V-Power Entries Via Button "Auto Entry"
The two buttons "Entry Auto" are especially created for those traders who can check the markets only sporadically during the day. The buttons are especially helpful for people who sleep and/or go to work anywhere between 0 GMT and 17 GMT, because the entry signal can occur at any time during this time span.
And this entry method is probably the one that you will choose in the beginning when you start using V-Power, because it makes a basic checking of 3 of the 5 rules.
If one of the "Entry Auto" button is activated then the EA will do a fully automatic entry for you if 3 of the 5 rules are fulfilled. The 3 rules that the EA will check are rule 3, 4 and 5.
The following screenshot highlights the 3 rules that are basically checked when a fully automatic entry is done by the V-Power EA:
You can find the details regarding the rules and a complete explanation of the system here: The V-Power Day Trading System
If you didn't download the free version of V-Power yet, then you can do it now:
Automatic Entries, Trade Handling and Huge Winners
You will now learn how the fully automatic entries are done and how you can handle the trades. You will also see how you can get big winners if the conditions of the bigger picture gives an additional edge.
The following screenshot shows the two "Entry Auto" buttons:
You can press one of the buttons when you spotted a good setup. The EA will then wait for an entry signal and enter fully automatically.
The "Entry Auto" button with the green background is used for buy-entries, the one with the orange background is used for sell-entries:
In our example chart we have spotted a sell setup. We expect to see the following price action (inverted V) and want that the EA enters fully automatically.
Therefore, we press the orange "Entry Auto" button:
The default configuration of the V-Power EA defines that the EA will open up to 3 partly positions. In a later article I will explain the configuration possibilities of the EA in detail.
From the following screenshot you can see that the inverted V-pattern occurred and that an entry signal was generated.
The EA has automatically opened the first partly position. The two red arrows label the entry price level of the additional 2 partly positions which the EA will open, should the price make a pullback before the target price gets reached.
In the next screenshot you can see that the price pullback back and the second partly position was triggered.
The target price for both partly positions are now moved higher. The distance between the target of the positions and the open price the last opened position is always the same. This distance is defined in the setting of the EA. I will explain these setting in a later article:
Here you can see that the price pulled back further and the third partly position was opened. According to the default settings the EA will open no more partly positions:
The target for all 3 partly positions moved higher again:
The default settings of the V-Power EA will produce a high winning rate because of the relatively small profit targets.
But you are free to move the targets with the mouse to any price level you want, if you spot a better price level for the target that makes more sense.
There is an even more automated way to place the targets for the partly positions. You can simply draw a trend line and give it the name "t". Then the EA will automatically set the targets to the price level of the trend line.
You may probably already know the highly profitable trading method "Steeper Trend Line Setups" for which the V-Power EA is a perfect fit.
If you don't yet know this trading method, then please read here: The Steeper Trend Line Method
In our example we can see a steeper trend line setup if we zoom the chart out.
We can then draw the base-trend-line of the steeper trend line method (remember: the base-trend-line can be used as a good target to exit the trade):
Then you right-click on this trend line and give it the name "t" as shown in the following screenshot. Confirm the box with OK.
The V-Power EA will now automatically set the target of the partly positions to the price level of the trend line. The targets will get adjusted with every new candle according to the trend line.
Imagine the automation possibilities that you have if you already draw the "t"-target line in the moment when you pressed the "Entry Auto". Then the entry AND the target settings are fully automated and will be done while you are at work or sleeping or whatever...
Now we are zooming in again, so that you can better see how the targets get adjusted (with time) according to the trend line which has the name "t":
The trade progresses and the targets get moved:
After the trend line is reached, the trade is over :)
More articles will follow during the next days/weeks. There are a lot of further great features to explain.
To your success! And Happy trading!