EA General Idea - Based on a Positive Progression System
Your EA idea is good but I think someone already tried this idea because everyone want to earn profit when they use EA.
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I generally post on BabyPips, but you guys seem to be much more aggressive toward creatin and thinking of great ideas for new EA's, so I wanted to drop my idea in the pot.
I actually for once would like to see a "positive" progression EA created. I don't have any specifics as to how the actually trading system would take place.BUT..... My idea is this.......everyone seems to be so focused on "negative progressions" and recouping losses etc., which is dangerous unless you are trading with a HUGE account. Even then its still dangerous. OR FLAT 'betting' so to speak which is the other 80% of EA's (same lot size). It would be a breath of fresh air to see an EA that increases lot sizes after a WIN...
General Strategy- You start with your base lot size, which can be anything you'd like. I'll say .01. You win the trade, the next trade lot sizes goes to .02. If you win a 3rd in a row at .03 the system starts over. After ANY LOSS it drops back to the orginial lot size of .01 and starts over. So 3-4 wins in a row the system starts over or ANY loss it starts over. If the EA is solid enough you can increase to 4 straight wins before you drop to base lot size.
If someone can program something like that based from a standard EA system I'd PAY $$$!
You don't have to worry about streaks of losses, etc and be shaking at your PC watching the trades (like a martingale)! Any decent EA normally rattles off a bunch of wins anyway.
Also if the lost sizes can be manually changed that would awesome. You can do a super conservative, .01 - .02 - .03 or go .02 - .04 - .06, etc. etc. etc depending on the account size and risk/reward level specific to the person using it.
What do you guys think? Obviously this is just the MM aspect of the EA. The actual EA TRADING STRATEGY I don't have, but I see so many of you posting free EA's, which seem to be profitable. A solid one can be chosen and based around that. It doesn't have to be the PERFECT EA that everyone is waiting for to use this system either. Just RATIONAL stop-losses. I think in the long-run of many wins /losses this would be EXTRA profitable. Why? Think about your average EA. It'll win 5 in a row, then lose and POW it's usually a hefty STOP LOSS, which then wipes your profits for the last 4-5 WINS! Then you have to start from break-even just hoping to first recoup losses, then go on another win streak. With this MM strategy, after 3 WINS your profits are in a way locked in to then start from scratch, which will happen I believe a LOT.
If anyone is willing to take on this type of project, sticks with it and supports some quirks for everyone on the forums, I'd pay money. And I would like it posted for the whole community, not just myself.