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  1. SystemTrader

    SystemTrader Private

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    I came up with this idea for an EA that I plan to make soon. Of course I'll back test it, and the results might be great or they might be horrible. Right now it's just a concept. But it's not in line with my favorite setups. My favorite setups depend on channel breakouts... I like to place one trade that attempts to follow the trend, and another that grabs 20 pips and exits.

    I wonder if this idea might be also called scalping, since I don't know what scalping is. Or maybe you've seen something like this and have some information to add. Here it is: (Note: My first idea for x is 15 pips, but might be adjusted with testing)..

    1. place 2 stops x points from Bid - one above the bid, and one below.
    2. if opened, immediately edit its limit to be x, and stop to be 1/2 x. also cancel other stop.
    3. if there are no stops pending and also no open orders, reset and place 2 stops.

    I call it the blitz. I considered shotgun and slingshot, too. Naming EAs is fun for me. What do you think of this concept?
     
    #1 SystemTrader, Feb 21, 2011
    Last edited: Feb 21, 2011
  2. SystemTrader

    SystemTrader Private

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    For the curious, the answer is that this idea is not profitable.
     

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