Hello people I was wondering if I could get your opinion on a system Idea I have.
Time frame: 1m/5m
Rules:
Open a long trade after the first completed heikin Ashi bar of the opposite colour (e.g. For uptrend, when first green/blue HA candle appears)
Sell trade: open after the first completed heikin Ashi bar of the opposite colour (e.g. For downtrend when first red HA candle appears)
With a Stop loss of 10 and TP of 10.
The main part of this strategy is to use limited martingdale, by doubling lot size up to maximum of 4 times (so from O.O1 to O.O2 etc)
For this system to be profitable the winning trades have to be > 50%, and I believe that should be the case, since that what HA candles do! They Find trends, and you would aim to enter in at the start of the trend, and grab a quick 10 pips.
My overall strategy is to get 10 pips/day, so this would limit the use of the martingale since the chances a huge losing streak would be lessened if you stop trading after 1 winner.
Feedback would be appreciated