‏Take 1435 positions Every Day in GBPUSD

As I understand, you open a new trade at the start of a new bar. So, on a 1m time frame, you open a new trade every minute.

If the previous bar closes up, you open a new long trade with a TP of 80, and a SL of 20.
If the previous bar closes down, you open a new short trade, again with a TP of 80, and a SL of 20.

You don't close trades when you open new ones. So you might end up having 15 long trades and 20 short trades, all going at once, or more.
The trades close themselves when they hit TP or SL.

My broker has a limit of 100 open trades, which I reach easily, using this system (on on demo of course).

It's an interesting system, following the price. If price is going down, go short, etc..., the problem is that if your trade doesn't hit TP quickly, and price wanders away, the reason for you entering that position is no longer valid, and more often than not hits SL.

I think the system needs more room for the trades to work, such as a wider SL and a closer TP, lock in that profit quickly, without hitting SL.

Ultimately, it didn't work for me, just made big losses.

Hi Alfredo

So what do you think then????

Got any ideas how to make this work better????

Hi Saleh33

I have been trying to backtest your ea on strategy tester but can't get the results that you have, I must have the settings wrong???? Can you post the settings for the ea that you used to get these results??

Also can't get the EA to run on demo at all???? Any suggestions????

Many thanks Clive.

I'm still playing around with this trading idea and made my own EA to test it. I haven't been able to make it profitable, but I think it has potential. Sometimes, it's up $200 - $300 in an hour, and later its all gone and then some. Maybe someone can fine tune it.

It still uses the basic idea, open a new trade every new bar, go LONG if the previous bar was up, or SHORT if the previous bar was down.

Its default setting is to trade 26 pairs at once, all though you can turn it off, and just trade the one chart the EA is attached to. Just attach it to any chart, preferably one with a fast moving price, such as EURUSD. And use a black background so you can see the trade data, such as number of open trades, profit, account balance ...

Once you reach your broker limit for the maximum number of trades you can have open, for me it's 100, it won't open any more trades. As positions close, and there is less than 100 trades open, new trades will be opened when the EA determines it time to do so.

I notice it tends to work better at busier times, such as the London open.

Interestingly, I've had it running on two demo accounts, at the same time. Same broker, same default settings, started at the same time, left going all night.
The only difference was when one account went LONG on a new bar, the other account went SHORT. (ie: I reversed the idea of going LONG if the previous bar was up, I went SHORT instead). So if one account had a big loss, you would think the other would have a big win. Nope. Both had big losses.

I think it really needs to find the right balance between Stop Loss and Take Profit, such as SL = 5, TP = 20, or SL =6 and TP = 15 .....
Don't close the losing trades too quickly, give it room to move, but then don't have too large a SL thus suffering big losses. Or, maybe taking small profits before the trade has a chance to turn around and go bad, (ie: TP = 4). Or have a small SL, cut loose those losers, and a large TP and let the profit run.

Maybe it is best to use for a couple of hours, such as around the London open time, take the $200 - $300 and don't let it go all night as the market quietens down.

Ideas for improvement welcome.

Good luck, and if you find some optimal settings, post them here for us all to use.

***** BTW, this EA opens multiple positions on each pair being traded, for example, LONGS and SHORTS at the same time, and close trades as they hit their SL or TP. If your broker is FIFO or doesn't allow hedging, it won't work for you. *****

can you make a simple filter so that it opens trades only in the direction of the daily candle and maximum trades in a range, for example if there are more then 3 positions open ina ten pips range,- do not open new trade. Also a moving average filter could help to filter som trades which are late in the trend, to not get killed when price reverses.

martingale....need big pockets and has huge draw downs

is this equvelant to say:

anytime you enter the market, check previous minute's down or up, place an order according to it with SL/TP as 20/80, and you'll end up more winning than losing???

if yes, then it is against my observation and impression of the forex market.

okay, i see it. start the system following a determined/obvious/unhesitant/strong daily bar, you will be rich soon. seemingly. golden to me...

And, did it work out in the end and made you rich yet?

Old thread, i know.

Surfing the forum.

Alternative solution:

Two indicators.

RSI SETTING 14

MACD 12,26,9

Selling: Begin selling at RSI over 70 close all sells at MACD zero line.

Buying: Begin buying at RSI below 30 close all buys at MACD zero line.

Potentially fatal.

Potentially life changing.

Edit.

Once Confirmed by RSI a better entry on MACD lower high and higher low.
Divergence.

MACD signal line outside histogram main.

Exit: histogram zero line

Example: End of week close of GBPUSD 1H chart as of 4/11/2016

All above indicators as said in position.

Interesting to see how this pans out.

Although 1H to higher time frame for the thread strategy i think, but all things GBPUSD right now perhaps potential insight?

Your strategy is a real madness! But the results are looking good, keep it up. subbed

This is indeed a very crazy ideea!!!
Deploy the EA manualy after strong breakouts (wait for retracements first) in the direction of the breakout. Usualy a strong breakout leads to a new trend, so, deploy it in the direction of the trend. TF does not matter, every TF has breakouts and trends but the bigger the TF the better.
Regards!

P.S. Don't filter the signals with RSI and MACD or any other oscilator because it will give you many false signals.

Thanks Sir I will try it on demo

Is random trading profitable ...

16.5 thousand trades in 7 months. 10,000 to 55,000
No indicators or strategy/methodology. Risk management is the new edge.

Oook, now go to live account

Same thing ...

http://www.forexfactory.com/showthre...33#post9233233

Could you share this EA ?