Discussão Gamblers Dream 1.6

April 4th, went back to the drawing board with Gambler's Dream Grid.

Gambler's Dream uses a primary order with a recovery grid of 4-5 levels. Only used when previous market range is within grid levels.

NO trading the remainder of the week due to France Elections this weekend. Broker leverage lowered.

Basis of the EA is based on gambling strategy, not typical Forex trading strategies. Trading when the odds are in your favor. In gambling the house always wins if you sit in the chair long enough. You have to find those situations where a trade is most likely to recover or choose to not trade at all.

The EA is a grid recovery strategy. An initial trade is placed using the Heiken Ashi as the determining factor whether the trade will go long or short.

When loaded on a chart, it will not trade. But will draw guide lines as to where it's orders will be placed.

If the current Heiken Ashi is signaling a LONG trade, the indicator will show a Green Line where trade will occur, and multiple grid levels based on user definable settings. If the current Heiken Ashi is signaling a SHORT trade, the indicator will show a RED Line where trade will occur, and multiple grid levels based on user definable settings.

The trick when using a grid or martingale style methodology, is to know when to NOT place the trade. In the example above, the price has been ranging for some time between the order entry and the 2nd pending order. If the START button is clicked, it would place a single LONG order at the green line, and 4 pending orders at the gold lines. With a stop loss at the base of the grid in purple.

Based only on the example above, I would probably not click the start button. But, if I did, it would have a good chance to recover based on history of the chart.

I am trading very aggressively to reach personal milestones with a small account balance. Risk is greatly reduced if using a larger balance.

With the upcoming elections in France, I am also testing the partial auto trade functionality.

I also designed it where a grid/martingales does not have to be used. Can be used to trade single order with Stop Loss

Ready for trading live on Monday. Adjusted lot size to .01 per $300 which gives me a max risk of approx. $100.00 or 33% if a sequence fails. 33% is high for most traders, but so far, I may lose a trade but rarely lose a sequence. None in past month.

The closer I get to $600, the risk drops down to 16%. Then back up to 33% when I increase base lot size to .02.

And even if I blow a sequence I am still trading a martingale without blowing the account. As long as I stay away from news events and plan the EA start at best price action for a grid or martingale recovery.

I thought I should elaborate what I mean on Trade 'sequence'.

The purpose of the EA is that when loaded on a chart, it will create grid lines for current price and the recovery grid based on user defined settings. You can control

Lot size
Number of levels
Martingale recovery multiplier
Hard Take Profit
Trailing Stop Starting Point
Trailing Stop Distance
Hard Stop Loss

The current price and Grid lines follow price action tick for tick in real time. If the current Heiken Ashi is indicating a LONG position, the indicator will show a Green Line where trade will occur, and multiple grid levels based on user definable settings below the initial order. If the current Heiken Ashi is signaling a SHORT trade, the indicator will show a RED Line where trade will occur, and multiple grid levels based on user definable settings above the initial order. These are waiting for a recovery reversal of price action.

When the START button is clicked, orders will be placed and the grid lines will be removed. An initial market order for current price with pending orders based on the grid lines.

Once profit has been reached, all orders will be closed on chart, locking in profit and the EA will wait for next candle and place a new set of orders automatically in same direction. This sequence will continue until any of he pending orders are activated and close in profit, Stop loss is hit, or User clicks the STOP button. If STOP button is clicked, all active and pending orders are closed and EA stops trading until START is clicked again.

It creates a situation for the user where the grid lines and stop loss can be fully adjustable and be represented on a chart for a visual reference of what the EA will do, before actually starting trading. Few indicators are needed as EA uses only MT4 built in indicators.

Here is an example of the placing a trade with pending orders. The initial order closed in profit and the next candle the EA opened a new sequence automatically.

demo for tests available?

Added video of a typical trade sequence after START button is clicked. Trading continues until the Martingale gets used and trade recovers. Automated trading stops at that point to allow the user to examine chart and decide whether to wait for better pattern

Report on recorded trade sequence.