Hello Fellow Forex Fanatics,
I just wanted to drop by and post a manual trade I have been working on. It is a simple trade that could be made into an EA if someone would like.
The reason I am sharing is I want some input. I know that when ideas are put on these forums people will come from all angles to prove or dis-credit the concept, which is good.
I started to think about a way to make some pips during the 8amEST to Noon time frame. I then remembered my internet buddy that traded the SP500 emini with great success. Well I adapted his method to forex, at least the basis of it.
At 8amEST to 830amEST a trading range on the EUR/USD is created. I buy the break of the high or sell the break of the low as the trade. My pip target is 15 so that means the market needs to move 18 with a 2 pip spread. The stoploss is set to the opposite breakout or 31 pips whichever is less.
I was able to test from March 10, 2008 to June 9, 2008 so far with:
66 trades
276 pips gained
115 pips drawdown max
trade 1 lot per $2000
500% yearly return
I was wondering if anyone was interested enough to create an EA for some demo testing. I am not always able to live test it since I end up oversleeping so an EA would be useful.
Thanks,
Aliassmith
I just wanted to drop by and post a manual trade I have been working on. It is a simple trade that could be made into an EA if someone would like.
The reason I am sharing is I want some input. I know that when ideas are put on these forums people will come from all angles to prove or dis-credit the concept, which is good.
I started to think about a way to make some pips during the 8amEST to Noon time frame. I then remembered my internet buddy that traded the SP500 emini with great success. Well I adapted his method to forex, at least the basis of it.
At 8amEST to 830amEST a trading range on the EUR/USD is created. I buy the break of the high or sell the break of the low as the trade. My pip target is 15 so that means the market needs to move 18 with a 2 pip spread. The stoploss is set to the opposite breakout or 31 pips whichever is less.
I was able to test from March 10, 2008 to June 9, 2008 so far with:
66 trades
276 pips gained
115 pips drawdown max
trade 1 lot per $2000
500% yearly return
I was wondering if anyone was interested enough to create an EA for some demo testing. I am not always able to live test it since I end up oversleeping so an EA would be useful.
Thanks,
Aliassmith