FXTradepro: Strategy using a “Semi-Martingale” Position Sizing

Quoting gambler997

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the ea work like a charm. We have nothing to say exclude thanks for all the nice work you have done. You answer question rapidly with an well detailed explanation.
Personally
I set the ea to open a trade each night just before london open on eur/usd and I trade usd/jpy when I see an good oportunity
.

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Quoting FXTradepro

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Glad it's working for you gambler997......Others have traded my Strategy at the London Open with success also. I prefer that certain other conditions exist as well, as a safety precaution. Basically, I still look for Support or Resistance going into a Sequence.

Regards,

Dan

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Quoting jones247

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Dan,
How do you determine the ideal support or resistance points to enter the sequence? Would you consider using candle sticks or macd or some other indicator to determine the proper entry points? Perhaps using one of the other strategies in this forum to determine the right entry point would be a good strategy. Then use your model if the trade went against the individual. What do you think?

For me finding Support and Resistance points is a simple matter of drawing horizontal lines on my 30 minute candlestick charts at an area that price has touched a couple of times but has not penetrated. The only indicators I use are the ones Posted in this Thread, however, I am sure that any Trend following concept could work well. I am not an indicator "hound" and have determined that S/R works well for me. I also like to keep an eye on the Daily Ranges of the pairs I am watching to see if volatility appears to be increasing or decreasing. I also keep in mind what news events are happening on a particular day as I know the Market will likely move at that time. Putting all these things together is not as simple as A,B,C but can be learned by watching the behavior of the Market over a period of time. There are no shortcuts....


Also, would you be willing to consider a SL on every third sequence at a price above the entry point? I think this will lessen the required lots needed for a profit in the following sequence. Therefore you can then choose to extend your sequence beyond 24 or increase the lots (which includes profits) at each sequence.

I am always willing to consider any good, workable idea, however, I have developed this over the course of many years and have likely thought of just about everything. I am sure that there are minds far better than mine that could come up with something better, but I have not been able to. I am still not quite sure what you mean by the above idea....I understand that you are trying to make the Strategy safer in some way.

My only concern with this system is that the longer you remain in the sequence the greater the potential loss & the profit potential as a percentage of potential loss declines at an alarmingly increasing rate. Any thoughts from anyone on how to soften the blow after the 16th sequence, for example?

I always TRY to enter so that my trades would not get to a 16th Entry in the Sequence. Can't ALWAYS be done, but that has happened very rarely to me.

Nevertheless, this is a great system for success. However, one failure may be irrevocable... and that is the MAJOR hurdle!

Thanks,

Walt

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Quoting EATrader

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Hello Dan,

You said you trade 7 pairs. Which 7 currency pairs that you trade daily? Which pairs work well with the EA?

Thanks.

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Quoting FXTradepro

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I was just getting cranky criss.....Not gonna close it. If you are interested in some more in depth discussion email me or PM me.

Thanks,

Dan

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Quoting igotswansons

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Ahh.. I was waiting for someone to post this strategy as I have been trading it for a few months... the problem with this system is that anyone using an ea with mt4 as I have been doing will get screwed by the broker. The broker will widen their spread even when volatility is normal to spreads as high as 32 pips (this week with ibfx with gbpusd) and even if this is done for a few seconds, it will open and close several multilot trades within a single tick and you are out several hundred and even thousand pips... believe me, it works wonderful on demos when spreads stay low but everyday, all mt4 brokers will widen spreads on live accounts to insane amounts to screw people using these types of systems....Stop and think, if your sl is like 10-20 pips and the spread wides to 20, every tick your ea is opening a multilot trade and it is being closed by sl.. within seconds, you are down A LOT!!! Luckily, i was only down 500 or so pips since I had a safeguard for spreads in my ea... be very careful trading this live with an ea!!

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Quoting jimbo61

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I ran the EA on the USD/JPY last night around 11 pm central time.
It went to the 4th step before it took off and made some profit.
I bailed out a little before the 40 pip TP. I was able to lock in 30 pips manualy.

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Quoting BGazzoni

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Hi, i started yesterday a new approach with this system.

I made the lots bigger, also SL and TP too.

Here are the SL and TP for each currency:

EUR/USD, USD/CHF, USD/JPY, AUD/USD - SL=25 TP=60

GBP/USD - SL=33 TP=80

GBP/JPY - SL=66 TP=160

Lots size:

Initial Entry = MLOT10,22nd Entry = MLOT20,43rd Entry = MLOT30,64th Entry = MLOT40,95th Entry = MLOT51,36th Entry = MLOT61,97th Entry = MLOT72,78th Entry = MLOT83,99th Entry = MLOT95,610th Entry = MLOT10811th Entry = MLOT1111,512th Entry = MLOT1216,713th Entry = MLOT132414th Entry = MLOT1434,515th Entry = MLOT1549

Note that the risk is higher but i think the system will close under the 10th entry.

And i attached the statement from yesterday.

The system is very nice, and i think the better session to get into this is the European cause it can go either way and you'll profit the same way.

I'll continue testing, what do you guys think about this way?

See ya

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Quoting jones247

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Hi BGazonni,

How much capital reserve do you have in this example? By the 15th entry how much capital would you have at risk to lose? I believe your risk/reward (capital amount at risk/profit amount) would be extremely high by the 15th entry point. What if you needed to "bail-out" after the 15th entry point (i.e. approaching margin call), what would you do?

Thanks,

Walt

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Quoting FXTradepro

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Hey BGaz......You can share your settings here. No Problem at all. So long as we stick with the basic premise of the Strategy, new ideas are welcomed.

The beauty of this Method is that it permits a high level of discretion and every Trader can modify to meet their own level of comfort.

Personally, I have had good success with my settings and it fits my style of Trading. Others are free to do what they will.

Dan

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Quoting BGazzoni

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Hi Walt, for this example you need $6,500 trading mini-account with 200:1.

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Quoting jimbo61

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I ran the EA on the USD/JPY last night around 11 pm central time.
It went to the 4th step before it took off and made some profit.
I bailed out a little before the 40 pip TP. I was able to lock in 30 pips manualy.

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Quoting jimbo61

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I ran it again last night on the same pair, starting at 10 pm Central time. This time I let it run until it hit the TP of 40 pips. It went to the 7th level before it took off. I think I needed to time my entry a little better, I actually entered near the middle while it was ranging between 3 cycles (15 pip H/L).

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