The Position Trader EA
2 Auto-trading systems built In: RSI or ADR mean reversion
Scale in and out of swings, adjusting your entry price as markets move
Turn losing mean reversion trades into winning position trades!
Can trade on any timeframe or instrument you choose
Risk auto calculated based on percentage or fixed lot size
Automated drawdown control to reduce risk on losing positions
EA can manage trades you take with its built in buttons
Get the best trade execution with this EA at
DOWNLOAD THE EA TO USE IN THE STRATEGY TESTER!
Try the EA out in the tester then get your licence for MT4 or MT5.
BUY THE EA & start trading on your live or demo account today!
Fully functional version to use in live or demo trading!
NOTE: MT4 is being phased out gradually so it is recommended to get the MT5 version if your broker supports it to future proof yourself. 😉
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Version 2 Update!
Now includes 3 signals for entry!
Moving average, market reversal alerts or 3 bar reversal patterns.
On top of these new signal types you can now also use stop loss based strategies and there is new improved logic for single daily entries on RSI or ADR, perfect for those scalping intraday price movement!
Watch the video to see the new features in action >>>
One EA – Two Strategies – Unlimited Potential
Most traders would love to have just one consistently profitable strategy.
Position Trader EA gives you two of the most effective and popular
mean reversion strategies traded for you using institutional Dollar Cost Averaging techniques
Multi Timeframe RSI Mean Reversion
- The EA monitors the market you place it on for strong moves in one direction using the RSI indicator on any timeframe you select.
- Using a moving average cross on a lower timeframe to detect strength in the opposite direction, the EA enters an initial trade.
- If the trade works, the EA will automatically close it in profit at your target.
- If a trade goes against it, the EA will scale in automatically based on the average daily movement of the traded instrument to adjust your entry price.
- Once a new swing in your favour is detected, the EA exits all trades in the position in profit.
- If a single trade in a position gets too far into drawdown, the EA will automatically scale out of the trade and take small losses on the account.
ADR (Average Daily Range) Reversals
- The EA monitors the market you place it on for intraday moves beyond the normal daily range.
- It then waits for a signal to enter based on strength forming in the opposite direction to the initial move on either M5 or M15 timeframes.
- If the trade works, the EA will automatically close it in profit at your target.
- If a trade goes against it, the EA will scale in automatically based on the average daily movement of the traded instrument to adjust your entry price.
- Once a new swing in your favour is detected, the EA exits all trades in the position in profit.
- If a single trade in a position gets too far into drawdown, the EA will automatically scale out of the trade and take small losses on the account.
DOWNLOAD THE EA TO USE IN THE STRATEGY TESTER!
Try the EA out in the tester then get your licence for MT4 or MT5.
BUY THE EA & start trading on your live or demo account today!
Fully functional version to use in live or demo trading!
Have you seen the EA Bundle!
BUY EVERY EA & SAVE 50%
Get the whole collection of expert advisors
on the platform of your choice!
Get the best trade execution with this EA at
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To Enlarge!
WHAT THE POSITION TRADER EA DOES
The EA will automatically scale into market structure moves using “elastic band theory”, mean reverting moves taken by the banks and institutions.
There are two built in strategies that use either the RSI indicator or extensions of the average daily range (ADR) of any forex, commodity, stock or index you want to trade.
Position trading is a method of entering the market using small risk and multiple trade entries, meaning the accuracy of the initial trade entry is less important than the way the trade is managed by the EA after entry. Markets are unpredictable and virtually impossible to time movements in with any kind of accuracy that is sustainable long term. Because of this, the majority of trading strategies and traders fail, due to being constantly stopped out before their trade ideas play out correctly.
Position trading with this EA solves that problem by altering your initial entry price if it is incorrect, using dollar cost averaging techniques employed by most banks and professional trading institutions.
You can also convert virtually any mean reversion strategy you currently trade or have traded in the past into a position trading strategy by simply taking an initial market entry using the quick trading buttons on the EA. Once this initial trade is taken, the EA will then either auto close the trade when at a designated profit level or turn the trade into a position trade by scaling in on the next leg of the market structure move for you!
Why you should be position trading
Here’s how the position trader EA can help you become a better trader
and DRAMATICALLY improve your profitability
Proper Risk Management
Every trade taken with the position trader EA is based on a fixed percentage risk of your account to keep the drawdown low. You can also choose to over-ride this and use a fixed lot size instead.
Increases Your Patience
Trading with the position trader EA automates your entries to ensure you are only taking trades in line with the strategy, stopping you over-trading.
Removes The Need For Accuracy
Position trading does not require laser precision, which most traders struggle with. Scaling into trades on market movement increases strike rate and profitability, making you more consistent.
