Who can teach me MANUAL GRID TRADING?

Roels Major · February 11, 2011

Thanks for the EA freddy,

I tried searching hard for BIRD WATCHING IN LION COUNTRY
FOREX TRADING EXPLAINED 2010 EDITION (Revised, Updated & Expanded). but couldn't find it on the web, Not even in this forum. yes I do have the Old edition of this book. But never understood it.

Interested in this 2010 editions

Here you go : http://indo-investasi.com/showthread.php/4994-Bird-Watching-in-Lion-Country-2010?highlight=BIRD+WATCHING+LION+COUNTRY

Freddie · February 11, 2011

I think what Copycat is trying to say is: ... Copycat, is it what you were thinking of?

If you want to put in the spread then select level plus 5 (for instance) pips. What might be forgotton is that if we have just broken up through xxx25 our new pending orders are at xxx50 or at xxx00.

I get confused with the bid and ask prices to all I will say is that if you have two pending orders, one to buy and one to sell they will be triggered at different times depending whether price is going up or down.

At this stage I think that it is better to leave these marginal things alone and just concentrate on the main concept.

I am in process of working out last week with a 6:4 balance: Thirty one trade points so lots of figuring out to do. Must look back at Manu's instructions!!

Edited February 11, 2011 by Freddie

freddy · February 11, 2011

I have modified the script provided by Freddie to meet one concept from Manu:

4 BUYS and 6 SELLS, I called it SHORT_JM_4BUY&6SELL.mq4 because there are more sells.

I added SL (25pips) and TP (50pips). The lot size 0.1.

It works OK, I just tested, but what I don't understand (I am not a coder, remember!) is although the parameters Lots, SL and TP are made "extern", they are not visible before the launch.

So, if you need other values, for the moment you need to edit the file before draging it on the chart.

Perhaps someone with mql4 competence can explain what to do for these extern parameters appear directly before launch and then be modified.

Also, if Manu, you think it is OK for your strategy, it is easy to make the same script with 4Sells and 6Buys.

Ok, guys, test and modify and tell me what you think.

Just copy/paste the code below in notepad and then change .txt to .mq4 et voilà!

Don't forget to put the mq4 in the script folder and to allow external experts imports in the Expert Advisors tab in your MT4 platform.

EDIT: This script works with 4decimals brokers (Tadawulfx demo), but apparently not with 5! ?

//+------------------------------------------------------------------+
//|                                          SHORT_JM_4BUY&6SELL.mq4 |
//|                      Copyright © 2011, MetaQuotes Software Corp. |
//|                                        http://www.metaquotes.net 
//   modified by freddy for Freddie and Manu in the thread:
//   http://indo-investasi.com/showthread.php/11615-Who-can-teach-me-MANUAL-GRID-TRADING
//+------------------------------------------------------------------+
#property copyright "Copyright © 2008, PRMQuotes Software Corp."

#include <stdlib.mqh>
#include <WinUser32.mqh>

//+----------------------------------------------------------------------+
//| To modify Lotsize of script change value listed here, right now      |
//| its set to 1.0 change that value if you desire different lotsize     |
//| I have found that it is important to keep the decimal in place,      |
//| but really dont know why yet, but fractional lots work too (ex...    |
//| 0.1, 0.3, 1.12), you get the picture.                                |
//| AGAIN DONT FORGET TO SAVE AND COMPILE AFTER MAKING ANY MODIFICATIONS |
//+----------------------------------------------------------------------+
extern double LotsB = 0.1;
extern double SLB= 0.0025;//Stop Loss for Buy orders
extern double TPB= 0.0050;//Take profit for Buy orders
extern double LotsS = 0.1;
extern double SLS= 0.0025;//Stop Loss for Sell orders
extern double TPS= 0.0050;//Take profit for Sell orders

