Learn How To Partially Close Out Trades | Zoom Call 31 May '21

Hello everybody. Welcome, welcome, welcome to my zoom call. So we're going to help you all get out of trouble. Some of you have over leveraged, some of you are trading too many pairs and the EA has gotten away with you and your accounts don't look so good and your drawdown is quite huge and we need to fix that for you. So let me help you and show you how to close out traffic trades.

Partial trades, so you can use the profit from the gold EA to start closing out trades of your, of your other ea. Okay, so let me show you what I do. Let me call up my account. Okay, so firstly, what I've done is, let me just admit some people. Okay, firstly, what I've done is I've set up my chart so that I can read my chart so that I know when a pay is reversing and when, when I should be closing out trades in a loss or in a profit. Okay, so let me look at this account here and see what's happening. Right, so we've got NZD here. So let's check out the NZD USD chart.

So let's check it out. Okay, so you can see where is her.

Okay, so we're going to close out these trades in NZD USD in a profit. Why are we going to do that? Okay, now we're going to do that because you can see, if you went through my, my course, you would know that.

The second candle has opened above the 8 exponential moving average, which means that the pair is now in a northerly direction.

So what you can do is you can close out the trades that are in profit, these three trades, you can close them in a profit. Now generally I would leave the robot on so that when the pay reverses, when the second candle opens below the 8 exponential moving average, if the EA was connected, a new trade would start. Okay. And you could begin a new sequence or continue with the sequence. But because she's probably got too many pairs loaded.

She probably ran into a problem with having.

Reaching her 200 trade limit. So let's just check what's going on your account. So this is a fantastic indicator. It's called I exposure. It tells you what trades, what currencies, what's happening with each currency. So how many deals are open with each currency. So I'm not quite sure why on this account there's a big gap between here and here. And I can see that you've used a lot exponent, which I don't recommend at all for novice traders. That is not a good idea. Okay, so what we're going to do is we're going to go back to the account and we're going to close these trades out. So on a phone, okay, you would swap from right to left on the number to get the drop down menu. Okay. Now can. Can someone unmute themselves? So whose account is this? This is Shirin's. So let's unmute Shireen.

Wait, Shirin, let me unmute Shireen.

Okay.

Okay. Shireen, are you unmuted?

Shireen, can you hear me?

Shireen.

Can you guys hear me?

Yeah.

Okay, cool. Who's that? Mark?

Yeah.

Okay. How's it, how are you?

I'm good, and you?

Okay. So can you see what I'm doing? So I need you to guide me. Can you see what I'm doing? So you swap from right to left to get the drop down menu. This menu will only be here if you have loaded MT4 on your phone with your trader password. You get two passwords, you get an investor password and you get a trader password. The investor password is a non trading password. So that's it. You can share your account number, your. Your FPS real server number and your investor password. Okay. With potential people. I don't like doing that. I prefer giving FX blue links. Okay. That way they can log into your account and they can see what's happening. I don't like doing it that way. Okay. I prefer to have the trader password on my phone so that when I'm away from my PC I can do stuff. Okay. So I need to find Shireen and ask her if I can. If I can close our trades here. Shirin, can you hear me? Okay, so I need to phone her. So you guys have to wait for me.

I'm just, I'm joining on my phone because my computer doesn't want to do the mic thing.

Can I close out trades on your account?

Yes, I give you permission to do that.

Okay. Thank you. Thank you. Okay, so you all heard that I can close our trades on her account. So what we're going to do is we're going to go back to her account and we're going to. Can you see now why I want to close these trades? Do you understand why I want to close these trades?

Yes, but the thing is that those are the profit trades. So when the entire trade get finished, you're going to be in. In a loss.

You could.

Because those are the ones that make the profit.

Correct. They are the ones that make the profit. And that's why you need to leave the EA on so that if the currency retraces, okay? New trades will open. Right now it's going north, which is in the opposite direction of what we want it to do. We want the currency to go south down here, the take profit. So if I close out these trades in a profit, okay, and it carries on going up, okay, what will happen is. Let me do that again. What will happen is, is that.

I would then close out more trades or new trades will then open. Are you with me?

