Everyone and anyone,
I’m just trying to clarify the settings when I upload an EA into MT4.
If I want to use Fixed Amount Risk in Dollars;
Do I need to have “UseMoneyManagement” set to true AND “RiskInPercent” set to Zero AND “UseFixedMoney” set to say $40 – As per Image below.
I find this confusing as both Fixed Amount and Risk Fixed % of account have the common settings that come under “UseMoneyManagement”.
Clarification of settings for the three groups of settings 1)Fixed lots, 2)Fixed amount and 3)Fixed Risk % would be appreciated.
Attachments:You must be logged in to view attached files.
UseFixedMoney is not dependent on UseMoneyManagement
- Fixed lots mean a single value always for example 0.1
- Fixed amount means you are limit bet size expressed in money (some people are not comfortable with % risk)
- Fixed % is the aggressive allows full potential of compounding
Though perhaps my question has been misunderstood.
i understand that part, what I’m trying to get at is on MT4 settings.
For a bot to use fixed risk of say $40, could I see a screen shot of the MT4 EA inputs screen.
for a bot to use fixed % of say 2%, could I see a screenshot of the MT4 EA inputs screen.
and one also for a fixed lot size, say 0.5.
im confused with how to set the settings.
you want to trade fixed lots – UseMoneyManagement – false, UseFixedMoney – false, Lots – XXX
you want to trade fixed money – UseMoneyManagement – true, UseFixedMoney – true, RiskInMoney – XXX
you want to trade fixed% – UseMoneyManagement – true, UseFixedMoney – false, RiskInPercent – XXX
thats it :)
You want to be a profitable algotrader? We started using StrateQuant software in early 2016. For now we have a very big knowhow for building EAs for every possible types of markets. We share this knowhow, apps, tools and also all final strategies with real traders. If you want to join us, fill in the FORM. 1500+ final SQX strategies for members running on demo accounts to verify the edge DEMO ACCS. We provide also strategies for indices - DAX, DOW JONES, NASDAQ, SP, UK, because we have realtick data from our brokers.
You must be logged in to reply to this topic.