Winners And Losers Trading System
I have a friend who only has $10,000 in a demo account with IBFX and makes $8000 a day through Forex.
I asked him how he did it and his method was simple. I wanted to create it as ea, so I wrote the logic of the program here:
EA Name: Winners and Losers
User adjustable variables:
A - Lot size for both trades
B - Minimum profit run (in points)
C - Trailing Stop (in pips)
D - Stop loss for losing side (in points)
Action rules:
Do the following when activating the EA
- Open a purchase with trading lot "A"
- Open a sale with lot size "A"
- Wait until point "B" of buying or selling is favorable to you
Example:
For Buying On the other hand, the price will have to move UP to point "B"
For Sell On the other hand, the price will have to move downward to point "B"
Then apply a trailing stop with value "C" to the winning trade
Let profits accumulate until stop loss is activated.
Modify a losing trade by adding a trailing stop equal to "D" when Stop Loss is activated on a winning trade
When the remaining transactions are stopped, the cycle then starts again.
Additional requirements: None... although it would be better to display the value of open positions in the currency pair chart
Anyone want to try this?
I asked him how he did it and his method was simple. I wanted to create it as ea, so I wrote the logic of the program here:
EA Name: Winners and Losers
User adjustable variables:
A - Lot size for both trades
B - Minimum profit run (in points)
C - Trailing Stop (in pips)
D - Stop loss for losing side (in points)
Action rules:
Do the following when activating the EA
- Open a purchase with trading lot "A"
- Open a sale with lot size "A"
- Wait until point "B" of buying or selling is favorable to you
Example:
For Buying On the other hand, the price will have to move UP to point "B"
For Sell On the other hand, the price will have to move downward to point "B"
Then apply a trailing stop with value "C" to the winning trade
Let profits accumulate until stop loss is activated.
Modify a losing trade by adding a trailing stop equal to "D" when Stop Loss is activated on a winning trade
When the remaining transactions are stopped, the cycle then starts again.
Additional requirements: None... although it would be better to display the value of open positions in the currency pair chart
Anyone want to try this?
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