I am currently working on a ea that is a scalping strategy . It is performing decently well on EUR/USD and I am realizing it is because the spread is relatively low ( or the lowest at any given time ). The strategy will work super well on any other instrument as long as I set the spread really low, but the average spread it than performs horrible. So , I tried adding the spread to the stops, but no good. What could I be missing? Or am I at a impasse?
I did add the spread to the stops, and just now tried adding a bit more just in case. I have messed around with it quite a bit to see if I could figure out why the spread is affecting it so much. So far, it will only work in one instrument, the EUR/USD , while the others will only work if the spread is a below average, which is actually the norm for the EUR/USD.
Maybe this strategy is only valid in one instrument? that can't be right, right?
You might want to look at USDJPY. The average spread from IC Markets on my live ECN account is 0.5 pips, but they take 0.07$ / micro lot. I still prefer paying commission since it gives me the option to include / exclude it from my profit targets.