new guy with an idea
hello everyone...im pretty new to automated trading is it possible somebody can write somethign for me and give it a backtest. i would greatly appreciate it if the answer is a yes...here is what i would like it to do. at every 00 and 50 mark above the price...place it as a entry buy orderwith a 50pip take profit limit no stop at every 00 and 50 mark below the price...have entry sell orders with a 50pip limit.... heres the part that is crucial. right where the previous order that was closed...have a new order but the oppsite(buy opposite of sell,viceversa) of the previous pop up 50pips away from where the price limt is. heres an example. entry buy order opened at 1.5000....right as it hits it's limit at 1.5050....a sell order will appear at 1.5000,with a 50pip profit limt....a continous cycle. im very well aware that there will be positions left floating around. another thing ..is there a way to prevent it from opening orders where there are arleady positions? thank you ive been looking at charts....this would have generated 700 pips on e/j since the 18th of feb to present(5th of march)and thats including the positions that were left open with negative pips....it would need to run 24/7 on eur/jpy and/or eur/usd. with the right compoudnig method(maybe every pip equals .5%?)..this could mean big things please someone help me out or atleast point me in the right direction to write my own program...thank you
I have already coded strategy following that kind of logic and I am sorry to tell you that this idea will never work.
I did even better, coded a EA that spot figures (ex: 1.2700 on EURUSD) and then when price goes below the figure sell, if goes against you reverse buy (or vice versa).
The premium you pay in false break is huge before you can actually hit your TP (for any TP even for a TP of 5 pips).
So I can more or less say that you want to code, will yield bad result, probably even worse than the EA I have coded. You should look for another idea.
I can send you the code of the above indicator if you think this will help you code your worn.
good luck
I have already coded strategy following that kind of logic and I am sorry to tell you that this idea will never work. I did even better, coded a EA that spot figures (ex: 1.2700 on EURUSD) and then when price goes below the figure sell, if goes against you reverse buy (or vice versa). The premium you pay in false break is huge before you can actually hit your TP (for any TP even for a TP of 5 pips). So I can more or less say that you want to code, will yield bad result, probably even worse than the EA I have coded. You should look for another idea. I can send you the code of the above indicator if you think this will help you code your worn. good luck
heythanks for the reply but im going to have to disagree with you....
ive been maually backtesting....1000pips in 2 weeks with this cycle going 24hours a day on gbp/usd...there must be something different about our 2 startegies...but i cant pinpoint it
an online friend had his friend make an ea.....they tested it for the whole past year.....it got from 10,000 to 37,000...and thats non-compounded...at the very end it fell off the bed right when most charts started plummeting....must have retracted every now and then on the way down to trigger buy orders that would never see their limit get hit....
so now im wondering...what if i put like a 300pip stop? i wouldnt lose a toal of 300...only 50 to be technical because it would gather pips the opposite direction.....
im really looking forward for someone to master this strategy with me...
maybe if u pm me ur email...i can send u pics of charts and of exactly how im doing this
thats the results of it.....it was only 25 bad trades that killed the account....imagine if i would have had a 300 pip stop.
instead of losing 62000 pips....i would have only lost 7500 pips....which would have given me about .lets just say 50,000pips...which is roughy 1000 pips a week...imagine that compounded to be every pip value is updated to be 0.5% of the account every week or so
ps...please correct me on any of my math.
maybe you could paste the code here so we could play around somehow.
have you tried in forward-testing (demo-account)?
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hello everyone...im pretty new to automated trading
is it possible somebody can write somethign for me and give it a backtest. i would greatly appreciate it
if the answer is a yes...here is what i would like it to do.
at every 00 and 50 mark above the price...place it as a entry buy orderwith a 50pip take profit limit no stop
at every 00 and 50 mark below the price...have entry sell orders with a 50pip limit....
heres the part that is crucial. right where the previous order that was closed...have a new order but the oppsite(buy opposite of sell,viceversa) of the previous pop up 50pips away from where the price limt is.
heres an example. entry buy order opened at 1.5000....right as it hits it's limit at 1.5050....a sell order will appear at 1.5000,with a 50pip profit limt....a continous cycle. im very well aware that there will be positions left floating around.
another thing ..is there a way to prevent it from opening orders where there are arleady positions? thank you
ive been looking at charts....this would have generated 700 pips on e/j since the 18th of feb to present(5th of march)and thats including the positions that were left open with negative pips....it would need to run 24/7 on eur/jpy and/or eur/usd. with the right compoudnig method(maybe every pip equals .5%?)..this could mean big things
please someone help me out or atleast point me in the right direction to write my own program...thank you