00 & 50 level straddle system

Hello FF members. I would like to post a system that I have been thinking about and would like to share for testing.

Pair: EUR/USD
Straddle levels: x.xx00 & x.xx50
Buy or sell levels: x.xx25 & x.xx75
TP: 25 excluding spread
SL: 25 including spread

Rules for opening a trade:

Price rises or falls and touches a straddle level will be our signal to place our buy and sell pending orders.

EX 1: price rises and touches x.xx00, then place a buy stop at x.xx25 (above the signal level) and a sell stop at x.xx75 (below the signal level)

EX 2: price falls and touches x.xx00, then place a buy stop at x.xx25 (above the signal level) and a sell stop at x.xx75 (below the signal level)

EX 3: price rises and touches x.xx50, then place a buy stop at x.xx75 (above the signal level) and a sell stop at x.xx25 (below the signal level)

EX 4: prices fall and touches x.xx50, then place a buy stop at x.xx75 (above the signal level) and a sell stop at x.xx25 (below the signal level)

Once a trade has been executed, cancel opposite pending order.

MM: Labouchère system, also called the cancellation system. Use web search for more info. I will provide details if needed.

I will start with $5K standard account and trade micro lots ($.10) per pip and compound using fixed fractional while still using the cancellation system.

I am limited to trading time so I will miss some oppurtunites. An EA would be very helpful in taking in all the trades. Good luck!

One thing about the cancellation MM is that it takes a system win rate of 33% to break even. If the system has a lose, the next position size always covers the top trade and last trade on the list. Very interesting approach.