Hey cool, Coolhand!,

Time frame is irrelevant. It works on movement with no indicators at all. I use 15 minutes as that gives me a nice snapshot of the night's trading when I come downstairs in the morning. I can see at a glance from across the room if it has been "busy" and which direction it went.

The primary difference between v1.4/v1.5 is the ability to set an automatic TP value where the grid will shut down and book the gains. This is very useful for the grid scalpers among us. I have one guy who is making 20% per DAY in a real account with this approach. I wrote the auto take profit feature for him as he was running the calculations manually and closing each grid at a profit level each day.

But, I find that his level of leverage is way, way to high for my personal preferences. His exposure is 50x higher than mine. If things go badly for him, they could be really bad. I am also trading for a small group, and am not willing to take that much of a risk with their money.

With my personal preferences wanting a long term wide bi-directional grid, I would let those lingering orders sit. I view this as buying a business and don't want to jump in and out every day. I want to grind out a steady profit for months. 30%+ per month is nothing to turn up one's nose at!

But...I must admit, 20%/day with grid scalping is very, very tempting. As Homer wrote:

"First you will come to the Sirens who enchant all who come near them. If any one unwarily draws in too close and hears the singing of the Sirens, his wife and children will never welcome him home again, for they sit in a green field and warble him to death with the sweetness of their song. There is a great heap of dead men's bones lying all around, with the flesh still rotting off them. Therefore pass these Sirens by, and stop your men's ears with wax that none of them may hear; but if you like you can listen yourself, for you may get the men to bind you as you stand upright on a cross-piece half way up the mast, and they must lash the rope's ends to the mast itself, that you may have the pleasure of listening. If you beg and pray the men to unloose you, then they must bind you faster."

Now I'm quoting the classics to Forex traders... I wonder what kind of response THAT will generate!

Take care,
Bill