Trading Rules (Tabs) – When would you use more than 2 ??
Firstly, my title should have read ‘When would you use more than 4 ‘
I have started using EA Wizard and have a question about the Trading Rules.
One of the tabs/rules would be used to define the GO LONG Signal which could consist of multiple conditions in order to create the necessary trigger.
One of the tabs/rules would be used to define the CLOSE GO LONG TRADE Signal which could consist of multiple conditions in order to create the necessary trigger.
2 other tabs could then be used to define the GO SHORT and CLOSE GO SHORT TRADE Signals.
Consequently, when would you require any other tabs (rules)???
I’m just trying to get an understanding of how others effectively use the wizard for maximum benefit.
Thanks in advance.
there are many situations when to use multiple tabs, you’ll need them specifically for really complicated strategies that have multiple entry rules and open multiple positions at the same time.
I personally also like simpler strategies, my strategies usually have just one rule for entry and one for exit (for each direction).
It all depends on the strategy you make, and how easy it is to define the rules you want to apply.
I frequently use multiple positions and those need more complex management than a single one with more rules to cover everything. The most complex I made has around fourty rules.
Of course ultimatly all that matters is the live potential of your expert. If you can make it in a single rule its great, but its rather rare I think. Even if your entry rule is as simple as a rock, you may find need for improvement on the position management part. For example you analize your results and find out that most of your losses occurs on Friday. So you can make an additional rule not to trade on those days.
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