PEOPLE THOUGHTS ON THIS IDEA?

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Hi,
I have a system which I will do my best to describe.
EXAMPLE
When a BUY trade is placed manually or via EA, another EA places buy limit order at a set distances below doubling the limit orders size every time.  So if price starts falling these orders will get filled as it falls.
This EA has a profit target in $. When the total profit of all the orders that get opened adds up to this $ amount, then all those trades will be closed and limit orders deleted, therefore making a total profit, as the price wont have to go back up a whole heap to make a profit. 

I am still in the testing stages but so far looks promising. The only problems I am having is trying to find the right settings as to have enough margin the cover if the larger pending orders get hit and also how far apart in pips to have the pending orders.
Has anyone got any suggestions or improvements to this, all I can think of is to include a available margin check so if it does get a bit low it will not open any more trades at all.

Thanks in advance.
 
Brendan:  below doubling the limit orders size every time.
  1. A variation on Martingale; guaranteed to blow your account sooner or later.
  2. Next time DON'T SHOUT AT US in your title.
 
whroeder1:
  1. A variation on Martingale; guaranteed to blow your account sooner or later.
I agree, Martingale can work well until it doesn't, then it destroys your account.
 
Keith Watford:
I agree, Martingale can work well until it doesn't, then it destroys your account.
Thanks for your opinions. It seem to be great even on backtest. But It just takes that one time then it might be in trouble as you said.
 
The only problems I am having is trying to find the right settings.
There are no correct settings. Don't strugle with it too much.
Is only if your timing was right,which you only find after your account is blown or not.
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