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Grid - New indicator that replaces chart grid 60 replies
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You think you are good enough to analyze what system is this?? 7 replies
Disliked{quote} All good. At some point you are choosing to be net log or net short, only way to produce a gain. My question is, why hedge at all, just open a long or short at the point you think you know what direction it will go next. Can’t grasp your logic at all. CheersIgnored
DislikedAt 20pips interval you take a sell and buy order. 1. Entry 1; Eu buy at 1.130 tp: 1.1320, sl: nil, Sell at 1.130 tp: 1.1280, sl: nil. Market move to 1.1320. Buy order tp hit +20, sell order -20. New set of buy and sell order triggered at 1.1320 2. Entry 2 Buy and sell at 1.1320 buy tp: 1.1340 sell order tp 1.130 Price move to 1.1340 Buy tp hit +20, loss -20. loss of 1st sell order now at -40. Total gain +40, total loss -40 of entry 1 and -20 of Entry 2. Total loss -60 Entry 3 Total gain will be +60 total loss -60, -40, -20=120pips. Correct me pls...Ignored
Disliked{quote} I do not set SL only TP for every trade. Please reread first post.Ignored
Disliked{quote} Hi Micheal thanks for sharing your system, i understand and get it no problem. My question is, i am going to try this on demo first but what is the highest lot size you would recommend on £500 please? Edit: i have no problem with spread i have an Australian Account.Ignored
Disliked{quote} I do not set SL only TP for every trade. Please reread first post.Ignored
Disliked{quote} Again sorry about my confusion. I must be missing something fundamental here. Once more referring to your pic. I get the 160 pips in TP's. But it would seem that your first sell order would now be at -120 pips. But in your first post you mentioned a new buy and sell "pair" at each 20 pip interval. So if I'm reading that right you would now have sell #2 at -100, sell #3 at -80 etc. so your total DD counting the buy at #7 would be -440. What am I missing here. Do you not add a sell at each level?Ignored
Disliked{quote} Good you get it. Always keep in mind we can get sharp movements without much retrace and we must stay as long as we can get out in minimum profit. How often we have such movements and what are the largest distance without retrace? If you build in past good profit, you can take bad trades earlier out, but if you start the account and you have no profit generate at all, you better start with really small lot, means 0.01 or max 0.02 lot. What can you do? Increase capital to trade higher lot or happy with results you will for sure get, if you...Ignored
DislikedAt 20pips interval you take a sell and buy order. 1. Entry 1; Eu buy at 1.130 tp: 1.1320, sl: nil, Sell at 1.130 tp: 1.1280, sl: nil. Market move to 1.1320. Buy order tp hit +20, sell order -20. New set of buy and sell order triggered at 1.1320 2. Entry 2 Buy and sell at 1.1320 buy tp: 1.1340 sell order tp 1.130 Price move to 1.1340 Buy tp hit +20, loss -20. loss of 1st sell order now at -40. Total gain +40, total loss -40 of entry 1 and -20 of Entry 2. Total loss -60 Entry 3 Total gain will be +60 total loss -60, -40, -20=120pips. Correct me pls...Ignored
Disliked{quote} Understood Michael, thanks for the in depth reply, i get what your saying, you could be holding 20 loosing positions until there is a reversal of 20 pips to ht tp. Another question please - if the market is trending up and you had six sells open and and 1 buy and sell could you not close the very first sell trade to reduce open positions, because your going to close it anyway in the end ? or would this affect the process ?Ignored
Disliked{quote} I cut at this point the first sell trade out (-120 Pips), because i have build profit from all buy trades (+160 pips). The rest is waiting for the next situation i can drop the next loosing trade. It is an ongoing process, as the market is ongoing. This was a example if we have a sharp movement without retrace all the way, so we must wait for enough profit to cancel bad trades out.Ignored
Disliked{quote} Okay I understand what you're saying now. You just closed the first position. But you still have -320 in floating loss. Similar to Remon's strategy to net out losers except he didn't close his profitable trades until a reversal so he could net out more trades. Sadly you will go broke even faster with this method. Your profit taking is linear but your losses are adding up exponentially. In your example of the market going 1 direction for 500 pips your 25 sell positions would be -6500 pips with closed long profits of only 500 pips. If price...Ignored
Disliked{quote} I said this in the first post, do not trade without give minimum one minute to think about lot size!!! If you have for each position 1% or say 0.5% you have too much invest for one trade. We must keep stay in market if we get some fast moves without retrace much to get out of negative trades. After hundreds of pips price is going against us, we need not much to kill loosing trades and be in profit overall. ALL COMES TO THE POINT PICK A CLEVER LOTSIZE! I have said it, please read careful the first post. Please stay away to post further EAs...Ignored