I'm sure this system is floating around in here somewhere. I just can't seem to find it. With all you genius programmers out there I'm sure someone has done it or knows how to do it.
This system is very simple. It uses a martigale style strategy by incrementally increasing lot sizes. It can be random entry or indicator initiated.
A long/short position is entered and when the market goes against your position you enter a position the other direction with double the previous lot entry.
If the market then turns against you again, you do the same thing, enter a position the other direction double the last lot size increment.
I figured a standard 10 TP and 10 SL would work well considering your doubling lot sizes. According to my math with standard 10/10 settings. You could go 11 trades into a progression, with a $1000 account starting at .1 lot size before you get a margin call
You could go 15 trades into a progression, with a $1000 account starting at .01 lot size before you get a margin call.
Odds are you will not range within 10 pips for 11-15 trade reversals.
As long as you keep entering trades in the market direction(and have enough money) you can't lose. I would like an EA built to do this. I'm sure someones probably already thought of it and/or built it.
Any ideas or comments feel free. I think that is the best thing about open source communication. Someone will always think of something you didn't.!
Jar ,
This system is very simple. It uses a martigale style strategy by incrementally increasing lot sizes. It can be random entry or indicator initiated.
A long/short position is entered and when the market goes against your position you enter a position the other direction with double the previous lot entry.
If the market then turns against you again, you do the same thing, enter a position the other direction double the last lot size increment.
I figured a standard 10 TP and 10 SL would work well considering your doubling lot sizes. According to my math with standard 10/10 settings. You could go 11 trades into a progression, with a $1000 account starting at .1 lot size before you get a margin call
You could go 15 trades into a progression, with a $1000 account starting at .01 lot size before you get a margin call.
Odds are you will not range within 10 pips for 11-15 trade reversals.
As long as you keep entering trades in the market direction(and have enough money) you can't lose. I would like an EA built to do this. I'm sure someones probably already thought of it and/or built it.
Any ideas or comments feel free. I think that is the best thing about open source communication. Someone will always think of something you didn't.!
Jar ,