Quote:
Originally Posted by WNW
First, thanks for your work and the EA.
I've been fooling around with this idea for a long time using cobbled-together EA's.
What I've learned is that this can be a very profitable strategy, but if you use any lot multiplier you can quickly get in trouble in a ranging market. No lot multiplier (meaning a lot multiplier of "1") works best, meaning using the same size lot for each trade. Leave all trades open until you have a net profit and then close all open and pending trades.
Another problem with a multiplier is that as you add lots, you're adding leverage. This can work both for and against you in that you may hit your profit target, but by the time you've closed out your positions you may have a loss in a fast market. Being highly leveraged can cause a profit to turn to a loss quickly if volatility is up.
I would also like to suggest the option for "no indicator", meaning a pure grid system based on price action alone.
I may be speaking out of turn as I haven't tried the EA yet, but another suggestion is that the EA leave all existing trades open when the indicators suggest a trend change.
I'm eager to try your EA.
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The way the "multiplier" works is this:
if Double_Lotsize=false, then first order will = Start_Lot_Size, each additional order will ADD Lot_Size_Increment to the last order's lot size.
if Double_Lotsize=true, then first order will = Start_Lot_Size, each additional order will be DOUBLE the previous order, and Lot_Size_Increment is ignored.
(A risky way to go)
If you want to have the same lot size every trade set Double_Lotsize=false, and Lot_Size_Increment=0.
As the EA works now, ALL the indicator does is decide which direction the first trade starts. After the first trade it does nothing, until all trades close, then the indicator is used for direction of the new progression.
Any and ALL ideas are welcomed. Thanks for your input.