Adjust Your Price AFTER Your Entry
Scaling into trades with DCA techniques, used by major banks and trading institutions, is a time proven way to extract money from the markets. Adjusting your entry for a more favourable price as your positions play out over time.
Automated Drawdown Control
Performing drawdown control on trades that go against you at strategic points helps to keep losses small and allows your positions time to play out. This controls your risk over time and increases your strike rate for winning trades.
Realistic Targeting Based on ADR
Targeting, based on ADR (average daily range) or percentage return based on risk, ensures position trading can make money by using achievable targets. No 15:1 risk reward ratios, just extracting money regularly from normal market movements.
Trade Like Institutions & Banks
Banks and trading institutions have been position trading and using DCA (Dollar cost averaging) techniques for decades. It’s how money is made, so basing your strategy on this technique aligns your goals with the market makers.
Flow With The Markets Movement
All markets ebb and flow randomly. Attempting to find accurate entry and exit points in a random instrument is like trying to shoot a jet with a pea-shooter! Position trading allows you to work WITH the market, extracting money, not try to force it to do what you want it to!
DOWNLOAD THE EA TO USE IN THE STRATEGY TESTER!
Try the EA out in the tester then get your licence for MT4 or MT5.
BUY THE EA & start trading on your live or demo account today!
Fully functional version to use in live or demo trading!
Have you seen the EA Bundle!
BUY EVERY EA & SAVE 50%
Get the whole collection of expert advisors
on the platform of your choice!
Get the best trade execution with this EA at
LET'S GET SOCIAL!
Join the Telegram or Discord servers
Get EA set files, strategies, free education and advice!
Position Trader EA Feature Spotlight
Have a closer look at the inputs and main features & functionality of the Position Trader EA.
Discover how flexible and the powerful it can be for your trading
Risk Management Options
Choose to use either a fixed lot size, a percentage of your account balance or a set amount of money as risk parameters
Spacing & lot multiplication
Learn what spacing options are available between trades in a position and how you can multiply lot to increase profit
Multiple Exit Target Options
Select a different target for single trades and multiple trades, choose to target money, percent gain or distance
Auto Drawdown Control
Automatically scale out of single trades or complete positions if it doesnt work out and control risk and drawdown
Aggressive DD Control
Use a high risk / high reward entry during positions that sqeeze hard to get out fast with a breakeven or huge reward
RSI Strategy Tuning
When using the built-in RSI strategy, you can fine tune the criteria for entry that suits you
ADR Strategy Tuning
The ADR reversal strategy inputs allow you to pick an intra-day extension of ADR that you prefer to use
Auto Trading Times
Select when the EA will monitor and enter new trades for you. Filter out high spread times or select individual sessions only
Time Based Exits
Close out trades after a set amount of time passes if the trade has not achieved target or on Fridays to avoid weekend holds
Button Trading Feature
Use the built-in trading buttons to quickly enter or exit trades at your discretion. Excellent to automate your own strategies
Entry Signal Options
Select the entry signal criteria based on any moving average, market reversal alert or 3 bar reversals depending on your strategy
Overnight Swap Filter
For swing traders, swap costs are a major concern. Trade only in the direction of swaps that will not cost a lot to hold
Real Traders Using The Position Trader EA
Discover what other people using the EA think about it
ywillems
This farmost the best EA i've ever used. Not a "set and forget" EA, but defenitly profitable. I'm using this EA now since 3 months and experience a average profit of 25% monthly with an overall DD of max 28%. My settings are rather conservative with a 0,5% risc and 0,25% and 0,35% TP (singel and multiple position respectively). I don't use automatic DD control but i "trim" the open positions in DD as soon as the number of open positions exceeds 3 (thus starting from 4 and above). I use the EA for all the forex pairs as indicated in the EA description (no JPY a,nd CHF). Good job!!
Mark Vains
So far so good still messing with the setting but definatly a robost and adaptable EA. Some set files used by the users might be helpful to see how ppl opearate this EA. I intend on posting some set files in the comments after testing .....Good Job well thought out and executes smootly what it says it does
Petr Kolar
State of the art EA. Thank you Lee.
Hassanien Saleh
Very nice EA by Lee....thank you
TYoung6610
I have been trading the Position Trader EA for four full weeks (demo), starting on 9/9. My results have been incredible. I currently have a 42.48% gain with a maximum 12.9% drawdown, which recovered fairly quickly. I am aware that I entered into a favorable market condition for the EA and that this will not happen every month. My risk may be too high, but I can easily adjust that, and would be very happy to have a much smaller percentage gain than 42.48% a month. Lee is a great teacher and programmer. I highly recommend that you check out his methods and products.
