Pretty basic setup. Using it on a system that seeks trades based on the hour of day and price action, with 1440 ATR for zone and 30 day period. Only been running on EU, but, honestly, EU could be a bad pair for this right now as it is just moving sideways and may do that for a long time. Fortunately, the sideways channel is not too tight, which is when I will likely get nervous (and unfortunately only something to see after the fact). After I get a little more experienced with this, I might start switching pairs. Also, thinking of running this on 15M system as well (more trades, more risk).
To maximize this managers ability, my thought is that the system should be in the market quite often, if not all the time. One could just as easily do this manually, but the idea is to have an EA that trades all user-inputted pairs but seeks an immediate entry only in one pair in the long term trend direction based on currency strength or ATR or volume or whatever on a higher TF, just so long as it is picking one pair that is moving hard. The EA places one trade, ALR manages that position until TP is hit, and then the EA immediately places another trade in another (or the same pair). Ultimately I think it is dangerous to run this on one pair, particularly when price consolidates over a long time. |
