My 30 pips move EA.

Hello to all FF members,

As I am not old here, I just joined the forum before a week or so but I am continuously visiting the forum for about a year. I am practicing forex for about 1 and 1/2 years, over all $200 loss. I trade in micro lots. Still doing and looking for profits.

I am looking for new indicators to apply on MT4 since time I know about ForexFactory. I found some good ones but now I dont have principal to trade on. Mean while I was observing the market changes using MT4, I came across an idea, may be you people laugh at me for this, but I did what I observed and thinking more about it. As I dont know about financial markets so my expectations can be wrong, in this case you can help me to improve my system as you have better experience than me.

Here is my Method.
TimePeriod: M30
Symbol: any pair
Sell: if bid price moves 30 points up from the opening price of the current candle .
buy: if ask price moves 30 points down from the opening price of the current candle.
TakeProfit: 12
StopLoss: 30
Why? Because I have observed that when a candle moves in this type way, mostly it move back for about 14 to 20 pints, so it is easy to get 12 points.

I got this idea myself and program it into an EA.
My EA works in two modes.
1) It opens only one trade/account and waits for that to close for new trade.
2) It opens one trade/symbol and waits for that to close on the current symbol for new trade.

I complete it yesterday, I applied it and I won 7 trades for avg. 12 pips on demo account.Not big success but a hope. I need your help if my idea is some where good, bad or avg. How can I improve it?

Use it yourself and tell me about its success.
Here are the variable settings:
Lots: size of lot
pipsMove: how many pips should it move up or down before a new trade
stopLoss: your S/L
takeProfit: your TP
singleTrade: "true" for only one trade at a time, "false" for one trade on each sysmbol on it is attached at a time.

I recommend to use it on M30 with default values, but you can modify it for any TimeFrame according to your needs.

I need your views that what you think about it.
Was I wrong or right?

Bro just my 2 cent I have been writing a auto trader EA myself.

Never run a auto trade EA where the SL is greater than the take profit.

That is just test, Up to this time I have won 8 from 9 auto trades.

good job bro

Some changes:

pipsMove: 40
stopLoss: 20
takeProfit: 20
singleTrade: true

Probably better now that the reward:risk is 1:1.

kijkij,

Thanks for sharing this intriguing idea with us.

For Take Profit, do we add the broker spread? In other words, with the new rules, if I am trading GBP/JPY, my broker's spread is usually about 8 pips. In this case the price would have to move 28 pips in my direction to be profitable. Unfortunately, you no longer have a risk/reward ratio of 1:1 if that is your goal.

I imagine that your strategy works best with currency pairs that have a low broker spread like EUR/USD that is normally only .9 with Oanda.

Which currency pairs seem to work best for you?

Thanks,
Bob

I guess that their is on need to open one trade Per account ????
how can i disable this option kijkij?

Set SingleTrade value to "true"

http://www.6thorigin.com

I'm testing it right now on the EURUSD M30 since today.

soon the response...

i uploaded on my server, and i am testing it with most of the pairs in order to find the best one,

he kijkij wanted to know if your still trading your ea? and how profitable is it for you?
what currencies are you trading ?

lot of questions and hopefully get some answers coz i think it is a intersting observation what you made

thank you

When I started this thread, that time I was learning Forex but some of my personal reason I left the use of net and forgot this thread and also lost my EA code. I am again active for some time so suddenly today I remind about this thread.

So,
Who like/dislike my strategy to begin the FX?

I like it . I'm with you over at the E/D 1 hr EA. also. Tell me what you think now of this one. I haven't tried it yet but will come Monday.

Hi. Appreciate share your ea ? im looking for that ea.