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Simple system

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Hi,

I have just found this forum and am impressed at how friendly and cooperative the members seem to be so I thought I'd ask if anyone might be interested in coding my very basic system. Unfortunately I trade in pennies and have no financial reward to offer but my little strategy works for me so perhaps it might have some value for you.

Basically on placing the ea on a chart it would immediately open a buystop and a sellstop at x distance. When one of the other is triggered then the remaining one is cancelled and moved up to within x pips of its opposite and continues to follow it at x distance (much like a trailing stop). When the market reverses and the 'following ' stop order is triggered then the original order is cashed in and replaced with a stop order which begins to follow its opposite. I use this system manually and obviously no indicators are needed ... I've found that it works as long as the ranging of the market is different from the x following distance.

Any help would be very much appreciated, tony.



Linkback: https://www.forex.zone/new-ea-coding/26/simple-system/628/
#1 - December 30, 2018, 06:33:18 PM
« Last Edit: December 30, 2018, 06:35:18 PM by Blanco »

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Hi Tony
Welcome to the forum.
I am sure someone here will be able to code this for you.
If I am done with other EA's requested on the forum, and Admin or any other coder haven't done it yet, I will take a shot at it.
Please invite your friends to the forum, like you said, we help each other out here. Certainly the best forum to be on.

#2 - December 30, 2018, 11:04:36 PM

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Thank you for the reply, I look forward to interacting with the members here.... Seems like a very positive place.
#3 - December 30, 2018, 11:14:20 PM

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Unfortunately I trade in pennies and have no financial reward to offer...
I can consider this after the New Year. I will be busy for a little while. If you could support the forum in some way which requires nothing financial (eg. sharing, inviting members, referrals, more forum posting), I would be more motivated ;D
#4 - December 30, 2018, 11:19:59 PM

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Hi, thanks for the possible future interest, there are more layers to the strategy if you're interested but the basic engine of it is what I posted above.
#5 - January 02, 2019, 11:36:19 PM

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I already started coding it.
It's best if you add the layers now. 
It will be helpful if you write it down step by step, including trading times, trailing stops (if any) take profits etc.
#6 - January 02, 2019, 11:43:49 PM

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I am very sorry about that, I only gave a little info so you might understand the basics.... I'll post it here soon so as not to waste your time.... Give me half an hour and I'll write it down, apologies again.
#7 - January 02, 2019, 11:48:30 PM

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My Grildock strategy is an extremely simple process that I have developed and refined. It is so simple in fact that you won't believe that it could possibly work. The system has no indicators and is based entirely on price action.
Initially a Buystop and a Sellstop are placed at a set distance from the current price. An example...
Buystop 1.0525
Price 1.0500
Sellstop 1.0475
When one of the orders is activated another pending order is placed at an equal distance away in the same direction and ... (This is the reason it works) another 'locking' opposite pending order is placed in the opposite direction.
Assuming that the price went up in our original example it would look like this...
Buystop 1.0550 (new)
Buy 1.0525
Price 1.0525
Sellstop 1. 0500 (new)
Sellstop 1.0475
One of the initial input variables would ask for the number of required orders either side of the initial price, so supposing it was '3' we would have another level remaining (It is vital that the orders either side are of equal number). Assuming the price continued to rise we would end up as follows...
Buystop 1.0575 (new)
Buy 1.0550
Buy 1.0525
Price 1.0550
Sellstop 1.0525 (new)
Sellstop 1.0500
Sellstop 1.0475
Again the price rises to complete our set up....
Buy 1.0575
Buy 1.0550
Buy 1.0525
Price 1.0575
Sellstop 1.0550 (new)
Sellstop 1.0525
Sellstop 1.0500
Note that because we specified that our 'required number of orders' variable was '3', the pending sellstop at 1.0475 has been cancelled.
Note that because we have been following the price movement with the Sellstops we have locked in a profit.
Although this is essentially a grid system there is no possibility of a large drawdown because each order is 'virtually ' hedged with an opposite order.
The example I have given is obviously a simplified one, of course the price will reverse and activate some of our opposite pending orders but this is not a problem as long as our other variable (Gap between orders) is not the same amount of pips as the current ranging of the market. I have tested the system extensively and as soon as the market begins to trend the money begins to flow.  When the market changes direction, after our 'turning circle'  completes we begin to make money in the other direction.
To repeat, the ONLY possible way to lose with this system is if we set our 'gap between orders' variable at the same level as the current ranging level. So in our example above, if the market was ranging x amount of  pips we would be losing the gap amount on every pass (so we would simply change the gap between orders to a higher or lower range until the market begins to trend profitably again.
I don't trade this system day to day because as a manual system it requires constant input and monitoring and a lot of work inputting and deleting stop orders but when I do have the time to use it..... It ALWAYS makes money. It is also difficult to use any more than one pair at a time manually because of the confusion.
As a bonus it is also self regulating (order size wise) because, assuming you were using five orders either side, when it's ranging you might have a ratio of five active buys and three or four active sells but when the market is in full trend you will have five active orders in the direction of the trend and none against until it starts to reverse.
Also, it has a built in safety mechanism in case of loss of contact with the server... Being weighted either side with an equal number of orders it cannot get away from you.
Being human there are some things that I do when the system is in play to maximise the profit if the trend changes direction, for example if I'm working on a 100 pip gap and it slows down then I bunch the gaps up tighter to say 25 pips or so.
Also, I only put the very next pending order in rather than a few but it may be easier to code if it starts with the x amount of orders rather than build them up as in my first example... I don't know.
Please let me know if you have any questions or if you think it can be improved.
Tony.
#8 - January 03, 2019, 12:03:54 AM

