***ELITE Dragon Trader** Setup Instructions.
Running Dragon: Dragon Runs on 3 charts!
How to install EA to your MT4 folder here: https://www.youtube.com/watch?v=xAfN-NO7VE8
Please attach to chart GBPJPY 5 MINUTE TIMEFRAME ONLY, Please open 3 charts. (pic below) and attach EA to each chart of GBPJPY 5 Minute.
Make End Time 09:15, Magic number 1 & Trade Comment "Dragon1". This is the default setting of the EA and you should only need to change lot sizes in this case.
Make End Time 10:05, Magic number 2 & Trade Comment "Dragon2". All other parameters remain constant.
Make End Time 11:45, Magic number 3 & Trade Comment "Dragon3". All other parameters remain constant.
GMT CHANGES: These box end hours are correct when broker is using GMT+3 clock which represents most of the calendar year, about 48 weeks
During DST changes, broker will out of sync and move end hours to these, (normally the time between UK and US clock changes - 2 weeks in March and 2 in Nov)
Chart 1 from 0915 to 1015
Chart 2 from 1005 to 1105
Chart 3 from 1145 to 1245.
Start time is always 02:00 on all 3. Max lot should always be X4 bigger than start lot.
EA need to run all time during market hours. EA uses stop loss 20 pips and target 20 pips with internal trailing stop loss function active from 10 pips., Once you attach EA to
charts it still being to place orders the next morning at 0915 Server time, 1005 and 1145. Sometimes the trade are independent and sometimes they fire concurrently if the morning
range is slow. After a while you will understand it very easily.
EA is set to 0.1 base lot and increase factor X2 after loss to max lot size 0.4. (right for €2000 account/$2500).
ELITE Dragon will remain on the top lot of 0.4 (or whatever your max lot is) until win, and then it reset to base lot again after win trade.
Our model here is using $25k per each 1.0 base lot, (Start Lot 1.0, Max lot 4.0.): https://www.myfxbook.com/members/AlnoTrade/elite-dragon-trader/6525642
So, basically the standard myfxbook model runs at 4:1 leverage on start lot and 16:1 max lot.
It is rare to loss on the the 3rd cycle, maybe 1-2 times per year.
Dragon - Backtest
To make backtests that demonstrate profitable trading from the dragon from historical Data.
First, make sure you have ample 5 minute data in your history in MT4 terminal. Some brokers have more history in their databank that others, you can download more from dukascopy. You can also see our 3 backtests from dragon under our profile under strategies section: https://www.myfxbook.com/members/AlnoTrade
So, start by pulling in your data and open strategy tester in Mt4.
This is the set for Chart 1. For Chart 2, change boxendhour to 10:05 (all other parameters remain same( and for Chart3 change to 11:45 boxendhour).
This will give you 3 independent backtests that dragon runs on. Make sure timeframe is 5 minute and you have 1 min history to get a 90% quality test.
To summarise, Chart 1 set is as follows, (chart 2 backtest change boxendhour to 10:05 and for the 3rd test boxendhour=11:45) These times are in GMT+2 broker. If you download dukascopy data they use GMT so you need to change the times.
Lots are set for testing on a €2000 account.
ts===== TRAILINGSTOP ====
We have concluded this will help keep drawdown under better control in really narrow markets, but have little downside impact to returns. We have uploaded the new backtests to myfxbook with these new parameters, and Chart 1 shows the strongest return, followed by 2 and chart 3 lastly.
https://www.myfxbook.com/strategies/dragon-new-settings-aug-20th/314935 (Chart 1 Profit Factor 1.50)
https://www.myfxbook.com/strategies/dragon-new-settings-aug-20th/314936 (Chart 1 Profit Factor 1.41)
https://www.myfxbook.com/strategies/dragon-new-settings-aug-20th/314942 (Chart 3 Profit Factor 1.29 )
Any questions, please email me, or chat below.
AlnoTrade Intelligent Trading Systems