//+---Don't forget to save and compile after changing the Lotsize--------+

//+------------------------------------------------------------------+
//|  Each of the following lines produces an individual order        |
//|  3 lines produces 3 orders, to increase or decrease the number   |
//|  of individual orders either add, or take away identical lines   |
//|  within the parenthesis. Again dont forget to save and compile   |
//|  time you modify the code.                                       |
//+------------------------------------------------------------------+
int start()
 {
OrderSend(Symbol(),OP_BUY,LotsB,Ask,3,Ask-SLB,Ask+TPB,"JMBUYER",0,0,CLR_NONE);
OrderSend(Symbol(),OP_BUY,LotsB,Ask,3,Ask-SLB,Ask+TPB,"JMBUYER",0,0,CLR_NONE);
OrderSend(Symbol(),OP_BUY,LotsB,Ask,3,Ask-SLB,Ask+TPB,"JMBUYER",0,0,CLR_NONE);
OrderSend(Symbol(),OP_BUY,LotsB,Ask,3,Ask-SLB,Ask+TPB,"JMBUYER",0,0,CLR_NONE);
OrderSend(Symbol(),OP_SELL,LotsS,Bid,3,Bid+SLS,Bid-TPS,"JMSELLER",0,0,CLR_NONE);
OrderSend(Symbol(),OP_SELL,LotsS,Bid,3,Bid+SLS,Bid-TPS,"JMSELLER",0,0,CLR_NONE);  
OrderSend(Symbol(),OP_SELL,LotsS,Bid,3,Bid+SLS,Bid-TPS,"JMSELLER",0,0,CLR_NONE);
OrderSend(Symbol(),OP_SELL,LotsS,Bid,3,Bid+SLS,Bid-TPS,"JMSELLER",0,0,CLR_NONE);
OrderSend(Symbol(),OP_SELL,LotsS,Bid,3,Bid+SLS,Bid-TPS,"JMSELLER",0,0,CLR_NONE);  
OrderSend(Symbol(),OP_SELL,LotsS,Bid,3,Bid+SLS,Bid-TPS,"JMSELLER",0,0,CLR_NONE);
}
//+------------------------------------------------------------------+

Edited February 11, 2011 by freddy

freddy · February 11, 2011

Great news, I found this script which is coded smarter, you can choose number of orders, you can choose market order or stop or limit orders etc.

But same problem it works on 4 digits, but not wiht 5 ???

This one is the BUY script:

If a coder could make it work for 5 digits, then we can mix the BUY script and the SELL script not posted yet.

Thanks

//+------------------------------------------------------------------+
//|                                              Buy  with SL and TP |
//|                               Copyright © 2008, smjones          |
//|                                               sjcoinc            |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2008, smjones"
#property link      "[email protected]"


#property show_inputs

extern int    NumberOfOrders = 1;
extern bool   UseActualSlTp = true;
extern double StopLossPrice = 0.0000;
extern double TakeProfitPrice = 0.0000;
extern string Note="0 in Entry field means Market Order Buy";
extern double Entry = 0.0000;
extern bool   MicroOrdersAllowed = true;
extern bool   MiniOrdersAllowed = true;

extern bool   UseMoneyMgmt = true;
extern double RiskPercent = 1;
extern double Lots = 1;
extern double StopLoss = 0;
extern double TakeProfit = 0;

extern string Comments = "Buy Script";



//+------------------------------------------------------------------+
//| script program start function                                    |
//+------------------------------------------------------------------+
int start()
 { 
 double Risk = RiskPercent / 100;
 int OrdersizeAllowed = 0;
 int Mode = OP_BUYSTOP;
 if (Ask > Entry && Entry > 0) Mode = OP_BUYLIMIT; 
 if (Entry == 0)  {Entry = Ask; Mode = OP_BUY;}
 double SLB = Entry - StopLoss*Point, TPB = Entry + TakeProfit*Point;

 if (UseActualSlTp)
     {
        StopLoss = (Entry-StopLossPrice)/Point;
        SLB = StopLossPrice;
        TPB = TakeProfitPrice;    
     }
 if (MiniOrdersAllowed) OrdersizeAllowed=1;
 if (MicroOrdersAllowed) OrdersizeAllowed=2;        
 if (UseMoneyMgmt)  
     Lots = NormalizeDouble( AccountBalance()*Risk/StopLoss/(MarketInfo(Symbol(), MODE_TICKVALUE)),OrdersizeAllowed);       

 if ((Lots < 0.01&&MicroOrdersAllowed) || (Lots < 0.1&&MiniOrdersAllowed&&MicroOrdersAllowed==false))
     {
        Comment("YOUR LOTS SIZE IS TOO SMALL TO PLACE!");
     } 

 if(Lots > 0)
 for (int i=0;i<NumberOfOrders;i++)
     {
        OrderSend(Symbol(),Mode, Lots, Entry, 2,SLB , TPB, Comments, 0, NULL, LimeGreen);
     }

          
  return(0);
 }
//+------------------------------------------------------------------+

manu1713006157 · February 11, 2011

Thanks freddy... thats seems to be a good work. I will test It.. However I knew nothing about programming..so have no Idea how will I tweak its parameter or its code. Just 1 week back I didn't even knew how to use EA's or script... because I have never done it. But I will check this.

