Thanks for the scripts bkr1969. I’m currently inputing new daily values into my spreadsheet. It takes about 5 minutes to do the entries once I have all the values.
If October goes well, I plan to open a $250 mini account trading .1 lots in November. The past 2 weeks have been great, but I need another month to make me comfortable enough for real money. If it goes well through the end of the year, I will open another (or upgrade) with $2500 (still mini) and trade whole lots.
Still going strong. My $2500 account had grown to $5200 after Tuesday’s trading, so I stepped it up to trading double lots, i.e. 2 to start, then 4 if a loss, then 6 if that lost, etc. Dropped over 800 on Wednesday, but made that up plus some overnight. Still sitting on 5 open trades today, should turn out well. The order entry scripts worked great last night!
Be careful in the sense of your money management. If you have a lot of consecutive losses it can be devastating to your account. Here are some money management styles you may want to look into:
Fixed fractional
Fixed ratio
Gann
Kelly Criterion
Optimal F
I am currently working on a spreadsheet for Gann. This divides your money into 10 equal parts and never places more than 10-percent portion on a single trade. So as you win, your trade positions increase and decrease after a loss. This maybe one of the safest mm styles that allows you to compound your returns. Just thought I would share that with you.
Hi,
I’ve also been intrigued by this system/strategy, but haven’t found the time to test it (been watching your results, though:)) due to the amount of “clicks” involved in placing the orders. What can I say, I’m lazy…
Please excuse me for taking this liberty, but I made some modifications to the scripts you’ve posted to accomplish the following:
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Choose either the lot size, OR use a specified % of account equity when entering the trades. This is defined via external variables when the script is executed. If you want to use a fixed lot size, enter it in the “lotsize” field, and enter “0” in the “risk” field. If you want to use a % of equity, enter “0” in the “lotsize” field, and the % of your equity to risk on EACH trade (not total) in the “risk” field.
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Enter up to 10 pairs to trade via external variables.
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Calculate (using your original code) the entry, stop and target values for each pairs’ long AND short trades, and place both trades automatically for all pairs entered.
To run this script, simply unzip it, place it in your experts/scripts folder, start MetaTrader, attach it to any chart on any time frame, and enter your lot/risk information and the pairs you want to trade.
In terms of risk, the lot size calculations are based on IBFX’ MINI account (if you’re using a standard account, you’ll need to modify the code that calculates risk - it should be fairly well commented.
I’ve also defaulted the pairs that it trades to my preference - just change them to whichever pairs you prefer when you start the script (make sure to use the “m” at the end if you’re on an IBFX mini account).
I’ve tested the script on my IBFX mini demo account, and other than some pairs already being past their entry points, it seems to have worked out.
To anyone else that downloads this, I would STRONGLY recommend you do not run this script on a live account - I have spent a total of about 30-minutes troubleshooting it, and won’t be responsible for any errors in logic or calculation.
-Charlie
*** EDIT - I removed the attachment, due to a bug I found with pairs like GBP/JPY, USD/JPY, etc. that only have 2-digits after the decimal in the price. I re-attached the corrected script in a later post…
Bkr1969- I made 2495 pips today using the Straddle method and your scripts.
Disregard.
Not my system. PIP_CHASER initially posted it. I just may be its biggest fan. 
(Except for you, kwilli…NICE!) How’s it going for you, PIP?
I was down 430 on Wednesday, but +610 today. My week should finish out over +2000. I don’t think I can ever go back to staring at charts for hours waiting for the “perfect setup” to make 10 pips.
Its going well. I am up 14% this week thus far without increasing position sizes (trading .1 lot on a standard acct for each pair). You are doing very well. I’ll post the MM spreadsheet when it’s finished if you guys are interested. I am not going to follow my original mm due to the unknown of consecutive losses in a row.
PipChaser not sure why you posted disregard my statements. They are the actually number of pips I made yesterday using the system. I will be glad to post my entry and exits points on each trade that was taken.
I thought your statement was crediting the wrong person for my method. I edited my response with disregard. No worries. Keep up the good trading.
Can I get a copy of your sprdshet bk?
Thanks rc1262
I edited the original mm rules in the 1st post. It is just reverse logic. After a win increase position size and after a loss decrease the position size. The will help to scale down in the event we have many consecutive losses. This is not set in stone, so you can us whatever mm style you want. I am open to other mm ideas in addition to the ones posted below. I am still working out the details of the Gann spreadsheet.
Straddle trade worked off the New York open. I took the entry when price broke below the Sydney open and payoff at the green tp payline.
I noticed that the entry line acted like support 2 times but failed on the third time. Have you ever considered trading the break?
I found something that looks like it could be used for the straddle. It’s a box trade indicator.
BrainDuffer,
Please do not post on this thread unless it is directly related to the method posted on the 1st page. If you alter this at all then it is no longer the same system. Please delete your post so it will not cause any confusion.
Thanks,
PC
I am posting charts based on the method in post #1.
Brian,
I thought you were trading the breakout of the sessions. Sorry man. There really is no reason to post charts. This is a set and forget system with the exception of cancelling any pending orders if trades are triggered. Any thoughts on mm improvement?
PC
Ok, read and re-read and re-read
Post #1 & Post #26 that did the trick.
Looking forward to seeing the spreadsheet and trying some forward testing.
First time I am sad tomorrow is Saturday!