Any trading advisor is just a program working according to a specific algorithm embedded in it. The lack of advisers – ignoring the fundamental factor and the narrow specifics of the work. For example, some advisers show the best option at night, others work on scalping strategies in the growing (falling) market after the news, etc. The drawdown is explained by the fact that the adviser works continuously and at some moments shows the worst results. How to proceed? Turn off the adviser, for example at the end of Friday or at the time of the news, and then turn it back on? Constantly adjusting in the most difficult moments is not an option, because there may be several advisers, and you can just forget. The price of the error is the loss of the deposit. There is a way out – Trade Scheduler adviser.
Trade Scheduler — advisor to monitor advisors
Trade Scheduler is an auxiliary advisor that allows you to automatically turn on and off the main program. For example, in it you can set a trade restriction only from 9.00 to 12.00 or exclude trading on some day. Trade Scheduler will not save from force majeure, but it will be able to limit trading at the time of the greatest loss.
First we go to MyFxBook – monitoring, which allows you to see the statistics of trading by time. The trading period for the main advisor is at least 3-6 months. Analyzed in the advanced statistics section:
- the largest number of losing positions by day of the week. If the trend is clearly traced, for example, on Friday, the day is excluded from trading;
- hourly statistics. The service allows you to see in the context of each day the most profitable and unprofitable hours. The period where the smallest number of transactions with a relatively large loss is excluded from trading. The period in which the largest series of losing trades is recorded is also important. If there is systematicity, then this period is also excluded;
- trading performance at the time of the news release. We compare how the adviser works at the time of publication of a particular report, draw conclusions.
The installation of this auxiliary robot is normal. The Expert Advisor template (available in the free version on the Internet) is downloaded to the MT4 catalog: File – Open data catalog – MQL4 – Experts. In the settings of the robot, three input values are indicated:
- enable and disable the main advisor on a specific day;
- the start time for trading, not only hours, but also minutes;
- time to end trading.
Another indicator is provided – CloseBeforeSwitchOFF. If the value is set to NO, trades are not turned off before shutting down the main advisor. When CloseAllProfitable, only profitable positions are closed (unprofitable stop insured in the hope that they can still bring profit). CloseAll – all open positions are closed automatically when the main advisor is disconnected.
You also need to put a mark in the “General” Trade Scheduler tab that allows automatic trading and import of functionality from DLL libraries. The program works optimally if one main adviser is working on one trading account. Attempts to launch several versions of Trade Scheduler and several main advisors will lead to failure.
Trade Scheduler is an interesting program that allows you to increase the profitability of transactions. Therefore, if you have complaints about the work of the main adviser, do not rush to write it off. It may be enough to turn it off in the most losing moments.