Hello guys, I would love to know if someone would be willing to code this, I think that could be profitable. Any comments would be appreciated, even in the event that you believe this is crap! Hahaha, but please provide at least a proof
Actually I do not know if there's an EA which truly works like this... So allow me to clarify everything...
Months ago I started to trade using an EA Developed by penis jansb000 (100% predied on Trade Made Simple Strat), I have been trading successfully since the EA can manage the trades automatically after a platform introduced by termed MeMe (I think it stands for Multiple Entries Multiple Exits)... I use this EA to trade when I am at work basically and to manage the transactions of my system in the meanwhile that decreased my loses to 0 (Likely until I have a bang )
This MeMe system, simplified, is made in the following:
To make it easy let's say we go brief on EURUSD at 1.23, Our ADR(100/2) is 99Pips and also our Spread is 1Pip
- Position LIMIT ORDER at 1.24
- Place a SL at 1.25
- Define then TP, let us say, 100Pips to get 1:1 at 1.22
When the transaction is okay, wow, perfect, we proceed and buy a Kebab using our hard earned 100pips, but when it goes the opposite we do the following:
- Price goes against us and reaches the very first LIMIT ORDER at 1.24
Order gets triggered and we've now 2 SELL Orders you at 1.23 and other at 1.24- New LIMIT SELL is made at 1.25 (Where SL was)
- SL is being moved to 1.26
- Calculate afterward the new TP, as order went against us we wish to escape the transaction, therefore we will look to get a BE or BE little profit if we're still greedy.
- Price goes back and strikes our TP, in this case, we're from this transaction in BE even when at the start it went against us.
Example:
Now let us state, price keeps going against us even more:
- Price activates our Second MeMe Order at 1.25
- New LIMIT SELL is made at 1.26 (Where previous SL was)
- SL moved to 1.27
- New TP is presently being recalculated and put again, now considering we've 3 SELL Orders running
As an example of a very bad entrance:
I figure you already got the point...
This obviously, is not the Grail, and you cannot accumulate unlimited drawdown eternally (Or you can?) But is a really good method of shutting your transaction in profit whenever you have a system that's telling you to proceed, and then everything goes against you personally.
As this system can get out without a lot of troubles from a bad transaction, what would happen if we place a SELL and BUY order exactly the same time?
This transaction from previous example:
SELL Order would have closed in profit after 3 MeMe Trades
BUY Order would have closed in profit in a few hours, then, I am open to suggestion when it is worth to enter again to keep hedging the previous one and accumulating profit.
In my understanding even in Range or Trend that this kind of way of work should be profitable.
In UPTREND buy order will be hedging and closing profits while SELL will probably be generating some drawdown, after a little pullback sell order will shut in BE while most of the Buyers will shut reaching TPs
In RANGE, both order will be accumulating some drawdown if a number of the MeMe Orders are triggered, but beneath the minimum movement in our direction, they'd end up shutting in BE, therefore no reduction and perhaps even quite tiny profits.
I am open to ideas! Who's interested to code this?