let's go where the price goes

hello, all!

i want to share with you a idea of tradind, it isn´t new and it isn´t mine.

the idea is to go with the price where he wants to go and to add positions with the trend

only price based system, no indicators, no timeframes

see the image:



the idea is to open many pending orders, buystops above the price and sellstops below, the distance between the order can be 20,30,40 or whatever number of pips that you want.

everytime that one pending order is reached we open two new pending orders buy stop above and sell stop below.

there isn´t a predetermined take profit, the stop loss is the distance between the pending orders.

everytime price reaches a new level we put the previous order at break even, every pending order has his own break even, not the break even of the last level for all the orders.

money management is the most important, with this system we can have up to 100 open orders and acumulate a lot of little losses.

the exit can be in a x number of pips, a x% of the account or simple when you think that it´s enoght for you.

here an image how the system works.

This sounds to me! I put it in another forum.

yes, i told in the first post that the idea it,s not mine.

but you don´t want to share it.

this idea need to be coded in an EA. because has to maneged a lot of open orders and monitoring the market 24h a day

i think it isn´t very dificult, but i´m not a coder.

ninpojutsu has the ea but he tells me that he don´t want to share.

if ninpojutsu change his opinion, we are open for him and can send us a link to his post

we can trade this system in short term or long term trading depending the distance between the orders.

searching for 200 or 5000 pips

in a trend of 200 pips we can capture 800-1000 pips. as you can see in the fist post image.

in ranging markets we can acummulate a lot of losses but price usually don,t stay in the same site many time.

hi there.
On this website you have several ea's working this way.
A good one is the snowball that is posted in this forum.
Not that I want to share, it's just hard to explain how I manage orders.

Thanks for your interest.

and usually there isn´t big drawdows because there is always open orders whit floating pips.

i have nothing personal with you, ninpojustsu.

don´t tell us it´s hard to explain. you have a lot of threads open in this and other forum explainig a lot of systems, a lot of ea´s and you asked in this forum for an EA to do this.

now you have it, if you want to share, you are welcome, if not, no problem.

i started this thread trying to develop an ea for this system.

nothing more.

new ideas and coders are welcome.

it mean that this strategy work

is it pyramid system ? How do you decide when to pyramid your position

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Gartley pattern forecast forex

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yes, it´s a pyramid system.

you choose what range want to use and you add when next level is reached,

only price based system not indis

in my trading i only use s/r and trendlines and when i think a new trend has begun then start to add lots every number of pips.

if you are in the wrong way, no problem because when you loose one entry you began to acumulate in the other direction.

the worst scenary is a large ranging market.

you can see in the first image, in a downtrend of 300pips between 25/11 and 30/11 more than 10 position are alive whit a result of more than 2000pips

in this case the range is 20 pips, you may lost 100 positions or more to not earn money.

this is a pyramid system.

but in diferent whit other system we only pyramid winner trades.

there aren´t floating lossers.

if there is a change in the direction of the trend the open trades one by one began to close in break even while the opposites orders began to accumulate pips.

this is a system who let the winners run, and cut the lossers quickly.

with this system you always take the trend!!!

no matter when or where the trend is, you always catch it!!!

Just need a boost after much waiting!

thank you very much, ninpojutsu.

How does this approach exactly work ?

Let us say you buy eur/usd at 1.3500. You then place a sell order at 1.3480 and a buy order at 1.3520. If price goes up to 1.3520 the buy order is triggered - what do you do with the previous sell order at 1.3480 ? Cancel it ?

And do you then place a buy order at 1.3540 and a sell order at 1.3500 ?

Quote:
Originally Posted by globalinvest http://cdn.forexfactory.com/images/buttons/viewpost.gif
How does this approach exactly work ?

Let us say you buy eur/usd at 1.3500. You then place a sell order at 1.3480 and a buy order at 1.3520. If price goes up to 1.3520 the buy order is triggered - what do you do with the previous sell order at 1.3480 ? Cancel it ?

And do you then place a buy order at 1.3540 and a sell order at 1.3500 ?

ok, your example.

you buy eu at 1.35, then you place a buy order at 1.3520 and a sell order at 1.3480. when you reach 1.3520 your previous order is trigered. the previous buy is set at break even, the previous sell order stay and you open 2 new pending orders 1 buy order at 1.3540 and a sell order at 1.3500.
you can only loss 20 pips every time.

if trend continues up and triger 1.3540 you put your buy 1.3520 at break even and places 2 new pending 1buy at 1.3560 and one sell at 1.3520.

in this moment you have 3 open order 1.3500 in break even 1.3520 in break even and 1.3540 runing whit a sl at 1.3520.

you are risking only 20 pips everytime.

and if trend change you loose 20 pips all the others ordes begin to close at break even while you star to acumulate pips whit the sell orders.

With 50 pips more, all multiply!