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DislikedJust started tring this sytem for scalping while waiting for another system I use on the dailys only...I have made around 10 trade today and all positive so far...Ignored
DislikedPersonally I prefer shorter TP and SL.
I prefer let money on the table and got some profit than risk a lot of money to take all the possible profit.
There is not a perfect setting, but as we are scalping now I work with
TP: 8
SL = 20 to first order and
TP = 8
SL = 10 to second order.
When first order reaches TP or SL I close all the Trades.
About martingale, If you do not double the initial lot size you will risk less money to get the initial desired profit.
I will test LOT1 = 1 and lot2 = 1.
(in case of loss = 1 * 20 + 1 * 10 = -3%
in case of profit = 1 * 0 + 1 * 8 = 2.5% )
Today I use : LOT1 = 0.1 and lot2 = 0.2.
(in case of loss = 1 * 20 + 2 * 10 = -4%
in case of profit = 1 * 0 + 2 * 8 = 5% )
As you can see the Risk Reward Ratio is more interesting if you do not double initial position to second step.Ignored
DislikedHello Forturama,this is a good system! I tried it this morning made pips without ea,I would rather trade it manually.thank you for your system, I never looked at this pair before!Ignored
DislikedThe advantage of doing this manually is that you may use price action.
See the first trade of this night, I could win 3 times the actual profit, but I was sleeping, and the EA closed the order without reversion signal, it uses simply SL and TP. Why not trailing stop? I will see this.Ignored
DislikedYes there was a lot of movement last night, and the EA gave some nice trades, even though one of them was a loss, still the average ended up in a profit.
A trailing stop would be a nice option in the EA. Unfortunately I am not good at programming, otherwise I would try to implement this in the EA. Anyone that could give us a hand with this?Ignored
DislikedHi you forgot tell us who is your broker.
I do not like trailing stop. I will add TL to the EA and post it here soon.
We are scalping, so even during Asian, we should not try to get all the pips the market offers. The ideal is averaging and avoiding loses.Ignored
DislikedHi,
My broker is IBFX. The EA took 3 winning trades last night, so it was a pleasant surprise to wake up to. I do not like trailing stops either when it comes to scalping, but it would be nice to test it, to see if it will be profitable. I also prefer small but consistent winnings, even if one unfortunately can't make positive pips every day. Looking forward to the EA.Ignored
Dislikeda tight trailing stop, say, 10 pips (20$ value), may produce some surprises.
but it is not advisable for one position.
you may place 2 positions, 1 position with TP like 10 pips, then another position on trailing stop.
this is not a high-winning-ratio system (70%+ hit rate, depends on TP/SL ratio), so a trailing stop may be valuable.Ignored
DislikedHi, just tried both the EA and alert indicator and both these make my MT4 crash due to a fatal error. Any ideas what could be causing this. I am running Vista.Ignored