The Double in a Day Robot is no longer available for purchase
The diagram below shows an example of the process involving four trades.
1. Enter a trade with a fixed Stop loss and Target.
2. Once the price reaches 35% of the way to the target, add another trade and move the stop for both trades to a level where the results of both trades hitting the common stop will result in a breakeven result. The target for all trades will be the same.
3. Once the price reaches 50% of the way to the target, add another trade and move the stop for all three trades to a level where the results of all three trades hitting the common stop will result in a breakeven result. The target for all trades will be the same.4. Once the price reaches 65% of the way to the target, add another trade and move the stop for all four trades to a level where the results of all four trades hitting the common stop will result in a breakeven result. The target for all trades will be the same.
5. All four trades will reach the target at the same time, and the account will either double or triple.
Note that the process becomes risk-free at the time the 1st top-up is activated. All trades will be closed at breakeven after that.
Although the Double in a Day Robot is automated, it is not a trading robot that finds entries for this technique. It is a trading tool that will manage the top-up process by:
Opening top-up trades per the strategy determined before the time
Calculating and moving the breakeven stops to the levels they should be.
Before a trade is entered into the Double in a Day Robot has a strategy generator. Below is an example of a strategy generated by the Double in a Day Strategy Generator. These strategies are created by trial and error until the margin of Safety (Stops) are a reasonable size and more or less the same. Most Strategies do not work and you have to change your account size and trend size continually until you find one that works.
SOME LEARNINGS:
1. The trader is responsible for finding suitable entries (The EA does NOT do this). So, to use this EA, traders must have experience anticipating high volatility trends.
2. The trader needs to develop several strategies using the Strategy Generator and save them for various trend sizes so that they can be easily accessed and utilised. These are found by trial and error.
3. The Robot will do the difficult part of calculating strategies and implementing them, thus taking emotion and stress out of the process.
● Entering the trade at the price level specified by the trader.
● Placing the initial stop
● Moving the initial stop to breakeven to create a risk free trade
● Adding additional trades using 1, 2 or 3 topup opportunities on a risk free basis
● Moving the stops to a level that guarantees a risk free basis continuously
● Closing all trades when the target for all open trades is reached.
4. This Expert Advisor will allow you to specify:
● How many top up levels you want to use.
● Where you want these levels to be.
● How much of your account you want to risk
● What size initial stop you want to use
● The minimum stop size you want to use
● When the initial break-even stop should activate
● What % gain you want to target (100% to double but you can go for any other % such as 20%)
● Where you want to enter the market and in which direction
● Whether you want to trade continuously or one trade at a time
The Double in a Day Robot is no longer available for purchase
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