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Posts: 2

Topic: Please check this strategy

This is my 1st strategy, pl criticize it. My question is what the "send order" is in the strategy overview.And is it a good strategy?
Environment
Market
Symbol - EURUSD
Time frame - 1 Minute

Account
Initial account - 1000.00 USD
Logic
Opening (Entry Signal)
Open a new long position at the Upper Band of Steady Bands* (Simple, Close, 180, 15) when all the following logic conditions are satisfied:

Moving Averages Crossover* (Close, Simple, Simple, 41, 180, 0, 0); the Fast MA crosses the Slow MA upward; and
the RSI* (Smoothed, Close, 14) is higher than the Level 65.
Open a new short position at the Lower Band of Steady Bands* (Simple, Close, 180, 15) when all the following logic conditions are satisfied:

Moving Averages Crossover* (Close, Simple, Simple, 41, 180, 0, 0); the Fast MA crosses the Slow MA downward; and
the RSI* (Smoothed, Close, 14) is lower than the Level 35.
Closing (Exit Signal)
Close an existing long position at the Upper Band of Steady Bands* (Simple, Close, 180, 50).

Close an existing short position at the Lower Band of Steady Bands* (Simple, Close, 180, 50).

Handling of Additional Entry Signals**
Entry signal in the direction of the present position:

No averaging is allowed. Cancel any additional orders which are in the same direction.
Entry signal in the opposite direction:

No modification of the present position is allowed. Cancel any additional orders which are in the opposite direction.
Trading Size
Always trade a constant number of lots.

Opening of a new position - 1 lot.
Permanent Protection
The strategy does not provide a permanent loss limitation.


Lot size - 10000
Leverage - 1/100
Required margin - 100.00 USD* for each open lot

Charges
Spread - 4 pips (4.00 USD*)
Swap number for a long position rollover - 1 pips (1.00 USD*)
Swap number for a short position rollover - -1 pips (1.00 USD*)
Commission per lot at opening and closing - 0 pips (0.00 USD*)
Slippage - 0 pips (0.00 USD*)

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Re: Please check this strategy

My concern is the time frame, one minute is awfully fast and you will be paying a lot of spread costs.

I think you perhaps could use something to determine trend as a filter.

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