So, again I post and idea I have in the hope of listening to your grate comments and suggestions. As I have mentioned in my earlier topics in this community that I am blind and cannot do any technical analysis or depend on any charts analysis or any of these amazing stuff that you are relying on guys. And as a blind person with plenty time to kill I have found this Forex Market and that is not for blinds at all, since even sighted persons and 90% of them fail in it. But you know? I like to try.
Because I like to try I have only depended on the mathematical calculations, grid and it's life companion Martingale. So far the market have punched me out so easy and with a smirk on it's face.. And I have ruened so many demo accounts for XM that they are now crying. LOL
Now I am tired of all these ideas without stoploss. I have now an idea I hope you will pay attention to it and tell me if I have something that I can rely on, or it is just another time waste.
Because the prices go up and down, I have observed that the prices in the most cases pull back to earlier levels. So can we not create a strategy based on this senario with a tp and sl? By calculating how many pips have the price moved either up or down - let say for the last six weeks - then we can consider that the price will at least pull back 66% of the movement. So if it have moved down 400 pips, we have to assume it will pull back at least 264 pips up before it will continue it's journey down, if it is not just keep climbing up. So what we do is not get greedy. We just have to hope for a 33% of the way, so just 132 pips. So this have to be our sl and tp. 132 sl and 132 tp.
So, don't you think this idea have a bigger chance to give more profitable trades the loosing ones?
And yes, this will cause that we will not be able to enter the market so often. Maybe in a month or two only one or twice. But I will solve it by trading 28 pairs and not just one. So I will keep search for these conditions in these pairs, so whenever a pair in these conditions I enter the market.
This of course need an Ea for it to be more clear because we can then test it in the backtester. And in an Ea we can let it decide the percentage out of so many candles we like.
The EA have to trade as follows:
It have to look at the last "user-defined numbers of candles" and it have to see how many pips the market have ranged, and where it is now. If it is in a level more then the "user-defined at least numbers of pips" so it will enter a buy if it is down, or sell if it is up, and it have to calculate the sl and tp according to the how many pips it is up or down, and it have to put the sl and tp according to the "user-defined percentage".
And let me remind you that if we found it in most cases profitable then we will trade 29 pairs together since the chances of all pairs meeting our requirements at the same time so rare that it is near the imposible. So we will end up having 7 or 10 trades opened at the same time.. So if we have made our money management correct then we will not worry about our account to be blown up.
So what do you think? Does it deserve the time or? And is there anyone with coding knowledge that will create and Ea for it so we can play around with it in the backtester?
Because I like to try I have only depended on the mathematical calculations, grid and it's life companion Martingale. So far the market have punched me out so easy and with a smirk on it's face.. And I have ruened so many demo accounts for XM that they are now crying. LOL
Now I am tired of all these ideas without stoploss. I have now an idea I hope you will pay attention to it and tell me if I have something that I can rely on, or it is just another time waste.
Because the prices go up and down, I have observed that the prices in the most cases pull back to earlier levels. So can we not create a strategy based on this senario with a tp and sl? By calculating how many pips have the price moved either up or down - let say for the last six weeks - then we can consider that the price will at least pull back 66% of the movement. So if it have moved down 400 pips, we have to assume it will pull back at least 264 pips up before it will continue it's journey down, if it is not just keep climbing up. So what we do is not get greedy. We just have to hope for a 33% of the way, so just 132 pips. So this have to be our sl and tp. 132 sl and 132 tp.
So, don't you think this idea have a bigger chance to give more profitable trades the loosing ones?
And yes, this will cause that we will not be able to enter the market so often. Maybe in a month or two only one or twice. But I will solve it by trading 28 pairs and not just one. So I will keep search for these conditions in these pairs, so whenever a pair in these conditions I enter the market.
This of course need an Ea for it to be more clear because we can then test it in the backtester. And in an Ea we can let it decide the percentage out of so many candles we like.
The EA have to trade as follows:
It have to look at the last "user-defined numbers of candles" and it have to see how many pips the market have ranged, and where it is now. If it is in a level more then the "user-defined at least numbers of pips" so it will enter a buy if it is down, or sell if it is up, and it have to calculate the sl and tp according to the how many pips it is up or down, and it have to put the sl and tp according to the "user-defined percentage".
And let me remind you that if we found it in most cases profitable then we will trade 29 pairs together since the chances of all pairs meeting our requirements at the same time so rare that it is near the imposible. So we will end up having 7 or 10 trades opened at the same time.. So if we have made our money management correct then we will not worry about our account to be blown up.
So what do you think? Does it deserve the time or? And is there anyone with coding knowledge that will create and Ea for it so we can play around with it in the backtester?