New EA 100 PIPS DAILY SET& FORGET IT

Hi:

This is the latest strategy released (June 2010) by Karl Dittmann - 100 PIPS DAILY SET& FORGET
Strategy is very simple and I would like to know if Funyoo can make EA out of this strategy. I think you've already have similar EA here. Perhaps, you can do a little modification from existing similar EA or creating from scratch, either way, I would very much appreciate it. Basic strategy rules mentioned below. All the bells and Whistles can be added. i.e. step trailing, moneymanagement for the lot size allocation, etc. Also, if we can add an option of xx number of trade to open, we do not have to open all 6 pending orders. We can open 4 pending orders (2 longs and 2 shorts, etc.) - optional

Thanks,

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Simple system is time based and can be used only once a day: Max Daily Profit Potential: 100 pips
Trade Setup at: new day (00:00gmt? or different for different broker?, but setup at new day starts)
1) Find Previous day's High and Low price (he suggest 6pm EST to 6pm EST as 1 day's high/low)
2) Set up 6 pending orders : 3 StopBuy orders and 3 StopSell orders
3) Set it and forget it.
4) by 6PM new day remove all un-triggered orders and set up new pending orders.
Note: Do not trade (no setup) if 6pm to 6pm bar's high/low is > 150 pips
JPY pair works best. (USDJPY). EUR/JPY or GBPJPY may need to adjust SL and TP - not sure the optimal setting for SL/TP

Set 3 BUY orders 7 pips above the high (high + 7 pips)
Order 1 Entry: High +7pips
Set take profit 15 pips and stop loss 25 pips
Order 2 Entry: High +7pips
Set take profit 35 pips and stop loss 25 pips
Order 3 Entry: High +7pips
Set take profit 50 pips and stop loss 25 pips

Set 3 SELL orders 7 pips below the low (low -7 pips)
Order 1 Entry: Low -7pips
Set take profit 15 pips and stop loss 25 pips
Order 2 Entry: Low -7pips
Set take profit 35 pips and stop loss 25 pips
Order 3 Entry: Low -7pips
Set take profit 50 pips and stop loss 25 pips


Example for Long Orders:
USD/JPY High=90.50 Low=90.00
Order example 1 LONG=90.57 Take Profit=90.72 Stop
loss=90.32
Order example 2 LONG=90.57 Take Profit=90.92 Stop
loss=90.32
Order example 3 LONG=90.57 Take Profit=91.07 Stop
loss=90.32

Example for Short Orders:
High=90.50 Low=90.00
Order example 1 SHORT=89.93 Take Profit=89.78 Stop
loss=90.18
Order example 2 SHORT=89.93 Take Profit=89.58 Stop
loss=90.18
Order example 3 SHORT=89.93 Take Profit=89.43 Stop
loss=90.18

The Max profit target = 100 pips. The other 3 scenarios are:
A) 2 orders profit targets are reached and the 3rd order is closed by the stop loss (25pips)
+15 pips +35 pips -25 pips = +25 pips profit
B) 1 order profit target is reached and the 2nd and 3rd orders are closed by the stop loss (25pips)
+15 pips -25 pips -25 pips = -35 pips
C) none of the orders profit targets are reached and all 3 trades are closed by the stop loss. -75 pips (happens very rarely!)

 

thank you very much my friend i have to FT next week

 

your welcome sir

 

thanks for sharing lets try!

 

i will test this ea . I hope 100 pips true

 

This is my review for this thread:
please read my reply.

 

Thank for sharing, maybe will useful for all member that like use ea
I think this also need test first in demo account if want to use later in real account

 

i will test in my vps

 

yes i will also test, thanks for the share

 

WOW, this is the best in USDJPY!

 

so is this a strategy you have to do manually or has it been modified to do it automatically now, cheers

 

i will try thanks

 

This is the latest strategy released (June 2010) by Karl Dittmann - 100 PIPS DAILY SET& FORGET

 

Thanks for sharing i will test.

 

Ok Thank you

 

Nice EA

 

Thanks for the share, will test.

 

Sorry for my "intrusion"... DON'T trust too much that guy, Karl D. - "the maltese" !!! ...he's filling up the Market - from many years - with garbage [different softwares & other small useful programs...]. He's NOT! even a trader, but a marketer and tries to sell "his thrash" trough ClickBank & ClickSell using dozens of blogs, promo links & banners everywhere on the internet. I considered ...You, guys, have the right to know these things!

P.S.: Hey, glosbe, please, DON'T be offended of my words, buddy !!!... i won't "destroy" your thread. One more thing: actually, this EA is pretty good, but needs a large Account or trading small lots ....aaaand much patience! All the best!!!

 

please share the updated ea

 

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