Which is which? Simplified Comparison – My Trades – December 27, 2023
It can be quite difficult to see a trading chart without support and resistance. It’s like trying to navigate without a map. You have to rely on other indicators, which may not always give you a clear picture of where the market is heading.
Trading with TradeWise EA
On the other hand, using TradeWise EA, which provides automated support and resistance, is like using a GPS in your trading process. This will give you a clearer idea of where the market is going and where it may rebound. This allows your trading decisions to be more informed and potentially more profitable.
In conclusion, both methods have their own advantages, but using automated support and resistance like TradeWise EA can provide a more guided and potentially more successful trading experience.
TradeWise EA is a tool that simplifies the trading process by providing automated support and resistance. It offers a variety of features to enhance your trading experience:
Risk management based on percentage or dollar value: You can set the level of risk you are willing to take on each trade, either as a percentage of your available capital or as a dollar value. This allows you to better control potential losses.
Maximum lot calculation based on risk management: TradeWise EA automatically calculates the maximum lot size required based on the risk level you set. This eliminates the need for manual calculations and potential errors.
Automatically close all open positions at the break-even price: If the “B” button is activated, TradeWise EA will automatically close all open positions when the break-even price is reached. This helps you secure your profits and limit your losses.
Profit locking for automatic break-even closing: This feature allows you to lock in your profits once your position reaches the break-even point.
ReadHistoryData = True: This setting allows EA to read your account history based on the time period you select. This can provide valuable insight into past performance and help with future trading decisions.
In a fast-moving market, the process of placing an order must be simple. However, platforms like Metatrader require you to enter tons of details every time you place an order. You also need to calculate trade size, risk and potential profit.
TradeWise EA simplifies all of these tasks. All you have to do is set the values and click “Buy” or “Sell”. This tool takes care of the rest, displaying your total P&L based on the TP SL of your open orders and allowing you to track your stop loss with just one click.
In conclusion, TradeWise EA offers a variety of features that can make your trading more efficient and potentially more profitable. This is a useful tool for any trader as it provides a clear picture of the market direction and potential rebound points.
