If you're diving into the world of pairs trading, you're in for an exciting ride! This innovative strategy involves opening two positions where their profits and losses overlap. Simply put, you’ll have one position in the green while the other might be in the red. The magic happens when the robot waits for the overall profits to roll in and then closes those positions.
Your trading robot can operate in two modes: manual and automatic. In automatic mode, it makes buy or sell decisions based on the trading session’s dynamics. Just make sure to specify the symbols you’re using—whether they are pairs or mirrors—to harness the full power of automatic trading.
Understanding Your Symbols
- Pair Symbols: These are symbols whose charts show similar patterns.
- Mirror Symbols: In this case, the charts are specular reflections of each other.
Here’s a snapshot of your potential profit statistics:
Important Notice!
To fully utilize your Expert Advisor, you'll need correlation indicators. Make sure to install them in your terminal data folder/MQL5/Indicators, as shown in the image below:
Key Parameters for Your EA
- Correlation Threshold for Orders: This value determines when positions are opened based on correlation.
- Max Order Attempts: If your platform fails to open a position on the first go, this setting dictates how many retries it’ll make.
- Lots for Each Symbol: Choose your lot sizes so that the profit from one pair offsets the loss from the other. Ideally, the overall profit should hover around zero, especially during stable correlation periods (see the figure).
EURUSD and USDCHF Trading Stats
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