Hello ALL ,
Well I have beed doing a lot of thinking over the weekend and I think I have the answer for a very good system for a EA .
This EA does not depend upon trend etc .. What I have made is a tunnel of sell and buy price and in a day
if that pair moves more that 8 - 18 pips in ANY direction after the trade is taken , we get profit I think this is
what we needed ... We always close the earlier trade and put a new one in the opposite direction .
We can refine it a bit but please let me know your thoughts .
Ok please see the attachment .. what I have done is
1. We buy and sell and buy and sell etc .... we double the lots as we go along .
2. The pips column that you see on the left side of Stop Loss column is that I have increased the pips as we go along of Stop loss to widen the tunnel as we go on to next trade as we dont want to put on many trade as we go along. Hopefully we will never go beyond 7 trades .. We can even widen the trades if we think that is needed .. But I feel this is fine .
3. The pips column that you see on the left side of Take Profit is increacing pips ot Take profit too ... we also need to add Trailing stop to all the T/P . So whenever T/P is hit we can make more money if it went on in that direction . So Trailing stop with every T/P is necessary .
4. Always ONLY 1 position will be trading and other will close immediately as you can see that after Stop Loss is hit , immediately next position opens in opposite direction . This will help us to keep margins in control .
What I am doing here is making a tunnel of maximum 15 pips between the Buy and Sell and when it breaks on either side form 8 - 18 pips in a day , it will take profit ...and I am very sure about this system ... I did some manual testing and it looks good .
Chalk it out on paper and you will see what I mean .
I await your feedback ... very excited about this
The Trades Are Described Here
Sounds Interesting - So thae take profit points are all preset?
after reviewing the attached files - they both look the same - is there any difference between the two?
They both are same files ... just posted them twice by mistake
Do the trades progress - or at which point does the cycle start over?
Yes I have added take profit points so when we have an EA it will be easy to calculate after we have the first entry price.
All trades are closed as new ones open up... but the lot size escalates like a martingale till... take profit is hit? when the take profit is hit - the system starts everything all over again?
After any of the listed trades hits T/P , it will start all over again from first trade again at the current market price .
Could you explain this system with chart to make it clearer?
Also, could you check this link https://www.mql5.com/en/forum/general
May be there is some similarities with your idea. Thanks.
The ea is also there. I am running it at the moment and it's still profitable but ... scarry