Kenny,

All valid points. If I get this in order, I'll be using it on Interbank's platform. They've got the whole "we prefer you holding a trade for 90 seconds" thing, but I've talked with their reps before, and the 90 second rule primarily applies to news traders. If you average out the 500+ trades in a session, I'm coming in around 1 Min and 30 seconds per order. They definitely won't have a problem with this scalper.

The real trick for me is not in finding the right broker, its getting this method set up right. I totally agree about having to recoup spreads and what a daunting task it is to clear profits from every few minutes of noise. I swore to myself in the past that this sort of printing press concept is not viable. Like you (from the sound of it) I spent years running number sequences on grid layouts and such. However, I feel that this might be attainable, after all.

I've reworked the numbers and am firing this puppy up next week. Apparently, the weakness for the EA was my desire for excessive gains. I've skinnied down to a point where the profit potential is still of interest. I'll watch it next week to see if the "pain" threshold was lowered.

This is a great time to be testing.

MM

If you can make money on IBFX, you can double your profits just by going to an ECN where they have much more favorable spreads. That is one of the reason that most scalpers require low spreads to be profitable, and you won't find them on MT4 bucketshops. You are trying to exploit very tiny moves that can last a few seconds. And if you don't close out in that few seconds while you are in profit, then you lose that profit. That is the very nature of the term scalping. I think your strategy is not really a scalper. It's more of a volatility trap using multiple trades, perhaps using pyramiding logic / hedging.

And the funny thing about sizing grids, it will ultimately lead you to RR ratio. Sooner or later, you will see the power of just increasing the reward to risk ratio that will add to the bottom line because you eliminate the intermediate spread costs, so you are basically saying, I will hold on longer for a higher target. Then the evolution begins of trend following because that exactly what it is, following trend with large tp and small sl, which is the point I'm at, and been at for awhile now. Some might say I'm stuck here...which can be seens as a good thing or bad thing.

Anyways, that's about as much as I'm going to say because maybe my own limitations is preventing myself from finding a scalper. And I should not continue with this line of thinking and discourage you from your own quests for glory. As we are all just learning and adapting to the market.

__________________
aka jbfx

Ok, here's the deal...

For reasons that are too lengthy to discuss here, I have made the following changes to the logic of the EA.

1. No more floating positions. Orders will be stopped out, and doubled per each losing trade.

2. The EA will "isolate" specific occurrences based on price action. Market randomness is still the philosophy; however, I wanted to exploit the "what is not likely to happen" methodology with this PA isolation process.

3. Lot sizes have been increased to make up for less frequent trade placement.

That's it for now. 1st day's statement attached.


MM

Attached Images

12-8-08.JPG (71.8 KB, 88 views)

I need a nice 200 to 300 pip bust out move. This EA loves ranges... of course I'm interested in seeing how it handles itself in situations that it doesn't love.

Some of the back testing results over the weekend were interesting, but otherwise, useless. We'll see what happens tomorrow.

Cumulative statement attached.

MM

Attached Images

12-9-08.JPG (71.8 KB, 82 views)

I think this version might have a higher chance of survival, Mr. M. Looks like there are some dips, which are good indications of a robust system. Good luck.

__________________
aka jbfx

Thanks, Kenny.

We'll see how it develops.

Moving right along...

Attached Images

12-10-08.JPG (72.1 KB, 60 views)

Hi guys. Reading your posts I wonder if my way to trade in fx is good enough. I’ve been not that long in here but I’m used to trade taking trends from a day timeframe at least. I guess if you are scalping you can do it thanks to your high-performance platform, taking in mind the high volatile currencies issues of the crisis. Long timeframe trades may be more profitable. Would you agree?
Hope to know your opinion, adelin

^ Nothing wrong with trading on the daily. It is probably one of the most profitable and consistent timeframes to trade on. But you need a lot of patience, and stomach for drawdown. And I love trends as well.

Most traders want to move to lower timeframe to increase their opportunity to compound. They want a lot of action and speed. And minimize drawdown.

__________________
aka jbfx

Adelin,

I would have to agree with, Kenny. The "stable profit" is most likely found in the bigger TFs. If your trading is profitable on the dailies and it fits your psychology, then don't change a thing. The reason I am creating/testing this EA is because after 5 years I am not able to control my emotions looking at the 1 min chart. The only way I have been able to make money trading has been 4H and up. Stick to what brings in the bucks.

MM