Mr Pound
Mr Pound is an Expert Adviser derived from many trend following indicators to generate signals that are automatically traded
- please make sure you have an account with a leverage of 1:50 0
- Strictly recommended to 1H timeframe ,GBPUSD only
- The lot size is based on your balance
- Do not close any trade ,whether in profit or in loss to allow a safe money management
- If the Last trade is a loss while back testing ,it just mean that the trade was still opened but close at stop ,adjust the end time of the backtest to the opening date of the last trade and test again
Timeframe
The H1 timeframe is strongly recommended.
Currency
GBPUSD only recommended. The other major currencies can be traded with caution but It is advisable to perform back tests to determine if trading results and frequency is acceptable.
Risk management
The average take profit is around 1% of your account . more than one trade is opened until 1 % profit is reached then all open trades close. No martingale trading is used as part of risk management.
Please do not use this software on multiple currency at the time ,focus on one currency for less risk and more profit
The Expert uses a Position Sizing of 1 Lot per 10000 Unit
.
Recommended balance
The minimum recommended balance for the EA's use is $1000.
Parameters
- Magic number . This number is used by the EA to identify its trades from other trades. This is useful when you insist on placing multiple copies of the EA on multiple charts. In that case, please define a unique magic number for each chart.
