My first trade model
Nice strategy, but I think my strategy is much better:
1) once the price reaches another significant low (the range of the qualifying swings is regulated by the EA's settings so we are not distracted by small price movements), open a long position using 100% of the available margin
2) once the price reaches another significant high, close the long position and go into the short one, once again, using 100% of the available margin
Here's why it's superior to your strategry:
1) We always invest all available funds hence we get the maximum return
2) The trades are made precisely on the pivot points of the price swings
What do you think? Anyone interested in coding this into an EA?
Nice strategy, but I think my strategy is much better:
1) once the price reaches another significant low (the range of the qualifying swings is regulated by the EA's settings so we are not distracted by small price movements), open a long position using 100% of the available margin
2) once the price reaches another significant high, close the long position and go into the short one, once again, using 100% of the available margin
Here's why it's superior to your strategry:
1) We always invest all available funds hence we get the maximum return
2) The trades are made precisely on the pivot points of the price swings
What do you think? Anyone interested in coding this into an EA?
I am interested. Please teach me. I am new in this environment :p
Jenn
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Hello all, i am new to FX trading, and became interested in it after doing some research on alternatives to stock market trade. I have a very simple trade model which i would like to program. The model involves the following steps:
1) examining the upward turn of a curve, and after a certain period of continuous upward turn(say 3-5 minutes) a bid is made for a certain percentage of my account balance which is determined based on my assesment of the currency trade, for example,
my account balance(AB) is 10000GBP
2)an upturn is detected in GPBUSD, so my algorithm uses all of the usable percentage allocated to GBPUSD trade(lets say 50 %) to buy Y dollars, where Y is the maximum dollars which can be purchased with usable account balance
AB=5000
3)i hold what i have until the gradient starts to decrease. As the gradient begins to turn horizontal, i begin selling stock(say 25%)
AB 2=5000+(0.25 x Ask Price at time of sale) ; Y=75%
4)At the first point of inflection, i sell till i have 50% of my initial buy.
AB3 = AB2 + (0.25Y x Ask price at time of sale) ; Y=50%
5)at this point, if the graph again upturns, the program kicks in and buys based on (1)
OR
if the graph downturns, based on the gradient of the downturn i begin to sell stock as long as the price continues decreasing at a rate proportional to its range from a minimum profit margin which i would have assigned to the trade( i believe this would be my stop loss value)
This model would be programmed into an EA which would operate on all markets.
i think this method could be described as a mix of scalping and hedging.
also if i could be directed to a thread or site where i could learn basic programming rules or templates that would be appreciated.
I look forward to my journey in the FX market and would appreciate any help.