Okay.

Are you with me? So I want to take advantage of these, of this money here. I don't want the currency to go north and then these figures go to red again. Why would I want to do that? Do you get me?

Would you, would you only do that when the market goes against the direction of our trade?

It's a choice.

Yes, that's what I'm doing.

So it's more manual trading. But I only do it if I've over leveraged. If I haven't over leveraged, then I leave it. I'm not interested in trading and I'm not interested in looking at my account and I'm not interested in looking at charts and reading charts and working this out. Okay? This is only if you've over leveraged and you need to take advantage of, of the blue trades to lower your exposure.

Understood?

Alan, just a question.

Yeah.

Rhiannia. Alan, just a question. If you, if you talked about over leverage, is that when your, your drawdown is, is quite high, is that meaning. Yes, that's over leverage?

Yes. So over here you can see on 60%. So we need to fix that urgently.

Okay, thanks.

Yeah, because she doesn't have cash flow to.

To fund her accounts. Okay, so it's going up a bit, but let's check what. So it is going down and we do have a red candle, but the second candle has opened above the 8 exponential moving average. According to my analysis, when the second candle opens above the 8 exponential moving average, we going north. I close our trades. So it's actually not. It's actually 1, 2. This is the third. She should have closed our trades here. Right here. Okay. She would have been in a much bigger profit. So she's left money on the table. Are you with me? Are you all following me?

Yes.

We're going to close it out. So how are we going to close now? We're going to hit the ticket and it's going to come up with a new, a new thing. Now, if we wanted to close out a partial trade, okay, you change this number here. So let's say we Only wanted to close out.

We only want to close out 0.01, which will mean that what's left is 1.42. So here's your closed profit. You're going to make $1.37.

Okay?

Yes. Right. But if we look at the trade history over here for the day, you've made 2,532 cents.

So we can close out 2,532 cents. That's what we can close out. That's what we have to work with, which will lower your drawdown. Okay, so I'm going to show you. I'm going to close this and I'm going to show you what's going to happen. This number here, 1.42, is going to go to 1.41. So let's do it. Let's close out 0.01 of that. Of this trade. 0.01. Close, close. Right. Let's go back. You can see there.

Where is it?

It's probably at the bottom. What's going on there it is. 1.41.

Okay, so we've closed a partial trade, not the full trade. Are you with me? Yes. Okay, so now what we're going to do, we're just going to close this trade out and then we're going to go and look at the rest of your account and try and see what we can do here. Okay? So unfortunately, this account is in a bit of a state, but we'll fix it. We will fix your account. Okay? So, yeah, thank you very much. We're gonna leave. Okay, so here's another one. Gj. So let's go to gj. Right, so now we're in a cell position. What do you think I should do? After what I just said, what do you think I should do? Do I close out trades or do I not close our trades?

Okay, so let's do it differently. Let me, let me. Let's do. Let's open up the text.

Where do I do the chat? I want you to type in the chat box.

What you think I should do. We've got positive trades here. Do I close them in positive or do I leave the trades open? Give me your suggestions. Just put.

Sorry, Alan, for clarification. The three mas.

Yeah.

All of them. The eight.

They all eights. I've got a close and open and.

A low, a high and a close.

Okay, so they.

Below.

Below the close.

Yes. So what do you think? I must. Don't answer. I want you to type it. Leave open. Okay, we have one. Leave open. If you think I should leave it open. Tell me I need to leave it open. Leave open. Okay. Shereen, why. Why are these people saying leave it open?

Because it's going on a downward trend.

Correct. You're. But why? How do you know that you're going in a downward trend?

Because there's more than three count candles that's already going.

Excuse me, down below the 8 exponential moving average.

Yes. Okay, cool. You're correct. Okay. I would leave these trades. Okay. As soon as the second candle opens above the 8 exponential moving average, I would immediately close out some of the trades based on my profit for the day. So I've already up 2,899 cents. So let's go and close some trades that look shitty. Okay, so let's go through the account. Let's go through the trades and let's go see some large lot sizes. We've got ones there. We've got sixes. It's not so bad. Okay, so let's start with the ones. Okay, so here's the one lot. Okay. And you always start with the, the last trade. Okay. The first trade that was opened because that's at the highest. Let's go there. So you can understand. Okay. Okay.

