Buying grid-like on the way down and unload on the way up...
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Dear all
I am all new to fxDreema and would appreciate some input from more experienced members.I would like to eventually setup an EA that executes a buy transaction at the current level and sells this position if the price has risen by +XY points or opens another buy position if the market has fallen by -YZ points and immediately installs a sell order (take profit) on this position at +YZ points. Executed orders (Positions) are kept overnight until the respective buys can be sold of later.
If the price then falls another -YZ points before the latest (above) buy position has been sold off by taking profit then the next buy position is entered into.... and so on...
So eg.:
Initial buy transaction at 12'500;
if the price rises to 12'600 a sell limit order is generated and the position is closed. If the price falls to 12'400 (before it rises to 12'600 and the position is closed out) then another buy oder is executed at 12'400 with immediate sell limit take profit at 12'500.
If from 12'400 the market rises back up again to 12'500 then the latest buy position is sold off (taking profit),
if from 12'400 the market falls further, then the next buy level is 12'300 and so on.Each new buying position immediately shall receive a take profit sell order at eg. +100 points above the buying level.
So if the market is trending down executed buy orders are accumulated and if the market is moving upwards again after moving down the accumulated buy orders are being sold off.
Each buy order is only sold off at +100 points above the buying level.In a range of -/+ 300 points there would be the initial buy order, then subsequent 3 times buy orders each -100 points lower which are "unloaded" again on the way up. The sequence could be for example: Initial buy at 12'500, buy at 12400pts, another buy at 12300pts, another buy at 12200pts, sale of the latest buy at 12300, another buy again down at 12200pts, sale of the latest buy at 12300, sale of the earlier buy at 12400, sale of the earlier buy at 12500, sale of the initial buy at 12600.
If possible I'd like to be able to turn off the Buying-Mode i.e. stop accumulating but still keep the Selling-off Mode (for already accumulated positions) going - i.e. to stop the grid-like buying if I feel the market is moving down fast over several hundred points or limiting the buyings to 10 transactions (i.e. from 12'500 down to 11'600 and then stop the buyings until at least the latest buy has been sold off again at 11'700)
or by what/when the initial transaction is to be triggered automatically (ie. by indicator signals). For now it is ok to trigger the initial Buy transaction manually and then have the subsequent buys on down moves and sell transactions on up moves automated.I have no clue how to structure such a problem and what else ought to be included in order to avoid desaster (Necessary checks - i.e. Trading hours, Instruments, Position Size restrictions,... etc.??).
Thnks in advance and any helpful input is appreciated!
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@bengelinski An ambitious EA!
Do you have an initial fxDreema project to begin with? -
@l-andorrà
Hi l'andorra
Nope - I am all new and have no clue where and how to start something like this. -
@bengelinski Ok. Then I hope you will understand that you should dedicate some time to study how the platform (tabs, blocks, connections, etc) work before doing anything. I strongly recommend you to all instructions pages and begin with just an initial project. Then you can come back here and I will be glad to help you.
