Hi all,
Thanks for all your assistance thus far. I think I have taken my programming skills to the limit and need some help finishing my concept. So far I am trading this manually which is a bit challenging.
I have an EA that I am trying to build with the following rules:
Will take bi-directional trades using trailing stop gap entries at all times which is somewhat like Snowball from 7bit. Trades will be spaced at the trailing stop distance + 2 pips (Trailing Stop below = 9 pips, so my entries will be spaced 11 pips away).
Trailing stops are calculated off minimum reentry distance above bid/ask (long/short). For example on forex.com minimum trailing stop would be about 9 pips from price on GBPUSD (4 pip spread + 5 minimum change (MODE_STOPLEVEL).
Then, all orders will be relieved (some with good profit, others with a few pips), but one order on every major pivot will not get relieved and will be 'stranded' as an 'orphan' trade. The concept is to then use a long term martingale multiplier feature to match up that trade with one 200 pips away in the same direction. Then set the TP on both of those trades (basket) to match and set for BE + a few pips. It could go many levels deep to hit recovery and this is for Nano or large micro accounts of 10K for just GBPUSD.
GBPUSD does well in that it typically always gets a 50% retrace within 500 pips.
Long Trade 1 = 1.00 (out at TS of 7 pips profit)
Long Trade 2 = 1.10 (out at TS of 4 pips profit)
Long Trade 3 = 1.20 (goes 3 pips up, then reverses)
Long Trade 3 gets orphaned and the market goes short for quite a few pips (240).
All the while, taking shorts and making pips. Once 200 pips (or whatever you choose) from trade 3 occurs, then it enters a .02 lot (1.5 time multiplier) and matches the TP to BE + 10 pips for these to trades.
I believe this will create a significant drawdown, but as long as you are not overleveraged, then you will have enough cash to work your way out on retracements.
I would like if one someone could help me finish the EA and create a system to test and share. I have done a lot of backtesting and forward testing on the NanningBob system w/ martingaling out on large timeframe of 200+ pips using 22 different currencies and it typically survives the biggest of runs with no problem.
I have started most of the basics, but as you can see, I have taken it as far as I can with my limited MQ4 programming abilities. I know it doesn't function in its current state, but I thought I could get it there much more quickly than I am.
This system should be traded off any chart as it is not indicator specific.
Thanks for any help and assistance!
Aloha!
Thanks for all your assistance thus far. I think I have taken my programming skills to the limit and need some help finishing my concept. So far I am trading this manually which is a bit challenging.
I have an EA that I am trying to build with the following rules:
Will take bi-directional trades using trailing stop gap entries at all times which is somewhat like Snowball from 7bit. Trades will be spaced at the trailing stop distance + 2 pips (Trailing Stop below = 9 pips, so my entries will be spaced 11 pips away).
Trailing stops are calculated off minimum reentry distance above bid/ask (long/short). For example on forex.com minimum trailing stop would be about 9 pips from price on GBPUSD (4 pip spread + 5 minimum change (MODE_STOPLEVEL).
Then, all orders will be relieved (some with good profit, others with a few pips), but one order on every major pivot will not get relieved and will be 'stranded' as an 'orphan' trade. The concept is to then use a long term martingale multiplier feature to match up that trade with one 200 pips away in the same direction. Then set the TP on both of those trades (basket) to match and set for BE + a few pips. It could go many levels deep to hit recovery and this is for Nano or large micro accounts of 10K for just GBPUSD.
GBPUSD does well in that it typically always gets a 50% retrace within 500 pips.
Long Trade 1 = 1.00 (out at TS of 7 pips profit)
Long Trade 2 = 1.10 (out at TS of 4 pips profit)
Long Trade 3 = 1.20 (goes 3 pips up, then reverses)
Long Trade 3 gets orphaned and the market goes short for quite a few pips (240).
All the while, taking shorts and making pips. Once 200 pips (or whatever you choose) from trade 3 occurs, then it enters a .02 lot (1.5 time multiplier) and matches the TP to BE + 10 pips for these to trades.
I believe this will create a significant drawdown, but as long as you are not overleveraged, then you will have enough cash to work your way out on retracements.
I would like if one someone could help me finish the EA and create a system to test and share. I have done a lot of backtesting and forward testing on the NanningBob system w/ martingaling out on large timeframe of 200+ pips using 22 different currencies and it typically survives the biggest of runs with no problem.
I have started most of the basics, but as you can see, I have taken it as far as I can with my limited MQ4 programming abilities. I know it doesn't function in its current state, but I thought I could get it there much more quickly than I am.
This system should be traded off any chart as it is not indicator specific.
Thanks for any help and assistance!
Aloha!
Attached File(s)
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