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If i understand well the method, as soon as we have a 40 pips retracement, then we start again with level one.....ont he charts that you presented there has been many retracements of 20 to 40 during this climb...would be necessary to check in details on lower tf charts to check what has been the worse situation during these two periods
If you guys are adamant about attempting to automate this I have attached the Make grid EA for you. You will need to set up 2 of them (just change magic number on the other one. One will buy @ X pips with TP, the other will sell with same X pips TP. Give it a shot and see how it fits. I have spent years working on this methodology, and for myself... have found it not to work in the way I was expecting it to. The market is alive... nothing can be constant in the process of acquiring a profit. That includes TP, SL, MA crosses, and hedge levels. Just my 2.
You guys got me rolling on this one. Started going through my 1000 + catalog of EA's and indicators and found these. If I recall correctly they are pretty similar in what this thread is attempting to achieve. I think someone could do a couple of quick mods to make them exactly based on the system rules.
i'm sorry if you all do not understand this method well. Since my poor English. The important thing of this system is retracements. We need only 20 pips retracements and all position in the same position will be closed. And it will restart to level 1.
We have 8 level to secure the position.. equal 160 pips.. you can add more if you have more balance. But in my experience 8 level is good covering.
Mr. Marketz: if you think there were not 20 pip retracements in 160 running pips in nov 06 and july 20.. this system will make you bankrupt but if there are this system will make you smile .
I share my idea for free... i hope there are someone out there would make this EA for free. and i guarantee this method will make u smile
Rifo, I'm glad to see your analytical mind working... it will eventually be the reason for your trading success. However I have seen first hand (and with my real money) this type of method go up in smoke. Not to mention I would give myself a much bigger buffer than 20 pips on a 160 pip move.
Let me make this clear again... there is nothing constant about the market. Any EA with a fixed set of parameters will blow up your account. And that's a fact my man. But again - your mind is in the right place, and if you persist you will achieve.
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