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 .
I think that limiting it to 4 trades is a good idea BECAUSE you are escalating lot size and it is always a good idea to limit that before it gets out of hand.
I think that this could work well... Great idea Tarun.
A curious observation is that the account would have probably not blown up if the loosing trades had not been closed.
AND - setting the trades up to cascade with a trailing stop loss offers the same type of advantages as escalating the lot sizes.
I wonder if you would want to leave the losing trades open so that they do create a hedge... at least for a portion of the position.
Also one could modify the rate of escalation - i do not think that it would have to be based on 2x. Sure doubling your position will get you into the profits quick but it eats up margin too fast
If you were to slowly increase lot size and leave the old trades open as a protective hedge you could catch a breakout and have 1/2 of your positions riding the wave with a trailing stop loss while the losing side gets stopped out as the breakout occurs. That way you could also sustain a much longer ping pong within a range before the account used up the margin.
What do you think?
I must make $1000 enough for an EA If we are using martiangle system, we can start with 0.01 lot, however with this system, it will be too small. That's why it needs to start from 0.1 lot. However, in real, I would only risk $1000 for a system and make sure the ea could make it. If later it seems to be stable enough, I will increase the money.
I am not sure what's my loss when it hit the stoploss. I just went out for a while, then when I am back, it's already ... BLAM
In my opinion, the most important thing is, how to get out when thing goes wrong, no matter how many maxtrade we use. But how? In martiangle system, I would do it by close it on break even where the reversal needed is not so large. But this system, since it open buy and sell, which is opposite to each other, how do we get the break even?
By the way, have you read about Icon Virus that attack forex factory. I think my laptop got it already
Actually, I am getting confused since there are two threads that talk almost the same thing and I am replying to both of them Please check
It talks the same thing, with slightly different idea.
Megalead, the one that you're talking about, for not closing the previous trades, is actually Harry's idea (check the first page). The only difference is just the lot size. At the moment, Azman is still building it. He will post the ea later in that thread. Maybe we should combine these two thread
Can someone you know help me to write this very simple EA for testing .
Position Lots S/L T/P
1 Buy .30 7 12
2 Sell .60 8 12
3 Buy 1.20 9 12
4 Sell 2.40 10 12
It should close one trade and then only open new trade and after 4th trade hits T/P OR S/L it should loop to first trade again and start all over again.
First trade will be always Buy at market price and the next trade will be Sell at first trades stop loss price and it will go on ... Please help me to find someone to do this quickly .
Tarun - Have you started to use the EA from the other Foruum The CrossX EA?
How do they differ from your method? Please explain.
I am agree with Megalead. Please try the CrissCross ea first. It works almost the same like you want. The only difference is just, yours increase the stop loss. The current version of CrissCross still deleting the lossing trade. At the moment, I think Azman (the creator of CrisCross) is working on Harry's idea, which carry all the trades before TP is reached. I am testing the latest version at the moment.
I am really interested with this method! So, this is what happend:
Remind me please how You trade Your method. I will test and will give You results right away!
You'll lose easily, here:
3lots Buy (goes againts You)
6lots Buy (goes againts You)
12lots Buy (goes againts You)
24lots Buy (goes with You)
+288-21-48 = + 219
With Spread? + 119 !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Can you give me the version again that is deleting the loosing trade .... I am getting confused here