Peak Trader - 1M Scalping

PEAK TRADER V1.01

Objective:
The idea behind this EA is to profit on small retractions in large price movements in the 1M time frame.

Inputs
EURUSD Only for now, i have not tested across any other pair.
TP: 10
Trailing Stop: 4
SL: adjustable (Level 1 is usually 15, level 2 & 3 are usually 15 or 20)
Starting Lot Size: 0.01


The strategy is to open trades when the current close price is +/- 15 pips higher/lower than the close price 2 minutes ago. At this point, you must open two subsequent pending orders 15 Pips apart in case the first retraction does not take place (levels 2 and 3). Opening 3 levels of trades allows up to a 60 Pip increase/decrease in price without a retraction before all trades are closed for a loss. This hardly ever happens except during large news announcements. It should be noed that this method works off the premise that prices do not infinitely go in a single direction, they may have a trend, but they will always retrace due to overbought and oversold levels.

Example: BUY when Close(2)-Close(0) ≥ 0.0015

Close(2) = 1.2580
Close(0) = 1.2565
BUY @ 1.2565 (level 1) .01 lots TP 10 SL 15
Open Pending BUY @ 1.2550 (level 2) .05 lots TP 4 SL 15
Open Pending BUY @ 1.2535 (level 3) .18 lots (have not tested with level 3 yet)

If TP or Trailing Stop is met in any trade, all remaining pending trades (if any) are closed. Wait 2 minutes before looking for next signal.
If Pending trade is open longer than 10 minutes, it must close and original trades TP is set to breakeven.

I have created an EA that executes Level 1 only. But i am not a programmer, so my EA is mediocre without constant monitoring. Obviously an EA should be easy to program for anyone with experience as there are currently no indicators used with this system. (I do use two indicators just for records - iHigh & iLow -- they show the Highs and Lows for any given minute... kind of helps when trading this strategy)

I have attached pictures to show this trading strategy.


Please note that this strategy is in its testing phase and is not yet complete. Any ideas or criticisms of this method are welcome. Feel free to DEMO this method for now.

To All: This is not a Grail. It is not holy. It will not get you rich quick. And I only advise demo testing for the moment. BUt it has shown signs of being profitable.

:::See above for details:::

After some parameter tweaks, and going back to the drawing board a bit, I have finetuned this system.

36 Pips collected today for a $7.60 profit.

Is that alot? no. But it's trading .01 lots.

Show me a consistent 36 pips per day and I'll show you a guy who turned $50 into $50,000,000

one trade was a loser because i wasn't around the comp to implement level 2 manually (still havent found the proper way to code it yet). but had i been it would have been a profitable trade in level 2 for another $.50 profit.


Perfect examples are posted below on that chart. Those two trades just took place ten & six minutes ago for a $1.40 profit.


One trailing stop was hit, one reached its full TP.

151 pips collected in 2 days.

perfect examples noted below. level 2 was needed for 4th trade but TP was reached in level 2.

four trades hit level 2, and since it isn't programmed yet, they all hit SL. However if Level 2 was programmed into the EA, every trade would have hit the TP in level 2. Therefore, we have 4 Trades hit SL, 10 Trades hit TP with original EA.

With level 2 we would have had a 100% win ratio thus far for a net profit of $45 trading .1 lots.


Two perfectly executed trades shown below.

I Guess the only way to show an EA works is to post results:

All -$15 trades would have profited in level 2 trading with the exception of 1 that hit level 3. They show SL because i do not actively manage this demo account.... only use it for testing purposes.

I'm not sure why we hit level 3 on that trade just yet.... will be looking into news releases...

If someone coded the correct EA we would have made well over $300 trading .1 lots since 11/26/08

Results Posted below do not reflect true trading of this method, only level 1.

Two trades hit level 1 Sl but recovered strong in level 2.

$484 profit on $5000 acct trading .1 lots if EA was set up correctly... if anyone is up to the challenge of making the EA better than what i have please PM me


I've attached the EA for all to see/edit/optimize... my setting are set solely for EURUSD, 1 M timeframe

Useless EA, don't waste your time.