How many times did it happen to you that you made a good profit in trading e.g. in the morning, but everything that was won in the morning, got lost in the afternoon when the market changed or when the 3-star-news turned up.
How many times was your account in an "equity plus" situation, but you did not take the profit because you were working or not in front of the computer or somehow busy and then the market turned and everything that was won disappeared again, because you never noticed about the positive situation.
Earning with trading has a lot to do with stopping at the right time. Stop if it is enough. Stop before the wind changes and everything is lost again. As we said before. Rich comes from keeping.
So, what if you would define that you want to earn let's say 50 bucks per day. If the 50 bucks are there, the system should keep it, switch off Autotrading and simply stop trading. Keep your 50 Dollars or name it 100 or 500 or whatever you like and whatever you can afford in taking risk during the trading. It is a good idea to define a target and not simply trade into the day without an idea of what should happen. A target is a strategic marker that every trader should have and look at.
A 50 bucks target doesn't sound very sexy in the first moment, but if you can somehow automate it, it will be a lot of money over time. It's surreal that you win every single day, but what if you can do it ten times per month or 12 or even 15 times, then for sure it will get more and more interesting.
So the system is trading for you Gold/XAUUSD or Forex/EURUSD or whatever you like. This is being done by a trading expert-advisor like PowerScalper or your own existing trading bot. So the bot opens long or short positions acc. to it's trading strategy and hopefully wins those positions and closes them down for you to secure the profit.
The DNPT (Dynamic Net Profit Taker) is a functionality of the Monitoring & Control Expert-Advisor. It is a dynamic stop who sits there for you the whole night or the whole day and monitors your account. While the trading bot is working, the DNPT in the control bot is watching.
Let's say you have set a target of 100 Dollars that should be achieved during your trading session. Your trading bot has already earned 78 bucks to your account, so 22 are still missing to achieve your today's target.
The trading bot has still two long positions open that are in a drawdown and the trading is running. Green and red candles are changing all the time, drawdown is getting bigger or smaller.
The best thing now is that you don't have to sit in front of the PC since the DNPT is watching your target. Over time we receive a small reversal in the trend, the green candles are getting longer, drawdown slowly disappears and the two open positions run into a plus situation.
The trigger of the DNPT was set to 105 Dollars and the distance was set to 5 Dollars in the configuration menu of the Monitoring+ Control bot.
This means that the DNPT, which is a kind of trailing-stop is being triggered and activated when the already achieved positions (78 USD in your today's account) plus the sum of the two open positions result arithmetically in 105 USD. So at the moment that a constellation appears in which the two open positions are together 27 Dollars in plus the trigger of the DNPT is hit and activated.
Now let's say, the green candles get even longer and the plus of the two open positions grows from 27 to 35 USD. This would mean that we would be now arithmetically at 78+35=113 USD.
At this moment a reversal turns up small red candles arrive and price starts to sink again. The DNPT is following this and now monitors the distance of the change.
When the price sets back for 5 USD the DNPT closes ad-hock both positions and secures a total daily profit of around 108 USD in total.
Nice move: The DNPT switches Autotrading into OFF mode, so that no new trades can't be opened by the trading bot anymore, as long as the Autotrading is not being switched back to on again. Remember: Rich comes from keeping.
This way we secured a daily profit of 108 USD today that pays in to achieve our monthly target.
Very good if you have a partner like your new friend DNPT who is watching for you all day long that you can achieve your target in the moment that the market gives us the opportunity for a short moment. That's when the DNPT does his wonderful work and secures the money.
Disclaimer:
This is not an instruction manual, but merely an explanation of how the software works. As the manufacturer of the software, we want you as a user to better understand how the software works.
We are not saying that you should use this functionality with real money. Think very carefully about whether you want to use the functionalities mentioned in the text at your own risk and what risk you are taking.
If you decide to use these functions with real money, you should have tried out how the whole functionality works and what can happen with a demo account for a sufficiently long time beforehand. This is the only way to learn to independently assess the real risks and potential profits.
This is absolutely necessary in order to deal with the risk with foresight. As the manufacturer, we accept no liability if money is lost at the broker due to the functions mentioned in the text. The above-mentioned functions of our software offer you excellent opportunities to make profits, but with the acceptance of the risks that the markets always present.
Every PowerScalper license offers one demo and one real trading license to you. This is our contribution to you, so that you can learn to trade riskless as long as you want, before you are using real money.