DislikedHi all, I have been trading for about 2yrs now but my focus have been in automating the trading platform. I have developed a unique trading strategy which I would like to share with you. I do not know how to make it into an EA as yet but I am sharing the user info here. please log in and let me know any areas of improvement if any. ThanksIgnored
You start by opening simultaneous Buy and Sell orders of equal size. This is dumb. Assuming you close each of these as separate "Close" orders later, you just handed over to your broker two spreads. (If you figure out how to Close-one-order-by-another-opposite-order, you could save 1 spread, but you still wasted one).
(Oh, and by the way, if you hold your two trades open at the Daily rollover time NY 17:00, you're going to pay a bigger swap than your broker will pay you, so you're also losing more with each swap cycle).
The price next goes down. Your Buy is negative; your Sell is just as positive. (You're still negative by 2 spreads).
Next -- for whatever reason, you don't describe -- you decide to open another Buy order at the lower price. It goes a bit negative, but then you open another Buy. When price happens to climb, at least one Buy is profitable, and perhaps the 2nd one, but you end up Closing your original Sell in profit (you pay 1 spread). That, however, just left your just-as-negative Buy order unbalanced, so what you really did is you went one more order long. (Now you are 3X long). At some point higher up, you close the remaining 3 orders. In total, you paid 4 spreads, 1 of which was a total waste. The other 3 are the same spreads you would pay to make 3 independent Buy orders which you later closed at the same time.
You traded GBP* pairs. The trends of each were up. You took your Buy/Sell pair after just a small pullback. Your later Buy trades were at larger pullbacks. Eventually the next wave up occurred, and in the end you got a small piece of it. It would be better, IMHO, to just make 3 Buy decisions by themselves at the points that you made your 2nd and 3rd Buys, and your Close of the profitable Sell (which leaves your original Buy naked, so really, you just made the 3rd Buy at that moment).
I'm only giving a few comments. I've no interest to comment further, nor code anything, but maybe someone else wants to "help".