Steve Algeron
As usual Lee comes up with an absolute state of the art and totally unique EA. This is not for the get rich quick lambo boys, but if you want to increase your funds whilst learning how to trade the forex markets the right way, then this EA is for you. Check out Lee's other EA's and Indicators most of them are on every chart i trade. Thank you for your efforts in creating this wonderful tool, and thank you for sharing.
You are a star.. in fact Lee, you are the DB's!
Wilhelm Niebuhr
Absolutely brilliant and a very safe EA to run with an aggressive EA on same currency pairs with different time frames, rectifying errors of the aggressive EA. Genius piece of work.
Simba Finance
Excellent EA. Lee's support is great as always, and he's using the same tools every day on the livestreams.
Piorian
I am impressed with Lee's support and ability to build EAs if used properly and you watch and read the documents they work, It's the only EAs and indicators I use on my charts, thank you, Lee, for all the help and support you are truly one in a million
HOGJoerch63
I bought the EA last week, still testing it but with a real account and small money. I am really impressed because it works very well so far and you can also launch some manual orders. The EA will also manage them to a good result. I also insert the market reversal alert indicator in, to add some orders. Many Thanks Lee
Gary_mccrud
Great EA, well tested and robust strategy. Very good user support, developer streams live most weekdays.
Robert
Treasure in the forex world with great daily youtube support. Thank you Lee.
DOWNLOAD THE EA TO USE IN THE STRATEGY TESTER!
Try the EA out in the tester then get your licence for MT4 or MT5.
BUY THE EA & start trading on your live or demo account today!
Fully functional version to use in live or demo trading!
Have you seen the EA Bundle!
BUY EVERY EA & SAVE 50%
Get the whole collection of expert advisors
on the platform of your choice!
Use A VPS So Your EA Is Always Monitoring For New Trades & Managing Existing Trades Correctly!
It is recommended that when auto trading with EAs you use a reliable VPS (virtual personal server) to run your trading terminals.
Watch the video to see how to setup this EA on a VPS, a good VPS provider is linked below for you.
Main Functionality:
- Fully automated trading of RSI based mean reversion strategy.
- Fully automated trading of ADR based mean reversion strategy.
- Settings to fine tune each of the above strategies based on your requirements.
- Simple, configurable entry condition using any moving average to trigger trades when strength is detected in the direction the strategy will trade.
- Manual trade buttons to take initial entries or place manual additional trades in any existing position.
(Use these to trade any strategy and let the EA automatically turn trades that don’t work into position trades). - Perform automatic drawdown control (scaling out of losing trades) as they hit specific percentages in drawdown on your account.
- Perform aggressive drawdown control (full size trades with stop losses) when your total position hits a specific percentage of your account in drawdown.
- Total control over the minimum distances between trades in each position and the lot size increment (if required) for additional trades.
- Risk auto calculated based on percent of your account size or a fixed lot size.
- Individual exit targets based on a percentage of your account for individual trades, positions in a single direction and all trades open on each instrument traded.
- Trade time filter to ensure no trades are taken during swaps where high spreads occur.
- Can trade on any timeframe using the RSI mean reversion strategy (M5 timeframe recommended for ADR strategy)
EA Functionality & Logic:
The EA monitors the market for extended conditions on RSI or ADR depending on the strategy you are trading and will then, once the conditions for a trade are met, monitor the timeframe it is running on for an entry into the market. The entries are all taken using a moving average on the timeframe the EA is running on. e.g. if you run the EA on the M5 timeframe it will take a trade when the price closes above or below the MA you set in the inputs on that timeframe. The moving average entry logic is that price needs to open above the moving average and close below it to take a short entry and the opposite for longs. The EA monitors the last candle closed. When a trade is placed the EA will then auto calculate a level above shorts or below longs based on average daily range and get ready to add additional trades if price exceeds this level. The lot size of the next trade is also auto calculated by the EA, this level and the lot size are determined by the inputs you select. The EA automatically monitors the current profit and drawdown of each trade and the total position (all trades in the same direction) and will automatically close either complete trades or partial size based on the inputs for drawdown control and profit targets.
Recommended Setup For The EA:
The strategies for the EA was developed on forex markets as they have a very rhythmic movement and market structure is often clearly defined so you should be able to run the EA on any forex pair, but any other instrument will also work so test!
As with all EAs it is advisable to have the EA running on a machine that is left on 24/7, so the EA can work constantly and monitor the market for you. It is recommended to run the EA on the M5 timeframe for the ADR strategy and if you are trading using RSI it is advisable to also use M5 or M15, assuming you are monitoring RSI levels on the H1 and H4 timeframes. The EA enters the market using a moving average as the entry signal, and that is on the timeframe it is running on. Bear in mind, if you set the EA to manual mode where it uses the trading buttons only, it will still manage any entries you take with the buttons on the version of the EA running on your VPS/trading PC. Run each strategy you trade on a separate terminal and separate trading account, so the EA doesn’t get confused with multiple entries using multiple strategies on the same account/terminal. This is best practice for all trading.