It has the highest drawdown.

It has the highest drawdown. So when, if the currency goes down further, your drawdown will get larger quicker because the price is so far away from the take profit. Are you with me? Okay. Yes. Right, so we've got 2,899. Let's just close it. Close the full amount. 2,200 gone. Okay, so now let's go there. We've got 679 left. What's the drawdown? Didn't go down much. You'll see that in the next couple of days when you do this, it'll start disappearing. It's already gone down from 59. It's gone down 1%.

You keep doing this with your gold EA, you're gonna whittle your drawdown and vanish it away. Okay. Until it's like zero. And then you can restart your robot and you can carry on. So you've got a choice now. Okay. You can make profit for the day or you can eliminate all this profit. 670. I like to make profit every day, so I know it's painful closing out trades. I get it. But the point is, is to save your account. You can lose a little bit of money or you can lose all of your money. So I choose to lose a little bit of money. But I also want to make money at the same time. So I'll close out some of the cuck trades and I'll just.

I'll make six. Six, six, six. Six dollars. That's what I'll make today. Six dollars. So on the account. Let's look at the account. There's thirteen hundred dollars in the account.

Six divided by thirteen hundred is half a percent times one hundred. You might point 46% for the day. Are you happy? So let's, let's. Let's work that out. Let's work it out. 0.5 times 24 trading days in the month is 12%. Okay, so it's 1300 times 12% is $156. You've covered the cost of the robot you've made.

Yes, I know it's not the greatest. I know it's not great, okay? But unfortunately you've run into a snag. I don't trade one lot on a thousand dollars. On a thousand dollars, I would trade probably half. Half a lot. Maximum one. Okay? Now the reason this account got out of hand is because I'll predict it. You didn't change your lot size to 0.01 when you got to a 10% drawdown.

No, I didn't.

Okay. So if you had done that, you wouldn't be in a 58% drawdown. This is why I tell you guys. It's absolutely critical, okay. That when you get to between 8 and 12%. You caught this at 25%. I can see you caught it at 25%. Maybe even 30. When did you catch it?

At 25? 26 actually.

Okay, 26. So that's when you change. We haven't had a conversation about this. Can you confirm that? Yeah, I know what's going on with this account. I can see. How do I know? Because I've been there, guys. I've done this. I've have fucked it up so many times, okay. And lost so much money it would make you sick. I've blown millions on my accounts. When you blow a million rand you get. It's not the same pitting your stomach as when you blow $1300. It's very different. Very different.

So you need to watch when I say. I don't say manage your account. But I say you need to log in once or twice a day. Especially if you've got high draw, high lot sizes and check your drawdown. You're not managing your account. You're just looking at your drawdown and you're waiting. So generally when I set up my ea. Set it up with A hard with the high lot size, okay? Because I know that it's not going to trend in the first like couple of days of me setting up my, my account. So in the first like week I make a lot of money, okay? Then my drawdown goes up and then I reduce my lot sizes and I start like just ticking it over. So I, I've made, in the first week or two, I've made a lot of money, maybe 30, 40% and then.

I start reducing my lot sizes. So 30, 40%. You're not getting that anywhere, nowhere, no other investments are you going to get that? So I don't recommend you do that. I only recommend you do that. If you had a lot of capital, then you could do that. If you have like $1,000, you can't do that strategy because you need to make money on a monthly basis and you won't be able to do that if your lot size is 0.01, okay? And that's where a lot of you are. A lot of you are on the lot size of 0.01. And you're saying I'm not making, I'm not covering the cost of the robot. Those that have high equity, 3,000, 5,000, $6,000, they covering the cost of the robot. But the guys that have like smaller amounts, you can't cover the cost of the robot, okay? And that's why I've added the gold EA to help you to now cover the cost of the robot. And that's where your profit comes from. Your profit today comes from your gold. So I've got the coolest little ea.

I'm going to load it on your. I'm going to load it on your minute. Load it. I'm going to, I'm going to pause the share and I'm just going to load that EA for you quickly. What is your account number here? Your 543012. Just give me one second. Let me just load this little EA for you.

