I have a strategy that is very hard or impossible to trade manually so I need a help to create an EA for this strategy.
So, you open first trade, for example, buy with 0.1 lots, TP 10p and SL 35p. If this trade gets profit,then open sell position with 0.1 lots with the same settings.
If trade ends with SL whitch is 35p, then open new position same direction (buy) with 0.4 lots and same TP 10p, SL 35p.
Every time trade ends with SL expert should open new position in the same direction with four times biger lot size.
Maybe somebody can write something like this?
This looks like a very interesting way to trade. Did you try it manually.
I agree it will be very difficult to babysit the system? Any performamce record or experience to share. I very much wish some of the programmers in this forum will take a serious look at this trading method and create an expert. Thanks for sharing.
Please try this!
Only one quesion left in my mind! Is it a gambling? (I do hate gambling)
Thanks a lot Codersguru!!!
No, this is not a gambling, it's just a way how to get profit without using bigger TP after you get SL.
I have tryed to trade like this manually and results are great, but the problem is that I need to be at my PC all the time.
Codersguru, there is one thing with x4. When it gets SL with 0.1 lots it should open with 0.4 and if it gets SL one more time it should open with 1.6 lots and so on. Now it just opens with 0.1 and 0.4 lots.
Can you please fix this?
I like to share my experience on testing this strategy. Next loss 6.4 lots, after that 25.6 and 102.4 lots . Even with big capital ( or micro lots ), the profit achieve is not quite significant with the capital, mean your return is quite small compare to the starting capital. Just my two cents
Thats why you have to make an analysis and use best SL and TP proportions. I never had more than 4 SL in a row. This strategy can get more than 0.5% per day. To avoid more than 3 SL in a row you may not trade during US session with big moves and so on.
Try it mnaually and you will see. Many traders after SL trying to get bigger TP, but it is to hard to get 40p TP than same 10p with 4 times bigger lot size.
Hi manager, thank you for the suggestion. I will try to apply a time filter to the strategy. All the best for everyone
Any forward results out there? (Don't trust backtesting anymore)
There're missing different Lot size for 3rd and 4th trade. So, 1st is 0.1 Lot, 2nd is 0.4 Lots, 3rd should be 1.6 Lots and 4th should be 6.4 Lots.
Please make it if you can!
Can you make it as without closing at the end of day.
Right now while I am running it is closing at the end of day.
Is there any way to not to stop the EA without prompting by user.