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10 pips all the way up or down
7 posts
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10 pips all the way up or down
by kuhof » Sat Apr 17, 2010 9:56 pm
This past week I have been looking at this in past charts. eur/usd at the start of new day round up and down to nearest multiple of 10 then add or subtract 10 for entry. so if day closed at 1.3545 buy at 1.3560 and sell at 13530 set SL at 10 and TP at 10. and set 10 more orders in each direction every 10 pips. The idea is you have 100 pips covered in both directions when ranging you may win or lose, but when the market takes its daily 40 pip run (sometimes smaller sometimes much bigger) you cash in. Any thoughts on this?
- kuhof
- Posts: 3
- Joined: Sat Apr 17, 2010 9:32 pm
Re: 10 pips all the way up or down
by cpr » Mon Apr 19, 2010 3:38 pm
It is really interesting.. Does not need to look at the trend or indicators. and also I guess - it does not need to be initiated from the start of the day. Any time can be choosen.
Lets say -
Current price is 1.3500
Is is what you are thinking about ? Above price does not incluse spread cost..
It is interesting but need to further evaluate risk..
Lets say -
Current price is 1.3500
Current price 1.3500
-------------- Buy------- TP----------- SL
1st Buy 1.3515---- 1.3525---- 1.3500
2nd Buy 1.3535---- 1.3545---- 1.3520
3rd Buy 1.3555---- 1.3565---- 1.3540
4th Buy 1.3575--- 1.3585---- 1.3560
5th Buy 1.3595---- 1.3605---- 1.3580
6th Buy 1.3615---- 1.3625---- 1.3600
7th Buy 1.3635---- 1.3645-----1.3620
8th Buy 1.3655---- 1.3665---- 1.3640
9th Buy 1.3675---- 1.3685---- 1.3660
10th Buy 1.3695---- 1.3705-----1.3680
-------------Sell-------- TP----------SL
1st Sell 1.3485---- 1.3475-----1.3500
2nd sell 1.3465---- 1.3455-----1.3480
3rd Sell 1.3445---- 1.3435-----1.3460
4th Sell 1.3425---- 1.3415---- 1.3440
5th Sell 1.3405---- 1.3395---- 1.3420
6th Sell 1.3385---- 1.3375---- 1.3400
7th Sell 1.3365---- 1.3355---- 1.3380
8th Sell 1.3345---- 1.3335---- 1.3360
9th Sell 1.3325---- 1.3315---- 1.3340
10th Sell 1.3305-----1.3295---- 1.3320
Is is what you are thinking about ? Above price does not incluse spread cost..
It is interesting but need to further evaluate risk..
- cpr
- Posts: 77
- Joined: Fri Jul 10, 2009 11:58 pm
Re: 10 pips all the way up or down
by cpr » Mon Apr 19, 2010 3:42 pm
cpr wrote:It is really interesting.. Does not need to look at the trend or indicators. and also I guess - it does not need to be initiated from the start of the day. Any time can be choosen.
Lets say -
Current price is 1.3500Current price 1.3500
-------------- Buy------- TP----------- SL
1st Buy 1.3515---- 1.3525---- 1.3500
2nd Buy 1.3535---- 1.3545---- 1.3520
3rd Buy 1.3555---- 1.3565---- 1.3540
4th Buy 1.3575--- 1.3585---- 1.3560
5th Buy 1.3595---- 1.3605---- 1.3580
6th Buy 1.3615---- 1.3625---- 1.3600
7th Buy 1.3635---- 1.3645-----1.3620
8th Buy 1.3655---- 1.3665---- 1.3640
9th Buy 1.3675---- 1.3685---- 1.3660
10th Buy 1.3695---- 1.3705-----1.3680
-------------Sell-------- TP----------SL
1st Sell 1.3485---- 1.3475-----1.3500
2nd sell 1.3465---- 1.3455-----1.3480
3rd Sell 1.3445---- 1.3435-----1.3460
4th Sell 1.3425---- 1.3415---- 1.3440
5th Sell 1.3405---- 1.3395---- 1.3420
6th Sell 1.3385---- 1.3375---- 1.3400
7th Sell 1.3365---- 1.3355---- 1.3380
8th Sell 1.3345---- 1.3335---- 1.3360
9th Sell 1.3325---- 1.3315---- 1.3340
10th Sell 1.3305-----1.3295---- 1.3320
Is is what you are thinking about ? Above price does not incluse spread cost..
It is interesting but need to further evaluate risk..
Probably not, this is not what you are thinking.. Based on the above structure, if the pair is trending heavily, one side of orders may never get executed.
I guess your ideas is to hit some buy and sell orders, right ?
- cpr
- Posts: 77
- Joined: Fri Jul 10, 2009 11:58 pm
Re: 10 pips all the way up or down
by kuhof » Mon Apr 19, 2010 6:46 pm
Well I was thinking more like if starting point was 1.3500 ( I will just use the buy as ex. but sell would be same in other direction)
Buy- 1.3010 TP- 1.3020 SL- 1.3000
1.3020 1.3030 1.3010
1.3030 1.3040 1.3020
You get the point... But after thinking on it some more a greater stoploss might be in order and trailing stop is always a good idea also. and leaving a gap between orders might also be good due to spread.
It will need some playing with to see what fits best.
If you hit all buys due to trend great, or if both buy and sells fine. The idea is to cover both directions cause you never really know what is going to happen.
Buy- 1.3010 TP- 1.3020 SL- 1.3000
1.3020 1.3030 1.3010
1.3030 1.3040 1.3020
You get the point... But after thinking on it some more a greater stoploss might be in order and trailing stop is always a good idea also. and leaving a gap between orders might also be good due to spread.
It will need some playing with to see what fits best.
If you hit all buys due to trend great, or if both buy and sells fine. The idea is to cover both directions cause you never really know what is going to happen.
- kuhof
- Posts: 3
- Joined: Sat Apr 17, 2010 9:32 pm
Re: 10 pips all the way up or down
by cpr » Mon Apr 19, 2010 7:34 pm
It does not make much sense simply keep buying .. Not only loose the spread but price may not keep moving up..
- cpr
- Posts: 77
- Joined: Fri Jul 10, 2009 11:58 pm
Re: 10 pips all the way up or down
by kuhof » Mon Apr 19, 2010 8:46 pm
I see your point. My thought was to eliminate huge losses and still cashing in on huge gains.
- kuhof
- Posts: 3
- Joined: Sat Apr 17, 2010 9:32 pm
Re: 10 pips all the way up or down
by cpr » Tue Apr 20, 2010 4:13 pm
oK. Post your thoughts, if have any new.. we can work on them
- cpr
- Posts: 77
- Joined: Fri Jul 10, 2009 11:58 pm
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