One second. Yes.

Won't take long.

So while I'm doing it, you guys can ask questions and I'll try and answer.

Hello, and I've got a question. When the market closes on a Friday night and opens on a Sunday night, obviously the spreads typically shoot way up.

Would that affect us? Only when you actually open the EA or put it on or instill it onto a new pair because usually it should have a few open trades. I mean, I see something like the New Zealand dollar, the spread actually goes up to about between 15 and 20 pips.

The 1.2 so the reason it goes up is market liquidity, correct? Yeah, yeah. What's your question around that? I don't understand your question.

I mean in my opinion, I'm just asking. So when a trade opens, when the spread is that it is only looking for let's say five pips or something.

That's why I say, that's why I say at $5,000 you should upgrade to a micro account because on micro your spread is fixed.

Yes, okay, I understand that. I did open a micro account.

Okay, but so then you won't have a problem.

Okay, so I need to check that with FPS because I'm sure I've seen the spread especially in on that time it goes up but during the day it's fixed to what to.

Like the New Zealand dollar. It went up to about, I think it was 22 pips.

Okay, you need to contact FPS as far as I understand that it's fixed at three. Yeah, okay, so listen.

Sorry, the gold, the gold one is not fixed. I understand that. I saw the gold one is running.

Yeah, yeah. Okay, so don't trade any of these currencies. Okay. The spread is very high and you're going to run into shit. So okay, so I'm going to load the chart. This is the chart and I'm going to check this out. This is such a cool little EA that, that I had built. So what basically what it does is it works on your comment and it tells you what profit you've made on your EA.

Gold.

I can't use it because you've got auto trading off. So have you switched off your trading on everything?

No, I think the only trading that's.

Open is the gold.

Trading is off the chart. If I looked at it.

Okay, so let's just go and switch it on. So this is going to tell me how much profit that EA has made for the day. Okay. And gold has made $1662. That's what gold is made. Okay so how you switch on your, your comments is you go, you right click over here and you check comments. Okay. And then you can see your comments here and now you can see what's happening. So if I go bf, if I just click on the EA there and I go BF and I click ok.

Then it'll tell me.

Yeah, we're not seeing your screen.

Sorry mate told me. Okay, cool. So I've added this, this ea. It's a comment ea so it basically works on the comment. Okay so.

Here'S the comment over here. How you get to comments is you right click in this area. Okay. And you click comments. This is unchecked. Then you're enable it. You enable it. Okay, cool. So now I can see what, what.

EA made profits but I want to know like how much profit I made without exporting the data. Okay, so how I do that is I've loaded this EA up and in the, in the, in the comments section. Yeah I put bf because it says here bf. Okay. And if I click OK, it'll work it out automatically and it'll say bf has made $8.70. That's what bf has made. So if I want to know what gold has made, I click over there and I say gold.

And it takes a little bit of time to render. It works it out and then it will render in the top left hand corner. It's just a very nice little EA that we created. If you guys want it, I can put it on your, in your expert section. It's just nice, nice to have Helen.

Should you know the comment exactly as it stands in the comment side. Just, just something that it can notice it like gold, not gold.

Don't know why it's taking so long. Let's just tickets and see. I don't know what's taking so long. Let's just remove it.

Okay, we'll come back to it. It'll work it out. I'll come back to it. Okay. So do you guys have any questions? Are we going to close? I would leave your account now. You've made a little bit of profit. You've made a court like 0.4 of a percent for the day.

And I would leave it. There's nothing more you can do here. And every day you'll check your profits here. You'll go back to your account. If you want to phone me or you want to just WhatsApp me then we can have a discussion and then I can help you to make an educated decision on what to close out. So maybe.

Okay, that would be awesome.

Maybe you'll, you won't make profit this month. Maybe you'll lose a bit of money, but.

Unfortunately you didn't catch it in time.

Okay.

So we, we need to, you just need to manage it now. Okay, thank you very much. Cool. No problem. So I'm going to delete your account. I'm going to delete your account off my, off my MT4. Okay.

Okay.

Okay.

