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Using Money Mind BTC – My Trading – 5 August 2022

Byadmin

Aug 6, 2022
Using Money Mind BTC


My name is Antonio S. Del Vecchio, I´m a Systems Engineer dedicated to the analysis and design of trading systems for MQL5. In my years of experience I have developed several trading systems, including Money Mind BTC.

Money Mind BTC is designed to be used on the BTCUSD pair and optimized for ICMarkets broker. The main idea is that the algorithm finds patterns that have consistently been repeated over the last year in the price of Bitcoin against the dollar and takes advantage of those patterns to make its trading decisions.

Recommendations

  • Recommended Broker: ICMarkets
  • Account type: Standard account
  • Leverage: 1:200 or higher (the higher the better).
  • Minimum deposit: $500

How to use this EA

  • Open the BTCUSD pair
  • Select Timeframe H1
  • Drag the bot to the chart and in the Common tab, select “Allow Algo Trading”
  • In the Inputs tab, specify the values of your preference. You can also download the latest setfile (located at the bottom of this page) and by pressing the Load button, use those values
  • Press the accept button
  • Activate Algo Trading

For a proper functioning of the bot, it´s recommended to use a VPS. You can hire MQL5 VPS services. If you don’t know how to activate a VPS, you can write to me after your purchase and I will guide you step by step how to activate the VPS.

It is important that you know that the backtests are only used to check the potential of the bot to find patterns in the price and based on that information, take advantage of these patterns. However, that is not a guarantee of resounding success. The bot can also lose. Keep in mind the basic principle of every trader: never risk an amount of money that you are not willing to lose. Trading is a high risk business.


Inputs

  • Magic Number: number to identify open positions by this EA.
  • Profit per cycle: Percentage of profit to be obtained when touching the take profit, calculated on the balance.
  • Recovery percentage: Percentage of recovery of the price to locate the take profit.
  • EMA period: Period of the moving average that is used to identify the trend.
  • Position type: Type of position to execute (Only Buy, Only Sell, Both).

Updates

Money Mind BTC is constantly improving. Every time there is an update, MQL5 will notify you and you can update the bot.

SetFile

I will be updating the SetFile at least once a month. The setfiles are optimized for the ICMarkets broker and you can download it at the bottom of this page. There are three types of setfile:

  • Aggressive setting
  • Moderate setting
  • Conservative setting

If you have any questions you can write to my telegram @simondelvecchio



Image and article originally from www.mql5.com. Read the original article here.