|Introduction (Ratz Trap)|
|From JTAWiki, a project by J Talon LLC|
Ratz Trap is an Expert Advisor which has its entry method based solely on Price Action. It will wait for a movement in the price before placing a trade, then take a profit on the retrace. If the retrace does not occur then it will place additional trades in a grid, with the safety of Trend Guidance if required.
Ratz Trap will place the First Trade with a pending BUY and SELL LIMIT order at a set distance from the current Bid price and wait for a reversal in order to take profit. The volume of the first trade is based on the Lot Size Calculation. If the price goes against the initial trade, further trades will be placed based on a Grid System with increasing Lot Sizes and optional TrendGuidance, until the price retraces enough to hit the Take Profit point. In addition to closing the basket at TP, there are Other Exit Strategies, including Stop Loss and Trailing Stops, and Emergency Close All.
Ratz Trap can run on any chart and timeframe, and uses Trade Tracking with a unique Magic Number and Trade Comment to identify trades with your broker. The portion of the Account Balance used by each chart to trade Ratz Trap can be set using Portion Control. To help you keep track of all the charts running Ratz Trap, and the open trades on those charts, another EA is provided, called JTA Dashboard.
But Ratz Trap is not only about making profits, it is also about protecting your account balance when things do not go according to plan, by using Equity Protection. This is achieved by using Portion Control, Maximum Drawdown Limits and power out stop losses.
|Disclaimer||Copyright © 1995-2016 J Talon LLC, All rights reserved|