Topic: Example for EURUSD 1Day market - 6000pips profit
See this example:
In the beginning of the day set Stop/Limit entry orders on +/-100 pips from the opening price.
For each order set stop/limit exit order +/-20pips.
What this means:
If the price can rises/falls 100pips we hope it will continue 20 pips more.
How to test:
Set in the Forex Strategy Builder
like in the image:
What is this:
Steady Bands is an indicator that places two bands around a moving average. If we set it with period of 1 and base price - opening of the bar, we have exactly the bar opening. The margin of 100 pips sets the bounds 100 pip far alway of the central MA (in this case price Open).
Closing point is either on +20pips take profit Limit or at -20pips stop loss.
This is a very simple logic, but looks it works good.
Forex Strategy Builder V 126.96.36.199
Strategy name: Stop Limit
Exported on: 4/9/2007 7:17:25 PM
Market: EURUSD 1 Day
Spread: 4 pips
Swap Number: 1 pip
Balance: 6253 pips
Minimum account: -282 pips
Maximum drawdown: 282 pips
Time in position: 33 %
The same direction signal - does Nothing
The opposite direction signal - does Nothing
[Opening point of the position]
Open long at the Up Band
Smoothing method - Simple
Base price - Open
MA period - 1
Margin - 100
Use previous bar value - No
[Closing point of the position]
Stop - -20
Limit - 20