Maybe this will be very profitable and safe - page 2
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Hello,
it's a pity that there are not the performances on line
Btw, thanks Michel,...but i think the EA must have to modified a little cuz its a little diffrent from my strategy,..i'll check deeper for this EA,..thanks Bro..
What is different ?
Please look the attc, and please give your comment.
Please can you explain how you place the orders in real life. Especially with the higher lots, the spread will quickly eat up the profit? How do you guard against this potential problem.
Thanks
calling on sam1
hello sam1, hello sam1,
i'm trying to revive this thread solely for the reason of harryhid's document
which i think is worth its weight in gold
and your strategy which is similar - but may well be the refinement we have been looking for
this EA is just a tester to see how better your strategy is over harryhid's
let's test this out
if there's promise will the real programmers come and straighten this EA out.
cheers.
excuse me for not being able to attach the tester in the earlier post
fixing last major bug.
but i'm still confused about order open price for the stops - it is actually a carry over
from harryhid's EA - and i suspect this is the only reason why our tests on
harryhid's EA is not producing the results we had hoped for.
it should be posting in half-an-hour.
cheers.
and thanks for coming over.
The above strategy I presented, if use it as an EA is not a no-brainer EA. Some discretion neeeded to be lucrative. Here are some of the things that need to be considered.
- Trade with smaller lot size if your starting equity is low.
- Don't over trade. Don't trade many currency pairs at the same time. 1 or 2 pairs is fine. 3 pairs is a little risky. If you want to trade 3 or 4 pairs, lessen the lot allocation for each pair.
- Look for a trend first if you can. Trade that direction on your 1st position.
- Choose the currency pairs that has tight spread, 2 to 4 pips spread is fine. This probably are the major pairs.
- Make sure that the currency pair has a daily range of more than 70-80 pips moves.
- Better to place the trade just after broker deduct/add the swap (5PM EST) or few minutes before Europe session opens.
- Try not to leave trades open overnight. Added swap is good for us, but deducted swap might affect the profit. If there's open trades near market close, just leave it open, gain on next trades will offset few loss pips.
To anyone who wants to make an EA for this. Please include the function "close pending order of the same pair if an open position is closed manually".
but i'm still confused about order open price for the stops - it is actually a carry over
from harryhid's EA - and i suspect this is the only reason why our tests on
harryhid's EA is not producing the results we had hoped for.
cheers.
and thanks for coming over.That's very kind of you Azman. I finally got the EA, will test it next week.
Don't be confuse with the buy/sell stops price. It is the same as harry's but mine is 20 pips apart from each another while his is 30 pips. The MT4 will automatic deduct the spread once executed.
I guess the difference is harryhid's has 90 pips (30/30/30) range and mine is only 80 pips (20/20/40).
hey everyone
That's very kind of you Azman. I finally got the EA, will test it next week.
Don't be confuse with the buy/sell stops price. It is the same as harry's but mine is 20 pips apart from each another while his is 30 pips. The MT4 will automatic deduct the spread once executed.
I guess the difference is harryhid's has 90 pips (30/30/30) range and mine is only 80 pips (20/20/40).i was working on this strategy on lot of headges number on 5 and 10 and 20 but it is too risky and u should begin with 0.01 lot becoz noone knows how many time the price go up and down i use (0.01, 0.03,0.06,0.12,0.24....) and in a day it reaches 0.96 and i guess its too much in trading forex...also if u want try this headges :
tp=7 pips sl=14 pips headge=5 pips
tp=12 pips sl=24 pips headge=10 pips
tp=22 pips sl=44 headge= 20 pips
try it on 2 pips spread and all the trade will close together and u should use the lots= 1,3,6,12,24,48................
what sam put its very good too but i guess to make this strategy an amazing one we should know how to stop multiplying the lots each time we should know how to put the final lot even if this final lot will make us loose a little bit..but we should stop increasing the lots to make this strategy the best in forex..
You are right with your observation. The lot accumulation is the enemy of this kind of strategy, that's why in my instruction of use in post #19, I stated that we should start with small lot. Always remember that this is not a "get-rich-quick" system, but it will give you constant pips everyday. This is better than the freedomrocks hedging that I'm using on the side which more often than not will have to wait for days or weeks to get the same amount of profits.
The 5, 10 or 20 hedge on your post is the pips between both positions, right? In my experience, 5 and 10 is too tight which will cause large lot allocation over time. 20 is the safest for me. More than 20 will extend your trade time.
The lot progression using the original martingale formula is too risky. The 1, 3, 6, 12, 24 is also risky in my opinion. That's why I insisting of using 1, 2, 4,6,12,18 progression (which also kinda risky if not use it properly), it will reduce the lot allocation a little and give a same yeild. Good thing Azman were able to figure out how to calculate it for me. Next progression I will probably use is the fibo progression, I haven't tried it yet so I can't give any comment on than.
For now, I'll try not to tweak the system I presented here, and see how it goes. Special Thanks to Azman for putting it all together for us.
sam, that lot progression is sacred - anything less or anything more is not going to work
notice after level 2, it is double, and then one-and-one-half, and then double again, and then one-and-one-half,
and repeating all the way
this correspond to your tp/sl ratio that is alternating from 1:3, then 2:2, and repeating
this strategy may be safer than harryhid's - we'll see that next week
just to remind you about that order open price problem - can you go back
to criss73 thread and look at my post where i've attached image for trades
on harryhid's strategy that reach takeprofit at level 6 but brought losses?
- my order open price for levels 2,4,6 there is missing the spread factor - that's why it did not profit
your EA is also having the same codes; we'll have to fix this minor error once we start testing Monday
cheers.