Have modified how mco will operate .
Now it has daily target which is how much to get in a day. When the target is reached, the robot would stop by not doing anything anymore. It will however delete any POs if they are around. An alert will appear saying that target had been reached for the day. Also a thick white line noting the end of trading for the day.
Now there is no need to decide either to Buy or Sell for the first trade as it will look if the candle close above or below emas100. It will be activated only once.
So starting of the day, decide what the target is then this will decide what the 1 lot will be.
Then let trade ride.
It will draw a light blue dashed line at the start of Trade and POs
In the future maybe a time sensitive when to trade and not to trade will be smart move this is to avoid what happened last Friday in the last minute of trading day. So much trades met losses and it'll open pending orders both Buy and Sell. This is of course anomaly at the end of the week.
Before we close this is the nature of Paroli (as far as I know) at the moment
Its like trade bigly with a risk but if you loose you dont loose anything (yes this is true) except if you were hit after the first win where you loose 1 lot equivalent. As 1-2 = -1.
Just to remind you, in the P system losing the 1st and 2nd trial will both bring you -1 lot loss. After that its 0 losses as the gain minuses the losses.
But say if you loose in the 3rd, 4th or 5th you will return to 0 (if you dont mind the small losses in terms of spread and commission). So it does not mean that if loose 12 times in a day that is equivalent to 10% of your balance losses for the day. The fact is if you loose 12 times on the1st and 2nd trade only. BTW thats a lot of trades that going to loose that way.
And at the current Sequence i.e. 1,2,3,6 you only give 12 trials to win.
What if you square off right after you reach the 3rd trial ? It may not be very big but at least you won for the 2 previous losses ? Not bad as you gain *60 which can make up to 6 losses or 6 trials. Meaning that if a sequence started to go to the 2nd trade and loss, its still as 1 losses. No matter if it loose in the 1st trial as one loss too.
So you need to make an equivalent 3 attempt wins as equal to 4 attempt wins. 2 x 60 = 120
What if you let it continue to 5th one that will be a satisfactory 240 !! BTW this is based on 10 and not 15 pips, right from the "*" above. 👦👦👦.
I would suggest you have a choice to make the rounds for 3, 4 or 5 attempts. Quite simple in making Buy/Sell with killswitch with different Paroli sequence.
The beauty is if you have got 4 consecutive wins you hit your target for the day. However the robot will still run to let you reach your target. It would definitely stop in mid cycle if your target is reached
which will 1 trade, 2 trade or 6 trades for the 3rd.
Thing is we can let the trade stop completely without it bother to gain the little losses. Just to tweak on the robotics in future adjustment.
So lets see how mcos performed for the week.
