Hello,
I have had this strategy on my computer for some time and recently discovered it again. Can a programmer please code this and post the EA here for all the members to test? I would appreciate.
Here are the system rules:
This system places trades as they hit either, 20 pips below London open or 20 pips above London open. This is not a two order straddle where you set two orders at separate points to enter trade and that’s it for the day. In this system you may enter 1,2,3,4 or even 5 trades in a day. But normally averages around 2 or 3.
I then trade 3 lots when either line is reached with 3 different profit levels. 14, 30 and 80.
1) Place Buy and Sell orders 20 pips away from London Open – 3 lots each
2) 3 take profit levels 14, 30 and 80 pips
3) Stop Loss is placed at London open. Once Profit targets 1 and 2 have been completed then you move your stop on the third lot to break-even
4) The above recycles itself through out the day every time the price goes back below or above as it may be the entry price.
5) All trades are cancelled at New York Close
Re-Entry Rules
As mentioned in step 4 you can re-enter as many times as you like. The only one rule is not to re-enter a trade in the same direction as your initial trade within an hour candel. This prevents whipsaws.
Example
1) London open = 1.8800 so Buy 3 lots at 1.8820 and Sell 3 lots at 1.8780
2) Take profit on lot one at 14 pips - Take Profit on Lot 2 at 30 pips – Take Profit on Lot 3 at 80 pips
3) Stop Loss is first placed at London open so 1.8800 once Profit 1 and 2 are taken you move your stop on the third lot to break even so 1.8820 or 1.8780.
4) If we are entered into a long trade and the market retraces back below 1.8820 and stops us out then a new order is placed again at 1.8820 with the same above parameters. The same is true if we are in a short trade and the market retraces back up and stops us out.
5) All orders are cancelled and rest at New York Close
I did not create this system, however, it seems logical since a given pair has to put in a daily range. Thanks again for the great support on this site.
I have had this strategy on my computer for some time and recently discovered it again. Can a programmer please code this and post the EA here for all the members to test? I would appreciate.
Here are the system rules:
This system places trades as they hit either, 20 pips below London open or 20 pips above London open. This is not a two order straddle where you set two orders at separate points to enter trade and that’s it for the day. In this system you may enter 1,2,3,4 or even 5 trades in a day. But normally averages around 2 or 3.
I then trade 3 lots when either line is reached with 3 different profit levels. 14, 30 and 80.
1) Place Buy and Sell orders 20 pips away from London Open – 3 lots each
2) 3 take profit levels 14, 30 and 80 pips
3) Stop Loss is placed at London open. Once Profit targets 1 and 2 have been completed then you move your stop on the third lot to break-even
4) The above recycles itself through out the day every time the price goes back below or above as it may be the entry price.
5) All trades are cancelled at New York Close
Re-Entry Rules
As mentioned in step 4 you can re-enter as many times as you like. The only one rule is not to re-enter a trade in the same direction as your initial trade within an hour candel. This prevents whipsaws.
Example
1) London open = 1.8800 so Buy 3 lots at 1.8820 and Sell 3 lots at 1.8780
2) Take profit on lot one at 14 pips - Take Profit on Lot 2 at 30 pips – Take Profit on Lot 3 at 80 pips
3) Stop Loss is first placed at London open so 1.8800 once Profit 1 and 2 are taken you move your stop on the third lot to break even so 1.8820 or 1.8780.
4) If we are entered into a long trade and the market retraces back below 1.8820 and stops us out then a new order is placed again at 1.8820 with the same above parameters. The same is true if we are in a short trade and the market retraces back up and stops us out.
5) All orders are cancelled and rest at New York Close
I did not create this system, however, it seems logical since a given pair has to put in a daily range. Thanks again for the great support on this site.
Congrats on the little one!! 
