i have this same thread in the ea forum…but then i realized that no one ever goes there…so i put it here
im sure this has been discovered already and possibly proven a failed strategy.
im not even sure how to explain what im doing. ill try my best in a example
eur/usd currently at 1.2545
i place buy orders at 50,60,70,80,90…and sell orders at 40,30,20,10…each one with a 10 pip limit
everytime a limt is hit…the order that was closed reopens but as an opposite order
say it was a buy position at 70 that closed out for 10pips…well right as it closes at 1.2580…a SELL entry order opens at 70 with ofcourse a 10pip limit…
kept as a continuouse cycle.
if the price goes one direction all day then it might be a losing day.(or a breakeven day minus all the spreads)…but if it is volatile with lots of ups and downs…it can be profitable
my question…is it possible to automate that???
let me throw in another thought that came across my head…since there are no stops…of course there will be a few positions that would be triggered but failed to hit the limit…lets say the losing positions started out as 5% of the account…after a few hours of this continuous cycle and equity growing…if it grows at all…that position may be less than 5%…even if it still is a massively negative position…the current equity of the account may still be higher that what the account started at for the day which wouldnt matter if u closed it anyway
BUT THEN AGAIN THESE ARE ALL THEORIES
EDIT…i changed my mind…every 50pips works better…every 10 pips ends up with too many negative positions floating around