European Breakout Grid Trap Strategy

[viracoccha]

Hi ... I must apology because my bad englis but this is place where I can talk with you my dear traders ...
you have there three problems what you wanted solve/change:
* When TP hits then system dont delete old orders - my sugsestion is that dont use so small TP. It dont work. Yes it works when there are clear moving, but in sideways - it just dont work.
* You using martingale - it may be profitable but it have finally destroyed all my accounts.
* You want not tell to criminal where is your TP levels - then dont tell. As I mentioned, use bigger TP levels and not so big SL - then you have winner. Or even better use basket TP - I use that and it works fine.

Now you ask who the hell is me .... I just use similar idea at the moment in my live account... first of all (about 1.5 years ago) I wanted trade as you desgribed. Yes ... I have seen how 300 dollars produced 700 dollars profit but it wanished even quicer as I blink my eye.

Those were only my sugsestions what based on my knowledges and finger burnings.
Main grid idea should be to follow market ... so why you took out your profit trades ... just ends your losing trades and you get your profit. Here is my live result: http://www.stevehopwoodforex.com/phpBB3 ... =36&t=1176

[forextrader-radioman]

Viracocca,

thank you for your suggestions, I was at that point too, but now, I'm beyond

I can trade trends, I can trade ranges and now I will master those "random" movements.

So please let us stay focused at the EA and not at that or any other strategy.

, Dietmar

[niepce]

70 grids with martingale on each

This is no more a "price trap"
This is a hunting party with 70 hunters with NATO-class grade weaponry, just to kill a wild boar in the hill

I mean... One needs a incredible starting balance for trading this confidntly....

[forextrader-radioman]

70 grids with martingale on each

This is no more a "price trap"
This is a hunting party with 70 hunters with NATO-class grade weaponry, just to kill a wild boar in the hill

I mean... One needs a incredible starting balance for trading this confidntly....

lol

heeey, every 10 pips there is a take profit level! ...

[viracoccha]

Sorry for my previos disturbing/spamming ... it was not mentioned that way as it gomes out.

In that way as you described your startegy it will work. But I dont imagine how big your acc should be It works because you secure your position all the time. But I still see problem whit that martingale thing, but yes in that strategy you need that next pending order should be at least 3 times bigger as previous order were.

Problems:
* If price start hovering then system may make only orders in one direction. Every order is 3 times bigger as previous as I understand that right. Even if you get that opposite order (forth order) then the price dont must go on your wished way , if it is still in middle then the situation is not nice.

*consider whole system behaivor, trading interval/cap is too big. It may be almost 40 pips to get minimum profit (about 10 pips with 0.01 lot). There may be wery long periods when EURUSD (or whatewer pair) hovering between 40 pips.

* Trading with one level is not good if there is nice/sudden and big movements because that crap Empty4 is not fast enough and you miss nice market movements.

If there would be perfect movements you still earn 10 pips profit with your starting lot.

To sum up - this startegy works. The question is between profitablity and risk.

[niepce]

Dietmar, you are proposing 3 or 4 as a martingale factor for each iteration.
What would be the smallest martingale factor or factor list, to still be profitable, while decreasing the risk ?

Because this scares me :

0.05 (one long and one short)
0.2 (only short -or- long)
0.8 -"-
3.2 -"-
12.8 -"-

and it is now:

0.05 (one long and one short)
0.4 (only short -or- long)
6.4 -"-
25.6 -"-
102.4 -"-

[viracoccha]

more than 3 times secure your final profit