Unlocking 10 Pips a Day: A Simple Strategy with EA for MetaTrader 5

Author of the idea — slacktrader, author of the mq5 code — barabashkakvn.

Imagine snagging 10 pips a day by trading against yesterday's trend. Sounds enticing, right? Let’s dive into how this can be achieved!

The author of this Expert Advisor (EA) poses an intriguing question: Is it really possible to consistently pull in 10 pips daily? As a beginner, I can tell you, it’s no walk in the park to secure those pips during live trading.

In my quest to hit that daily 10-pip target, I explored various strategies and ended up creating a “once a day” trading system. Here’s how it works: I open just one position each day, right at the start. First, I trade with the trend, then against it, using stop orders, specific stop-loss (SL), and take-profit (TP) levels, and so on.

Ultimately, I settled on this Expert Advisor that takes one position a day, countering the trend at a specific hour. So, what does 'trend' mean in this context? It refers to the price changes over a defined range of bars. After some straightforward optimization, I was thrilled to see a promising performance curve.

This curve boasted a winning trade ratio of 6:1, along with 26 wins and 2 maximum consecutive losing trades. I even incorporated a martingale approach to enhance the money management system, leading to an attractive performance curve. Over the last seven years, the EA has yielded solid results, particularly when employing a minimum risk strategy.

Main Features:

- **Currency Pair:** EURUSD
- **Timeframe:** Automatically selected (customizable)
- **Position Opening Time:** 07:00 CET (Central European Time, +1 GMT)
- **Maximum Position Lifetime:** 75600 seconds (21 hours)
- **Trend Check Duration:** 30 hours

You can tweak and optimize these settings to achieve different outcomes:

• FIXLOT: If set to 0, the maximum risk variable will dictate lot size; otherwise, use the specified lot value.
• MINLOTS: Minimum lot size.
• MAXLOTS: Maximum lot size.
• MAXIMUMRISK: Maximum risk, particularly if FIXLOT is set to 0. It’s advisable to use FIXLOT = 0 with MAXIMUMRISK around 0.05 (or 0.02).
• SLIPPAGE: Maximum allowable slippage.

Additionally, you’ll find:

• TRADINGHOUR: The time to open positions.
• HOURSTOCHECKTREND: Number of hours to analyze price differences for trend identification.
• ORDERMAXAGE: Maximum lifetime for positions; older trades will close automatically.

The EA also features a martingale element: if a position incurs a loss, the next position’s lot size will increase.

Here’s how the multipliers work:

• FIRSTMULTIPLICATOR: Lot size multiplier for one losing position.
• SECONDMULTIPLICATOR: Lot size multiplier for two losing positions.
• THIRDMULTIPLICATOR: Lot size multiplier for three losing positions.
• FOURTHMULTIPLICATOR: Lot size multiplier for four losing positions.
• FIFTHMULTIPLICATOR: Lot size multiplier for five losing positions.

STOPLOSS
TRAILINGSTOP
TAKEPROFIT

What could justify trading in this manner? Is it merely an over-optimized historical result with little chance for future success, or does this strategy hold a solid foundation?