meanwhile I understand that working with 6-4 formats or even with 2-2 formats..what i explained earlier. would all not be easy to grasp. especially someone starting this fresh.

I have made these variations for 1 purpose. To manage the risk. and to take the fullest advantage of fav conditions. 6-4 format.. is designed to capture profit (book profit, not floating) at evey level.... It feels so good when you book 300- pips on every 20 pips.beside managing the loss. ** But we have conditions --- market should move enough to start booking you profit. so you need a lot of patient.

then 2-2 format.. however this won't book you profit but it manages the Loss. It donot require substantial conditions... this was quite simple. You can make floating profits from this.. but not Booked profit.. this is its condition.

sigh-- Mr. Market has its terms...

There might be people who kept themselves away simply because this looks complicated(of coz at earlier stage it is..until you get familiar with whole thing)

As statring:

first lets define our purpose:

1. Not to Loose overall... (yes there are chances of small loss...but if one is really very unfortunate)

2. either come out at Big gains, or at Break-even-- or maybe at small gains.. But no Losses please.

3. If there are 5-ways to do a single thing, choose the one which is simplest.

4. lets forget about Booking profit right now ( thats for advance level). lets concentrate on number 1 and 2. for time-being.

Next I will write a format which uses [2s-1B].. (in downtrend). Its simple and it fullfills the required condition of no1,and no2. and also it has an extra advantage which the earlier formats 6-4, 2-2 didnot provided.

If you are using 20-20 spacing (1 level). this format will get you out at breakeven.Once the price retrace(moves opposite) for 60-pips (i.e. 3-level). It will even take care partially* of those losses which you have made.. if market retraced for 20 pips(1 level), or 40pip ( 2-level).

Remember once market is 60 pip (3 level) opposite. we are back to BE.

what the worrying part is in this 1level, and 2-level retrace.. and there is a mean to manage this using 2-1 format (although partially yet)

Ok so I think this has all the Intigrends... most Important.. It makes our Job easy.

ok I will post this format... later sometime.. mostly tommrw. as I need few more hours to think something..

hey freddy... since you have codes this EA..I think you can do something for this format 2-1 which I will post next. and it will be a lot easier and lot fun. thanks

take care Guys.

meanwhile I request people who are Interested in this..to read the earlier posts and think about the logic behinds those formats. 6-4, 2-2. see if you understand them. and share your experience with me. Good or Bad or mis-understood whatever.

Things may come to those who

wait, but only the things left by

those who hustle.

(Abraham Lincoln)

thanks to everyOne and take care.

manu1713006157 · February 11, 2011

hello Friends:

As I realised people need somthing easy.. so here it is one. (no need to count them who really don't have time, or who are too busy for this). I have never care even about Mr. Market. why I will care about them... well this is about attitude ..so lets not hustle it with our main purpose.

this format covers the same scope,its much simpler and its much more advance than any other available system. I will call it [2-1] format.

Lets assume the trend is down and we are setting up for sells.

now Lets assume we have started from 3500. and we will use [2s-1b]-format

at 3500

s1 : 1.3500 stop: 1.3520 tp: None

s2 : 1.3500 stop: 1.3520 tp: 1.3480

B : 1.3500 stop: 1.3480 tp: 1.3560

at 3480

s1 : 1.3480 stop: 1.3500 tp: None

s2 : 1.3480 stop: 1.3500 tp: 1.3460

B : 1.3480 stop: 1.3460 tp: 1.3560

at 3460

same format

at 3440

same format ownwards:

Ok. why we need 2s and 1b then..In case we are closing 1s-and 1b at same number of profits and losses. why we need this. why not simply place a 1sell after every 20 pips. Quite ok.. any sensible guy will ask this.

