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1 strategies and tactics for Trading Automation

What is Trading Automation strategy?

Every great achievement starts with a well-thought-out plan. It can be the launch of a new product, expanding into new markets, or just trying to increase efficiency. You'll need a delicate combination of strategies and tactics to ensure that the journey is smooth and effective.

Finding the right Trading Automation strategy can be daunting, especially when you're busy working on your day-to-day tasks. This is why we've curated a list of examples for your inspiration.

Copy these examples into your preferred tool, or utilize Tability to ensure you remain accountable.

How to write your own Trading Automation strategy with AI

While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own strategies.

Trading Automation strategy examples

You will find in the next section many different Trading Automation tactics. We've included action items in our templates to make it as actionable as possible.

Strategies and tactics for creating an MT5 Expert Advisor with Engulfing Pattern Entry

  • ⛳️ Strategy 1: Define requirements and gather resources

    • Identify the specific currency pairs and timeframes for the EA
    • Determine position sizing and risk management rules
    • Gather historical data for the chosen currency pairs
    • Study algorithms for detecting engulfing patterns
    • Research MetaTrader 5 MQL5 programming language
    • Download MetaTrader 5 and set up a demo account
    • Find existing EA code samples for reference
    • Review examples of engulfing patterns in price charts
    • Ensure you have a reliable internet connection for updates
    • Create a folder to organise resources and research materials

  • ⛳️ Strategy 2: Develop the EA in MetaEditor

    • Open MetaEditor and create a new EA project
    • Program the EA to scan charts for the engulfing pattern
    • Implement entry logic to open trades based on pattern detection
    • Incorporate risk management with stop loss and take profit settings
    • Enable trade management functions like trailing stops
    • Include notifications for trade actions
    • Test the EA using Tester in MetaTrader 5
    • Validate accuracy in engulfing pattern detection
    • Debug and optimise the code for better performance
    • Document code, logic, and any assumptions made

  • ⛳️ Strategy 3: Backtest and optimise the EA

    • Select a range of historical data for backtesting
    • Run backtests on various timeframes to evaluate performance
    • Analyse results for profitability and reliability
    • Adjust parameters and logic based on backtest outcomes
    • Ensure the EA is diverse in market conditions
    • Test the EA on a forward test environment using a demo account
    • Monitor trade executions and patterns accuracy
    • Refine based on forward test performance
    • Ensure compliance with any broker rules and regulations
    • Prepare the EA for live trading deployment
trading-automationengulfing-patternsoftware-developerquantitative-analystdevelopment-teamtesting-team
Implement these strategies

How to track your Trading Automation strategies and tactics

Having a plan is one thing, sticking to it is another.

Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to keep your strategy agile – otherwise this is nothing more than a reporting exercise.

A tool like Tability can also help you by combining AI and goal-setting to keep you on track.

More strategies recently published

We have more templates to help you draft your team goals and OKRs.

Planning resources

OKRs are a great way to translate strategies into measurable goals. Here are a list of resources to help you adopt the OKR framework:

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