Gambler's Dream 1.6

Hi Paul,

I choose H1 so I only need to check my charts before each hour and don't have to stare at them all day. I prefer the majors that have enough volitility tp provide good results, without too much volatility that will be outside my preferred grid levels, or too little that can not allow a solid reversal to save my initial trade if I choose incorrectly.

Over time, a pair that is great this week, may not be good next week. I check this website to see daily averages. Staying within the 75-120 range.

https://www.mataf.net/en/forex/tools/volatility

You could add an ADR indicator if you want. But I am most concerned with Stochastic and RSI. And of course, when loaded on the chart, Gamblers Dream will show you where it will initially trade and where grid levels will be. If there are recent reversals within that grid, the odds of a completed sequence in profit are increased.

This is a tool in the tool box. Part indicator, part trade manager. The most important component is the USER...YOU.

https://www.myfxbook.com/members/FXS...eam-16/2099876

Stats available: https://www.myfxbook.com/members/FXS...eam-16/2099876
Signals Available: https://www.mql5.com/en/signals/276335

I don't know if I mentioned. Personally, I am not a big fan of SHORT trades. I prefer to wait until the stochastic has reached oversold levels on a chart then cross back above that level, then wait for the Heiken Ashi to show a LONG candle for a LONG sequence. Provided that the RSI is also moving in an upward direction, that is a condition I would consider starting the EA. One of several conditions. When trading a grid/martingale, the odds of hitting stop loss are reduced if the condition that can cause that to happen has already occurred.

Entered a GBPUSD trade earlier today that is still open. WIth all of the news events that will occur later today, I have reduced the grid levels to 2 and moved the stop loss up to compensate. Just in case.

Woke up to a triggered stop loss. Glad I moved it. First true loss in over a month of using EA. Not a bad hit, should recover in a day or two. It might have recovered on its own, but with so much going on in UK, better safe than sorry.

EDIT: Price dropped about 100 pips from entry and reversed. Could have been a recovery. But, it happens.

First negative day since starting EA, April 4th.



Stats available: https://www.myfxbook.com/members/FXS...eam-16/2099876
Signals Available: https://www.mql5.com/en/signals/276335
Don't forgot to vote in the poll above first post.

Stats available: https://www.myfxbook.com/members/FXS...eam-16/2099876
Signals Available: https://www.mql5.com/en/signals/276335
Don't forgot to vote in the poll above first post.

I am thinking about adding another variable to Gambler's Dream and I am open to your thoughts.

Currently, the grid levels are arbitrary. 400 points (40 pips) apart. I chose those after many many forward tests, back tests and live trading. With 3 additional recovery grid levels plus the primary order, with stop loss provides a range of 1600 points (160 pips). I am thinking that a more dynamic grid range may be beneficial. Perhaps using the Average Daily Range x 2 or 3 to create the range with the recovery grid levels equally spread within it? Or, if I can figure out a way to calculate Fibonacci Grid levels.

The trick is finding a range that carries a high degree of recovery.

Thoughts?

Setting designs in place for next version. Available to customers.

Condition to stay out of bad trades where grid will be at highest risk.
Grid will be based on Dynamic Fibonacci levels or pre-selected levels based on price action.

Stay Tuned.

Ready for the week. Still in a USDJPY from last Friday.

Not a bad day. In a EURJPY trade I am not particularly proud of. But we will see if it recovers.



I am sticking with it only because it is strongly oversold in both RSI and Stochastic. Indicative of a reversal.

As expected too small an account for too many trades outside of martingale grid on auto pilot. It has to happen eventually. Testing without grid, single order with stop loss. Over several pairs. I want to see if more wins than losses across several pairs. Can't win every hand, just want to win more than lose.