MQL4 TUTORIAL - LIVE TRADING EXPERIMENT 2024 - HOW TO DEAL WITH TREND CHANGES

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In this video, we discuss potential changes in a trend. On this chart, you can see that the price is falling, but the primary trend, as indicated by these two moving averages, is still rising. However, if the price falls below these two moving averages, it may suggest a change in the long term trend. Let's zoom in on the chart here. Today is January 15th. I had to restart the robot trading system using a separate trading account because I was unable to change my MetaQuote's demo investor password last week, which is essential to update statistics on myfxbook.com, and I discovered that FX Blue does not support MetaQuote's demo accounts, thus I could not share my statistics. Today's last deal occurred approximately 2 hours ago. We are currently $520 in profit, and the question now is how we should configure the system to deal with a future shift in the trend here. We've done a lot of trading in recent days, but it appears like the price may fall below the two moving averages here. And if it occurs, we must establish rules for what we want to accomplish and when we want to do it.

Most discretionary traders make emotional decisions, but we can measure things. For example, if you click on the chart and use the middle mouse button, you can see the gap between the current price and the upper moving average, which is currently 318 points. It is also possible to specify a rule that requires the system to trade only when the moving average is at least 200 points away from the current price. On the other hand, if we stop trading here, it could take two or three weeks until the main trend changes sufficiently to bring the price below the two moving averages. We also would need to see a crossing since the green moving average remains above the red one, indicating that the uptrend is still valid. If we zoom in on the chart as far as possible and disable auto scroll for the time being, we can see that this uptrend has been in place since November 2023 with no crossovers. The price has touched the upper moving average twice before, but this time it is very close. We currently have no open trades, thus there are two options. Either the price remains in a range where the system determines that the distance is sufficiently large.

In that situation, it offer up further buy trades. If the price falls below the minimum distance or crosses the moving averages, the system will wait until the price returns to the purchase area where trading is permitted or until the main trend shifts to a negative trend. And so far, I am pleased with the results. Of course, we may increase the position size or risk level, but I want stability. So we'll see what happens this week. And that concludes this video. I appreciate you for watching. By the way, this is the statistics website. Click on the link below the video description to view all of the details. In my instance, it's German because I'm from Germany, but it will recognize the native language of your operating system. So that's it for now. If you want to code your own robot trading system or hire this one, please contact me or visit my website. For now, I want to thank you for watching, and I'll see you in the future video.