There you go. I don't have your password or anything. You're welcome to change your password login and change your password again. Okay, cool. So does anybody There you can see gold has rendered and it's made 16.6 cents. It's just a lacquer, like a little EA. Okay, so who wants me to analyze their account? Does anybody want me to analyze their account?

You can take mine.

What's your, what's your VPN number?

That is the. Let me just check. That's the one that you've sent me in the telegram.

Yeah, but your account is. Check here is low.

Okay, but, but just a question. Okay, leave that. But just a question. If I go onto my screen and I click my euro USD pair. So if you click each pair, there's an individual drawdown for that pair. Am I right?

Yes. Just give me the account number. User.

Okay, let me just.

Five four three. What?

Yeah, it's five four three zero nine one. Yeah, I'm just asking. If you look at my drawdown, man, click on the Euro US.

Yeah.

And if you click on the, the.

Second pair, 0.31, it's the same. It's the drawdown for your entire account. It's not per pair. If you want to know what you. If you want to know what the individual pair is, then load this. I explore. Okay. Change the colors to what it's easier to read. Okay. It's under indicators. It's iexplore. And now you can see, you can't see it as a percentage, but you can see it as, as dollars. So GBP AUD is $4.30. Gold is. Is 45 cents. UJ is a dollar.72. So that's how you would work it out. So you could just divide that by.

The amount that you've got.

So in other words, let's look at your equity. You can see that Your equity is $2,800. So it's $2.37 divided by 2,800, which is just under.

1%.

So would you recommend with my equity I must increase my lot sizes?

I don't recommend anything. I'm not a financial advisor. You need to wait for a trend and then you can make an educated decision. If this was my account, I would, I would trade 0.5 per thousand dollars equity. That's what I do. 0.5 per thousand equity.

So you've got $2,000. So if this was my account, I would increase like your euro US dollar to a one lot.

That's what I would maybe because if I was a novice, I would increase it to 0.5 and wait for a trend, wait to see what it does and then after that make a decision. Okay. All right, cool.

So thank you very much.

Bucks on the call. So, Mark, do you want me to look at your account?

I don't mind.

You know, I'm still, I'm still exploring it. So that's why I've got lots of pairs.

What's your user number?

Alan, you can maybe look at mine. And also I just need to know if I can move over to my phone.

Yeah, you can.

Sorry. Alan, can you hear me?

Yeah. Give me your user number, please.

It's 543024.

The problem I have is I'm only like late at night by my PC, so I need to use this on my phone.

But I've tried off this investment investors account to the real account, but for some reason I can't get it right. Is there something I'm doing wrong with a password? Maybe.

What happens is that your password lasts two weeks on FPS. You need to reset it in FPS in the FPS portal. So you go log into it.

All right.

Video that you see.

Yes. And then you'll be logged out over here as well. So you need to then re log in over here. That's why I create my own password for myself. I don't use that. Okay, so your lot sizes are crazy huge. Yeah.

The problem is I've had, as you've known, I've done the 12, 14 pairs situation.

Okay.

And I burned my fingers there.

Yeah.

I went down now at least to down to three. So I took my profits and I closed the oldest trades on the all other pairs.

Let's, let's.

So now I'm at least at 3.

Let's do an analysis of today and see your profit.

For today. Okay, so today you've closed out. You've closed out trades. $43 in a loss. Why?

I've basically used some of that. And then I went to like two, three back two, three weeks back. My oldest open trades. That's in a loss. And I started closing then.

So did you use your profit to close out?

I use my profit to go and close losses, the oldest ones.

Okay, that's fine. So you've done a good job. So what, what, what has your drawdown reduced from what was.

Was actually higher? It was at one stage, I think 60%.

Okay, so you brought it down.

Yes.

So I just need to. I think I must just carry on doing that and stop doing my own trades. As you can see, I've done that.

Are you trading as well manually on this account?

That's what I shouldn't do.

Yeah.

And I know I got involved there.

Yeah. You shouldn't do that.

Yeah.

Okay. So you've done a good job. You're closing out your trades from your profits of your gold. You're doing fine. You'll eventually window whittle this down to nothing and then you can restart your robot. You've learned your lesson. I don't think you're going to do it.

