Have you heard of the rule that what everyone believes about the market is usually wrong?
Most traders at home try to trade breakouts. Statistically speaking, that’s a great way to lose a lot of money. That markets spend the majority of their time range trading.
If the markets range most of the time, then your exit strategy needs to match the market conditions. That’s where the Auto Take Profit (ATP) comes in.
The Auto Take Profit works much like a Chandelier Stop, only that it applies to your take profit instead of your stop loss. Say that you open a buy trade. You set your take profit as you normally do.
If the market goes up and hits your target, that’s fantastic. You bag the pips and move on to the next trade.
But what happens if you bought and the market drops? The chances that the price will recover and rise all the way to your Take Profit get less likely with time. You want to stay optimistic, but you don’t want to go into hope and pray mode, either.
The ATP adjusts to a dropping market by negatively adjusting the take profit. If the original take profit was 100 pips away and the market dropped 20 pips, then the ATP would set the new profit target to 80 pips from the entry price.
If the market kept dropping, then the take profit would get smaller and smaller. Adjusting to dynamic market conditions gives you the maximum odds of closing the trade at the best price possible.
But that doesn’t sound right???
Like I said, the beliefs of the majority of traders are wrong. You can take my word for it, but the chances are that don’t want to.
I’d rather put my money where my mouth is and give you this tool completely for free. The truth is that I could spend all day discussing statistics and the math behind why this works.
I could just give you this version. You can run it in the backtester and show yourself, "WOW! I’ve been struggling for the past X months. This EA is trading at random, and just by using the ATP exits it’s making money on average!"
Haha. The answer is nooooo.
Yes. And since I’m giving the EA away for free, seeing is believing. Run your own backtests.
Enter your email addres in the box below. You will receive the Random ATP immediately.
Then open up your backtester and prove to yourself that what I’m saying is 100% true. The average outcome on these trades really is profitable and better than the average trader.