100 x 80 EA oh boy (100 x 80 EA oh boy) - MT4/MT5 Resources
In another post I talked about range trading. Rather than trading at specific entry and exit points, you trade within the range of currency movements. Therefore, if the price remains within a certain range during the day, you will not lose money on the day. You can make losing trades, but you can't lose money. The range of this EA is 800 pips, and as long as the price does not exceed 800 pips in a day, you are safe. I did some research on currencies and found that very few currencies break 800 points in a single day. Therefore we do not use EUR/AUD, GBP/JPY, GBP/NZD, GBP, CHF. There are some exotics that I won't use, like Mexican, Cron, etc. I have 12 in a zip file ready to use. This EA trades for pennies, I only attached a non-adjustable EA. The price per lot is 0.01. If you trade cents with a micro account, it's 1 cent per trade, compared to 0.10 cents per trade with a regular and mini account. I tested this using IBFX.
The logic is very simple, if the price moves 100 pips in any profitable direction, re-enter every 80 pips. Profit is taken every 100 pips when the price moves in one direction and re-enters the opposite direction multiplied by 2 every 80 pips. So the 10 levels will look like this:
.01,.02,.04,.08,.16,.32,.64,1.28,2.56,5.18
When the price reverses, it profits from trades in the opposite direction. The philosophy is simple. Every day has its highs and lows. When the price moves towards the high/low of the day, we take profit on the move up/down. We take profit when price reverses and heads towards the day's low/high. As the price changes, the margin deficit falls, and the difference between it and the profit we make is our profit for the day. When this happens, you shut everything down and start over the next day. I recommend you start around 0 or 1 GMT or around the opening of the yen and start looking for profits in the middle of the Euro session or the beginning of the US session (10-18 GMT). We close the EA and all trades every day to prevent the price from sneaking past the 800 pip range. We never trade on the weekends. Test using a demo account with at least $5,000. If your account uses 10 cent lots, you may want to test with at least 10,000 cent lots. I will attach the zip package in this post and tell them where to put them in the next post.
Additionally, more information on how this system works can be found in posts 1-4 and MQ4 in post #72.
Post #74 Page. Chapter 5 gives the philosophical workings of the system, and Chapter 79 gives a diagrammatic view of how the system works.
Post#125 on page 9 gives my 7-year monetary situation table.
Post #192 gives some personal thoughts on trading Post #267 P. 18 gives odds of breaking 800 points in one day
Post #306 P.21 shows how to change account protection settings in code.
Posted on pages 521 and 522. 35 There is an important new tool for determining which currencies to use.
The logic is very simple, if the price moves 100 pips in any profitable direction, re-enter every 80 pips. Profit is taken every 100 pips when the price moves in one direction and re-enters the opposite direction multiplied by 2 every 80 pips. So the 10 levels will look like this:
.01,.02,.04,.08,.16,.32,.64,1.28,2.56,5.18
When the price reverses, it profits from trades in the opposite direction. The philosophy is simple. Every day has its highs and lows. When the price moves towards the high/low of the day, we take profit on the move up/down. We take profit when price reverses and heads towards the day's low/high. As the price changes, the margin deficit falls, and the difference between it and the profit we make is our profit for the day. When this happens, you shut everything down and start over the next day. I recommend you start around 0 or 1 GMT or around the opening of the yen and start looking for profits in the middle of the Euro session or the beginning of the US session (10-18 GMT). We close the EA and all trades every day to prevent the price from sneaking past the 800 pip range. We never trade on the weekends. Test using a demo account with at least $5,000. If your account uses 10 cent lots, you may want to test with at least 10,000 cent lots. I will attach the zip package in this post and tell them where to put them in the next post.
Additionally, more information on how this system works can be found in posts 1-4 and MQ4 in post #72.
Post #74 Page. Chapter 5 gives the philosophical workings of the system, and Chapter 79 gives a diagrammatic view of how the system works.
Post#125 on page 9 gives my 7-year monetary situation table.
Post #192 gives some personal thoughts on trading Post #267 P. 18 gives odds of breaking 800 points in one day
Post #306 P.21 shows how to change account protection settings in code.
Posted on pages 521 and 522. 35 There is an important new tool for determining which currencies to use.
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