My setup: I have multiple terminals running on my own VPS, each terminal is logged into a different trading account and each account is only running one strategy. This way I know exactly what is and is not working at any time. Each terminal has every chart I want to trade one (all FX pairs in my case) and the EA is set on each chart on the M5 timeframe and will auto enter for me based on RSI or ADR depending on which account it is.
On my trading PC that I use for analysis in my office I also have the EA running on a chart but set to “button trading only” mode. This means I can manually add trades into a position and then the EA running on that chart on my VPS will take over, adjust the next entry level and lot size for me.
LET'S GET SOCIAL!
Join the Telegram or Discord servers
Get EA set files, strategies, free education and advice!
DOWNLOAD THE EA TO USE IN THE STRATEGY TESTER!
Try the EA out in the tester then get your licence for MT4 or MT5.
BUY THE EA & start trading on your live or demo account today!
Fully functional version to use in live or demo trading!
Have you seen the EA Bundle!
BUY EVERY EA & SAVE 50%
Get the whole collection of expert advisors
on the platform of your choice!
Get The Indicators & Dashboards I use
The indicators are all available direct from your MT4 or MT5 platform in the market section. Alternatively, you can get them on the MQL5.com website!
The Market Reversal Alert Indicator
The key to the strategy is knowing when price is starting to turn and change direction. This indicator draws in market structure for you, then sends you an alert so you can take a look at your charts and see if there is a valid reason to enter a trade.
The Market Reversal Alert Dashboard
This amazing dashboard monitors the major time frames and all pairs you trade and alerts you instantly when a potential reversal happens. No more staring at charts all day! Every pair and key time frame in front of you in one MT4 window. Priceless.
The ADR Reversal Indicator
The ADR Reversal Indicator shows you at a glance where price is currently trading in relation to its normal average daily range. You will get instant alerts via pop-up, email or push when price exceeds its average range and levels above it of your choosing.
The ADR Alert Dashboard
The ADR reversal dashboard allows you to monitor every pair or instrument you trade in one dashboard. You’ll get alerted every time something exceeds your set ADR levels and ensure you will never miss an opportunity.
The Trade Manager Dashboard
Take control of your forex portfolio. See instantly where you stand, what's working and what's causing you pain! The Trade Manager Dashboard is designed to make risk management and exposure to currencies easier to understand.
The RSI and TDI Alert Dashboard
The RSI / TDI alert dashboard allows you to monitor 6 main timeframes (selectable by you) at once on every major pair you trade. The dashboard will alert you to extended conditions (overbought and oversold) when a candle closes on the chosen time frame.
Symmetrical Triangle Pattern Indicator
Profit from market contraction and consolidation after price makes new highs or lows in the market. Get alerted when a contraction is happening, ready to pounce on the next continuation or reversal move that is building up.
Symmetrical Triangle Pattern Dashboard
Get alerted and see instantly when any instrument you trade forms a symmetrical triangle pattern on any time frame. Get ready to pounce on those triangle breakouts!
Opening Range Breakout EA
Profit from the explosive moves that occur at the open of stock indices and give yourself an actionable edge every day. The opening range breakout EA can be tweaked to your liking to capture the trends that form just after the open every day on the main stock indices like the DAX, DOW, NASDAQ and S&P500.
The Market Reversal Alerts EA
Based on the indicator, this EA will auto trade signals generated from the market reversal alerts indicator. It has powerful filters to configure as you like to trade including ADR, MAs and RSI. You can also use it to basket/grid trade, and it has every risk option you can imagine.
The Price Action Toolkit EA
The missing piece of functionality in MT4!
Fast order buttons to quickly enter, adjust and exit positions and scalp with lightning speed. Get price action candlestick alerts on the most commonly traded patterns and auto execute entries and exits based on your preferences.
Support, Resistance & Propulsion Gaps
Automatically draw support and resistance levels PLUS propulsion candle gaps on your chart, so you can see where price is likely to head next and/or potentially reverse. This indicator is designed to be used as part of the position trading methodology taught on this website and displays key information for targeting and potential entries.
Stock Index Hedge EA
Take advantage of the opening volatility of the major stock indexes and profit from the sudden moves created at those times when the market breaks away at the opening bell. The strategies’ goal is to simply benefit from those days when the market moves fast and hard in one direction at the open and bank that move.