Pending order Strategy

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cyberevil
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Pending order Strategy

Post by cyberevil »

found something that caught my eye.

https://www.tradingview.com/chart/USDJP ... -Strategy/

*This is a theoretical, money management system only. The key to this strategy is in the trading system.
Trade this system at your own risk !

If anyone out there can help run a forward test or automate this to see if it has legs?
I'll do my test next week on an extra lappy I have.

According to the author, when asked...
Q. This is martingale, isn't it?


A. Not quite. It incorporates both winning & losing martingale strategies with a compounded winning return. With Martingale you only ever win back your initial trade. My way playing both sides of the price range grows with each level.
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renexxxx
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Pending order Strategy

Post by renexxxx »

The 'documentation' is not very clear, but what I understand is that it works something like this:

1. Set two pending orders: a BUY STOP at 20 PIPs of current market price, and a SELL STOP at 20 PIPs of current market price. Starting lotSize = 0.01

2. Each order has a TP of 100%, and SL of 50%(??, whatever that means). Let's assume that both the BUY and SELL have a TP of 20 PIPs and an SL or 10 PIPs.

3. If (and when) a TP is hit, a new STOP order is set, at the same distance (i.e. 20 PIPs) in the same direction, with the same lotSize.

4. If (and when) an SL is hit, a new STOP order is set, in the opposite direction, at the same distance, with double the lotSize.

5. There will only ever be 2 trades open at a time.

Is this a correct interpretation?
FXe3
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Pending order Strategy

Post by FXe3 »

I think this diagram explains it better

https://www.tradingview.com/chart/GBPUS ... erimental/
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cyberevil
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Pending order Strategy

Post by cyberevil »

renexxxx, thanks for looking into it. FXe3 thanks for the new diagram. I don't know how I missed it.
I have the same understanding as you.

I think 100% means if you're using 100 pips gap the SL will be 50 pips.
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renexxxx
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Pending order Strategy

Post by renexxxx »

I wrote this little bot quickly as a proof of concept. As I thought, it won't work. May be someone else wants to have another go at it, as I may have misunderstood some details of the strategy.

Have fun.
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cyberevil
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Pending order Strategy

Post by cyberevil »

Thanks rene, I really appreciate your time and effort :hi:

I'll test it out and see if it can be turned around. It looks so good on paper :youknow:
:roll:
heart1010
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Pending order Strategy

Post by heart1010 »

I've used the EA for an hour and ended up with a broker error message...

The EA opened hundreds of pending orders here...
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cyberevil
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Pending order Strategy

Post by cyberevil »

Did this for my test. seems to open many order at the same price... tried to see if it would do the same on crap test and it did.
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SteveHopwood
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Pending order Strategy

Post by SteveHopwood »

I am locking this thread.

Cy, according to you even the OP describes the system as experimental.

I prefer not to see the time of serious coders here at shf wasted. Usual thing; prove it works manually and the coders here are guaranteed to take interest.

:xm:
Read the effing manual, ok?

Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

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My special thanks to Thomas (tomele) for all the incredible work he does here.
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cyberevil
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Pending order Strategy

Post by cyberevil »

Okay sounds good, let me try it out... if anyone else wants to give it a go. Here is what it looks like on paper. :good:

vdubus:
there will only ever be two open trades at any one time.
The system work in all situations, but just as a heads up, the shorter the pip difference the faster trades are activated / harder to control & you can burn up your entire account. Bes just to say well out of the way of market volatility .
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