PS: I just realised I left out the grid size - 7 points

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sharks37

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01/11/19

23:35

Post #: 41211465
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Originally posted by sharks37: ↑

Hi Mike

Yes impatience is a killer and it is always very tempting to go live too soon (i.e. before being truly ready).

After some trial and error I have settled on a standard grid size for all the markets I use this EA on. I am sticking to 0.01 lot size for all trades - I allow a maximum of 10 entries in each direction although typically there is a net bis in one direction or the other at different times of course. I see no point in demo trading larger lot sizes than I would use starting live. If/when I go live with this one I will start with 0.01 orders, and if it is successful I will gradually increase that in steps of 0.01 probably every 3 months. If it does well that means in 10 quarters it would be trading 0.1 lot size orders so that would be pretty heavy duty for me - but if successful for 10 quarters it would have proven itself well and truly by then, and I don't think I would increase it beyond that.

Your comment about the profit target is interesting - my profit target is a gross profit target - I tested a net profit target and found the results weren't as good in my case - the idea for mine is basically to get in and get out as quickly as possible before a breakout and trend occur, so targeting a gross profit figure and netting off at the end seems better suited for that approach.

One interesting thing about this type of trading approach is that it just goes to show that you don't need any indicators to mke money - I use the most basic of pure price action signals to signal the start of a run, and then its pure trade and money management.

Good luck with the GN.

Cheers, Sharks

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PS: I just realised I left out the grid size - 7 points
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