No Loss Trending EA
Clever idea. So you are using a hedging strategy on the same pair. I think somebody should make this EA. See what the results will be like.
Actually the idea doesnt make sense.
Why place a buy and sell order initially in the first place? Why not just place buy stop orders above the market price, and sell stops below the market price?
Parameters for the EA:
Buy and Sell and London Open.
Buy/Sell Pending 15 pip away from Market Price.
TP: 10 pips total from all trades
Close trading for day once 10 pips target has been met.
Cotinuous pending orders 15 pips away from each pending order.
Initial starting balance $5k.
Target: 10 pips per day ($100 per day).
$2300 per month.
The only question I got, how does the margin work on hedged positions? What is the possibility on getting a margin call on numerous opened positions?
Parameters for the EA:
Buy and Sell and London Open.
Buy/Sell Pending 15 pip away from Market Price.
TP: 10 pips total from all trades
Close trading for day once 10 pips target has been met.
Cotinuous pending orders 15 pips away from each pending order.
Initial starting balance $5k.
Target: 10 pips per day ($100 per day).
$2300 per month.
The only question I got, how does the margin work on hedged positions? What is the possibility on getting a margin call on numerous opened positions?There is an EA for similar strategy at letxfx.com. It works good as long as the market is in range mode.. when the market trends heavily.. depends on your positions.. account will go deep red.. I demoed this for 2 weeks.. First week was great.. got $2000 in 5 days (Mini account).. 2nd week, when GU trended heavily down.. all money lost.. along with the deposit($2000).
There is an EA for similar strategy at letxfx.com. It works good as long as the market is in range mode.. when the market trends heavily.. depends on your positions.. account will go deep red.. I demoed this for 2 weeks.. First week was great.. got $2000 in 5 days (Mini account).. 2nd week, when GU trended heavily down.. all money lost.. along with the deposit($2000).
true.. how about adding some indicators to filter entry point?
I dont know what parameters are used by letxfx or how it trades. But if you use my parameters, ONLY 10 PIPS PER DAY. It will generate consistent profit everyday guaranteed, with minimal dd unlike letxfx.
With this EA the market will only go into deep red if the following happens in the following order:
Buy 1 gets triggered,
Sell 1 gets triggered,
Buy 2 gets triggered,
Sell 2 gets triggered,
Buy 3 gets triggered,
Sell 3 gets triggered,
It works very well in trending markets. Quite the opposite to letxfx, as the above describes a rangebout maket.
Hedging opposing positions on the same pair makes no sense at all. You would just suck up margin and make no profit.
You open a buy and a sell at 1.000. Maret goes up 10 pips. How much profit did you make? 0. Actually, you are in the hole from the spread.
A new buy is open and the market goes up ten 10 pips again. Now, you are in profit of 10 pips, minus the spread of the first two position. If you hadn't bought those first two positions, you would have more profit.
Please please please. For the sake of your account balance, please go read a book on basic forex principles before you trade another penny. Anyone who ever suggests opening a buy and sell on the same currency needs to stop trading and start reading.
There is no such EA with the parameters I've described. One contributor mentioned letxfx, from what I can gather its not the same if it doesnt work in trending market.
To just say that thousands of people have looked at this before without any proof, or an EA to show it, is just naive. Trading is simple and should be kept simple.
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i need help this would be a no loss ea only if someone could script it please like this:
I need an ea that automatically opens a buy and sell order and then all buy pending orders above the market price and all sell pending orders below the market price at x number of pips away with no take profit or stop loss on the orders but an overall take profit when all trades equal a profit of x number of pips. Thanks PM ME.