It was in our German MQL4 premium course, in study letter 11 when an interesting question came up.
How much influence has the trading entry when it comes to trading results?
I mean, yes, everybody tries to find the “perfect” entry, the holy grail that will always be perfectly right. But we all know, that we are wrong from time to time, regardless what we do.
And we all want to beat random to get that little advantage and make more than we spend.
Imagine you have a system up and running and you are a trend follower. Wouldn’t you like to know, how much better your system is? I mean if you make 20 percent a year, would that mean that a random entry would make you 10 percent?
If you are like most traders, you don’t believe in random entries and you might think that the entry is the most important part of a trading system.
And for discretionary traders it is hard to find out, because they can only do so many trades at a time and it will take them years to come up with a significant number like say 5000 to 10000 trades.
I have seen systems doing 20000 and more trades in the MQL4 Backtester within a few minutes, following the exact same rules for each and every trade. If you have rules, that could beat random entries, wouldn’t you like to know for sure? How much better would you feel if you could truly believe that your system could constantly beat random entries?
It is not so hard to do in MQL4, because most discretionary systems follow similar rules. You might open a position when some indicator, moving average or oscillator gives you an entry signal. That might be Mac D, Bollinger Bands, a moving average, the RSI or whatever you use.
Two things: First I bet you didn’t calculate these signals for yourself. They are precalculated and made visible on your computer and you might be a discretionary trader that is trading exclusively computer generated entries already.
Second: All these signals are already available in MQL4. So it is not so hard to create automated systems that can trade on autopilot with what you already use. And you can compare your entry signal with other signals and find out if it can beat random entries.
To find out we created that MQL4 Golden Goose SALT system on February 18th 2015. And today on May 28th we have made 529 profitable trades. That is 1197 Euro and yes, it is only on a demo account.
I always do extensive tests on demo accounts before I consider live trading – but this one surprised me!
SALT is cash flow positive, the balance and the equity are above the deposit and that includes all open positions. That might change in the future, but today I am impressed about the results a random entry can produce.
But I know talk is cheap and you have good reason not to believe me a word of what I am saying. And that exactly is the reason why I decided to give you that SALT system away for free.
You can download it now and start to test it yourself. Metatrader4 is also free for download on Metaquotes.net. I do trade it on 22 currency pairs at the same time on an EEE PC 1000H, so no fancy hardware is required.
All statistics are completely available for everybody on MQL4Tutorial.com/SaltStatistics
That link will send you to the SALT statistics page on MyFxBook.com where you can see each and every trade result the SALT system made so far.
After you have downloaded the EX4-file you have to put it into the MQL4\Experts folder of your Metatrader 4 installation. You need to have a demo account up and running that allows automated MQL4 trading with position sizes as small as a Microlot.
A lot of brokers want you to trade at least 10 Microlot and that won’t work. This version of SALT won’t work on real accounts either, because I only want people to trade live if they know what they are doing. And if you don’t know what you are doing, you can simply become a Golden Goose course member for free today.
So here is the download link for the SALT system. If you listen to the podcast, you can find the link in the show notes.
Download the SALT system, setup your Metatrader4 demo account and start to trade 22 currency pairs at the same time today. I promise, you will like the experience!