New FTMO Box Trading Strategy (Free mql5 Programming Tutorial)
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- Опубліковано 18 вер 2024
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Learn about the benefits of automated trading. After programming trading strategies for a while I started teaching how to program expert advisors for the MT4 (MetaTrader 4) and MT5 (MetaTrader 5). Until now I only did videos in German but now I will start this channel with English videos to reach a larger audience of traders and help them improve their trading. There will be no fake trading on this channel and no lies. I show trading as it is - the good and the bad sides. Stay tuned and subscribe because you don't want to miss ;)
Instagram: / rene_balke
Trading in derivative products such as futures, options, CFDs, Forex and certificates involves a considerable risk. These products are not suitable for every investor. Investors could potentially lose all or more of the original investment. If anything, only money that equals personal risk capital and can be lost without jeopardizing financial security or lifestyle should be used. Partially or fully automated trading programs can only be used to support the trader. Past performance is not an indication of future results.
You are one of the Best and honest forex youtube channels outhere. I've learned a lot from your videos. Thank you so much.
actually lots size equals risk money divide by risk per lot. Because your example account amount is big enough so the risk money is bigger than the lot money so your calculation is right. For smaller account like 1000$, the equation has to be "risk money" divide by "risk per lot". We can make a simple chart to illustrate this:
1 lot = A $
? lot = risk $
? lot = (risk $) * (1 lot) / (A $)
😄
I agree - line 64 should read "double lots = riskMoney / riskPerLot;" otherwise a risk % of 0.5 will blow your account. To make it safe you need a risk% of 10 which is illogical.
Hi Rene ,am uche from Nigeria, I have really learnt a lot from you but am having difficulty developing my own E.A
1. my adx indicator, not to frade once per bar but to trade a direction once
2. To use the sma High and sma low as my stoploss point level
3. To use sma_10 open as my breakeven stop
I will be glad to hear from you Rene, just help a brother please.
I think the box trading can be taken in some interesting directions an example. 1-what would the results be if we assume the first break of range is taking out stoplosses and when that happens we place a stop order at the other end of the range.Very cool video thanks for the content!
Thanks Rene! I like the idea that you do *NOT* explain all the basics again and again... that is too much redundancy IMHO. :-) THX
Perhaps the average daily range(10days) could be used as a filter for the maximum box width.
The average daily range/4 to get a target of at least 3 to 1 risk to reward. /5 for 4:1 /6 for 5:1 R2R etc.
What good ideas you have Rene!
this one was hard to understand, is there any other videos that you explain more about classes ?
and thank you again🙏🙏🙏🙏
One thing you can do to make it more safe is to stop trading automatically when the equity exceeds the goal for a particular prop firm. In the ftmo case, stop everything when the overall profit is 10%. As well as stop when equity comes near the daily drawdown.
😅 my eyes were wide open Sunday to see when this video would come thank you Rene
Please share the source code in the comment 🙏
Follow the video from scratch to learn MQL5........😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
I feel like I'm watching Arnold making trading videos ...
inside bar is the sideway market
Hi! Could you please create inside bar breakout strategy?
Hey, maybe in the future. But there are sooo many requests. That is why I always recommend to learn mql5 programming. Have a look at my course: en.bmtrading.de/mt5-masterclass/
Hi Rene. Do you have this breakout range strategy but using a time frame like 00:00-03:00 instead of the ATR?
I could code it but I do not have it right now. If you want to learn how to code have a look at this: en.bmtrading.de/mt5-masterclass/
@44:30 what do you mean by "clean this code up"?
This strategy can be used in live trading account?
Lol, is it only me that add
input double Lots =###;
input double StopLoss=###;
input double TakeProfit=###;
input int TrailingStop=###;
Don't know.... At the institute we never leave those out, A stop is the most important part of trading
dude... martingale has no stops.... it is risk on...
Hi Rene, I made an algo but it isn't taking trades and not trailing the stop loss too. please help me out
the ea is not trading on demo
@renebalke I watch this video over and over but I am not getting the end source right. I keep on getting this error
"possible loss of data due to type conversion from 'datetime' to 'double' "
and I don't know where my error is in the code, I tried proof it several times. Can you please help me?
this usually means that you declared a double variable but it should be a datetime
can you send the code here in the comment?
hello sir , I have suggestions why not write a program who will work only on the person who sign up for my broker affiliate link, the program will check if the account is create using my affiliate link and it will allowed the account to use the program who can be an indicator or EA , second sugesstion for this EA why not add daily target the EA will stop trading after reaching daily loss target or profit target after some number of trade; the program will check the daily start balance and it will able to know after two or three trade the loss or profit
I can help you if you need a licence system for person who sign up for your broker affiliate link
@@ASCT yes i need it help me
@@ASCT give me your whatsapp or telegram
I find this one very strange, that you gave us a Prop-Firm challenge EA, & yet it has mistakes. It works and I rate this not a legal one to me though, You're slipping. Starting to look, like the other YT coders that doing it for views and Sponsors
Hi Rene
I just need a code to describe a Fair value gap
@@54Trades do you have one for the rest of the concept working 🤔🤔
Don't really know a lot about it. What is this smart money concept? Does it have a clear rule set or is it based on human interpretation?
@Smart Money Concepts (SMC) are trading concepts to operate the market by demand and supply. They have a very precise analysis of the chart through orderblocks, fair value gaps and structure breaks. It is a very useful system for trading funded accounts like FTMO with R:R of 1:2 or 1:3 or more. It has nothing to do with resistance and trendline analysis that becomes subjective.
it would be great to see you create an expert advisor with these concepts
Hey, Rene I need your help on writing a code snippet to calculate the cumulative value of x consecutive losses. I am trying to edit one of your codes like I want but I am stuck there. Help ...
if (balance>highest_balance) highest_balance = balance;
double cumulative_loss = highest_balance - balance;
Cumulative_lose +=loss;
SIR PLEASE MT5 CHATGPT CUSTOM INDICATOR ,I FACE SOME PROBLEM ERROR .
source code plz
Watch the video bro ;)
hi rene. i follow the code and i have a problem with the lots,.. if i put lot stable like 1, that works, but with your code never buy or sell. idk what happend here jaja
Did you activate auto trading? Also have a look at the journal and the experts journal. Maybe you will find some (error) messages..
Thank you for sharing this, but the results are way not encouraging for the strategy.
Improve the EA, urself.....or pay me to do it for you
Can you show me how Can i convert this ex5 code to ex4,plz
Pay me I can do it for you
Machst du solche Videos auch auf Deutsch?
Der Kanal heißt BM Trading. Da findest du viele Programmiervideos ;)
Sind leider nicht alle Video die du auf englisch hast dein 😝
Mal ne andere Frage was würde es kosten wenn du ein EA für einen nach seiner Strategie programmierst ?
@@danidvorne2770 Den service biete ich aktuell gar nicht an.
Schade
Aber mit wieviel Geld für ein EA müsse man rechnen
@@danidvorne2770 Das kommt drauf an. Wenn Du über mql5 einen günstigen Programmierer suchst, dann ab 50 Euro. Wenn Du einen etwas komplexeren EA von einem deutschsprachigen Programmierer erstellen lassen möchtest, dann kannst Du mit 500€ aufwärts rechnen.
WHAT YOU ARE LOOKING FOR IS CALLED LIQUIDITY SWEEP