GOLD Edge & GOLD Edge PRO FAQ – Trading Systems – 4 May 2024


GOLD Edge & GOLD Edge PRO FAQ

Q2: In the past, the EA was functioning properly, but over the last few days, it has not executed any trades. Why?

Q3: Not Trading or Only Taking One-Sided Trades: Why?

Q4: How should I adjust the settings if the decimal places are 3 digits?

Q5: How can I address the following error messages?
     “Error: TrailStop Parameter is too small.”, “Error: DD TrailStop Parameter is too small.”

Q6: When I change the (GRID) lot multiplier to ‘1.3,’ why does it seem to have no effect? The lot size for all the GRID remains at 0.01. Why?Q7: Can “GOLD” Edge be used with a real account?

Q7: Can “GOLD” Edge be used with a real account?

Q8: What methods can be used to reduce risk?

Q9: Is there a setfile? / I want to know the parameters.

Q10: Is a Stop Loss not set? / Why is it mentioned that Stop Loss is available but “not recommended”?

Q11: If the trade is moving negatively and there’s no Stop Loss set, should I manually close it?

Q1: What is the difference between GOLD Edge and GOLD Edge PRO?

A:

Here are the features of GOLD Edge PRO

  1. News Filter:
    The PRO version includes a news filter. During important news announcements, it is recommended to pause trading because unexpected price movements can occur. With the news filter, you can manage this effectively.
  2. Daily Profit Stop:
    You can set a daily profit target. Once the target is reached, trading for that day stops. This feature is useful when you want to achieve the minimum necessary profit while reducing risk. For example, if you enter “10,” trading will stop when a profit of $10 is reached (the unit is in your account currency).
  3. Spread Filter:
    If the spread exceeds a set value, trading can be stopped. This helps prevent losses when the spread is large.
  4. Non-Trading Days:
    You can designate specific days as non-trading days. This allows you to avoid trading on days with higher risk, such as month-end or month-beginning days. Additionally, if there are open trades remaining on the specified non-trading days, you can choose to close all of them.
  5. Auto Set Distance:
    In GOLD Edge, the “Distance” parameter sets the grid interval. Different currency pairs may require different “Distance” values. GOLD Edge PRO automatically calculates the grid interval, making it suitable for various currency pairs.
  6. Time to Trade (Additional Option):
    In GOLD Edge, you can set trading hours. In the PRO version, if the specified trading hours are exceeded, all open trades at that time can be closed.
  7. Day of the Week to Trade (Additional Option):
    GOLD Edge allows you to specify certain weekdays for trading. In the PRO version, if it’s a designated non-trading day, all open trades at that time can be closed.
  8. Use Candle Filter (Filter ON/OFF):
    The candlestick filter can be disabled. In GOLD Edge, during grid trading, the decision to trade is based not only on the “Distance” interval but also on the candlestick filter for recovery direction. In the PRO version, you can disable this filter (it’s enabled by default). When disabled, grid trading occurs unconditionally when the set distance is reached.
  9. Use Panel(Panel ON/OFF):
    You can toggle the display/hide settings for the panel. Additionally, there are manual buttons on the panel that allow you to change settings. Use these buttons to show or hide the panel as needed.

Q2: In the past, the EA was functioning properly, but over the last few days, it has not executed any trades. Why?

A:

“RSI Filter” for D1 and H1 timeframes is set to “true” by default.
If the RSI exceeds this range and is greater than the “max” value, no Buy trades are executed.
Conversely, if the RSI falls below the “min” value, no Sell trades are executed.
For instance, during an uptrend, if the “RSI” surpasses the “Max” threshold, it won’t trigger a trade even though the trend is upward.
If you set the “RSI Filter” to False or widen the range between “Min” and “Max,” the number of trades will increase, but be aware that the risk will also rise.
Keep in mind that unexpected sharp trend reversals can occur if the RSI goes beyond its bounds.

Q3: Not Trading or Only Taking One-Sided Trades: Why?

A:

The following situations may persist for several days, but the EA (Expert Advisor) is functioning correctly:

Not Trading Scenario:

If the RSI (Relative Strength Index) is above 60 (indicating an uptrend), the EA will refrain from executing trades.

Similarly, if the RSI is below 40 (indicating a downtrend), the EA will also avoid trading.

However, if the EA is not trading at all, please check whether its status is set to “Run.” If the status is not “Run,” there may be configuration issues.

One-Sided Trading Scenario:

If the daily (D1) trend is a downtrend or if the RSI is above 60, the EA will not initiate buy trades.

Conversely, if the D1 trend is an uptrend or if the RSI is below 40, the EA will skip sell trades.

Q4: How should I adjust the settings if the decimal places are 3 digits?

A

For this EA, the default price display for XAUUSD is based on 2 decimal places (e.g., “2804.31”). However, if the price display has 3 decimal places (e.g., “2804.317”), you’ll need to adjust the following settings by increasing the values from 250 to 2500 (i.e., adding one digit):

  • Take Profit (point): default = 250 → 2500
  • Take Profit (DD Reduce / point): default = 250 → 2500
  • Slippage (point): default = 20 → 200
  • Max Spread (Point): default = 50 → 500
  • TrailStart pips (point): default = 100 → 1000
  • TrailStop pips (point): default = 30 → 300
  • TrailStart pips (DD Reduce / point): default = 60 → 600
  • TrailStop pips (DD Reduce / point): default = 30 → 300
  • Distance (point): default = 300 → 3000″

Q5: How can I address the following error messages?
     “Error: TrailStop Parameter is too small.”, “Error: DD TrailStop Parameter is too small.”

