Hey guys,
I've just had an idea after looking at the 1 pip guaranteed thread and decided it would be better to risk 1 pip and gain a lot so I started looking at the daily candle to see how many had zero wick.
Unfortunately there are not very many so I changed to the weekly chart. Although there are some with zero wick it seemed more likely that an ea would be better off looking for wicks less than 15 pips and there are quite a few.
So the idea is at the start of the new week , if the previous week ended up the ea would buy at open with a 15 pip stop loss, and the reverse for a previous down week.
This ea will lose more trades than win but how many times will it reach 1000 pip gain within the year. This is what testing the ea on many pairs will tell us.
Let's say it loses 15 pips per week out of 52 weeks
so 15 x 51 is 765
and wins once ie 1 x 1000 we get a net profit of 235.
Food for thought eh......thanks to anyone who wants to give this a go.
Cheers J
I've just had an idea after looking at the 1 pip guaranteed thread and decided it would be better to risk 1 pip and gain a lot so I started looking at the daily candle to see how many had zero wick.
Unfortunately there are not very many so I changed to the weekly chart. Although there are some with zero wick it seemed more likely that an ea would be better off looking for wicks less than 15 pips and there are quite a few.
So the idea is at the start of the new week , if the previous week ended up the ea would buy at open with a 15 pip stop loss, and the reverse for a previous down week.
This ea will lose more trades than win but how many times will it reach 1000 pip gain within the year. This is what testing the ea on many pairs will tell us.
Let's say it loses 15 pips per week out of 52 weeks
so 15 x 51 is 765
and wins once ie 1 x 1000 we get a net profit of 235.
Food for thought eh......thanks to anyone who wants to give this a go.
Cheers J