Do good.

Thanks. Cool. Anybody else want me to analyze their account? I've got three minutes left of this, of this call.

Yeah, you can do mine.

What's Your user number?

543001 I assure you you're going to.

Run into a problem. I, I have like it's not even a question. So if we go back to.

Was it Shireen, what was Your user number? 543-03-2543012.

Let me quickly check for you.

So it is, Let me look at my account. Just give me one second and I'll try and find.

I'll try and find.

You can just have a, have a look. You can see what my problem is. Gold. The drawdown is gold is at 58, nearly $60 there. If you more than all. It's the only problem I have using.

A lot exponent here. The other ones you're not using a lot exponent.

That's why it's like that.

So if I keep the lot sizes smaller on more pairs, what's the difference then if you go on two, just three or four pairs with bigger lot.

Sizes, you can do that. That's a better way of doing it. That's what I'm saying to you. Rather than pairs, rather have less pairs with bigger lot sizes.

But the problem is that I had a, I had a real problem for the last week. € USD went.

It went north and it didn't come down and I had.

Sometimes, sometimes the pair will trend for like a month and you won't make money for that month.

Then if you only in, if you're only in three, three or four pairs then you down on one pair, you've only got three others.

That is why I'm, you know, so, so what happened was € USD I just shut it down, you know, put it on 0.01 lots.

We're going to get cut off guys. So I want you to rejoin this the zoom call because it's very important that you understand this.

Yes, I saw that.

Did you see the gaps?

Yeah, but I mean if you, if you limit like each pair to like you said, the limit the max amount of trades to 25 there's a gap.

I ran out of trades. Dude. How am I gonna get back here? That's one, that's. That's one. That's 1043. So that's 184. 84 to 94. That's 100. 204. That's 200. That's 300 pips. That's the length. Okay, 300 pips. It's taken from the 5th of April to the 19th. It could take me a year to get back down here to my take profit. A year? Why? Because I was greedy. I had too many pairs open. My robot couldn't open trades because this trade, this trend that. This is 50, 60 trades over here. Just can't. The account can't handle it. Sorry.

Yeah. Ellen, I think the people need to understand it's not, it's not the ea. It is FPS that limit you on.

The amount of trades you have open. Brokers, all brokers limit you. Unfortunately, they don't allow you to. But they do it. They're not there to be your mates. That's why we've got to work within the parameters of FPS of the broker and what their parameters are. So now we know that they don't allow it.

We need to work around it. So instead of having so many pairs open, rather have fewer pairs. And if the EAs, let's say you have three pairs. Euro, US dollar EJ and GJ. Okay, and let's say all three pairs go sideways and you're not making money. That's why I gave you the gold ea. Because the gold ea.

Hang on. Yeah, hang on. We're looking at my account. Yeah, so, So I know the gold. Gold, but look at my account. My account is the. The biggest DD is on gold.

Yes, but the DD's low.

We're going to analyze my account, then you need to analyze my.

Okay, well then analyze it as a percentage. Bud. Just hold on. Let me just organize my life here. Okay, so let's look at your equity. You've got $2,100 in there and there's $58 in trades. So 58 divided by 2,158 divided by 2100. Okay, it's 2%. It's nothing.

Yeah, I know, but if gold carries on training up, it is going to get worse.

And I've seen this EA open more than six trades.

I haven't seen it open.

Okay, just. Okay, so just coming back to the number of pairs. Yeah, right. If, if you limit. If you set the bot up with max trades of around 20 per pair.

You'll still have nanotip, you'll have a gap here. So let's say, let's put it at 20. Okay. And the currency keeps on trending. So here's your 20th trade and the currency keeps on trending, goes up and up and up and up and up and then lands over here. And now it's got to come down. So it'll come down, then it'll go up again, it'll come down and it'll carry on going up. Could take you a year to get back to your, your take profits. Yes, it will come back 100%. It'll come back. It's called dollar cost averaging. The currency always reverses back to its average mean price. But that could take two to three years for that to do that. So that average mean price is worked out over a 20 year period. Maybe 20 years, maybe 10 years, maybe 5 years. You can work out your average price, but it could take you a year.

