USER MANUAL for “Midnight Shark”. – My Trading – 16 January 2022

“4you Trading Robots”

User’s Guide for “Midnight Shark”.

Contents

1. How to buy an EA

2. How to attach the expert advisor to the chart.

3. Parameters

4. Requirements

5. Trading strategy and my experience.

1. How to buy an EA

There is already a guide to buying MQL5 EAs, I suggest reading it if there are any questions about it.

2. How to attach the expert advisor to the chart.

2.1. Simply drag and drop the file to the graph and create a smiley face.

2.2. Choose your lot sizing method.

2.3 The EA must be attached to the EURUSD M5 time frame charts.

3. Parameters

  • short name – The name will be needed if you use many different settings for different accounts. The acronym can help you quickly identify the specific group. For example – Midnight Shark Best pairs;
  • TF Trading (mandatory 5 minutes) Trading time frame. The EA is optimized for M5, in this case it is better to use a 5 minute time frame;
  • HideTestInfo Dashboard spends a large amount of resources recalculating and redrawing information. You can hide the dashboard and this will improve the speed of the test.
  • = Time Settings =============================
  • GMT offset method – Choose the GMT Offset method. Auto GMT Offset works only in live trading. In test mode, GMT Offset method will always be in manual GMT offset mode.
  • ManualGMTOffset – Greenwich Mean Time difference between monitoring the broker market (the station) and the current Greenwich Mean Time.
  • ShowDetailTradingTime – Allow to see the start and end time of trading in broker time (station time), GMT time, and local time (computer time);
  • = Limitations ==============================
  • Charm – distinguishes the open positions of trading robots from the open positions of other trading robots;
  • ConTradeDelay Minimum minutes between two consecutive deals in the same direction
  • = Calculate Batch Size =================
  • Lot Sizing Method * – Select the lot sizing method according to the risk you want to take;
  • fixed contract – fixed volume of trade deals;
  • AccountBalanceStep – a specific step for calculating the lot size of the account balance;
  • Deposit load % – A value to set your initial lot size.
  • = Currency pair settings ==============
  • Single chart setup pairs – List of selected pairs for trading.

* Lot sizing method

  1. fixed contract – will always use a fixed contract;
  2. account balance step – The EA uses the minimum lot size for a specific move. Example: If the broker’s minimum lot size is 0.01 and the account balance is 750, then the EA opens 0.03 lots if AccountBalanceStep = 250;
  3. Lots based on Load % Deposit Lot size based on account balance and margin requirements.

* All parameters are optimized and ready to use, just choose the lot sizing method.

4. Requirements

  • Supported currency pairs: EURUSD GBPUSD AUDCAD EURAUD EURCAD GBPAUD GBPCAD EURCHF GBPCHF USDJPY EURJPY USDCAD EURGBP USDCHF CADCHF CHFJPY AUDJPY AUDCHF AUDUSD GBPJPY;
  • Timeframe: M5;
  • The EA is sensitive to spread and slippage. I would recommend a good ECN broker;
  • The EA must run continuously;

5. Trading strategy and my experience.

The EA starts trading from 1 hour before the rollover time, up to 1 hour after the rollover time. This is the time when liquidity is low and price action occurs frequently in a narrow trading channel. In this case, the best strategy is to trade between support/resistance lines (EA uses Bollinger Bands). The minus of this strategy is the large slippage (due to low liquidity) and the broker’s limitations. Brokers are not happy with this strategy and always try to limit profit, some brokers do it legally (changing liquidity providers near rollover time), but some brokers are not very tolerant and can even prohibit profit withdrawal. This is an old strategy and personally I have been using it for over 10 years now and can share my experience. Those difficulties with brokers forced me to quit using this strategy. I am amazed now, is how much money can be demanded for such a poor strategy, as most of today’s most valuable sellers do. Below I will list how to get the most out of this strategy.

5.1 Find the mediator with a low spread (ECN broker is better);

5.2 Read the broker’s Client Agreement for specific trading restrictions;

5.3 Use multiple brokers to diversification;

5.4. Uses Small big size;

5.5 Withdraw Profit frequently (If the broker starts to prohibit the withdrawal of profits, you will not lose much);

5.6 If the broker starts working against you – broker of change. (A dramatic change in score can tell if brokers are working against you. Comparisons with results for other brokers can also help.)

5.7 Use the most liquid pairs with less slipFor example, EURUSD, GBPUSD and EURCHF;

5.8 Demo with real trading can be very different, but the demo is the first chance to look Pairs that will be used in real trade. There you can look at the demo account monitor, use the analysis, find the best pairs: (the direct link to the source cannot be attached, please ask me in a private message).

5.9 Picture this strategy as small regular income, but not as he became a millionaire. I added 20 activations and if you find at least 5 good brokers, the income will be more pleasant.

good luck!

Leave a Comment