There you go:

DEFPARAM CumulateOrders = True
//
Timeframe(Daily,UpdateOnClose)
IF Not OnMarket THEN
   TradeON = 1
   Count   = 0
ELSE
   Count = Count  + 1
   IF Count > 2 THEN
      TradeON = 0
   ENDIF
ENDIF
//
Timeframe(1h,UpdateOnClose)
IF TradeON THEN               //you may want to add  other entry conditions
   BUY 100 CONTRACTS AT MARKET
ENDIF

bear in mind that 48 hours * 100 is 4800 contracts, which could be way more than allowed (ProOrder allows no more than 999 contracts, but IG could allow less than that).

I have no memory of other posts on this topic.

Another way could be to count how many 1-hour have passed since a trade was entered and stop countind (and entering) when 48 is reached.

Doing date and time math calculations is a bit more complicated because there’s no built-in functions, this could be an alternative way:

DEFPARAM CumulateOrders = True
//
Timeframe(1h,UpdateOnClose)
IF Not OnMarket THEN
   TradeON  = 1
   DayCount = 0
   MyTime   = 0
ELSE
   IF MyTime = 0 THEN
      MyTime = OpenTime
   ENDIF
   IF IntraDayBarIndex = 0 THEN
      DayCount = DayCount + 1
   ENDIF
ENDIF
IF OnMarket AND (DayCount = 2) AND (OpenTime = MyTime) THEN
   TradeON = 0
ENDIF
IF TradeON THEN               //you may want to add  other entry conditions
   BUY 100 CONTRACTS AT MARKET
ENDIF

You can use Mini contracts worth €1 each (EURUSD Mini, etc…, which is ten times less.

The EURUSD mini is 1$ per point increase in price.

What value you wanting to trade?

Try US500, 1 Contract at 4200 ish?

I’m smiling because in your original post you mentioned buying 100 Contracts every hour!  I thought … WOW the big boys are joining us little fishers!!!!! 🙂

As far as I can tell, one contract of EUR/USD = 100.000 euros, hence ~ USD 120.000. The Mini is 1/10th of that indeed. However, you can buy fractions of a contract like 0.1 Mini contract.
I don’t know about a minimum.

Do notice that this is IG. For IBKR there is a hard minimum of USD 20.000. I recall vaguely that even that can be less by means of using special Exchanges. But you can’t address those via PRT (you can via Trader Workstation). Don’t pin me down on this.

hanshs wrote:

How come it is not like this here?

CFD = Contracts for Difference, so 1 contract = the value of the price change per point (or pip). I think perhaps you are confusing this with the underlying nominal value – which is still an important consideration, but because it is a leveraged product, each contract costs only a fraction of that, probably 5%. That is the margin, ie how much capital it costs you to make the trade.

As for the strategy, it seems to be lacking any theoretical basis, or at least some technical measure of the overall price movement (trend). To buy repeatedly on the hour, either you assume the instrument is in a persistent up-trend – in which case I want to know why you would assume that? or if it’s falling, you want to continually average your position down for when it turns the corner … in which case I’m thinking, why not just wait for it to turn up and then buy?

You might at least try adding a moving average filter … and then you would probably want a stoploss and a target, maybe a trailing stop. Lots of things to play around with, see what works.