I have this idea for a strategy that yes i know is insane so please do not try this on a live account. I would like to hear some constructive criticism which remember even negative comments can be constructive if you back them up with fundamental reasoning.
OK heres the strategy:
1 basically determine if a pair is long term trending up or down for the rest of this discussion i will say the trend is bullish or up.
2 place a buy order for penny lots on every single pip with a tp of approximately 5 pips I plan to experiment with sl’s maybe not use them at all, and yes i know thats insane, I said from the beginning this entire strategy is insane, however no currency pair moves in one direction forever and it may take 50 years for a pair to ever return to a point.
3 i’m thinking about using a moving average not sure whether it will be a sma or an ema
4 everything over the moving average place a sell order on top of your already existing buy order these sell orders will probably have to be adjusted everyday
5 every time a buy order has taken profit replace the order with a new buy limit at the previous orders origin
6 this will probably have to be coded with some sort of code such as mql4
please remember this is a purely supersillious idea thats playing around in my head and I’d just like to see the outcome of this experiment of course i plan to test this on a demo account probably with some sort of ridiculous balance like 5 to 50 million and backtest it for an extended period of time because personally i know that it would eat up a balance quickly with margin alone even just at .01 lot sizes
and before you post your comments with O this is the stupidest strategy i’ve ever seen know this, this strategy is incorporating strategies that already exist i.e. hedging and moving average strategies