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Gridtrading from daily open
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=4666		 Page 8 of 37
Author:  marcoFF [ Wed Apr 06, 2016 8:41 am ]
Post subject:  Gridtrading from daily open
Gertje » Wed Apr 06, 2016 8:56 am wrote:
marcoFF » Wed Apr 06, 2016 6:58 am wrote:I have a decent DD on GA and GN, respectively 254€ and 320€ with a 0.03 for trade.. i'm the only?
Seems a bit high for 0.03 per trade.
I have DD as well, GBPJPY fully hedged, GBPNZD 3 sells and price back to the DO.


Together some $42,- DD.

GBPAUD already closed for 100pips.
I haven't close to prevent rollover yesterday night, i have 3 buy 2 sell GJ (-90)
6 buy 4 sell GA (-250)
7 buy 6 sell GN (-310).
Author:  Gertje [ Wed Apr 06, 2016 8:46 am ]
Post subject:  Gridtrading from daily open
marcoFF » Wed Apr 06, 2016 8:41 am wrote:
I haven't close to prevent rollover yesterday night, i have 3 buy 2 sell GJ (-90)
6 buy 4 sell GA (-250)
7 buy 6 sell GN (-310).
Weird. 20 pip grid?
What are your exitplans?

With a 20 pip grid, aiming for 100pips you need;
3 winners / 0 losers
5 winners / 1 loser
7 winners / 2 losers
Etc.

For every losing trade [against the direction] you need to add 2 winners to get to 100pips.
Author:  marcoFF [ Wed Apr 06, 2016 8:49 am ]
Post subject:  Gridtrading from daily open
Gertje » Wed Apr 06, 2016 9:46 am wrote:
marcoFF » Wed Apr 06, 2016 8:41 am wrote:
I haven't close to prevent rollover yesterday night, i have 3 buy 2 sell GJ (-90)
6 buy 4 sell GA (-250)
7 buy 6 sell GN (-310).
Weird. 20 pip grid?
What are your exitplans?

With a 20 pip grid, aiming for 100pips you need;
3 winners / 0 losers
5 winners / 1 loser
7 winners / 2 losers
Etc.

For every losing trade [against the direction] you need to add 2 winners to get to 100pips.
20 pips grid, 100 pips target.
For your 100 pips target are you using APTM?
How do you manage trading hours (es. close before rollover, reopen, take only a basket per currency per pair..)?
Author:  Gertje [ Wed Apr 06, 2016 8:54 am ]
Post subject:  Gridtrading from daily open
marcoFF » Wed Apr 06, 2016 8:49 am wrote:
20 pips grid, 100 pips target.
For your 100 pips target are you using APTM?
How do you manage trading hours (es. close before rollover, reopen, take only a basket per currency per pair..)?
It's all within GW.
I don't close open trades before rollover, I just re-open the grids some minutes after rollover.

Setfile attached.
Author:  marcoFF [ Wed Apr 06, 2016 9:00 am ]
Post subject:  Gridtrading from daily open
Gertje » Wed Apr 06, 2016 9:54 am wrote:
marcoFF » Wed Apr 06, 2016 8:49 am wrote:
20 pips grid, 100 pips target.
For your 100 pips target are you using APTM?
How do you manage trading hours (es. close before rollover, reopen, take only a basket per currency per pair..)?
It's all within GW.
I don't close open trades before rollover, I just re-open the grids some minutes after rollover.

Setfile attached.
So you take the trades open, close the pending and restart a new grid? So some days you doubled your exposition on same pair?
After you have reached the 100 pip target on a pair you stop trading and wait the new daily open?
Thanks for your help :hi:
Author:  Gertje [ Wed Apr 06, 2016 9:31 am ]
Post subject:  Gridtrading from daily open
marcoFF » Wed Apr 06, 2016 9:00 am wrote:
So you take the trades open, close the pending and restart a new grid? So some days you doubled your exposition on same pair?
After you have reached the 100 pip target on a pair you stop trading and wait the new daily open?
Thanks for your help :hi:
This is all early days yet, thusfar I see 2 possibilities at the end of the trading day;
- The basket is closed for 100pips. Wait till after rollover and set a new grid around the DO.
- The basket didn't close. I leave the open orders and pendings in place to try to close the next day. No closing or deleting pending orders, just wait.

What I did do yesterday on GBPJPY, was open another chart, and set a 2nd grid with a different magic# with GW so the new basket would be independant from the old one. The new one closed early morning, the old one closed in the afternoon.

After a basket closes, I'm done trading that pair for the day and wait till rollover to start a new grid.
Author:  TraderJoeForex [ Wed Apr 06, 2016 9:43 am ]
Post subject:  Gridtrading from daily open
Foreverforex » Wed Apr 06, 2016 12:57 am wrote:Trader Joe,

What are you using to manage baskets and set jumping sl for GW?

I've been trying to get settings right on SAPBTM, but I can't seem to get right combo. Do you mind posting a set file for whichever trade manager you're using?

Thanks,

FF
I am just using the version of MPBM that Steve posted here on page 2.
Author:  pg2205 [ Wed Apr 06, 2016 11:02 am ]
Post subject:  Gridtrading from daily open
Gertje » Wed Apr 06, 2016 6:46 pm wrote:
marcoFF » Wed Apr 06, 2016 8:41 am wrote:
I haven't close to prevent rollover yesterday night, i have 3 buy 2 sell GJ (-90)
6 buy 4 sell GA (-250)
7 buy 6 sell GN (-310).
Weird. 20 pip grid?
What are your exitplans?

With a 20 pip grid, aiming for 100pips you need;
3 winners / 0 losers
5 winners / 1 loser
7 winners / 2 losers
Etc.

For every losing trade [against the direction] you need to add 2 winners to get to 100pips.
Hi Gertje,

I've been following your method for some time and I want to thank you (and Steve) for sharing this with us. I myself has been toying around with grid trading and am keen to fully understand your method.

Please correct me if I'm wrong, but if we are using the scenarios you mentioned (3 winners / 0 losers..
5 winners / 1 loser .. 7 winners / 2 losers...etc) , I see the pip calculations as follows:
capture.PNG
so to me it appears there is more pips that you win using your scenarios. :shock:

I guess I'm trying to understand what you mean by arriving at 100 pips.

Thanks
Author:  Gertje [ Wed Apr 06, 2016 11:56 am ]
Post subject:  Gridtrading from daily open
Hi,

The TP isn't dead on the last trade.
Also, you start counting pips at the DO, where the pipcount starts from the 1st open order.
See below on the righthand chart, GBPNZD that just closed.
3 orders were opened, and halfway the 3th/ 4th order the basket closed for 100pips.
Grid DO.png
On the lefthand chart, GBPJPY, price is just above the yellow/ orange line. This line is the BE point between the 6 sells and the 2 buys. In order to TP, 100pips have to be gained from there.
This needs to be done by 6 sells -/- 2 buys = 4 sells, because 2 of the sells hedge the buys.
100 pips / 4 orders = 25 pips movement.
Because the grid is 20 pips, another trade will open before TP=100 is reached, leaving 4 pips to gain for the now 5 earning trades to reach the desired 100 pips.

I hope this makes sence, if not let me know and I'll try again.
Of course there's more pips to gain, we need to leave some for the HGBnG to earn....
:jump:
Author:  Foreverforex [ Wed Apr 06, 2016 1:37 pm ]
Post subject:  Gridtrading from daily open
TraderJoeForex » Wed Apr 06, 2016 1:43 am wrote:
I am just using the version of MPBM that Steve posted here on page 2.
Great. Thanks!
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