MetaTrader 4. If you're looking to fine-tune your trading game, you might find my approach helpful. Here’s the plan:
- Stock Selection: Start by searching for U.S. stocks priced under €20 or $20.
- Initial Purchase: Once the price rises above the stochastic low level, buy your first lot (0.01).
- Adding More: If the price dips, snag another lot (0.01).
- Trailing Stop: When the price climbs above your buy price plus the spread, that’s when your trailing stop kicks in.
Regarding the stochastic indicators, when it crosses the level of 10, it’s time to buy a lot. Keep in mind:
- Max Price: No lots will be purchased above this price (max = price + spread).
- Low Price: No buys below the established low.
- Magic Number: Remember to change this for every new chart you analyze.
- Time Settings: Specify the hour and minute for your trades.
For your profit settings, if you set it to 0, all open profitable orders will be closed at the specified closing time if Close All is set to true. Here’s how it works:
- For instance, if Close All is true, profit is set to 10, hour is 20:00, and minute is 55, then all open orders with a profit greater than 10 will close between 20:55 and 21:00.
It's smart to look for stocks with low swap rates, such as Zynga, Nokia, and Vale. And here's a tip: setting your low price to 1 allows you to estimate your potential maximum loss. For example:
- With a max loss of 1% on a stock priced at €5, you risk about €500.
- For a stock priced at €15, your max loss would be around €1,500.
Keep in mind, you only risk this if the company goes belly up. If you decide to close all trades while in the red, you're going to take a hit. You could also face losses if your broker no longer supports the stock.
This is the latest version I like to use: Rijfie Pyramid version 1.12.mq4. Just a quick reminder—when using this EA, consider closing all open orders above 0 just before market close to avoid gaps the next day. With version 1.10, you can close profitable trades before the market closes by setting Close All to true along with your desired hour and minute.
In the new version 1.12, you can adjust the percentage by setting Steplevel1. For instance, setting it at 1 means 1% and at 5 means 5%.
At the end of the day, you'll notice some losses, but that's just part of the testing process.
Happy trading, and may your charts always be green!
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