What you’ll learn
- The characteristics of an EA for small accounts
- How to use trailing stops in cost averaging trades
- How to manipulate Pending orders
- How to detect market swings to get local highs and lows
One of the most critical questions that I get asked a lot is if it’s possible to conduct algorithmic trading successfully using a very small trading account. This question basically goes against the pillar of success in trading based on the belief that well capitalized traders do better in the market than those that are not so well capitalized. This is mainly because better capitalized traders can withstand losses and drawdowns better without losing the ability to trade in the future. So I also asked myself if it’s possible to develop an algorithmic trading strategy that can grow a very small trading account and use cost averaging to reduce the illusion of optimization and perfect market timing. As an algorithmic trader, testing ideas and possibilities is the reason we live. So I decided to test this possibility by developing an algorithmic trading strategy that has the capacity to handle a very small account using cost averaging.
The strengths of this strategy are based on its simple and yet effective entry logic and most importantly, how it manages profitable trades.This strategy was developed and tested on the EURUSD currency pair on the 15M timeframe. The EURUSD was chosen because it is a popular pair for liquidity and cheaper trading costs, and the 15 minute chart strikes a great balance between frequent movement and avoiding too much noise.
If you’re still familiarizing yourself with MQL5, don’t worry. As long as you understand the basics, this course is perfect for you. I’ll patiently guide you through every step, ensuring you grasp the concepts behind each line of code. By the end of this course, you’ll have gained the skills necessary to code similar trading models based on the expert advisor shared in this course.
So, hit the enroll button now and join me on this exciting journey of coding a trading strategy that can trade a very small trading account using the MQL5 algorithmic trading language!
