A grid idea that is untraditional. Stop orders instead of limits.
No answers yet within two days... so I'll give it a try.
Grids "with the trend" are nothing new; you'll find many articles if you google about grids.
My personal opinion:
I don't think that what you're describing can be a good strategy on it's own.
Basically, this just means "scaling into a position" plus using a trailing stop.
Keep in mind that the benefit of "scaling in" (=pyramiding), which is losing only very little if the trade goes against you early is 1:1 counteracted by the downside of a higher average entry price,
which is why there is no edge yet. I would consider it as a possible money management system, but - without good reasons for when be long and when to be short or flat - not as a trading system on it's own.
Thanks Chris. Yes, I know it is not an old idea. But the most used grid is the grid that open limit orders. So if you buy and the price go against you in specific pips or timeframe or whatever of conditions you might like to use then you open also a buy and keep doing that until the price pulls back in your dirrection then you close on profits and repete that.
What I like to use is stop orders. Else the same concept.
What wil keep me in the market is the money management and the trailing stops. So I hope that there are a grid that work like that.
I have a free ea that trade following the limit orders that I have had a good success with using slow pairs like nzdusd and eurusd. But I like to use stop orders instead with quick pairs like gbp pairs. I claim it will give higher return.
Hopefully some one that can guide me in the right dirrection of finding it.
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
Hello
Ok, I before posted in this forum about a grid system, but this idea I really hope to find some one that have an EA for it, or at least similar.
I have been searching for an EA that work the oppisit of what the traditional idea of the grid. So, instead for adding and openning trades when the price go against you, you open only when it is with you. And not open when it is against you and leaving the first order just open and waiting for the price to pull back.
This idea could be grate when you catch a big market movement. Even if that happen only one or twice in a month or three months. What will keep you in the market and not margincall your account is the trailing stop that is responsible for loosing as little as possible from your balance until you catch the trend that you are aiming for. And will be more effectively with pairs that usually have big movements.
I hope if you know such an ea that will work as whis idea I described above you will recommend me it. The idea in short term is a grid system that instead of openning limit orders it have to open stop orders, plus a trailing stop that will deal with all the opened trades and not just with the trades one by one.
Looking forwards to your comments and suggestions.