I've a buddy that was making $8000 in Foreign Exchange daily starting out with just 10K in demo account with IBFX.
I questioned him how he did it and his method was rather simple. I wanted to create it as an ea, and so I wrote out the logic to the app here:
EA Title: Winners and Looses
User adjustable Factors:
A - Lot Size Of The two Groups
B - Minimum Profit Run (In Pips)
C - Trailing Stop (In Pips)
D - Loosing Side Stop reduction (In Pips)
Action Rules:
At the time the EA is triggered Do the next
- Open One Buy Trade Of Lot size A
- Open One Sell Trade Of Lot size A
- Wait till the buy or the market has moved B pips in its favor
Example:
for the BUY Side, the price Would Need to move UP B pips
for the SELL Side, the price Would Need to move DOWN B pips
THEN employ a trailing stop loss whose value is C to the profitable commerce
Let Profits add up before the stop loss is activated.
Once the stop loss is triggered for the profitable commerce change the loosing trade by adding a trailing stop loss equivalent to D
When the remaining trade stops out then begin the cycle over again.
Additional Requirements: None... although It would be good to reveal values of the open positions in the currency pair chart
Does anyone want to take a crack at this one?