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-   -   Stop Your Limits (SYL) (https://www.forexfactory.com/thread/1000560-stop-your-limits-syl)

KashifNawaz May 20, 2020 12:46pm | Post# 1

Stop Your Limits (SYL)
 
2 Attachment(s)
Let's say, a pair is in 1000 pips range for years, even 2000 pips we can trade SYL method and increase our equity by;

  1. Setting pending orders (all types) on above and below at fixed distance levels (grid-based)
  2. Keeping fixed trade open for eternity (using swap-free brokers)
  3. Declaring fixed and flexible trades.
  4. Closing flexible trades at TP levels and milking pips.
  5. Taking Stop Loss only for trapped trades (rare cases).

Don't expect huge profits but good regular profits can be made over the long run, so a lot of patience is required to win.
To understand the concept, please see the attached excel sheet; Thanks to Kingsley (Oyaks) for his idea.

SYL method starts with 12 pending orders above price and 12 below the current price as per set fixed distance in pips between each trade. The highlighted trades are fixed and cannot be closed until unless we reach our target equity.

Attachment 3642711

As explained in the attached excel sheet,
* if only one pending order hit (above or below) and price retrace then it will hit TP at next grid level.
* If price returns after hitting 3 pending orders then all 3 will hit TP at the original level.
* If only 2 pending orders triggered and price return then no order will close
* If 4 orders triggered, then it will be declared as a first complete set. Top and Bottom trades will be called fixed and middle two trades will be flexible.

When price will move 5 grid levels up from Buy trade or 5 grid down from sell trade, order 2 & 3 will close with net TP of 35 pips and will be refilled by pending orders again. We will get 35 net pips whenever price will pass through a complete set of 4 trades. (either range or trend)

Manually, this will need a lot of babysitting but the idea can be coded and by running this for months, we can reach our target equity (20%-30% or more).
SYL.xlsx


KashifNawaz May 21, 2020 12:26pm | Post# 2

1 Attachment(s)
The below-given screenshot explains the idea
Click to Enlarge

Name: Screenshot1.png
Size: 87 KB

emonts May 26, 2020 10:17am | Post# 3

1 Attachment(s)
Hi,

Below you will find an EA according the above mentioned spreadsheet.

BR
EU_Grid_PDO_V1.03.mq5

KashifNawaz May 26, 2020 10:28am | Post# 4

Hi, Below you will find an EA according the above mentioned spreadsheet. BR {file}
Thanks Emonts for taking time to code this idea. I will backtest and get back to you.
I have re-uploaded the excel file and removed the idea of martingale, rather we will take real SL for trapped trades instead.

oyaks May 31, 2020 1:29pm | Post# 5

wonderful job guys i have still working on the idea of the trapped trade

thanks

Merka May 31, 2020 1:36pm | Post# 6

Let's try again to cruck this old idea.
Thanks for sharing again.
Cheers

carddard Jun 1, 2020 3:59am | Post# 7

Welcome back, Kashif! Nice to see a familiar face. Good to see you still chugging along with hedge / martingale. Intrigued to see how this progresses.

KashifNawaz Jun 10, 2020 11:51am | Post# 8

Hi, Below you will find an EA according the above mentioned spreadsheet. BR {file}
Hello Emonts.
I have thoroughly backtested this EA with visual mode, it is working according to the strategy; however, 2 modifications are required to avoid trapped trade because DD is coming from trapped trades,

1st, we need to move TP of pair (buy and sell) from next grid to 8th grid. As shown in the excel sheet and image above.
2nd, we need to add SL for trapped trade at next grid level.

Can you please look into this?

wonderful job guys i have still working on the idea of the trapped trade thanks
With TP at the next set of grid-level (approximate 6 levels up or down), there will be very few trapped trades. In case, we have rarely trapped trades, we can simply take SL at the next level.

Merka Jun 10, 2020 12:21pm | Post# 9

{quote} Hello Emonts. I have thoroughly backtested this EA with visual mode, it is working according to the strategy; however, 2 modifications are required to avoid trapped trade because DD is coming from trapped trades, 1st, we need to move TP of pair (buy and sell) from next grid to 8th grid. As shown in the excel sheet and image above. 2nd, we need to add SL for trapped trade at next grid level. Can you please look into this? {quote} With TP at the next set of grid-level (approximate 6 levels up or down), there will be very few trapped trades....
Just an idea I was evaluating with Kingslay is to use a new SYL sequence to solve trapped trades issue

KashifNawaz Jun 10, 2020 12:29pm | Post# 10

Let's try again to cruck this old idea. Thanks for sharing again. Cheers
Will need you my friend to complete this project

Welcome back, Kashif! Nice to see a familiar face. Good to see you still chugging along with hedge / martingale. Intrigued to see how this progresses.

Nice to see comments from an old buddy. How you doing man? yes, one should never stop chasing his dreams.

KashifNawaz Jun 10, 2020 12:31pm | Post# 11

{quote} Just an idea I was evaluating with Kingslay is to use a new SYL sequence to solve trapped trades issue
Excited to get details about that


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