Just to save few pips from spread, I was thinking it could be a good idea fixed a TP in percentage (let's say 4%) to avoid to close orders every 4Hours , because if next orders are the same as previous one , we are paying twice the spread for closing and reopening.
Just look at this screens :
http://img373.imageshack.us/img373/2...xh41200rb3.jpg
as you can see there's listed actual running basket (upper) and previous one (lower), what I did on previous 4H candle was to close all basket and reopen a new one when 4H starts. But as you can see some orders was in the same direction from old basket to new basket like AUDCAD, AUDCHF, AUDJPY, GBPCHF,GBPJPY,GBPUSD,NZDCHF,NZDJPY,NZDUSD , so I paid twice the spread on those 9 pairs that's around 79 pips !
Edit : Another thing I was looking to, related to spread is that total amount of spread for all trades opened could be very different at different time due to some cross currency with high spread (like EURNZD, EURAUD,NZDCHF and similar), I see tot spread range from 100 to 250 pips for the above 13 pairs listed! Thus an idea could be to take note of normal spread for each pair so to have total spread and then set a maximum deviance from this value to let open the basket , so we open basket only when spread is not so much high. Let's say normal spread for current orders is 100 pips then if actual spread is more than 150 pips we don't put the trade and wait until tot spread normalize.
What do you think on this ?
Cheers,
Skyline
Just look at this screens :
http://img373.imageshack.us/img373/2...xh41200rb3.jpg
as you can see there's listed actual running basket (upper) and previous one (lower), what I did on previous 4H candle was to close all basket and reopen a new one when 4H starts. But as you can see some orders was in the same direction from old basket to new basket like AUDCAD, AUDCHF, AUDJPY, GBPCHF,GBPJPY,GBPUSD,NZDCHF,NZDJPY,NZDUSD , so I paid twice the spread on those 9 pairs that's around 79 pips !
Edit : Another thing I was looking to, related to spread is that total amount of spread for all trades opened could be very different at different time due to some cross currency with high spread (like EURNZD, EURAUD,NZDCHF and similar), I see tot spread range from 100 to 250 pips for the above 13 pairs listed! Thus an idea could be to take note of normal spread for each pair so to have total spread and then set a maximum deviance from this value to let open the basket , so we open basket only when spread is not so much high. Let's say normal spread for current orders is 100 pips then if actual spread is more than 150 pips we don't put the trade and wait until tot spread normalize.
What do you think on this ?
Cheers,
Skyline
