I am using default setting, SL=20 TP 30 and $1000 deposit. But the last possible trade could be opened is only 0.8 (4th level) and I was so worried at that time. The ea at Criss thread close all losing trade, so when I was at 0.8 lot trade, my balance is quite smaller Scarry mate Btw, I also closed the trade manually
I'd like to get more feedback on it - In the meantime I'll start to run the EA you are with your settings and one with lower settings and see what happens... see how the trades are placed compared to this earlier description.
I have also been a long fan of 10points3 systems but they have bit me sharply when i took it to a live account. I like how they put on profits and turn bad trades into good ones - but there is always that one time where your 5 trades down and news comes out against you...
This system does not seem to be susceptible to that - actually the breakouts of any sort would close for a profit.
Yeah, the regular 10P3 gives us a yummy profit and after we are full and get greedy, the "time" will come to eat us and we won't be able to escape by that time. We need to be very careful with martiangle system. Just like what david's suggestion in his V12, we should take out the profit and put it in a safe place where broker couldn't touch
Back to this thread. This system also the same. Most of the time, maximum level that it will reach is about 5. However, there is "a time" it goes up to 7, 8 and so on. That time comes when market is really ranging in our channel. As in my idea last time, we carry the trade of each progression (Harry's system). Then, after certain point that we think dangerous, we should close the trades at their own break even level (up level & down level). However, the risk is, if by the time we close them is actually the time of the price breaking for profit, well ... we are in big trouble Anyway, there is always gambling factor in this kind of system ... and forex ... and stock ... whatever
So ... what do you think?
May be we can add a volatily detector in th ea. Also, an exit strategy if things goes wrong.
May be you guys might want to try FPI ea. Sometimes it is good for "never loss" strategy Here is the link:
I need this simple EA done ...Please check the attachment . Can anyone help me asap .I think for a pro it is an hours job . I have changed a few things from orignal posting and I will give reasons why .
Ok What I have thought today is as follows :
1. The reason I have stopped at 4 trades is because I dont want to risk much margin in any situation . The maxmimum I can looses is 79 pips if the market goes against all trades.So I will book my losses and start all over again and again and again. I think it is better than putting on more trades .
2. When the 4 trade stop loss is met I want the same process to start all over again from first trade.
3. This EA does not have to follow any chart OR any indicators.
4. The reason I have kept the S/L so tight is because I want it to put on more trades fast and hopefully break away in any direction . I will try with these settings and maybe accordingly we can change it later.
5. We can run this EA on multiple pairs , specially that are volitile and should avoid flat markets OR flat pairs for the day .
6. Please let me know if 4 trades is too less and should we add a 5th one of 1.60 ?
Will post more comments soon .
Wibitiens , Megaleads,
Please let me know your comments if we should add a few more trades ?
Is it not better to start again once the .80 stoploss is met ( .10 , .20 , .40 , .80 TOTAL : 1.50 ) rather that putting on the next trade of 1.60 ? I hope you understand what I am trying to say . Please let me know your views .
You're right that we have to limit the trade to 4 only. However in many instant the trade want to go more than that. Like I said before, instead of limiting the max trade, we should also consider the appropriate SL and TP size and finally think how to get out when thing goes wrong (this is the hardest part).
Anyway, I just blew up my demo on Criss Cross EA. One of the trade progress: 0.1 - 0.2 - 0.4 - 0.8 - 0.16 - BLAM!!! I lost most of the money
Please have a look at the chart (nice one ), especially, and the statement. This so serious Need to think very well.
it would appear to me that the best time to run this is when the bollenger bands become very narrow. The tighter the Bollenger Bands get usually the more volatile the breakup or breakdown becomes. It would seem that the Take Profits and Stop Loss levels are very crucial to the success of this system - making sure that a small range will not escalate your trade up too rapidly from a ranging market between your TP & SL. The TP & SL need to be placed significantly outside the BB. That way when a breakout occurs - it is right there to take the profits.
Sorry you blew up your account. Good thing it was only a demo. however - 1,000 is not enough to put into an account when you trade with escalating lot sizes.
I am wondering, if you had limited losses to 4 trades - what would your losses have been at the point of stop loss? and would you be able to close enough profitable trades between hitting the stop losses in order to run the system for a profit?