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WaHapon · #**895** (**permalink**) 06-06-2009, 04:35 PM

Quote:

Originally Posted by shleimun

This is BEST Suited for scalping as the market is usually in sideways mode over 80% of the time.

I think my strategy will work great, if the EA is implemented correctly.

Here it is:
Values:
Lot Size = 0.01 (value #A)
Trades-With = 3 (#B)
Trades-Against = 1 (#C)
TP = 45 pips (#D)
SL-BUY = <enter value> (#E) ----- (Example 1.2180)
SL-SELL = <enter value> (#F) ----- (Example 1.4520)

>>>EVERY TRADE WILL HAVE A TP OF 45 (D) AND EVERY BUY WILL HAVE A SL OF VALUE E AND EVERY SELL WILL HAVE A SL OF VALUE F <<<

* I will MANUALLY buy (or sell) .01 lot
For example, buy 0.01 EUR/USD at 1.3950

* when the price goes up 45 pips (D), it will close the BUY and open THREE (#B) more 0.01 Lots (#A) 0.01 BUYS Lots and ONE (#C) More 0.01 SELL Lot

* Again, if TP is hit, it will close the three Buys and open one more SELL.

Now, if it goes down 45 pips, it will hit the SELL TP and close it and open three more SELLs and open One BUY ....... and so on.

Now, let's say the price goes to 1.4520 (F) , then it will close all SELLS.
OR if the price goes to 1.2180 (E) , then it will close all BUYS.

That's it.

I'm sorry it's confusing but think of it this way:
Open One .01 Lot against PA and THREE 0.01 Lots with PA.
<Another example> Everytime your TP hits, you open 3 more of the same direction and 1 of the opposite direction.

So, basically while you lose 1, you win 3 x 45 pips :-)

I would appreciate any help with an EA to do this.

Thanks in advance.

Mike Shleimun

Have you found anyone to code an EA for this strategy? I find it VERY interesting and began trading this live for two days now. I've closed 1530 pips of profit and currently have about -1300 in open orders (8 orders total, 0.01 lot per trade) on EUR/USD. I'm using a range of 1.2200 - 1.6100.

Tell me if I'm wrong but in any size range with this strategy there will essetially be a breakeven point reached (assuming the range boundries are not broken) and every 45 pip level closed for profit goes straight to the bank. That being said (MM is key) if you had an infinite range (no S/L), this essentially could run forever but the reality is the actual range is not infinite therefore over time it would have a breakeven point and ultimately be successfull with a margin call being the only concern.

I haven't missed an entry yet but I know I will eventually. If you wouldn't mind sharing the EA with me if you can get it developed, it would be greatly appreciated!!!!!