MTP Development Notes 14 | Do not ignore EA. Why visualize your account on a smartphone.
Hello, this is Tsuma.
This article isthe 14th installment of the MTP Development Notes.
Today as well, I will talk about things that won’t collapse before winning.
The theme this time isReasons to visualize your account on a smartphone.
When you think of EA, you tend to think like this.
Once you set it up, that’s the end.
If you run it on a VPS, that’s the end.
Then you just leave it and it will start earning on its own.
Indeed, EAs trade automatically.
Even if the human doesn’t click every time, entry happens when conditions are met.
If conditions are met, it closes as well.
It moves with a steady logic.
That is convenient.
But there is something important here.
Automated trading is not a system for leaving things unattended. It’s a mechanism to quickly detect unseen risks.
While the EA is running, the account is still moving.
Positions increase.
Unrealized losses grow.
Lot sizes become heavier.
Margin maintenance rate drops.
The Master side moves.
The Slave side follows along.
The market becomes volatile around news.
If you lose sight of this, you may find it painful when you notice it.
Therefore, MTP emphasizes smartphone notifications and dashboard management.
Today, I’ll talk about that.
Here are MTP-related products.
MTP: Master [Free]
https://www.gogojungle.co.jp/tools/indicators/79103?via=usersMTP: Slave [Paid]
https://www.gogojungle.co.jp/tools/indicators/79106?via=users
EA moves automatically. But responsibility does not become automatic
EA moves automatically.
This is really convenient.
It works even while you’re at work.
It works even while you’re sleeping.
It moves even if you’re not looking at the chart.
If conditions are met, it buys and sells calmly.
It’s more disciplined than humans.
Sometimes it’s almost too disciplined and scary.
But automating EA’s operation is not the same as automating responsibility for the trading.
The EA entered a position.
The EA increased its positions.
The EA carried a drawdown.
The account bears the consequences of those results.
And it’s the trader who manages that account.
Therefore, simply installing an EA isn’t enough.
Even while it’s running, you need to monitor what’s happening.
Of course, you don’t have to stay glued to MT4 all the time.
That isn’t realistic.
There are also work commitments.
Time with family as well.
There’s travel.
There’s sleep time.
That’s why you should be able to view it on your smartphone.
That is crucial.
The scariest thing is not losing, but not realizing it
What’s scary about EA operation isn’t just losing.
What’s frightening is realizing it late.
Drawdown occurs.
The market moves against you.
It doesn’t move in the direction you thought.
This can happen.
Because it’s the market, it happens naturally.
But if you can realize it early, you can still make a judgment.
Lower the lot size.
Stop following the trend.
Stop new entries.
Check the account health.
If necessary, manually clean up.
Review the settings.
There are options.
But if you realize it late, the options decrease.
Positions had increased.
Unrealized losses had grown.
Margin maintenance rate had fallen.
In multiple accounts, the same direction was biased.
It moved around news events.
By the time you notice it, the accounts are already heavy.
That is the hardest part.
What’s scary in the market isn’t that bad things happen.
What’s scary is not realizing that bad things are happening.
That’s why visibility is necessary.