Hi all
Here is a simple straight forward grid strategy that I believe would be profitable if you have enough equity in your account. (+- $2000)
This system would be best traded on volatile pairs where there is a lot of movement in the market ED.
Use 1 HR TF
The grid is set at 75 points above and 75 points below the current market price. The current MP can be set to when one would like to start trading at a certain FX pair value OR at a certain time i.e London Open / Break out etc etc.
Rules:
-Place pending BUY and pending SELL orders at 75 points either way of the current market price. Lot size to be 0.01 for both these pending orders
-Whichever order line is triggered would set the opposite pending order to be cancelled at 0.01 and immediately to be changed to the next required lot size i.e 0.02
-Each order's SL is set 150 points away which is equal to the opposite new order's open position. See PDF attached for clearer understanding. This means that once a SL is hit a opposite direction order will be opened.
-TP is fixed at 400 points for either BUY & SELL directions.
-Once TP is hit, the grid strategy should start afresh on the next candle. (This is not compulsory but could be profitable when a trend might be forming)
-DO NOT use trailing stop as this might be triggered before showing green pips.
The PDF attached shows 30 points spread. This was taken for a broker with higher spreads than the norm to assist me with some calculations.
Order numbers and their lot sizes as per attached example can be changed to your liking (or bankroll)
Below lot sizes are for the smaller account traders
1 - 0.01
2 - 0.02
3 - 0.03
4 - 0.04
5 - 0.06
6 - 0.09
7 - 0.13
8 - 0.20
9 - 0.30
10 - 0.44
11 - 0.66
Please feel free to leave positive remarks.
IF ANYONE THINK THIS STRATEGY IS GOOD ENOUGH TO BE CODED AS AN EA PLEASE FEEL FREE TO CODE AND LEAVE IT OPEN SOURCE.
Here is a simple straight forward grid strategy that I believe would be profitable if you have enough equity in your account. (+- $2000)
This system would be best traded on volatile pairs where there is a lot of movement in the market ED.
Use 1 HR TF
The grid is set at 75 points above and 75 points below the current market price. The current MP can be set to when one would like to start trading at a certain FX pair value OR at a certain time i.e London Open / Break out etc etc.
Rules:
-Place pending BUY and pending SELL orders at 75 points either way of the current market price. Lot size to be 0.01 for both these pending orders
-Whichever order line is triggered would set the opposite pending order to be cancelled at 0.01 and immediately to be changed to the next required lot size i.e 0.02
-Each order's SL is set 150 points away which is equal to the opposite new order's open position. See PDF attached for clearer understanding. This means that once a SL is hit a opposite direction order will be opened.
-TP is fixed at 400 points for either BUY & SELL directions.
-Once TP is hit, the grid strategy should start afresh on the next candle. (This is not compulsory but could be profitable when a trend might be forming)
-DO NOT use trailing stop as this might be triggered before showing green pips.
The PDF attached shows 30 points spread. This was taken for a broker with higher spreads than the norm to assist me with some calculations.
Order numbers and their lot sizes as per attached example can be changed to your liking (or bankroll)
Below lot sizes are for the smaller account traders
1 - 0.01
2 - 0.02
3 - 0.03
4 - 0.04
5 - 0.06
6 - 0.09
7 - 0.13
8 - 0.20
9 - 0.30
10 - 0.44
11 - 0.66
Please feel free to leave positive remarks.
IF ANYONE THINK THIS STRATEGY IS GOOD ENOUGH TO BE CODED AS AN EA PLEASE FEEL FREE TO CODE AND LEAVE IT OPEN SOURCE.
Ask and you look stupid for 5 minutes. Don't ask and stay stupid forever.
