Hi, to all the EA experts, especially to RoboPips,
I am currently trying out the surefire hedging strategy manually. It is a successful strategy. However, there is one problem. To be successful you have to sit in front of the computer during work hours(eastern US).
So I looked for and found an EA for it(MyPyramid). But the EA has problems. For example it normally opens lots in incremets of 0.1, 0.3,0.6…etc. But some times after it starts with lot size 0.3 this is obviously a big proplem.
Other problem is I don’t know how to tweak it. I want it to open a trade only once a day just before 7.45 a.m eastern time. And I want it to take profit or put a trailing stop as soon as it sees +18 pips.
Let me explain the strategy: Gbp/jpy open long 0.1 lots at 170.00 TP 30pips, SL 60pips, place a pending Sell Stop order of 0.3 lots at 169.70(30pips below) with 30Pips TP and 60 Pips SL. If the price goes up but doesnt hit TP and comes down to trigger the sell stop order we immediately place a buy stop order at the original price 170.00 with 0.6 lots with same TP and SL(typical hedge/martingale) but thats it we will not go further steps than this. If the last buy stop order also gets triggered the EA would wait for the most profitable point to close trade even if that means we take a loss. If we open trade only in the morning around 8.a.m eastern we have a 99 percent chance of hitting TP either with first position or second. I never had to go 3rd step so far. This is because of timing and the pair.
Now if I can post this EA here I will. If not you can google it. If someone can change the code around a bit to fit the above situation I would appreciate it. And if RoboPip can test this I think everyone would be suprized.
Also lets not forget, my TP is 30 pips(this is for brokers eyes) but soon as it sees 18 pips it I.E. 18 Pips in the positive side it should close all trades.
Unfortunately, its a no. I’m probably the least able on BP bar none to help… I can’t even text on my cell phone! I was more interested in the thought process behind your stat… never mind… I think I have it.
My thought process is , I know this strategy works with;
the right pair I.E.(Gbp/jpy) or better (aug/Usd) I dont know much about spreads and all with the latter pair however I’m told it is more volatile than previous so it should work better.
with;
the right timing I.E. 8.a.m. New York.
with:
the right tweak in the mart./hedge strategy where I would not go beyond 3rd step and I am willing to accept minimal loss.
But like I said in my manual trading this has not happened yet I have not lost yet. Unlike classic ma/hedge I am willing to accept loss. But it’s though to do this manually everyday while working. So I just need someone to tweak the pyramid Ea to do this, that’s all.
I forgot to mention that I would start with .10 lots and increase my starting lot everyday by winning percentage and also decrease it by losing percentage.
But don’t forget it is imperative that you start only 1 trade per day in the morning and increase your lot size everyday you win by %.
i tried this strategy some time ago on a demo account, but with bigger TP (100 pips)…worked some time but the day came when price ranged exactly between TP’s and open positions got bigger and bigger…
your version (not opening more than 3 positions with TP 30) could work better…are you still trading it and successfully?
I was more interested in the thought process behind your stat… never mind… I think I have it.