Now have a Look at this:

suppose we went last at 3440 and then price moves to 3460 (1-level up)

at 34-60

this is the status of 3440-positions

s1: 1.3440- stops: 1.3460 [closed] -20

s2: 1.3440- stops: 1.3460 [closed] -20

B- 1.3440 stops 1.3420 , tp: 1.3500 [Running]

status of 3460

s1: 1.3460- stops: 1.3460 [Running]

s2: 1.3460- stops: 1.3460 tp: 1.3440 [Already closed] +20

B- 1.3460 stops 1.3420 tp: 1.3520 [Already closed] -20

(s2 and B were closed when price reached 3440, )

now wait for a minute:

As soon as price went to 3440, (the moment s1,and B of 3460 were closed) we had put pending orders of 1B-1S (please note its 1b-1s now) once again to 1.3460.while 1 S was still Running from that level. and same number of peninds 1s-1b we add at 1.3480 too.

now see what happens: (assuming price moves up 1 level from 3440 to 3460)

B : 1.3440 stop: 1.3420 tp: 1.3500 [Running]

s1: 1.3440-- [closed]

s2: 1.3440- [closed]

B : 1.3460 stop: 20 pips ** tp: 1.3500 [ executed- the pending which we added]

s1 : 1.3460-- stops: 1.3480 [ executed-- the pending which we added]

s2: 1.3460-- stops : 1.3480 [ Running-- the earlier remains]

note: earlier 1b-1s from 3460 had been closed at 3440. making -20,+20.

we also have a pending order of 1s-1b at 1.3480. while 1s still running

status at 3480

B: 1.3480 - stops: 1.3460-- tp: 1.3500 (executed)

s1: 1.3480- stops: 1.3500 tp:40* (executed)

s2: 1.3480- stops: 1.3500 tp: none [Running-- the earlier remains]

Ok Guys... so the conditions was that the price went till 3440- and then went back up till 3500.

Look what we have here.

at 3500

s1: 1.3440 stop: 3460 [-20]

s2: 1.3440 stop: 3460 [-20]

B: 1.3440 tp: 3500 [+60]

s1: 1.3460 stop: 3480 [-20]

s2: 1.3460 stop: 3480 [-20]

B: 1.3460 tp: 3500 [+40]

s1: 1.3480 stop: 3500 [-20]

s2: 1.3480 stop: 3500 [-20]

B: 1.3480 tp : 3500 [+20]

Ok altogether count the losses and Gains what you have here. Its +120 and then -120. now you might get the Idea what I mean. and please do settle about the spreads. (close b-3440, b-3460 at 3498, and close the last b-3480 at 1.3506 somewhere)

[ we did lost few buys when the price was heading down... which we used 1s to sum up those loses already.. so we are not counting them.they gets neutrilized]

Ok. now everything gets so easy when we have a 3- level retrace (60 pips in this case). Sometimes we get 20 pips or 40 pips retrace.what to do them..should be take those Losses and move on. best and most easy answer would be Yes. But then we have few requorments what we settled for.. and it was try not to take losses. this doesn't mean we let the losers ride.. we don't want to do this.

But then after we added those pendings (1up and 2 up pendings as 1s-1b, close 1b at -20 and then close another sell at +40. This helps manage it partially.. 50%. In case If you allow running that sell +60.. this will manage it totally. fully. But don't get greedy... manage 50% of losses and then use PUS* for the rest.

this whole thing is quite easy... Its really very simple.. read and reread this again. If can't understand something..write it to me.

after you get familiar with this doing on 20-20 spacing. Try it on 10-10 space. It will simply rock there. If you chase just for 100 pips (of coz.. Eur/usd moves 100 pips everyday) It can make +550 pips overall using 10-10 spacing.

I have not implemented this method particulary... Its just for someone who is starting fresh.. I wnated to make his Job easy.

meanwhile If you could find out what extra risk...it offers.. let me know and we can do something about it. or let me know what you think about this. As Its not been tested yet. But Hopefully It should work fine.

The pessimist sees

difficulty in every

opportunity. The optimist

sees opportunity in

every difficulty.

(Winston Churchill)

ok take care Guys.

February 11, 2011

Thanks Manu for your big help. I found some great free grid eas. Especially GridEA.mq4 is interesting.

