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| My Manual Grid System (HG) https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=505 |
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| Author: | Fmfx [ Tue Apr 24, 2012 7:30 am ] |
| Post subject: | My Manual Grid System (HG) |
Hello all, Please go to post #44 page5 for the updated rules I want to share with you a manual grid strategy that i have demo traded and now trading it live on my acc, the strategy consist of two Indicators which gives the entry signals. Once i enter a trade and it goes against me some X amount of pips i open another order in the same direction with the same lot, my first order entry point is then used as the TP for the second order while the first order will be closed at BE, if market decides to continue the opposite move i will continue to open new orders in the direction of the first one (max grid order is 2), the 3rd order is then closed at secound order entry price. If things decides to go bad for the open trades i will then try to hedge my way out of the DD (Still working on a good hedge/recovery strategy). I have been trading this system for two months now and i have only had to open just one grid order due to the entry accuracy. Time Frame: D1 Pairs: All TP: 80 to 100 pips First Grid Step: 100 to 130 pips Second Grid Step: 200 to 230 pips Max Grid order: 2 Emergency Exit: With all the brilliant minds around i'm sure we can work out something. NOTE: the minimum starting capital i recommend is $200 per pair using 0.01. (That is $200 capital for each trade you have running) Edit: Our brother Alperkorps has suggested a re-entry method instead of fixed X amount of pips, i think this will help reduce DD. Find details in post #2. Edit: I am currently trying this system on 4H chart, let's see what the turn out will be. I am trading these pairs on 4H XAUUSD,GBPUSD,EURUSD,GBPJPY & GBPAUD. Regards |
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| Author: | Alpenkorps [ Tue Apr 24, 2012 12:43 pm ] |
| Post subject: | Re: My Manual Grid System (HG) |
Interesting. I also follow a similar approach for recovery with my 4H swing trading. But instead of entering after x number of fixed pips, I wait for a proper reversal signal (according to my entry and exit rules). So if one signal goes wrong, and even if the next one, I can still recover the initial trade and make profit. |
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| Author: | Fmfx [ Thu Apr 26, 2012 7:04 am ] |
| Post subject: | Re: My Manual Grid System (HG) |
Thanks Alpenkorps, I like you idea of re-entry has it will help reduce DD, i think i will go that way. Regards  |
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| Author: | Fmfx [ Thu Apr 26, 2012 7:27 am ] |
| Post subject: | Re: My Manual Grid System (HG) |
Alright guys, I'm really sorry for not posting on time, my network was bad. Ok here's the first Indicator we will be using, TMA is an indicator that many of us very well know, it does repaint (partially on D1 chart) but that doesn't bother me bcos i only need price to touch/cross the upper or the lower band. Once price touch either the upper or lower band we'll wait for the next indicator to give us an entry. Our second Indicator is Price Action/Candle formations (PA). I watch out for PA setups like Reversal Pin bars and Engulfed bar (Picture sample attached below) |
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| Author: | Fmfx [ Thu Apr 26, 2012 8:13 am ] |
| Post subject: | Re: My Manual Grid System (HG) |
Alright, here are pictures sample of what we should be watching out for on our chart each time price touches or get close to the upper or lower TMA band. |
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| Author: | Alpenkorps [ Thu Apr 26, 2012 10:11 am ] |
| Post subject: | Re: My Manual Grid System (HG) |
Excellent approach. If you don't become greedy (mean if you use a tight MM with small lots), with the recovery system I have suggested, your system should be a consistent winner. Price action alone is pretty powerful to signal reversal points. I have never used TMA before, I have heard it lags pretty bad. I try to detect price swings on 4H using OB/OS, SR and pins/engulfs. Would you share your TMA settings so I can try this as an extra confirmation? |
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| Author: | Fmfx [ Thu Apr 26, 2012 4:54 pm ] |
| Post subject: | Re: My Manual Grid System (HG) |
Hello Alpenkorps, No doubt the re-entry system you suggested is perfect. About the TMA, yes it does repaint well on lower tf like 5M, 15M, and 30M, but on D1 chart it hardly repaint, even with the little repainting it does not affect the system in any way bcos all we are looking for is for price to touch either of the lower or the upper band then we enter with PA confirmation. I have made the settings default from within the code of the TMA, use it with the default settings. Best regards |
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| Author: | Alpenkorps [ Thu Apr 26, 2012 10:36 pm ] |
| Post subject: | Re: My Manual Grid System (HG) |
My first trade using TMA. As you can see its going pretty well.  So far it looks like an enjoyable system to me. But I am relying more on price action than TMA band. I'll see how the recovery goes when needed. |
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| Author: | Fmfx [ Thu Apr 26, 2012 10:49 pm ] |
| Post subject: | Re: My Manual Grid System (HG) |
Great Alpenkorps , that trade was well taken.I have never tried it on 4H before but i will watch closely. I hope the it hit the TP soon .Thanks, regards |
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| Author: | Fmfx [ Fri Apr 27, 2012 11:13 pm ] |
| Post subject: | Re: My Manual Grid System (HG) |
I have got my dog's watching GU, i hope to see the big fall next week .Regards |
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