I am working on developing a new system EA based on Ladder concept. Which means adding new trades in a user-definable step size as long as previous trades are not stopped. All trades will have unified SL that moves with each new ladder step and a Final Profit Target for all orders.
System Advantage:
System Advantage:
- Limited Low Risk (always fixed = initial risk)
- Very High Reward based on number of ladder steps and final profit target
As each trader has his own entry system, my inquiry is :
Should I include the first entry in the EA based on some strategy,
OR , I let the first order opened by the user and build up the ladder form there.
Your opinions are welcome
IMPORTANT WARNING: This is still work in progress, so do not try on Live Accounts.
Khalil Abokwaik
Version Control:
- Simplest Version 01 : LadderSystemEA_v01 Dated Nov 9, 2014 post # 26
- User First Order : LadderSystemEA_UFO Dated Nov 16, 2014 Post # 63
Members Wish List :
- aahmad29 : keep first order open by users because in that way all traders can start building ladder on the base of their concept or strategy
- DONE Nov, 16, 2014
- emmanuel7788 :The Initial SL is using the ADR and the position size calculate using a % of capital
- emmanuel7788 : The each subsequent add-on position is half of the initial trade
- emmanuel7788 :Trailing stop has differnt options
My translation to Members Wish List :
- Add an option to Enter 1st Order Manually, Or Automatically by the system built-in strategy
- Risk Percentage for 1st Order
- Variable Lot Size for new Orders
- Trailing Stop Option (Different from the initial stop). This is important as we want to keep our initial stop small until the trend is clear, then we can trail the running profit orders with a wider trailing stop to let the trend breath.
No guts, no glory