A:

If you encounter these errors, it means that the “TrailStop” parameter is set too low. To resolve this, follow these steps:

  1. Check with your broker to determine the appropriate value for the “StopLevel.” This value should be larger than the minimum value displayed as “MIN.”
  2. Adjust the “TrailStop” parameter to a slightly larger value than the minimum (MIN) setting.

   Make sure to set the following parameters accordingly:

  • TrailStop pips (point)
  • TrailStop pips (DD Reduce / point)

Q6: When I change the (GRID) lot multiplier to ‘1.3,’ why does it seem to have no effect? The lot size for all the GRID remains at 0.01. Why?

A:

If the initial lot size is 0.01, it remains unchanged after applying the multiplier of 1.3. The result of 0.01 × 1.3 is 0.013,
which gets rounded down to 0.01 due to the minimum lot size constraint.

Q7: Can “GOLD” Edge be used with a real account?

A:

Yes, GOLD Edge can be used with a real account. There are no trading restrictions.

Q8: What methods can be used to reduce risk?

A:

Below, I’ve provided several tips for reducing risk. Note that items 4, 5, 6, 7, and 8 are available only in the PRO version. Keep in mind that reducing risk may also lead to decreased profits due to fewer trades. With that understanding, let’s explore the following strategies:

  1. RSI Settings: Use RSI Filter

    • Set the RSI (Relative Strength Index) on the daily (D1) chart to MAX 50 and MIN 50.
    • Adjust the RSI values on the hourly (H1) and current timeframes by increasing the minimum (Min) and decreasing the maximum (Max) to reduce risk.

  2. Trade During Specific Times: Time to Trade

    • Certain times, such as New York trading hours, carry higher risk.
    • Configure your trading schedule to avoid these riskier times.

  3. Day of the Week to Trade

    • Weekend trading can be riskier. Consider disabling trading on specific days, such as the first Friday of the month.

  4. News Filter: News Settings (PRO only)

    • Major economic indicators can cause significant price fluctuations, increasing risk.
    • Adjust the time around news releases to mitigate risk.

  5. Non-Trade Days: Non-Trade_Day Settings (PRO only)

    • Risk tends to be higher at the end or beginning of the month.
    • Specify non-trading days (dates you know in advance) to reduce risk.

  6. Close Open Positions Based on Time and Day Settings (PRO only)

    • When applying filters related to news, weekdays, specific dates, or times, consider closing open positions temporarily.
    • Although this may result in short-term losses, it can help avoid subsequent risks due to market fluctuations.

  7. Spread Filter (PRO only)

    • Avoid trading during periods of high spread (the difference between bid and ask prices).
    • High spreads often coincide with abnormal price movements.

  8. Daily Profit Stop (PRO Only)

    • Use the “daily Profit Stop” feature to limit trading once a certain profit level is reached.
    • This upcoming feature (expected in version 4.0) allows you to restrict risky trades.

  9. Minimum Free Margin Setting

    • Set the minimum free margin to around 50%.
    • This can prevent excessive drawdown even if losses occur.

  10. Lot Multiplier for Large Deposits

    • Instead of increasing the initial lot size for larger deposits, consider using a higher “Lot Multiplier.”
    • This approach accelerates recovery from drawdowns and reduces risk.

Remember to adapt these strategies to your specific trading style and risk tolerance.

Q9:  Is there a setfile? / I want to know the parameters.

A:

You can download the setfile from the guide provided in the link below. Additionally, the guide contains explanations for the parameters. Please note that only the setfiles mentioned in the guide are available. We do not customize individual settings for customers.

GOLD Edge PRO GUIDE:  

GOLD Edge GUIDE: 

Q10: Is a Stop Loss not set? / Why is it mentioned that Stop Loss is available but “not recommended”?

A:

That’s because this EA (Expert Advisor) operates on a grid trading system. Grid trading involves buying and selling at regular intervals in response to market fluctuations. When the most recent trade, combined with older trades, results in an overall profit, the system triggers a closure. With this strategy, it’s possible to make a profit regardless of the market’s direction. Therefore, a Stop Loss is not set. Stop Loss is a means to limit losses, but in grid trading, profits are derived from leveraging market movements, so it’s not always necessary. However, if the market moves significantly in one direction, there’s a temporary risk of increased losses. It’s essential to understand this risk and configure deposit and initial lot settings accordingly.

Q11: If the trade is moving negatively and there’s no Stop Loss set, should I manually close it?

A:

For this EA, which employs grid trading, avoid manually closing trades. Eventually, it will either turn positive and automatically close or continue grid trading until an overall profit is achieved, triggering an automatic closure. Since this EA is designed for automated closures, refrain from manually closing trades without a specific reason.

If you have any questions, please PM me.
Please ask the question in PM, not a comment & review


منبع: https://www.mql5.com/en/blogs/post/757388

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