Impressive !
but actually there is no SL to prevent BlackSwan / News i.E, so it has to be completly under visual control all the time with your Set-Files? Is this right?
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| Author: | fxstrategie [ Fri Feb 24, 2017 12:18 pm ] |
| Post subject: | Gridtrading from daily open |
Impressive ! but actually there is no SL to prevent BlackSwan / News i.E, so it has to be completly under visual control all the time with your Set-Files? Is this right? |
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| Author: | TraderJoeForex [ Fri Feb 24, 2017 3:31 pm ] |
| Post subject: | Gridtrading from daily open |
Because the grid places buys above price and sells below we want volatile conditions with this strategy so all news is good news. If price ranges rather than breaking out then the grid offers a hedging effect instead of one-sided trading where you might use a SL and if a breakout never comes then you could always activate the offsetting to deal with the growing sideways position. In the event of an extreme spike/crash/black swan the 2 ADR TP would be reached very quickly and assuming the positions could be closed the profit would be banked and no further action would be taken that day. This is why I use 2ADR for TP on the Daily chart.. or you could choose 1ADR which would be even safer. Often price will move much further over time but in an extreme event where price might spike BOTH ways in succession.. we want to get out on the first spike so that we don't get trapped. If you look at GBP pairs during Brexit and October flash crash last year as an example or CHF pairs around the SNB intervention then this method should have survived just fine and banked it's pips. It's the main reason I am now focussing on trading this way as I have got burnt too many times with one-sided exposure. So to answer your question I'd say a few minutes each night is all you need with the D1 method and perhaps around midday each day too with the H4 method. It's about as hands off as you can get or you could always try W1 grids with Monthly pair selection requiring just a few minutes chart time each week for a long term view  |
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| Author: | TraderJoeForex [ Fri Feb 24, 2017 7:49 pm ] |
| Post subject: | Gridtrading from daily open |
Another two H4 wins today adding another 100pips from CHFJPY and NZDCHF takes the total to 575pips for this week with just EURCAD and AUDUSD D1 trades carrying over to next week with minimal drawdown. Have a good weekend everyone...  |
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| Author: | SteveHopwood [ Fri Feb 24, 2017 8:24 pm ] |
| Post subject: | Gridtrading from daily open |
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| Author: | andwen [ Sun Feb 26, 2017 2:51 am ] |
| Post subject: | Gridtrading from daily open |
Hi TJF. Very good results. I am setting up a VPS to allow testing of your setfile and other things. From a personal perspective it would be perfect if all I needed was to spend a few mins a day checking on things and allow the EA to chug away quietly. Simply not able to sit in front of screen all day whilst working full time and beyond...  Once set up will post results here for all to benefit. Following with keen interest :hi: |
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| Author: | TraderJoeForex [ Sun Feb 26, 2017 10:37 am ] |
| Post subject: | Gridtrading from daily open |
...Great  |
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| Author: | TraderJoeForex [ Sun Feb 26, 2017 10:34 pm ] |
| Post subject: | Gridtrading from daily open |
No D1 Flying Buddhas on Friday but four new W1 FB for last week so just added D1 EA's for AUDCAD, AUDCHF, AUDNZD and EURAUD( ... looks like AUD setting up for a breakout against all other currencies soon then). Bring on the pips!  |
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| Author: | TraderJoeForex [ Wed Mar 01, 2017 11:52 am ] |
| Post subject: | Gridtrading from daily open |
I took the chance yesterday to close out EURCAD in profit which had rolled over from last week and with a home run on AUDCAD and a few new H4 wins that takes the total now to 1075pips for 8 trading day which is greater than the drawdown so far. :youknow: I am also looking at another way to launch the grids using Steve's new Peak Hi Lo indicator in post 2 here: http://www.stevehopwoodforex.com/phpBB3 ... =59&t=4795 .. each week choosing the pairs where a new M15 peak high or low occurs on a Tuesday and then launching the grids on these pairs at Tuesday close. The idea being that most weekly candles are full and it is usually sometime on Tuesday that each pair settles on it's direction for the week so why not launch the grids there (without waiting for an 5ema cross) where there is greatest chance of a breakout either way and follow through for the rest of the week. This week I have 7 pairs for this test from yesterday so will update with more info on Friday if it works. |
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| Author: | SteveHopwood [ Wed Mar 01, 2017 12:33 pm ] |
| Post subject: | Gridtrading from daily open |
This is easy to automate as a trading option. See how it goes this week and I can add the code over the weekend if it looks promising.  |
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| Author: | TraderJoeForex [ Wed Mar 01, 2017 1:36 pm ] |
| Post subject: | Gridtrading from daily open |
Awesome, cheers Steve |
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