Please tell us which settings you would choose, so that we can see on demo the benefits.

wwX.multiuploXd.com/T2QPTK7FYS

Freddie · February 11, 2011

Manu, you are like a little fire-ball! I find a lesson, set to work on it and before I can finish that up pops another.

I looked at the past week using 6:4 according to which way the price was going ie if price was going down then 6 sells 4 buys. Close the trade after one grid movement. The result was 6850 closed and cashed, 5600 still open. This made a profit of 1250. I used 32 trading points.

A 'trading point' is my name for where price crosses the 25 pip line.

I will now do the week with your 2:1 set up although I cannot see reason for the 'no TP' but then all those figures confuse me and I need to make a chart of it.

Don't answer, I am sure that it will become clear in time - I trust you.

Edited February 11, 2011 by Freddie

copycat · February 12, 2011

Hi Manu,

Thanks for sharing your new 2s-1b strategy. After reading them few times, i think that I now understand how they works

both (2b/2s and 2s/1b).

Please note that I found there are few typo errors both in the 2b-2s and 2s-1b strategy which I hope you can correct them to avoid confusing

other readers.

In 2s-2b strategy

================

Quote:

at 3625 ---

Status:

Booked Loss -50 pips (from two Buys at 1.3650) [closed]

we also have profits form sells But Floating right now.

newOrders

b1- 1.3625 stop: 1.3650 tp: 1.3675 ==> stop should be 1.3600

b2- 1.3625 stop: 1.3650 tp: 1.3675 ==> stop should be 1.3600

s1- 1.3625 stop: 1.3650 tp: 1.3575

s2- 1.3625 stop: 1.3650 tp: none

End Quote

In 2s-1b strategy

===============

Quote:

at 3480

s1 : 1.3480 stop: 1.3500 tp: None

s2 : 1.3480 stop: 1.3500 tp: 1.3460

B : 1.3480 stop: 1.3460 tp: 1.3560 ==> tp should be 1.3540 (every 60 pips)

End Quote.

Also, it will help if you use lower case s1,s2, b1 and b2 to refer actual orders while using upper case B1 and S1 to refer actions of buying and selling order for consistency. For instance,

Quote:

As soon as price went to 3440, (the moment s1,and B of 3460 were closed) we had put pending orders of

1B-1S (please note its 1b-1s now) once again to 1.3460.while 1 S was still Running from that level.

and same number of peninds 1s-1b we add at 1.3480 too.

End quote

I think it should be easier for readers to understand that it was actually s2 and b1 were closed. s1's t/p was set to none and would remain running with floating profit.

Base on my current understanding, I think 2s/1b strategy requires a stable down trend environment. If market lose its stem and start to consolidate or trying to reverse, ie

fluctuate within 60 pips range then the system won't work. At 20 pips grid level, it requires 3 levels of retracement just to get b/e. 4 levels will make us some money. By narrowing the spacing to 10 pips will help, but the spread will sting. Say typical EUR/USD spread is 1.5 pips, each level of 2s/1b will cause us 4.5 pips. The cost adds up after few levels of orders. So I think finding a appropriate spacing is important during the range bound days.

On the other hand, I think the 2b/2s strategy works almost on all market conditions. It only requires 2 levels of movement of either direction to make money.

But one thing I don't understand is that the 2s has no t/p set but both 1b/2b's t/p are set to 50. The idea of not having fixed t/p for 2s is to let the profit run. It should work well in down trend. But in uptrend, shouldn't we reverse it. ie set 1s/2s with tp of 50 and 1b with 50 and 2b with none?

Finally, I would be much appreciate if you can share your 6b-4s strategy as well. Thanks...

Freddie · February 13, 2011

Had a busy day today. Had to go to lunch with a few people. Here that means nearly all day used up.

Any way, got too confused with the 2:1 with different TPs and SLs so had to leave that.

An interesting thing, if I use the 2:1 just making Buy 2 if the price is going up and Sell 2 if price is going down I still end up with 1200 pips at the end of the week. I would imagine that this would be good for margine?

I will try again with the 2:1 using the SLs and TPs in the morning.

manu1713006157 · February 13, 2011

Hello jen.

