Really I do not know if there’s an EA that truly works like this… So let me clarify every part…
Months in the past I began to commerce utilizing an EA Developed by member
This MeMe system, simplified, consists within the following:
To make it easy for example we go brief on EURUSD at 1.23, Our ADR(100/2) is 99Pips and our Unfold is 1Pip
– Place first LIMIT ORDER at 1.24
– Place a SL at 1.25
– Outline then TP, for example, 100Pips for 1:1 at 1.22
If the commerce is okay, wow, excellent, we go and purchase a Kebab with our hard-earned 100pips, but when it goes the alternative we do the next:
– Worth goes in opposition to us and reaches the primary LIMIT ORDER at 1.24
Order will get triggered and we’ve now 2 SELL Orders one at 1.23 and different at 1.24
– New LIMIT SELL is created at 1.25 (The place SL was)
– SL is being moved to 1.26
– Calculate then the brand new TP, as order went in opposition to us we wish to get out of the commerce, so we’ll search for a BE or BE+small revenue if we’re nonetheless grasping.
– Worth goes again and hits our TP, on this case, we’re out of the commerce in BE even when initially it went in opposition to us.
Now for example, value retains going in opposition to us much more:
– Worth triggers our Second “MeMe Order” at 1.25
– New LIMIT SELL is created at 1.26 (The place earlier SL was)
– SL moved to 1.27
– New TP is now being recalculated and set once more, this time contemplating we’ve 3 SELL Orders working
And instance of a really unhealthy entry:
I suppose you already acquired the purpose…
This clearly, isn’t the Grail, and you can not accumulate limitless drawdown ceaselessly (Or you possibly can?) however is a extremely great way of closing your commerce in revenue when you’ve got a system that’s telling you to go, after which every part goes in opposition to you.
As this technique is ready to get out with out an excessive amount of troubles from a foul commerce, what would occur if we place a SELL and BUY order at similar time?
This commerce from earlier instance:
SELL Order would have closed in revenue after 3 MeMe Trades
BUY Order would have closed in revenue in just a few hours, after this, I am open to suggestion if it is value to enter once more to maintain hedging the earlier one and accumulating revenue.
From my understanding even in Vary or Pattern this sort of “method of labor” ought to be worthwhile.
In UPTREND purchase order can be “hedging” and shutting earnings whereas SELL can be producing some drawdown, after a small pullback promote order would shut in BE whereas all of the Patrons would shut reaching TPs
In RANGE, each order can be accumulating some drawdown if among the MeMe Orders are triggered, however beneath the minimal motion in our route, they might find yourself closing in BE, so nonetheless no loss and perhaps even very small earnings.
I am open to solutions! Who’s to code this?