How to set up a grid
Grid trading is much more profitable and safe if grids are allocated and configured manually by a responsible trader. To set up a grid, just follow the next steps.
1. Choose the direction
If the market is close to a strong support you might want to start a buy grid and the opposite for a sell grid. If neither situation is present, you might want to start a bidirectional grid.
2. Choose the grid size, price range and lotsize
Enter the desired grid size, price range and lotsize into the expert advisor. The EA will calculatet the grid spacing for you. For live trading, a spacing somewhere between 50 and 200 pips is recommended. Choose the grid size and lotsize in such a way that the total exposure is never more than three times your account equity and the grid range covers at least until another strong support or resistance level.
3. Choose the take-profit for the grid
Setting a take-profit is not recommended unless the swap costs are high, thus making cost-efficient to restart the grid fresh regularly.
4. Start the grid
Once the settings are loaded and correct, trigger the first order of the grid by enabling the grid in the expert inputs. Buy grids are started enabling the Enable BUY Gridparameter. Likewise, sell grids are started enabling the Enable SELL Grid parameter.