I have built a simply scalping strategy that works pretty well (have been live trading for around 6 months.) It works of the 1 and 5 minute charts and does really well on the GBPUSD, AUDUSD AND EURUSD (does work well on any yen pair). Now the strategy risks 20 pips to make a profit of 4 but is highly, highly consistent. That being said, I am a terrible coder so I thought I would throw it out to the community to discuss how we can best optimise the risk to reward ratio. I also think it would be great if anyone knows how to hedge a losing position at say 10 pips down then when another buy is triggered remove the hedge and add an additional position. I also need it to kill positions for me a couple of hours before NY closes on Friday and not open until 4 hours after the market opens in the Asian session on Monday. I am open to any thoughts at all to be honest so if you have one, please lets open some discussion.
Below is the indicator first, then the code. I would be really interested to hear what people think
Hi Francesco. I was wondering if you had a chance to see my results? May I ask what you are getting? I see you have the ability to test for longer so would be really keen to get your thoughts. Regards Cameron
Hello Cameron, your results are ok, but they consider only a very short period of time, I think only 10k bars, for this reason they dont look statistically significant.
YOur strategy is interesting but you should I think make it work on 100k bars.
Sounds logic since you are averaging down if the price continue to fell. The stoploss is fine, but you need at least 4 trades to stay flat after only 1 loosing order. Francesco is right, you should test it on a longer period. Good luck 🙂
Thanks gentlemen. I appreciate it. A quick question, I use IG from Australia so have limited data to test with. May I ask, what do you think the best way to have a system tested is ? Are there people I can pay to do it or should I purchase a full license with PRT direct. I have been trading it live for around 6 months and it gives me similar results to my test but I would sleep easier with some longer and more robust testing.
Also, the strat doesn’t average down. It just does a straight 20-4. I was wondering if averaging down would improve it but I struggle with some of the code.
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