Profitable Grid Break-out Trading System(PGBTS)

The EA is not an EA, it is just some functions of set and forget method and to continue with previous trade if you have shut down/remove EA from chart. If you do backtesting, no problem with this, but I think it gives you negative result.

Please refer to the EA instruction for more information. And any question is welcome.

BullBear,

I have been running the last posted EA continuously for the last 48 hours on demo. So far, the account is down by 20%. I am using the SellStop-BuyStop mode of grid trading, which is posted at the beginning of this thread.

Does anyone have any forward-testing experience with this Grid strategy? (Manual or using the EA)

I wrote EA based on the rules in the first post
the sistem is not working it is slowly loosing

Hi usdivers,

Thanks for sharing your EA. I still can't get it to run. Even with turning off the MBFX. Can you give some direction on what pairs/timeframe/settings would allow me to get started with it?

Thanks Drew

hidden stop loss 30 hidden take profit 70 pips
in this example, you open 20 pending orders 10 stop orders/10 limit orders (5buystop5sellstop5buylimit5selllimit orders)
100pips gap between orders
when the market moves
use closeby operation in mt4 to close a buy trade with a sell trade to make 70 pips profit
open pending orders for the same value as closed and open new pending orders towards where the market moves
see attached excel file for illustration
open for discussion and improvement
courtesty: mod sadi

more illustration....
appreciate your comments

Will it make money?

Let assume if price does not trigger buylimit order first at 1.3017.

You said current price is 1.3047. Price move up. How about if trigger selllimit 1.3087 then arrive at 1.3117 ? Lose 30 pips in net return. If it goes further up, lose more.....

hi bull bear
this is a long term trading strategy....can be modified to short term also
when you book profit, you necessarily close two trades together buy/sell which collectively gives 70pips prfit (closeby operation mt4)
you open the series of pending orders and leave it to run for days until you have two pairs that will produce profits and close them without affecting the other pairs which you leave it to run until they turn profitable....the range of movement is approx 1000 pips. as long the currency moves 1000 pips approx , no matter in what direction, you will have opportunities to close 2 trades with profit and with a minimum floating loss/profit

short term closing
diffrence in pips btwn pending order can be 50 or 25
in which case the pending orders should
market price+35 pips....1st buy stop............based on this you open series of buy stop and buy limit orders
market price+20pips.....1st sell limit......based on this you open series of sell stop and sell limit orders
/////////////this is for pending orders with 50pips diff

market price+17.5pips
market price+10 pips ////////this is for pending orders with 25 pips difference

i will post the screenshot of closed trades and floating profit to understand how it works

i am looking for an ea that will open series of pending orders with a .....set difference/no or orders specfied/starting price specified/stop and limit orders

cheers

see the closed trades with profit ...50pips diff pending orders


appreciate if someone can create an ea or script open trades only...not to manage the trades

You make unnecessary pending orders for your system. You can simplify like this way.

I used your case studies inside the excel to illustrate the scenario.
At current price 1.3047. Set buylimit order 1.3017 and selllimit order 1.3087.
1. If price trigger buylimit, delete selllimit order, the TP of buylimit order would be 1.3087.
2. If price trigger selllimit, delete buylimit order, the TP of selllimit order would be 1.3017.

Now price at 1.3087. Set buylimit order 1.3017, and buystop order 1.3117.
1. If price trigger buylimit, delete buystop, the TP of buylimit order would be 1.3087. At the same time, the previous selllimit order 1.3087 hit TP win 70 pips (1.3087-1.3017)
2. If price trigger buystop, delete buylimit, the TP of buystop order would be 1.3187. At the same time, the previous selllimit order 1.3087 lose 30 pips (1.3117-1.3087)

Conclusion, just to set 2 orders above and below current price with TP respectively. Once it hit either one of he position, then repeat the same. So you would not require to open so many orders, and can save your free margin.

The idea is if price trigger both orders, then it will generate the profit. However, if price is just trigger one of the order then trending all the way to one direction, it is losing. Hopefully, the price would come back again to trigger the initial order that is left to trigger. So i believe it work in ranging market.

hibullbear
what you explained comes down to a simple break out trade.....need to do " baby sitting" chasing the movement and worry about economic data release
when you have many pending orders based on weekly range.....say 1000 pips.....you can check the chart once a day or once in two days to close orders giving profit and create new
pending orders as necessary...its like a set and forget method...news or no news....you are covered.....you dont need to open your chart after placing the pending orders atleast for a day.......your profits are locked with moves on both direction....ranging or volatile....it is just the question of time when, not if, you will book profit....this is what i think

can someone help create an ea or script only to execute multiple pending orders simultaneously with following features:

LOT SIZE : good for 5/4 digit brokers...for any forex pair and commodities would be even better
NUMBER OF ORDERS
BUYSTOP START PRICE
BUYLIMIT START PRICE
SELLSTOP START PRICE
SELLLIMIT START PRICE
DIFFERENCE IN PIPS BETWEEN PENDING ORDER (CONSTANT)

IF YOU HAVE TRAILING STOP FEATURES, AND IF ITS AN EA, THE SAME EA CAN BE USED FOR SINGLE TRADE

if i feed the lotsize, number of orders (say 5) and feed the 4 price levels, and the pips difference between orders (100/50/25) it should create 20 pending orders.
managing the trades after pending orders are triggered can be done manually.....with no hurry, after all

Ok. I will help to code the EA if I find it reasonable. Just some questions here.

1. Currently you open all the pending orders manually? I can see from the screenshot.
2. Have you tried to demo it for quite some time?

I think I did this backtest before, means i have this EA system, but it was losing slowly. I m not sure now, I got to check my archive files tomorrow.

hi bullbear
yes i open trades manually and tried this strategy for many days on many pairs.... it works better, in terms of seeing quick results, on pairs with good movements such as gbpusd/gbpjpy.......nevertheless you can use it on any pair forex or commodities...there are many hedging systems and strategies discussed in this forum , but not the one i have put on the table...please do check your archives...

hi shinewel,

sorry but I don't understand how you do it.

could you explain it to me step by step how you do it?

so price is now 1.3047 - my sell limits are @ 1.3087, 1.3187, 1.3287 etc - my buy limits are @ 1.3017, 1.2917, 1.2817 etc.

my sell stops are 1.2987, 1.2887, 1.2887 etc - my buy stops are 1.3117, 1.3217, 1.3317 etc


the market moves up:
sell @ 1.3087,
buy @ 1.3117, sell @ 1.3187 (these trades closed) + 70 pips
place new buy limit @ 1.3117
buy @ 1.3217
place new sell stop @ 1.3187
sell @ 1.3287 (this trade and buy @ 1.3217 closed) + 70 pips

so far +140 pips and -200 pips DD from first sell @ 1.3087

am I on the right track?

thanks

yes yonnie
please check the earlier posts with excel sheet attachments where it is explained////appreciate your comments

how could it has -200 pips DD when it has 30 pips SL..

need more illustration from master..

regards
fdoehpp

Here is the EA. It only places the pending orders without exit method.

Please let me know if it is not correct.

thanks bullbear
the script in the attachment opens only stop orders,,,i would like that to be tweaked to include limit orders....it has more flexibility than the one you have made....appreciate if you cud look into that....i got this script from FFForum,,,i dont have mq format for this

1. You want to include SL & TP ?
2. Pending order is followed by sequence like all buystop orders are placed> buylimit .....> sellstop .....> selllimit ? Similar to the post 169 ?