Automatic orders on xSignals: open a trade first

 

 

 

 

 

 www.fxxprofit.com

                To open a new position in the trading terminal, the trader must manually select the transaction direction, volume, if necessary, Take Profit and Stop Loss levels. This requires time, which may be limited. For example when scalping. It is easier to do this in one click and, if necessary, change the values on the chart to suit the market situation. This is how automated trading orders from xSignals work.

Trading platform
Select a broker in the xSignals program, and register via E-mail/Password:


Choose a demo account to test automated forex trading software.

Auto order option
We will not consider in detail the process of connecting xSignals automatic orders to the SimpleFX platform. The process is not difficult, watch the video. ( CLICK HERE )

 

There is a lot of data, but starting to use xSignals automated trading is not that difficult. We do this:

               Take a look at the Profit Factor value, which is defined as the ratio of profitable trades to losing trades for past signals for a particular combination of xSignals strategy indicators. In other words, the bigger it is, the higher the probability of profit.
Next, we determine the level of profit and loss on new orders. We look at the Taking Profit/Stop Loss Ratio for each option. The value determines how “far” the level is from the opening price. The greater the value, the greater the profit or loss when closing the position. Example of automatic stop loss and take profit:

How to set stop loss and take profit? Everything is simple. If you see market “expansion”, choose options with values greater than 5. If volatility decreases, take shorter options.

When there is a strong trend, open an order with a large Take Profit. For medium and long term strategies, take more Stop Losses, so you can wait for pullbacks and corrections

Important. Once levels appear on the chart, see how they are located relative to technical and chart patterns, local max/min, trend, and channel lines. If necessary, move the line to the desired value 

• Trading strategy

Let's move on to a usage example. This video shows three preferences for automated Forex trading from xSignals:

The position is closed “in market” at the required profit or loss level.
2. Hedging: losses are compensated by opening a second author's order on an active order with the opposite trend.

3. Transactions are not followed and closed automatically with Stop Loss and Take Profit.

In the example of trading with automated orders from xSignals, we will use standard technical tools that all brokers have.

All characteristics of the strategy

Type: Trend.

Timeframe: Anything in the M5-D1 range. In our case, M5 is used, but as the analysis period increases, the accuracy of the automatic stop loss and take profit also increases.

Trading assets: Any and active crypto. The main requirements are fixed spreads (2-3 points) and no hidden fees.

Trading hours: All sessions (Forex), 24 hours / 7 days a week (cryptocurrency).

• Close «by market».

Install on the chart:

Bollinger Bands. The horizontal direction of the indicator line confirms the existence of a flat, a break of the line will signal its end. If the range is wide enough, you can open a rollback position from the border. This method is only recommended for experienced traders!
Awesome Oscillator. The oscillator will eventually confirm the signal from the previous indicator. Additional signals can be obtained using intermediate levels − in this case, the Williams Magic Oscillator will also serve as an indicator of overbought/oversold conditions.
After installing the tool, the terminal working window looks like this:


Trading signals:

• BUY orders. The price is above the lower limit or middle Bollinger line, the green awesome histogram is above the zero level.

• SELL orders. The automatic forex trading situation is reversed. The price is falling on Bollinger, the red histogram is below the zero level of the oscillator.

• Hedging.

The strategy uses two technical indicators.

• Doncian Channel (DC) - the horizontal direction of the channel line confirms the existence of a flat, a break of the middle line will be a signal of its end. If the range is wide enough, you can open the option to roll back from that limit. This method is recommended only for experienced traders!

• Stochastic − the oscillator will assess the current balance between buyers and sellers: predictor above level 80 − end of uptrend (overbought), below 20 − end of downtrend (oversold).

Trading signals:

• We open a BUY when the price emerges from the lower Doncian border or breaks the middle line from bottom to top. Confirming the Stochastic signal. The price must rise from the oversold level or be in the overbought zone above level 80.

• For SELL the conditions are reversed. The price falls from the upper border of the channel or below the center line. The oscillator fell from the overbought or oversold zone below level 20.

Important. Before you start using hedging, make sure you have a clear understanding of how to use stop loss and take profit in forex trading. To hedge the second trade, it is more important than the first primary trade.

Signal example:
Euro yen cross pairs that often have strong impulses with good returns. Lateral channels between the upper border and the midline of the Doncian. Stochastic is overbought. The signals can also be used for automated cryptocurrency trading.


Important. xSignals automatic orders are not PENDING orders, which are available in any trading terminal. They are opened at the CURRENT price, and the PENDING ones start working only when the price REACHes the specified level.

Automatic trading closing positions.
Strategy on one indicator:

Super Trend. Calculates current support and resistance levels based on the average True Range or ATR indicator. The larger it is, the closer the trend reversal is. To adjust the current volatility, use the «Multiplier» parameter; for most currency pairs it is recommended to leave the basic value.

Simple signals that beginner traders can understand:

• Open a BUY order when the price breaks the indicator line from bottom to top, and the color changes to green.

• The SELL order unfolds from bottom to top and the indicator turns red.

Let's summarize.

Automated forex trading with xSignals orders allows you to quickly open positions in any market situation: from high intraday volatility or after the news to “calm” medium and intraday trading. It is also very easy to immediately see the approximate Taking Profit and Stop Loss levels: how they are located relative to trend lines, max/min and other market "strong points".

Once again, we remind you that automatic orders are only an additional tool for comfortable trading. The basis will always be strategy and money management.

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