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I can't decide if this really is the dumbest thing I have ever seen or utter genius.... I'll code my own EA tomorrow and get back to you. As a side note, for those trading brokers with bigger spreads, I believe changing an EA to search for those brief moments when the spread drops below its typical value would likely improve the profitability of this system a lot (if it truly is profitable...)
1 guie from me. I've got an EA that's doing just that. I have completely abandoned the idea of opening buy trades at the ask price and launching trades in the bid price. I also abandoned sell trades that were closingto happen at ask price and closing buy trades, in SL, to happen in bid price. Just flip them over. Absolutely abandon opening new trades as stop orders, whether market or pending. Better go just after the market and forget about the pendings.
Open buys at bid, sells at ask. Close in SL: sells in the bid price and buys in the ask price. TP goes the Currency Market way anyway.
What you will benefit? At news times, the spread that is large will touch your SLs and also, you will avoid the artificial slippage. At spread times, all cease orders within the range of the spread and the transfer get started WITHOUT the rate being there. Whatsoever. Same thing happens with all the SLs! Many SLs take place WITHOUT the rate being really there. So, you will avoid that to take place. Fantastic luck.
Do you mean like this:Quote:
Originally Posted by ;
Open brief ==gt;
OrderSend(symbol, OP_SELL, lot, Ask, Slippage, sl, tp, remark, magic, 0, clSell);
I am sure you would get an OrderSend mistake ... MT4 doesn't allow selling at the Ask or buying at the Bid.
MT4 does not need to understand you are tracking both prices but you are performing the activities at the so called internal price. When the price goes up, the price is your bid price. When the rate goes down, the price is the ask price.Quote:
Originally Posted by ;
Naturally a sell is always open at bid plus a buy always gets open at ask. You must do it to observe the positive aspects. Less SLs in a first Loion. Wrong direction transactions in second loion. Better functionality. News trading might be a bonus, in my opinion. But don't being dumb by quickly shutting down the winners. Only HEDGE them and leave them open for hours. Then the broker can't accuse you of being a news trader...
Sorry I don't understand what you mean.Quote:
Originally Posted by ;
If a sell is open at bid and a buy always gets available at ask. How do you sell at the ask and buy in the bid ?
To illue, when a sell is triggered, does the ea subsequently wait for the bid to become the ask ?
In case you have to trigger a market, you wait for the ask price to get there then trigger a MARKET market order. Same with the buy orders. You wait for the bid to get to the amount that you want to start a buy order and once the rate is there - you start it .Quote:
Originally Posted by ;
It takes me rather of typing to explain why you ought to do that. In general, disperse is forex main defense system. When you get started trading stop and limit orders in two different accounts, same settings, same geometry, same grid, same counter, same lots, same multipliers, same TP/SL, you may see how different the cease orders are, compared to the consequence of the limit orders. And this tells it all.
You need to protect yourself from unnecessary triggering of SLs and all SLs, regardless the trade trigger type (limit or stop), are predied upon the stop price! While the TPs are predied on the limit price (how convenient!) . That's a great vulnerability for those traders. The traders do not get it... throughout these years of computer and digital trading.
Yes, there's a price you have to pay (one disperse less at the TP management and you disperse more at the SL direction), but I pay it with the greatest of my pleasures, cause I am 1-2-3 SLs less, sometimes even more, compared to the customary way they screw up the traders by opening/closing trades at rates the rate never being at, in a first loion!
Another thing. The limit pending orders tells you the next direction the rate is going to. How they do that? Forex is trying to get along the direction, as little as potential profitable trades as numerous as losing trades. At the ideal time, just prior to the motion, the winning limit orders get triggered VERY HARDLY, generally they do not trigger, while the shedding limit orders always open... that's at the ideal moment.
I agree. And now I have been observing this also in a different way:Quote:
Originally Posted by ;
At the right time, just before the motion, the winning limit orders become triggered VERY HARDLY, usually they do not activate, while the losing limit orders always open... that is at the right time
But, how do you know that the WINNING limit orders are Buy orders for example ?
To recap, this is what I will examine.
When a sell is triggered, place a limit order to sell at the ASK.
When a buy is triggered, set a limit order to buy at the BID.
When the buy limit don't trigger, this really is the final direction. This thing happens in about 38 percent of all events in just a range. Before the motion, when the rate leaves the range to get a time, this percentage is higher, but I have no precise data about it does open the winning limitation or not. I just noticed the winning limit order stays as pending and the market order opened is the losing limit order. In the majority of the circumstances, the bid price was there, at the buy limit rate... This is the way it works.Quote:
Originally Posted by ;
Try this. Only market orders. Utilize the bid prices as a foundation, as the charts get attracted from the bid price.Quote:
Originally Posted by ;
Rate currently is 1.1040.
Wish to make a market at 1.1030? Do the following. If the ask price is 1.1030, open a market sell. I guess sell's actual market price will probably be at 1.1029 or some thing. Decide on a SL at 1.1080. Now the rate moves towards your SL. Close the market at SL when the bid price is 1.1080.
Do so at news occasions. When the spread widens. See what happens.
When limit orders are getting hit really hard could it make sense to count on how many hits you will find at the bid and the number of hits at the ask ?Quote:
Originally Posted by ;
For exemple, in case there are more hits at the bid then it's selling pressure coming in ?
Limit orders are NEVER ever hit very hard. You can only dream about this! That is when you exchange same egy the limitation never comes anywhere close to the DD of this stop egy, as profit I mean. You may wind up in both limit and stop approaches losing cash.Quote:
Originally Posted by ;
When there are more hits on the bid, it does mean that the price is about to return. However, you need a way of counting the hits, a way which EXCLUDES the disperse.
BTW, with pending limit orders, on a broker with HIGH spreads, an individual can more easily grab the ideal direction, trigger the winning limit order infrequently opens anyway...https://www.nigeriaforextrading.com/...1525131709.png