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Manual Trade Lanes w/ Martingale Grid Recovery (Genom ForexScotty )

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Manual Trade Lanes w/ Martingale Grid Recovery Diskussion

ForexScotty
Jan 08 2016 at 20:00
57 inlägg
Manual trading strategy using Dynamic Fibonacci Grid. Sometimes called Trade Lanes or Tiger lanes. https://www.forexfactory.com/showthread.php?t=558372

Trade entries made during times of strong price movement following trend lines. I do not own, recommend or can take any credit whatsoever for the creation of the indicators and EA shown. The indicators are available on Forex Factory. The EA, I purchased from MQL5.com through the MT4 marketplace. I just put them all together on a chart to find something I could trade easily and with confidence.

Feel free to educate yourselves on their use from the blogs below.

indicators used
SuperJoltMoneyLanes - https://www.forexfactory.com/showthread.php?t=558372
SHI_Channel_True - https://www.forexfactory.com/misc.php?do=showattachments&t=190646&hideimg=1&page=3
Hitman MTF RSI - https://www.forexfactory.com/showthread.php?t=504229

Manual entry made using Manual Trader EA - https://www.mql5.com/en/market/product/4630

The Manual Trader EA has a Martingale recovery feature this does get used on occasion when I make a bad entry choice (or a good one and the market changes its mind). But for the most part the Money lanes are accurate 80% of the time. I have just found a mixture of EA and Indicators that work well for me.

The previous historical data found on this account shows my trial and error process. I have had bad experiences with purchased fully automatic EA's. This current run starts on December 23rd after I added the SHI_Channel_True indicator. The results have improved greatly.

Of course, any strategy that uses a martingale is EXTREMELY risky. But, if the proper entry is placed each and every time, then that likelihood is decreased. To further compensate for that possibility of a blown account, I will be building a Forex specific savings account that will be used to re-fund the forex account in the event it were to fail. Hopefully it will not be needed.

At the moment, I feel comfortable enough to post my results. I think as I get more comfortable and increase my accuracy and confidence, I will drop the Martingale recovery portion and just use a straight SL.

But I like what I see so far.




ForexScotty
Jan 08 2016 at 20:49
57 inlägg
Basic Strategy is simple. Of course, it took a long time to feel comfortable with the rhythm of the market as it moves.

If the RSI (Hitman) indicator is the same color (Blue for BUY, Red for SELL), I look at the Money Lanes. If the lanes show clear in the direction of the direction I wish to go, I then look at the Channel indicator as a confirmation of direction as well as ensuring the price is not near a reversal point.

If all agree, I place the order with a trailing stop that begins at 8 pips with a 4 pip trail. I have a 30 pip take profit for communication loss but it rarely hits unless there is a spike in the price.

There is not a stop loss as the martingale covers that in a grid methodology.

I allow the entire account be used like a global stop loss. In the off chance the account were to blow, I would re-evaluate the system, make adjustment necessary, and re-fund the account from the Forex Savings account that I built from the profits of this system and start over.
ForexScotty
Jan 15 2016 at 02:19
57 inlägg
New account started so we can have a clean history and offer signals with accurate data.

https://www.myfxbook.com/members/ForexScotty/manual-trade-lanes-w-martingale/1481596
ForexScotty
Jan 17 2016 at 15:01
57 inlägg
This weekend, I received an email from myfxbook support.

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Hello ForexScotty!

There is a new user waiting to copy your Manual Trade Lanes w/ Martingale Grid Recovery system with signal start (in total 1 users).
Open an account with Signal Start today, set a subscription fee and start generating an extra income: www.signalstart.com

Once you open an account with Signal Start, your potential clients will be instantly notified by email.

Best Regards,
The Myfxbook Team.
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I am assuming that since I use a martingale type grid and cannot use the myfxbook signal service, they are the ones inviting me. So, my signals are available there as well as through the MQL5 signal market.

https://www.signalstart.com/analysis/forexscottys-signals/3051
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