Hello fellow traders,
I would like to ask someone very kindly to make an EA based on Graeme's Grid Concept because I think on the long term it would be profitable. The only modification I want to add is a 50 pips grid instead of 100.
His rules were these:
1. If price comes from a lower .00 (hundred) to a higher .00 then buy (example: if price comes up from 1.5400 you buy at 1.5500)
2. If price comes from a higher .00 (hundred) to a lower .00 then sell (example: if price comes down from 1.5400 you sell at 1.5300)
3. Every trade is entered with 2 lots.
4. Both lots have a 100 pips SL.
5. One lot has a 100 pips TP, the other doesn't have a TP.
6. Stop-losses don't move because when the first lot TP hits the trade is free.
7. Do this every time price hits a .00 level.
8. The only thing that makes this profitable is the discretionary profit taking of the second lot.
After looking at many many charts I concluded that using 50 pips instead of 100 would bring some improvement to the ranging periods because it's kind of hard for the price to range for a long time between 50 pips, so some orders would hit breakeven faster instead of reversing to a SL.
Also, in a trend you would have double the number of positions than when using 100 pips. Just add up the pips for a 300 pips move and you would have 1050 pips profit. That would easy offset for the losses required to catch the move.
I need a simple EA, nothing fancy, just a setting to modify the number of lots traded.
Important, please keep in mind I want the EA to buy and sell at every 50 pips, so every .50 and .00 level and use a 50 pips SL and TP according to the rules.
I would truly appreciate it if someone could code this. Thanks.
I would like to ask someone very kindly to make an EA based on Graeme's Grid Concept because I think on the long term it would be profitable. The only modification I want to add is a 50 pips grid instead of 100.
His rules were these:
1. If price comes from a lower .00 (hundred) to a higher .00 then buy (example: if price comes up from 1.5400 you buy at 1.5500)
2. If price comes from a higher .00 (hundred) to a lower .00 then sell (example: if price comes down from 1.5400 you sell at 1.5300)
3. Every trade is entered with 2 lots.
4. Both lots have a 100 pips SL.
5. One lot has a 100 pips TP, the other doesn't have a TP.
6. Stop-losses don't move because when the first lot TP hits the trade is free.
7. Do this every time price hits a .00 level.
8. The only thing that makes this profitable is the discretionary profit taking of the second lot.
After looking at many many charts I concluded that using 50 pips instead of 100 would bring some improvement to the ranging periods because it's kind of hard for the price to range for a long time between 50 pips, so some orders would hit breakeven faster instead of reversing to a SL.
Also, in a trend you would have double the number of positions than when using 100 pips. Just add up the pips for a 300 pips move and you would have 1050 pips profit. That would easy offset for the losses required to catch the move.
I need a simple EA, nothing fancy, just a setting to modify the number of lots traded.
Important, please keep in mind I want the EA to buy and sell at every 50 pips, so every .50 and .00 level and use a 50 pips SL and TP according to the rules.
I would truly appreciate it if someone could code this. Thanks.