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And, just for the record, if you have coded the original you haven't wasted your time. It's how I stumbled on this system... I had a locked in loss through a hedge and worked my way out of it with this strategy. I began refining it thinking that if I have recovered a loss with it then I might be able to make money from it.
#9 - January 03, 2019, 12:28:29 AM

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And, just for the record, if you have coded the original you haven't wasted your time. It's how I stumbled on this system... I had a locked in loss through a hedge and worked my way out of it with this strategy. I began refining it thinking that if I have recovered a loss with it then I might be able to make money from it.
I have not coded the original.
I started coding the system you described initially.
It's a good thing you gave the full description now, as it changes a lot what I have done already.
Give me a couple of days, I will see what I can do with your "full" system. It looks quite interesting
#10 - January 03, 2019, 08:48:19 AM
« Last Edit: January 03, 2019, 08:55:05 AM by Francoisvs »

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When do you close the open positions? Many brokers who allow hedging will only trigger the opposite pending stop order as a market order for a new position and will not close an open order with that stop.
EG, Your sell order was triggered at 1.2500, as the market moved down, now you have a Buy-Stop at 1.2475, if the Ask price hits 1.2475, the hedging broker will just open a buy trade and not close the sell trade.


I am thinking a trailing stop on the open orders at the same levels as the buy-stops?
Or maybe close all open orders when you reached a certain amount in profit.

#11 - January 03, 2019, 01:18:35 PM

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Hi francois, if you change the reason it works for me ... It won't work. Although it is a simple process it's difficult to imagine without trading it. The closing of the orders is done automatically due to the need of another locking pending order as the price reverses.
#12 - January 03, 2019, 01:33:29 PM

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For example, if you were only trading one either side and the market order had gained 200 pips with the following pending order at a 25 pip gap. When the price reverses and triggers our pending order and carries on going another 25 pips then the original market order is closed with whatever profit because we need another pending order to follow the new order in the new direction.
#13 - January 03, 2019, 01:43:36 PM

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Hi francois, if you change the reason it works for me ... It won't work. Although it is a simple process it's difficult to imagine without trading it. The closing of the orders is done automatically due to the need of another locking pending order as the price reverses.
How is the closing of the orders determined.I understand you need to place new pending orders, so you just keep on placing buy pending orders at the gap amount with trailing pending sell orders (3 in your example) so eventually you can end up with 20 open buy orders if the market moves 500 pips in your favor? At what point do you take profit?
I have the EA placing orders and trailing with new entry stops orders, but when the market turns around, it eats up the profits?

#14 - January 03, 2019, 02:49:23 PM

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Hi, please excuse the intermittent replies... I'm helping my neighbour harvest her olives.
If you were using three orders either side you would never have more than six orders on the screen... For five either side it would be ten etc.I
The thing with this is that when you have five buys in profit and the price keeps rising, you don't add any more buys... Only five trailing Sellstops so that when the price rolls back you not only have a locked in profit but you have five sells at a better price.
I'll be finished with the olive in about two hours if you don't get it.
Tony
#15 - January 03, 2019, 03:14:33 PM
« Last Edit: January 03, 2019, 03:18:44 PM by Blanco »

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