This is the original idea
This is modification
This is the EA
Sorry for links , copy it in ur browser because I am a new member
I attached it , but it is expired. Owner of the EA said that people should free to unlock it in the last link. The problem is I don't know How to do it lol.
One good thing of this EA that it do the trades in 1 day and you can monitor it. So anyone can u unlock it and share it?
I only tested it manually demo and on Forex simulators. Never reached 24 loss in a row. Virtually impossible.
What timeframe is it supposed to run on??
It is buy and sell orders , doesnt depend on TF or trend direction. All you need is a 40 pips move in only one of 24 consecutive orders and you win. So basically its a break out system. Plz read the first page in the first link I posted.
Here is the EA and the expiry date can be altered..I found it on FF
Thank you . Now testing it demo , changed it to micro lots.
I think this EA is not good to run fully automated. The problem is when I trail my stop and it hit in profit , it starts the cycle from the beginning.
Please help modify PowerSM.EA
This is the type of EA I was searching for but with a slight modification. The EA opens position based on time or price but I need the same EA not to open position but to handle already opened position. Doing so would be very beneficial to trade along side any type of manual trading systems. For example, If you are a trend trader and say you opened a long position, if the trade goes all wrong the EA can take care of it. See in many cases when I trade following all these lagged indicators i some times get screwed and my stoploss gets hit and then the price carries on going the opposit direction, this EA would be a sort of holy grail in managing trades. Some traders do use larger time frames to trade such as 1hour time frames.
It's obvious with larger time frames means larger profit, larger drawdowns and larger Stoploss. Assuming a trader uses a 1hr time frame and say he/she opens a long position with a TP of 250 pips and SL 100. One of two things can happen, the trader would either achieve 250 pips profit or suffer a loss of 100 pips.
Now lets use the same scenario with the mentioned EA turned on with settings of say, lots 1.0, 50 pips SL and 50 pips TP. Trader opens a long position hoping to achieve 250 target and assume that the market finds a momentum to the short side, one of 4 things can happen.
1. The price drops 50 pips, trader gets closed plus re-entry short of lots 2.0, and the price drops a further 50 pips finally hitting TP of Short entry. In this case trader profits 50 pips. (instead of loss 100 pips)
2. The price drops 50 pips, trader gets closed plus re-entry short of lots 2.0,
and the price drops another 20 pips and turns around and finds momentum to the long side. Now let assume the price went up 70 pips to a point where the trader initially opened his trade, at this point second entry SL will get hit and a third entry of 4.0 lot long entry would be entered. The price goes up another 50 pip and then the TP is achieved. In this case 50 pip profit achieved or the trader then can switch off the EA and target his 200 pips with 1.0 lot, if he wishes.
3. Trader gets whipsawed SL to SL 3 or 4 times then achieve 50 pips profit. In this case the trader should seriously consider thinking about changing his trading strategy because it's rubbish.
4. Use your own imagination.
This EA if modified it can also be used for set and forget strategies. In my opinion, it would be a type of tool every trader should have in his pocket.
Power SM on more pairs
Thanks for sharing the ea. Can this ea be put on more than one charts or do we have to have a different expertld num.
I agree this is someing that is need or interesting
very good i will back test it
thnks for sharing