4 Levels Martingale Grid System

After a year in forex, I came to conclusion that indicators suck!!!
........So i started to think about logics to put orders in that way
to be more wining trades than lossers....and this is what is all about!

Here are the rules:

1. SET OF ORDERS
At the closing price of the candle (on used timeframe), EA will place one buy order, one sell order,
and one pending order sellstop wich will be -50 pips below closing price.

2. SET OF ORDERS
If the pending order sellstop is triggered by price, then EA need to put another buy order
at level +25 pips from the triggered sellstop order.

That 4 orders is maximum number of orders at once!

TP and SL take calculations from all orders( total TP and SL)
and then if TP or SL are hit, all orders are closed!

I wish to discuss this method, and maybe make it more profitable!!!

Thanks to smjones for coding this EA.

How to avoid the scenario 4 ? That is the question http://www.forexfactory.com/images/icons/icon10.gif
If every scenario has a probability of 25 %, the system is good on the long term but it's difficult to know it.
In any case, we don't need to change lots, TP or SL : it's a question of probability.

ANYONE???

Scenario 4 is -500, not -250. Scenario 3 is +500.

It is if you go 100 pips up or down, but on that scenario i preffer plus 50pips level, or minus 50,
but bassicaly it is the same thing!

Drawdown is bound to get ugly (what's new? )

hey,

I like the way you think, but what I don't get is why opening long and short at the same time instead of doing
buy 0.1
sellstop 0.2 and
buy at 0.4

Any idea on best currencies to trade ?

greetz
docnavy

hi all...

the system is interesting me as well as the EA.
however, i have a system which is similar and wonder if anyone can help me to create / modify the EA as below:

Rules:
1. Once EA activated, it will open a trade on market price.
2. Direction of 1st trade (buy/sell) will be determined by MA trend
3. Opening Lot = 0.1 or 0.01 (options to choose)
4. Option for amount of SL and TP (in pips)
5. After 1st trade is confirmed, EA will open pending order as below according to SL and TP
6. If SL is hit = EA open new trade which direction against 1st trade and multiply the lot
7. If TP is hit = EA open new trade align with 1st trade and same lot size
8. Multiplier for Martingale = 2x (double) from previous lots
9. Step of lots to open if SL is hit :
0.1 -> 0.2 -> 0.4 -> 0.8 -> 1.6 -> 3.2 -> 6.4 -> 12.8....
0.01 -> 0.02 -> 0.04 -> 0.08 -> 0.16 -> 0.32 -> 0.64 -> 1.28 -> 2.56 -> 5.12....

scenario example 1:
I. EA open 1st trade buy / 0.1 lots / price @1.2550 / SL @1.2530 (20pips) / TP @1.2570 (20 pips)
II. If SL is hit, EA open sell / 0.2 lots / price @1.2530(SL) / SL @1.2550 (20pips) / TP @1.2510 (20 pips)
III. If SL is hit, EA open buy / 0.4 lots / price @1.2550(SL) / SL @1.2530 (20pips) / TP @1.2570 (20 pips)
IV. If SL is hit, EA open sell / 0.8 lots / price @1.2530(SL) / SL @1.2550 (20pips) / TP @1.2510 (20 pips)
V. If SL is hit, EA open buy / 1.6 lots / price @1.2550(SL) / SL @1.2530 (20pips) / TP @1.2570 (20 pips)
...so on, until TP is hit!


scenario example 2:
I. EA open 1st trade buy / 0.1 lots / price @1.2550 / SL @1.2530 (20pips) / TP @1.2570 (20 pips)
II. If TP is hit, EA open buy / 0.1 lots / price @1.2570(TP) / SL @1.2550 (20pips) / TP @1.2590 (20 pips)
III. If TP is hit, EA open buy / 0.1 lots / price @1.2590(TP) / SL @1.2570 (20pips) / TP @1.2610 (20 pips)
...so on, until end of cycle amount!

10. Option on how many cycle amount
11. Cycle amount : how many times will the TP is being hit!!!

brgds,
rey12

Where can I find this EA ?