- Minimum Deposit: The EA can be used with a variety of account sizes, but a minimum deposit of around $1,000 is recommended to ensure effective risk management.
- Timeframes to Run:
- M15: The EA actively monitors the 15-minute chart for trading opportunities.
- H1: It also analyzes the hourly chart to confirm buy and sell zones.
- D1 (Daily): The daily timeframe is crucial for overall trend confirmation.
- Currency Pairs:
- Avoid XAUUSD (Gold): The EA does not trade XAUUSD (Gold) to maintain a diversified portfolio.
- Recommended Pairs: Focus on major currency pairs such as EURUSD, GBPUSD, USDJPY, and AUDUSD. These pairs offer liquidity and stability.
Trading Strategy
The First Brick EA follows a Dynamic Cost Averaging (DCA) strategy, combining safety with potential high returns. Here’s how it works:
- Buy and Sell Zone Confirmation:
- The EA identifies buy and sell zones using the daily chart (D1).
- It waits for optimal entry points within these zones.
- DCA with M15/H1:
- When a trade is initiated, the EA uses the 15-minute (M15) and hourly (H1) timeframes for dynamic cost averaging.
- It opens additional positions if the market moves against the initial trade.
- DCA helps manage risk and improve overall profitability.
- Profit Retention and Combo:
- The EA aims to hold profits by combining different trades.
- It doesn’t close positions too early, allowing them to accumulate gains.
- The combination of trades creates a “combo” effect, enhancing overall returns.
- Risk Management:
- The strategy balances risk and reward.
- While it offers higher profits than some other strategies, it maintains a lower risk profile.
- The risk ratio is typically set at 0.05% per $1,000 of account balance.
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