10 pips at a time? Promising strategy - EA Reqd

(Post Deleted)

That is a very interesting strategy, but I really don't think it would work without any additional indicators/timeframes. I will probably try to implement it sometime this weekend. I remember I tried something similar that heavily relied on stop orders...and it seemed to work for a while before it broke down.

What timeframe were you looking at? 1 hr.?

What I think you're doing is something called "grid trading"

Danoid --

thanks for the reply, from what I can tell, the timeframe is irrelevant but for visual backtesting i've been using a 1m line chart (see attachment)

Ronald Raygun --

thanks for the reply, do you know how well this works? Or if there are any E.As written similar?

20th January 2010 20:20 > 21st January 2010 0900
100 pips profit

(the horizontal lines are 10 pips apart)

I know it might seem like a good strategy...but basing it off of just a couple hours of testing over a few days really isn't conclusive. Also, I'm almost absolutely sure it won't work well without any additional indicators (and I'm pretty sure that it won't work well anyways).

But, I'm willing to give it a try, I'm always on the search for the grail....

If you searched the term "grid Trading" you'll probably find my EA.

i had try quite similar ideas in the past. At beginning seems very promising but Not really consistent profit over time.
Unfortunately missing the EA already.....

BTW, maybe with slight different variation will give different results.

Good luck!

May be we can try adding some indicators to see if the market is trending or trading and then take a trade or stop trading till it comes out of range. Can anybody code this

I'm 100% sure the EA would have to be implemented on a higher timeframe than 1 minute...there is no way that any combination of indicators could be accurate on that short of a timeframe.

Hmm, this is going to be a little harder than the average strategy to code - I can already foresee the need for some kind of a function that will round the stop entry number to the next highest or lowest ask or bid that is divisible by 10 (on a 4 digit platform).

Interesting strategy , and , well , I guess it doesn't matter in wich time frame you are using it , and I guess it doesn't need any other indicators as well , price action rules , I have a strategy that I just look at the graph and know time to buy and sell.

here u go..

http://www.forexfactory.com/showthre...t=grid+trading


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http://www.myfxbook.com/members/pc8multifx

NFA

Edited : sorry . posted in wrong topic
P.S.: It's a very good system

Any programmer check my post and see what can you do to make life of all us struggling traders easier
http://www.forexfactory.com/showthread.php?t=456547