Hi,
I have been looking at this simple method for the last 6 months.
I would like someone to test it through an ea to prove to me that it doesn't work. (since most methods lose eventually).
It is a 1 minute chart of the eur/usd with a grid of spacing 14 pips and vertical 15 minute segments.
It will be traded uk session only from 8am gmt to 4pm gmt.
First trade is opened when the price has moved 14 pips on the grid ( see sell exmple) close trade when hits next grid line.
If trade goes against 14 pips the trade is closed and reversed at 2 lots.
if this does not reach target but then goes into the next 15 min segment the trade is reversed but goes back to 1 lot, then repeats the process over again. It reverses and doubles only once, not martingale strategy.
Once the trade has completed, you must wait for the next 15 minute segment to initiate the next trade and it must have moved to the next 14 pip grid line from where you closed the last trade.
If two consecutive trades have lost then next trade will initiate after 28 pips from last traded price, this is to avoid being caught in a range.
Why do I think this may work?
This method doesn't rely on indicators unless you call a grid an indictor!
Doesn't rely on trending market.
No significant drawdown period.
One further thing is that 'some' of the trades are obviously not the right trades to place, so my thoughts are when the ea takes the trade I trade against it.
So it would be good for someone to code an ea for this and prove me wrong!
ps mods move this if it is in the wrong place, ie programming discussion?
Cheers J
I have been looking at this simple method for the last 6 months.
I would like someone to test it through an ea to prove to me that it doesn't work. (since most methods lose eventually).
It is a 1 minute chart of the eur/usd with a grid of spacing 14 pips and vertical 15 minute segments.
It will be traded uk session only from 8am gmt to 4pm gmt.
First trade is opened when the price has moved 14 pips on the grid ( see sell exmple) close trade when hits next grid line.
If trade goes against 14 pips the trade is closed and reversed at 2 lots.
if this does not reach target but then goes into the next 15 min segment the trade is reversed but goes back to 1 lot, then repeats the process over again. It reverses and doubles only once, not martingale strategy.
Once the trade has completed, you must wait for the next 15 minute segment to initiate the next trade and it must have moved to the next 14 pip grid line from where you closed the last trade.
If two consecutive trades have lost then next trade will initiate after 28 pips from last traded price, this is to avoid being caught in a range.
Why do I think this may work?
This method doesn't rely on indicators unless you call a grid an indictor!
Doesn't rely on trending market.
No significant drawdown period.
One further thing is that 'some' of the trades are obviously not the right trades to place, so my thoughts are when the ea takes the trade I trade against it.
So it would be good for someone to code an ea for this and prove me wrong!
ps mods move this if it is in the wrong place, ie programming discussion?
Cheers J