I will see what these EA's do. and will try Look for something meaningful when market opens next.

thanks

manu1713006157 · February 13, 2011

Hello copycat

thanks for reading this and thanks for your comment. I tried using that 2-1 format last friday. and I can feel Your concern. when the market starts ranging within those 60-pips. we get an constant array of Losses. 20 or 30 pips each time it fluctuates within a level. Quite depressing. Everytime market moves up and down for 20 pips ... we are losing few pips. what the Hell.

I have presented here few formats as 6-4, 2-2 and then 2-1. each offers its own advantages and own Limitations. this is why I had been sticking with 6-4 formats as its build up to book some profits at every Level. This sums up the Losses which we had while retrace 1-2 levels. It covers and manages them,while the main trade still runns.

working with 2-1 for example. It only makes losses in a single way.. when market ranges within those 60- pips. else there is no other way Left for us to Loose. I took every care to minimize the losses chance . I even managed almost every way. But this condition still remains. best and easy way for now would be to keep taking those losses, as the market will sooner or later will come out from those 60-pips range and everything settles then. If suppose we had booked two losses from the swing... we can close those Opposite orders at 4th Level .Insted of 3. this will give extra 40 pips. useful to compensate

I know what I'm talking.. In writing and In theory it sounds ok. But its not ok when we initiate an actual trade. I know this because I have been with this. this is why I had to devolop 6-4 format, which takes care of this inside fluctuation. But then we need market to move enough Just to start working with this and to start reaping its benifit.

You leave 1 thing and get caught in another. this is how market is build up. perhaps this is how "Zero sum game" is build up. afterall we have to pay somewhere what we Lost.

I presented few of my formats and few of my Ideas..which could work well if done carefully. It was designed with brilliance .. It covers most of the risk situations what market offers. But of cos not all. no matter how much time you give thinking or testing new Ideas.. 1 or more flaw still remains. This is day-trading.. I never heared anything complete risk free.. so why anyone should expect anything Like that.

2-2 format is slight better than this because it has to cover only 2-levels to get us out at BE.. It seems like we are out at Breakeven.. but then it cost additional 20 pips. do you math and find out where and how.

again we are different individuals , with these raw ideas putting back or forth or twisting... another system- structure could be made. Try thinking about It.

meanwhile inspite of the risk,I still belive that It should work well. and Just to put my point..I will try to post my trade once a week. Generally It takes me 1 whole week to start and finish. It it goes well I will post.. If it doesn't do well I will still post and I will also talk about it. (and if I donot post.. Guess what.. yes you are right..this means I've been screwed up) hahahah.

well Freddie. I'm not sure what and how exactly you are doing.. probably you are closing all of the position ( I prefered leaving 1- from every level to ride) But again.. we can still survive with little less profit. and its up to different individuals how they make use of these tools.

anyway congrat for your 1200 pips... Now try doing this 2-more week. You will know If you want to still do that after those 2-weeks.

"range among 60 pips" Just think... will this particular characterstic of market can make you money ? Probably Not. But can this single thing stop you from making tonns of money. "yes" its doing that.. man thats pitty.

meanwhile I will be thinking and testing what else could be done to minimie this... and I need some suggestions . because I have started liking this 2-1 format Thanks. however 1 thing is very similar to all these.. Losses are very small, they are never allowed to Runn. still do I need to stop. overall risk:reward is very Big. etc. these things provides a huge edge. and whats stopping us. damm a 2- or 3- level retrace. Of co I'm not going to stop just because of this

If Losses are unavoidable, we need to keep taking profit at every level. this is the only solution... (for those guys who donot want to lose a single penny). 6-4 format let us book profit at every level. so somehow I have to merge both and make a new. ok how will I do this.. some suggestion and ideas guys.

I will update this thread.... after I get some new solutions .... till then I will work with this 2-1 format and will see what else could be done.

But please write down any suggestions or any Idea which comes to you meanwhile.

manu1713006157 · February 13, 2011

Hello copycat and Others

thanks for reading this and thanks for your comment. yeah those were typo But the tp for stop is not 60 pips for all.... Its from last postion then +60, menawhile adding two buys with tp, 40, and 20. and then everything closed at 60-pip retrace.

I tried using that 2-1 format last friday. and I can feel Your concern. when the market starts ranging within those 60-pips. we get an constant array of Losses. 20 or 30 pips each time it fluctuates within a level. Quite depressing. Everytime market moves up and down for 20 pips ... we are losing few pips. what the Hell.