Toward successful grid trading....modification of this expert.
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I used to trade trend mainly...but sometimes when the market is range bounding between two points, it is the time for grid trading.
the main disadvantage for grid trading is WHEN TREND STARTS!!!
SO.... I think it is better to predetermine a point where you will get out of grid trading.... or you will end licking your wounds, if you stay alive!.
This expert is good for grid trading during range times... it can accumulate 100,s of pips if you are lucky....but if we can do these modification, it will be more good:
1- to add 2 points for sell: "variables"
- not to sell above: 1.6000
- not to sell under:1.5800 " leaving price as 0:00 means ignoring this variables"
explain:
a- if we choose "not sell above" to be 1.6200..this means the expert will not open sell orders above this price... if the market exceeded this price our expert will stop trading...
b-if we choose not sell above 1.6200 and let" not sell under" blank"0:00"...this means our expert will not trade if the price exceeded 1.6200... but will sell as the price is going down....
c- if we choose to " not sell above" to be 1.6200, and " not sell under" to be 1.5800....this means our expert will trade between these two point only...
2- THE SAME POINTS TO BE REPEATED FOR BUY
3-all grid experts that i met put points of trading depend on similar methods...
explain:
if we choose to trade every 50 pips when the prices is 1.6400.. our expert will start putting orders at the prices of 1.6450, 1.6500, 1.6550,....etc.
I THINK IT IS BETTER TO DETERMINE START POINT" VARIABLE"....
explain:
price now is 1.6400...our start point is chosen to be 1.6433...our intervals is 50 pips... then our orders will be 1.6433,1.6483,1.6533,1.6583...etc.
4- simultaneous trading using different setting on the same piar..
explain:
may we trade on 1M,5M,30M using different settings...so we can put 3 or more experts on 3 or more time frames for same pair...
these are my ideas....CONTRIBUTION TO THIS EXPERT WILL BE APPRECIATED...