High risk- 400/1 money management bot ?

[Guest]

Hi another newbe here. I'm looking for someone to build and try this.

A Pattern scanner like http://www.forextrendy.com/ but instead of alerting you when the market exits the trend like they do, it buys/ sells within the pattern as and when the market bounces/pivot points off the trend line. In manual Live trading my sl are set outside the trend line generally 10 pips & TP 5 pips trading 5min & 15 min charts (faster). The 1hr chart (slower) I go for 100%.
I know this method of trading is nothing new it's the easiest, but using this system live im averaging 14/16 winning trades

Money management - My illogical logical thinking

High risk- 400/1 Ratio- 25 pips (100%)
$1,000 buys you 40 x $25 attempts to win 8 trades in a row. $10,000 buys you 400 x $25 attempts
----------------------
buy/sell Profit
1/ $25 + 100% = $50
2/ $50 + 100% = $100 + $25
3/ $125 + 100% = $250
4/ $250 + 100% = $500
5/ $500 + 100% = $1000 + $250 - ( buys you 40 x $25 attempts)
6/ $1250 + 100% = $2500
7/ $2500 + 100% = $5000
8/ $5000 + 100% = $10,000 ) - (buys you 400 x $25 attempts)

lose your losses and start the process again or double your winnings until you reach the desired exit level.
Let me know if this doesn't make sense ? It makes perfect sense to me

[Jemook]

If you can clearly write out EXACTLY how the bot should trade and get it right first go (ie not make any changes / additions) then you'll have a much higher chance of someone helping you out.

What indicators to use, indicator settings, entry criteria, exit criteria, money management etc.

J

[Guest]

hmmm doubt I'm the right calibre to do that, but I'll give it a go. I've only just installed GP Empty4 which I'm not familiar with either but successfully installed ok on my Linux set up. I've been trading etoro all my time trading purely because their browser based platform. Going by what I've been reading a few of the bots do there job pretty good, but don't really make alot of money, I could be wrong. The money management side of my system could be implemented to any trading set up, I just don't know if it can be done ? Can it ?

[garyfritz]

vdubus, you never came back. Are you still around?

Implementing money management / position sizing is generally trivial. Explaining the trading decision logic CLEARLY is the hard part. It doesn't work to say "I watch it until it looks good, then I exit and ride it until the move slows down." Nobody can work with vague descriptions like that. That's like a cook saying "Oh it's easy to make a cake. Just mix the right ingredients together until it looks good, then bake until done." I don't want to eat the cake you bake with that recipe.

Describe exactly HOW you decide to enter and to exit, and somebody can probably help you.