Greetings,
I am a forex trader with 4 years of experience, and have tried all different method of trading. Some where profitable and others were not, but at all times, i was and still a big believer of the "Basket" system where my account profit/loss is not based on 1 trade only.
From here, the idea came to modify the "Never Loss Strategy" in the attachments to match my trading style and was tested manually for sometime and is very promising.
Please read the attachment to fully understand the original strategy before modifications.
I had a script programmed for that few years back, but had difficulties with the spread calculations (sometimes orders will hit the stop loss, but take profit is not triggered due to the spread difference between buy/sell). there were also other inputs missing by that time.
The modified system is as follows:
- Orders will be taken as mentioned in the original strategy, however, there will be NO stoploss/take proft "as it will be complicated due to spread". However, all orders will be closed once the basket reaches a profit target equivalent to 25-30 pips.
-Orders will be taken on pairs with low spread, and only during London/US seasons in order to prevent entering in ranging markets. Remember that you only need the price to move 60 pips in 1 direction to make profit!
- Only 1 order per pair will be entered everyday. Don't be greedy. take the 30 pips from that pair and leave the rest for tomorrow. if you enter multiple times, you are in risk of entering the 5th, 6th,...etc martingale orders as the market goes to sleep.
- Trade on multiple pairs. you should be able to profit from 4-5 pairs a day and gain 100+ pips.
Please share your comments and ideas. an EA will be totally welcomed in here as it can be time consuming to sit and monitors the orders since they have to be manually put.
I am a forex trader with 4 years of experience, and have tried all different method of trading. Some where profitable and others were not, but at all times, i was and still a big believer of the "Basket" system where my account profit/loss is not based on 1 trade only.
From here, the idea came to modify the "Never Loss Strategy" in the attachments to match my trading style and was tested manually for sometime and is very promising.
Please read the attachment to fully understand the original strategy before modifications.
I had a script programmed for that few years back, but had difficulties with the spread calculations (sometimes orders will hit the stop loss, but take profit is not triggered due to the spread difference between buy/sell). there were also other inputs missing by that time.
The modified system is as follows:
- Orders will be taken as mentioned in the original strategy, however, there will be NO stoploss/take proft "as it will be complicated due to spread". However, all orders will be closed once the basket reaches a profit target equivalent to 25-30 pips.
-Orders will be taken on pairs with low spread, and only during London/US seasons in order to prevent entering in ranging markets. Remember that you only need the price to move 60 pips in 1 direction to make profit!
- Only 1 order per pair will be entered everyday. Don't be greedy. take the 30 pips from that pair and leave the rest for tomorrow. if you enter multiple times, you are in risk of entering the 5th, 6th,...etc martingale orders as the market goes to sleep.
- Trade on multiple pairs. you should be able to profit from 4-5 pairs a day and gain 100+ pips.
Please share your comments and ideas. an EA will be totally welcomed in here as it can be time consuming to sit and monitors the orders since they have to be manually put.
Attached File(s)