If you, if you set a max max trades right then yes, those trades will be stuck. But if, if, if one pay trends and it keeps making trades right. And then eventually you have to either put the lot size to.01 or set the max so it stops making trades because it's, it's just going in one direction. Then you have the same problem. And then if you've only got.

Yes, but I don't do that. If I've got three pairs. I don't set it to max trades of 20. I set it to max trades of 100.

Okay, yeah, I see.

Yeah.

But yeah.

I'm still using small lot sizes so you know, I'll see how it goes, you know and I think I'll, I'll take. But I still can't see why.

Having more a lot of pairs limits your exposure. Because one if one because like I saw that Euro USD trended but the other euro pairs were okay. So it's, it's not, it's not like they all go. It's like one goes and then they do.

Sometimes they all go. I think, I think I can, I think there's people on this call that can, that can agree with me. That currency definitely will go Mark.

What I think as well is mark that even, even if the Euro USD trends, it does not go up in a straight line. It goes up and then it retraces a little bit and then it goes up. And, and I think that the aim of the robot is, is to get your take profit level as close as to the actual current Price level. And if you only said it that it can only open up 20 trades when it does trend, 20 trades might not be enough to get it close enough.

That's the problem. It's going to stop then and not trade in the opposite direction to keep your profit for when it returns.

Correct.

So you can't limit it to 20 because it needs maybe 40 to return and then close at a profit.

Correct.

Okay.

And what I found with the gold EA is, and I think there, you need to have a very good look at your lot sizes because the gold EA doubles in lot size every trade that it opens up. And that's why only with maybe three or four trades open up, the exposure is getting that high. But it really, it returns the money very, very quick. I mean, I've. Alan only gave us the gold ei. I wasn't sure was it on Friday or was it on Thursday?

And I mean I had a scare on Friday because of the lot sizes that it opened up. But I mean, to this day, I mean I only started last week, my account and I open up a micro account and I am up 20% in this from last week to this week. And I'm only trying to do, I'm, I'm only trying to do what the robot is doing. I'm not anything else.

Just your lot sizes must be huge if you're up 20% already in two days. So.

Yeah, I mean, you down.

Yeah.

But my.

My account size is. Sorry, my account size. I didn't open up a thousand dollar account. I opened up a eight thousand dollar account.

Did we set that EI up?

Sorry, we set that EA up together. Did you do it on your own?

Yeah. You loaded it up for me?

Yeah. Those lot sizes were big. So you've calmed it down?

Yes.

Okay.

Yeah. Especially on the gold. On the gold one. This is Lawrence.

Okay. Yeah. Okay. Sorry, Mark.

Yeah, I mean it's, it's, it's, it's just the bad. You kind of, you know, my gold EA took out a whole lot of sell orders and then the price went north. So now I'm just sitting with that.

You know, and understand where you, where you're at. But.

You must understand what this gold EA does, Mark. This gold EA is a hedging ea. Do you understand hedging?

You can explain it to me.

Okay, so it starts with a buy and a sell together. It opens two trades. One bar, one sell. Okay, so let's say the currency goes north.

The bar trade will take profit and open up another new buy trade.

The cell Will open up another cell bigger than the first cell.

Double the lot size.

Double the lot size. Okay, so, yeah, this is what's happened. Let me show you. This is where the, the robot started over here, 0.1. Okay? It opened two trades. It opened a buy over here, a buy and a sell over here. The currency went here to 0.2. The buy order closed and a new buy order opened. But a new sell order opened as well. Your profit from your buy order, okay, covers the loss of your sell order, okay? Okay, so you've taken two profits here, the current one profit here, you're sick. Then it goes up again. Your second buy order closes and another sell order opens. Okay? Now you've got two.

Buy buy trades that have closed in profit, which will cover maybe one and a half of these trades. Not everything. Okay? So that's why the drawdown is so low on my FX blue of half a percent, because I've taken, I've taken profit.

So, yeah, it's closed probably four or five buy orders, okay? And then it carries on going north when it reverses down, okay, that, that buy order will now open another buy order and another buy order. By the time it comes down here, your drawdown is the same. It's level, it's hedged. Your drawdown isn't moving that much because you've got equal buys to sells. So it sort of balances out.

