THE THREAD
This a continued thread from what has already been said here....http://www.forexfactory.com/showthread.php?t=197033
This area of the forum is more appropriate for where the thread is going.
Here's my plan for this thread.
In the spirit of FF I going to share my EA with you all, if it wasn't for the help of some FF members, the EA wouldn't exist is in the 1st place.
I'm releasing the compiled EA and not the code, I feel this will help keep the thread organised rather than having 20 versions of the same EA.
If you download and test the EA, I would like you to post and let everyone know what settings you are using and also give a link to an mt4stats page for us all to see how that particular .set is performing.
I will then take this info from each post and add it to post No.1 with links for us all to easily see and evaluate.
This should help reduce duplicated efforts.
I hope you agree this seems a good plan and lets keep it productive and the thread active with lots of results.
THE SYSTEM
The idea for this system 1st came to me when I was experimenting with a variant of 10p3. With 10p3 I saw lots of little profits and then eventually the system did as martingale does and bombed out with a huge loss.
I thought to myself, why not reverse this, take lots of little losses, and rather a huge loss when the system goes wrong, a huge profit when it goes right.
The entry is as the 10p3 I first used, from there on in all the logic is reversed.
Here are the input variables at default values and their meanings explained:
ALL profit and loss prices are in the format of 0.00150, this way it works on 4 and 5 digit brokers, also my programming skills are not up to scratch.
TakeProfit = 0.01500;
This value is the ultimate goal, ALL your placed orders will have this value.
StopLoss = 0.00100;
From the 2nd order onwards, all orders will be modified to have a SL of this many pips.
InitialStopLoss = 0.00100;
The first order only can have a different value from the rest, when the 2nd order is placed the stoploss will be as the "StopLoss" value.
Multiplier = 2;
The next order will be this many times bigger than the last, set to 1 if you dont want order sizes to increase. If can be 1.1 or 2.34, whatever you want, but not zero.
LotSize = 0.01;
The size of the first order.
MagicNumber = 801369;
I'm sure you all know about these by now.
Pips = 0.00300;
When your 1st order is in profit by this much, your 2nd order will open and 3rd 4th etc until your TakeProfit value hits(or is so close the order is not valid)
ReverseSignal = false;
This reverses the entry trade from a buy to a sell and vice versa.
slippage = 0;
Slippage, remember in 0.0001 format.
THE RESULTS
I'll start the ball rolling with my results and my settings.
=====================================================================
I did have MT4 stats charts here but the site is down far too often, I have switched to
http://www.myfxbook.com/members/BenScoobert
=======================================================================================
Hope to hear from you soon and see some results to put on this page.
http://benscoob100100.mt4stats.com
This a continued thread from what has already been said here....http://www.forexfactory.com/showthread.php?t=197033
This area of the forum is more appropriate for where the thread is going.
Here's my plan for this thread.
In the spirit of FF I going to share my EA with you all, if it wasn't for the help of some FF members, the EA wouldn't exist is in the 1st place.
I'm releasing the compiled EA and not the code, I feel this will help keep the thread organised rather than having 20 versions of the same EA.
If you download and test the EA, I would like you to post and let everyone know what settings you are using and also give a link to an mt4stats page for us all to see how that particular .set is performing.
I will then take this info from each post and add it to post No.1 with links for us all to easily see and evaluate.
This should help reduce duplicated efforts.
I hope you agree this seems a good plan and lets keep it productive and the thread active with lots of results.
THE SYSTEM
The idea for this system 1st came to me when I was experimenting with a variant of 10p3. With 10p3 I saw lots of little profits and then eventually the system did as martingale does and bombed out with a huge loss.
I thought to myself, why not reverse this, take lots of little losses, and rather a huge loss when the system goes wrong, a huge profit when it goes right.
The entry is as the 10p3 I first used, from there on in all the logic is reversed.
Here are the input variables at default values and their meanings explained:
ALL profit and loss prices are in the format of 0.00150, this way it works on 4 and 5 digit brokers, also my programming skills are not up to scratch.
TakeProfit = 0.01500;
This value is the ultimate goal, ALL your placed orders will have this value.
StopLoss = 0.00100;
From the 2nd order onwards, all orders will be modified to have a SL of this many pips.
InitialStopLoss = 0.00100;
The first order only can have a different value from the rest, when the 2nd order is placed the stoploss will be as the "StopLoss" value.
Multiplier = 2;
The next order will be this many times bigger than the last, set to 1 if you dont want order sizes to increase. If can be 1.1 or 2.34, whatever you want, but not zero.
LotSize = 0.01;
The size of the first order.
MagicNumber = 801369;
I'm sure you all know about these by now.
Pips = 0.00300;
When your 1st order is in profit by this much, your 2nd order will open and 3rd 4th etc until your TakeProfit value hits(or is so close the order is not valid)
ReverseSignal = false;
This reverses the entry trade from a buy to a sell and vice versa.
slippage = 0;
Slippage, remember in 0.0001 format.
THE RESULTS
I'll start the ball rolling with my results and my settings.
=====================================================================
I did have MT4 stats charts here but the site is down far too often, I have switched to
http://www.myfxbook.com/members/BenScoobert
=======================================================================================
Hope to hear from you soon and see some results to put on this page.
http://benscoob100100.mt4stats.com
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