Hi Mike, your post about biased grid systems got me thinking and gave me the idea to modify my current grid EA to allow bias selection and see if I could get results I am happy with using a similar approach as I am using for the un-biased version (i.e. starting it on the basis of a price action signal on the daily chart and letting it run either for a fixed profit target and/or a limited time and/or until I see a daily price action signal which would suggest I should close it). It didn't take me long to get results I was happy with, and the risk profile seems to be very similar to the un-biased version I have already built. A nice feature of this biased version is that I can use it to complement the un-biased version, since (a) I use it based on daily price action signals in the same way, and (b) one should perform well when the other doesn't - so good diversification between the two versions.
I will run this in my demo account alongside my un-biased grid EA (i.e. both in semi-auto mode, triggered by relevant price action signals) and will see if it performs as well as the limited backtests I've done shows that it can. I will post some results when I get them.
Zesty, the results I'm getting with my grid EA both in backtesting and demo suggest that trade management (mechanism, grid size, closing out) is far more important than trade entry (selection/prevention). The sense I'm getting from my results is that even if the entry is not ideal or turns out to be poorly timed, the loss can be limited quite well with a good TM strategy.
