Learning Cycles For New Traders - page 4
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Deleted....see next post
So here we go!
The #1 most important thing is that I need an EA for this strategy.
Trade a curreny pair with about 2 pips spread. Maybe 3, but not 4.
Would be great if 1.
When You see the market, place 2 orders. Anytime. Buy and Sell 1 lot.
If You put the trades on ie., 1.4680 then draw a horizontal line on 1.4680
( Opening Price ), 1.4700 ( Level + 1 ) - Levels are 20 pips apart -, 1.4720
( Level + 2 ), and up to level + 8. Then make 8 levels under opening price. Level -1 would be 1.4660.
No Stops at the beginning. Don't pay attention to the orders on the left side.
When market reaches level + 1, add 3 lots to Your sell position, and let your 1 lot buy keep on going, and put stop for all the 3 open orders to the Opeining Price ( Level 0 ).
So, You exit when the market reaches a certain level, and then drops back down one. ie., price reaches Level + 4, Stop is at ( Level + 3 for ALL open orders ). WHen reaches - 3, Stop is at -2 Level.
Again, when reaches Level +- 1, trade 1 lot.
Level +-2, trade 3 lots.
Level +- 3, trade 5 lots.
Level +- 4, trade 9 lots.
Level +-5, trade 17 lots. ( Doesn't happen often )
Level +- 6, trade 33 lots.
Level +- 7, trade 65 lots.
Level +-8, trade 129 lots.
If account is bigger, keep going, and you won't lose. Not 1 trade.
I will show You a way so that Your account(s) won't blow up.
Also, I use MetaTrader4. I also like to start the trade in the beginning of the day. ( 00:00 ) time on MT4.
Any Questions?
I would be happy to answer them.
Well, I believe we'll have a different perseption about any system once we familiar in it. Everybody will add their style, so it won't be the same again.
Guys, what happen if eveybody trades the same strategy? What will happen to the market?
I remember when a grid EA called BMX and its variations were introduced in the Automatic Forex Forum the members there were so excited and were discussing about what would happen to the market. The EA was on a tear and was producing hundreds of pips a day for about 3 months and they thought that they had discovered the Holy Grail.
Some were urging others to keep the EA and the strategy secret. They did not pay attention to the real potential for account blow up. What a bunch of naive folks they were.
A lot of folks bet their farms on the thing and had their accounts wiped out after some time and were devastated.
My holy grail: https://www.mql5.com/en/forum/176545
Use the "Timeout" option to select the time between alerts, just like the "snooze" button on an alarm clock.
Use the "Maximum iterations" option to select the max number of times the alert will go off.
see pics attached
Martingale grid
OK
This is basically what I would label a 'Martingale grid'. You are increasing heavy lots one side of the initial opening pivot whilst carrying only one contract that is currently in profit in the hope that the market will turn back the 20 pips and you cover the loss of the last 20 pips just traveled against you.
Sorry, I don't mean to shatter your dreams but this is a Poison Chalice, not a Holy grail. If you want a lesson in futility, head over to the 'Big Profit with no Indicator' thread where they are working a identical strategy called 'Blessing system'. Wow, talk about a blessing in disguise.
I have posted a few comments there warning others so I wont repeat it here except to say that this violates concrete rules that Traders ought to follow. It has complete disregard for MM and will wipe your account in 2 bad calls.
If there is one wise thing you do this year, it's not attempt this strategy, no matter how desperate you are.
FxNorth
My holy grail: https://www.mql5.com/en/forum/176545
Here is mine
http://www.intriguing.com/mp/_pictures/grail/large/HolyGrail051.jpg
lol!!!
Here is mine http://www.intriguing.com/mp/_pictures/grail/large/HolyGrail051.jpg
lol lol lol lol......
The #1 most important thing is that I need an EA for this strategy.
Trade a curreny pair with about 2 pips spread. Maybe 3, but not 4.
Would be great if 1.
When You see the market, place 2 orders. Anytime. Buy and Sell 1 lot.
If You put the trades on ie., 1.4680 then draw a horizontal line on 1.4680
( Opening Price ), 1.4700 ( Level + 1 ) - Levels are 20 pips apart -, 1.4720
( Level + 2 ), and up to level + 8. Then make 8 levels under opening price. Level -1 would be 1.4660.
No Stops at the beginning. Don't pay attention to the orders on the left side.
When market reaches level + 1, add 3 lots to Your sell position, and let your 1 lot buy keep on going, and put stop for all the 3 open orders to the Opeining Price ( Level 0 ).
So, You exit when the market reaches a certain level, and then drops back down one. ie., price reaches Level + 4, Stop is at ( Level + 3 for ALL open orders ). WHen reaches - 3, Stop is at -2 Level.
Again, when reaches Level +- 1, trade 1 lot.
Level +-2, trade 3 lots.
Level +- 3, trade 5 lots.
Level +- 4, trade 9 lots.
Level +-5, trade 17 lots. ( Doesn't happen often )
Level +- 6, trade 33 lots.
Level +- 7, trade 65 lots.
Level +-8, trade 129 lots.
If account is bigger, keep going, and you won't lose. Not 1 trade.
I will show You a way so that Your account(s) won't blow up.
Also, I use MetaTrader4. I also like to start the trade in the beginning of the day. ( 00:00 ) time on MT4.
Any Questions?
I would be happy to answer them.So we have another holy grail now. Dan7974, please post your trading statement. I'd like to know how this new holygrail performs...