Does it make sense?

Yeah. So I only went up to the sixth level because the lot sizes looked scary.

Right.

Do you recommend that or do you recommend going all the way to the 12th level?

All the way to the 12th level, yeah.

You must, you must not stop it. You must leave it. Rather make it smaller lot sizes.

And you don't stop cash flow to, to, to, to fund it. I'm not saying increase your lot sizes. I said to you originally, you've got cash flow. Be careful with your lot sizes in case you get it wrong. You've got cash flow to fund your account.

Yeah, yeah, Mark, that is exactly what happened to me on that Friday. As I said, I mean, I saw it trading at Lot 7. I think Alan said he saw it never opens up maybe more than six, maybe seven. So lot size seven was already quite a big. And that's where I got the scare as well. And then I went back to the EA and, and I set up the starting lot size and I made it smaller because it doubles on every trade. So you, you have, you have it started on 0.1. So maybe just go and have a look at that.

That's why your account, that's why you worried about gold. Because of this gap. This gap shouldn't be here.

Okay. So let's. Yeah, it would have closed 100%. It would have closed. So let me just expand here. Get some candles in here and let's just minimize it. I'm gonna just change the, the time frame here to a 15 minute. We'll change it back. I just want to see what's going on. So it's not a. Not a pro. Yeah, you see you should have had trades here and yeah, when this thing retraced down to here, all your cells would have. Would have closed.

All your cells would have closed. You've limited this to six.

Okay.

Yeah. You've limited it to six. So. Yeah, I wouldn't. That's why, that's why you concern.

Alan. If you go back there, just open that up again. I think there's a problem as well. The lot started there and the lot number one is also not correlating and.

That must be also from.

I just caught that. Yeah.

Yeah. Thank you for that. Okay, you've set up your EA incorrectly. This lot and lot started needs to be the same. They both need to be identical. So that's why your EA is also like it's confused or take profit.

So let me just have a look here. Let me just see what your story is yet.

So what's it? $50.

The cells are at $58. I think he said.

No, we can check it. 58, $59.

And then just quickly.

This, this is going to cost you money, Mark. This is going to cost you money. If I, if this was my close it up and set it up, I would close my gold trades, lose the $58 and restart the robot and do it properly. That's what I would do. Because by the time this thing reverses could be a week. You'll make that $58 back in two days. So you, you, you're going to lose on the swings and you're going to make up on the roundabout. That's what's going to happen. Yeah.

Yeah.

Okay.

I would. And I think even, even if you are doubtful about the gold yang close it, set it up that it trades on the minimum lot size that it can so that you just check it out and see how it works for a week and then you look at the take profit that you had from it and then you see, okay, so if my lot size was bigger, the profit would have been bigger. Or if it's at a loss, you would say listen at least it was small. But then you trust the robot, the ea.

Right. Okay.

Just want to change your back to one minute. Yeah, but that's. If this was my account, I'd close out the gold and reset up the robot. That's what I would do. Okay, so this is a very good call, guys. This. This is very valuable to everybody.

Why did you open that exposure window?

Okay, so it's. Yes, it's under the indicators. So it's under the indicators.

All right.

I explore. So, so it just tells you. You just drag it onto any chart and you can just hover over. Hover your mouse over the horizontal line until you get the two arrows, and then you can just drag exactly what your exposure is. Okay. It's a lack of little tool. Very lack of tool.

Sorry, guys, I gotta go. It's nice. Light shedding is about to eat.

No problem. Thanks for your input. Is there anybody else that wants to comment?

No, it's all right, Ellen. I'm just going to try and put this thing on my phone so that I can, during the day, still start closing profits with the old losses that I have to get PD down.

Okay, cool. All right, everybody. Well, thanks so much for the call. Really appreciate your time. I hope that this has been.

Educational and will help you to get your drawdown lower in the next couple of weeks. And I really appreciate you coming onto the call. And we'll see you on the next meeting. Signing off. Thanks a lot. We'll speak soon. Cheers. Thanks.