Best 10pips Method ever discovered...

Okay... it may not be the best, but its definetely the easiest. Anybody want to make an EA out of it?

http://freetradeideas.com/10pips.pdf

Just made an easy 10 pips with this...

http://postimage.org/image/n1xl306uj/

Anyone want to make an EA for this?

It could be a good method to trade on weekly highs/lows just with a adecuatly bigger sl/tp and at the same time adapted to volatility. Also same highs or lows can be traded several times as it still seems to have almoust the same significance. Actualy I am going to trade this way as forward test using sl of atr30 on H4 tf and with sl 50 persent bigger tp. I mean to trade weekly higs lows. For the last three monts there were no losses at all if to take only the first trades when the price touches these extremes. Somehow the daily highs/lows is not strong enough I think to trade with the same confidence. But i don`t mean it can`t be traded profitably in the long term.

I look forward to your forward test Just came out with GBPUSD. I took a little risk today using today's gap levels. It took more than 6 hours which was not supposed to be the case if traded with the Daily HL. Won't do it again

http://postimage.org/image/yqain4drb/

Cheers

I've made an EA for testing this document.

A simple EA(!) covering only the words which are said in that pdf was not profitable over the last month with different (fixed) S/L and T/P levels on D1 Basis. (using High Lows from the Day before)

Problem are mainly the fixed S/L and T/P. The "whip-saw" as he called it happens more often than he mention.

Only in dec '11 there were 3 times both S/L triggered. Widden the Test from 01.nov-31.dec then it were 9 times.

Every whipsaw causes a loss of 60 pip but you only make 50 pip a week (more or less) - as you can see putting this strategy into an EA doesn't work as long as there are fixed S/L and T/P.

Main Problem:

Order is triggered but Volatility is too low, so both S/L would be triggered (price bounces shortly between -30 pip range), triggering the S/L the drop occurs afterwards but the trades are gone and you got a loss of 60 pips.

And because that happens so often you keep the loss. I tried different S/L, T/P settings but the problem still exists.

Maybe if there would be a way to use a dynamic S/L,T/P that strategy could work on an EA (maybe recognizing volatlity).

A Friend did an EA for this: You can try with different settings if you like. Please do not ask me any configuration of this EA. Use at your own risks

The both missing (free) libraries can be downloaded from here:

https://sites.google.com/site/prof7bit/common_functions

http://sites.google.com/site/prof7bi...ine_charts-mqh

Request access please
Thanks

Hi Cashcalf,

don't know if you're still following up on your thread here, but, if you are, could you ask your friend to add some code to his ea so it would not only open buy stop and sell stop orders (at the previous daily high and low), but also a sell limit (at the previous daily high) and a buy limit (at the previous daily low)? Stop loss and Take Profit should be respectively 30 and 40 pips, for all orders. That's how it should be done, according to the pdf I've read about it - not the pdf attached to your thread, because that link doesn't work anymore, so can't even tell if yours differs from mine, which I'll attach here.



Edit: by the way, I've just noticed that this EA has some errors in it, when one tries to compile it again - listed below here. This could mean that the buy and sell limit orders are already coded into it, but don't work, due to missing variable declarations, etc. (I'm not a coder, otherwise I'd clean this up myself):

Compiling '10PipScalper.mq4'...
Function "shell" is not referenced and will be removed from exp-file
Function "log" is not referenced and will be removed from exp-file
Function "print" is not referenced and will be removed from exp-file
Function "stringReplace" is not referenced and will be removed from exp-file
Function "stringExplode" is not referenced and will be removed from exp-file
Function "intToHex" is not referenced and will be removed from exp-file
Function "makeMagicNumber" is not referenced and will be removed from exp-file
Function "bitRotate" is not referenced and will be removed from exp-file
Function "buy" is not referenced and will be removed from exp-file
Function "sell" is not referenced and will be removed from exp-file
Function "buyLimit" is not referenced and will be removed from exp-file
Function "sellLimit" is not referenced and will be removed from exp-file
Function "buyStop" is not referenced and will be removed from exp-file
Function "sellStop" is not referenced and will be removed from exp-file
Function "getProfit" is not referenced and will be removed from exp-file
Function "getProfitRealized" is not referenced and will be removed from exp-file
Function "getNumOpenOrders" is not referenced and will be removed from exp-file
Function "trailTargets" is not referenced and will be removed from exp-file
Function "trailStops" is not referenced and will be removed from exp-file
Function "lockProfit" is not referenced and will be removed from exp-file
Function "isOrder" is not referenced and will be removed from exp-file
Function "closeOpenOrders" is not referenced and will be removed from exp-file
Function "reducePosition" is not referenced and will be removed from exp-file
Function "moveStop" is not referenced and will be removed from exp-file
Function "moveOrder" is not referenced and will be removed from exp-file
Function "moveTarget" is not referenced and will be removed from exp-file
Function "getLotsOnTable" is not referenced and will be removed from exp-file
Function "getLotsOnTableSigned" is not referenced and will be removed from exp-file
Function "getAveragePositionPrice" is not referenced and will be removed from exp-file
Function "getLastProfit" is not referenced and will be removed from exp-file
Function "selectLastClosedTrade" is not referenced and will be removed from exp-file
Function "plotOpenedTradeArrow" is not referenced and will be removed from exp-file
Function "plotClosedTradeArrow" is not referenced and will be removed from exp-file
Function "plotClosedTradeLine" is not referenced and will be removed from exp-file
Function "formatOrderArrowInfo" is not referenced and will be removed from exp-file
Function "plotNewOpenTrades" is not referenced and will be removed from exp-file
Function "plotNewClosedTrades" is not referenced and will be removed from exp-file
Function "line" is not referenced and will be removed from exp-file
Function "horizLine" is not referenced and will be removed from exp-file
Function "vertLine" is not referenced and will be removed from exp-file
Function "text" is not referenced and will be removed from exp-file
Function "label" is not referenced and will be removed from exp-file
Function "labelButton" is not referenced and will be removed from exp-file
Function "crossedLineS" is not referenced and will be removed from exp-file
Function "crossedLineD" is not referenced and will be removed from exp-file
Function "crossedLine" is not referenced and will be removed from exp-file
Function "orderModifyReliable" is not referenced and will be removed from exp-file
Function "orderCloseReliable" is not referenced and will be removed from exp-file
Function "orderDeleteReliable" is not referenced and will be removed from exp-file
Function "isEqualPrice" is not referenced and will be removed from exp-file
Function "Symbol6" is not referenced and will be removed from exp-file
Function "getSymbols" is not referenced and will be removed from exp-file
Function "pointsPerPip" is not referenced and will be removed from exp-file
Function "isOldBar" is not referenced and will be removed from exp-file
Function "recordEquity" is not referenced and will be removed from exp-file
Function "updateOfflineChart" is not referenced and will be removed from exp-file
Function "emptyOfflineChart" is not referenced and will be removed from exp-file
Function "writeOfflineHeader" is not referenced and will be removed from exp-file
Function "writeOfflineBar" is not referenced and will be removed from exp-file
Function "readOfflineBar" is not referenced and will be removed from exp-file
Function "offlineFileName" is not referenced and will be removed from exp-file
Function "getAllProfitFiltered" is not referenced and will be removed from exp-file
Function "fileOpenEx" is not referenced and will be removed from exp-file
Function "fileCloseEx" is not referenced and will be removed from exp-file
Function "forceFileClose" is not referenced and will be removed from exp-file
0 error(s), 65 warning(s)

If someone else reads this post and feels like helping out, that would be great too!

Cheers