Maverick

Overview

Maverick takes trade entries only in the direction of a trend and exits all “in-the-money” trades at a predefined number of pips from the farthest entry. It is a grid style approach with ability to trade long only or short only or long and short. Changing directional settings to match medium to long term trends can greatly enhance the profitability of Maverick.

It is not unusual for Maverick to have a number of open trades at one time and for many of these to be in loss but the algorithms in Maverick will work to recover the losses and to close out losing trades at appropriate times working toward medium and long term profitable returns.

Maverick includes a number of features to improve profitability:

  • Ability to set the trading direction, buy, sell, both or none
  • Logic to close out losing positions by netting against profitable trades while maintaining an overall profit
  • Trades only with the direction of market movement
  • Reduces entry into trades against market trends
  • Grid configuration can be changed at any time
  • Buy and Sell grids can be set with different options
  • Works with all currency pairs

Maverick is NOT suitable for FIFO or No Hedging platforms

Maverick is currently only available as a sponsored product and cannot be purchased directly.

Goals

  1. Medium to long term sustainable profits
  2. Automatic closing of losing trades balanced with profitable trades
  3. Enter only with the trend direction.

Settings

Points refer to the 4th decimal place on currency pairs except for JPY pairs for which a point is the 2nd decimal place.

For example:

AUDUSD 0.7400 moving to 0.7420 is 20 points

EURJPY 132.50 moving to 132.70 is 20 points

Inputs marked as Buy/Sell are described once but appear in the input screen separately for the buy and sell legs.

Grid Settings (duplicated for buy and sell)

Trade Direction

Buy and Sell, Buy Only, Sell Only

Grid Spacing

The minimum number of points between each trade entry

Take Profit Points

Number of points profit for a trade to be closed. Each trade is treated independently, meaning that a single trade can make more points of profit than the spacing between grid levels

Channel Settings

Channel Length

To avoid entering trades against the trend Maverick uses a Donchian channel to determine if the price point is above the trend (Buy) or below the trend (Sell). This setting determines the number of bars, in the timeframe of the current chart, to use in calculating the Donchian Channel.

Nett Close Settings

Nett Close refers to the methods used to nett profitable trades and profits from closed trades against losing trades to allow the losing trades to be closed out with an overall profit.

Nett Close Method

 

Minimum nett close profit points

When applying the selected nett close method, overall the trades involved must achieve this minimum average number of points per trade of profit.

Minimum gap in points to nett close

If the furthest losing trade, according to the nett close method used, is closer to the current price than this number of points then nett close will not be applied.

Order Settings

Order Size

The size of each trade

Magic Number

To avoid conflict each EA uses a magic number to identify trades it has placed or is managing. Set this number to avoid a clash with any other EA you may be running on the same account and for the same currency pair.

Trade Comment

This will be used as the comment against each trade placed by the EA

Trading

Maverick does not use entry or exit signals. Instead it is an always in the market EA and uses trade management techniques to bring trading positions to a profitable close.

Maverick can create large unrealised drawdowns but will continue to operate to bring those positions back into profit. However, as these drawdowns can become quite large there is always a possibility that the drawdown position will become too large for your trading account.

You should only trade Maverick with funds you can afford to lose and expecting some deep drawdowns.