I want to use the 3-step Paroli theory in a "Semi-Automatic EA". Perhaps there is already an EA out there that uses this? The theory is this below: The Theory Website But you might not know that parlay represents a modified spelling of the French name for such bets: paroli. 1) Enter a trade when you believe in a trend direction Long or Short (use MA's or some other clever trend detectors or other EA's, but these are not in the EA these are used by you manually when to enter. This is not a set & forget EA). The EA has been turned on with its smiley face in the corner waiting for you to place that trade and then it takes over. Use 1:1 Win Loss Ratio for the SL & TP based on ATR or ADR (ADR is better). 2) If you lose then try again at the beginning lotsize & direction (0.01). If you win place another trade immediately at the TP point with double the (0.02) & same direction with the same SL & TP Pipettes used originally. 3) If you lose then try again at the beginning lotsize & direction (0.01). If you win place another trade immediately at the TP point with double the (0.04) and same direction with the same SL & TP Pipettes used originally. If you win you are finished and return to 0.01 with the same direction from the TP point and with the same SL and TP as used in the original. 4) If you lose then try again at the same lotsize & direction (0.01). 5) Are you getting it yet? just follow the above 4 steps and if you get three wins in a row start from 0.01. Your EA will take your profit from the inputs and then be on stand-by. Won't that be a nice thing to wake up to? The attachment below shows a scenario. This is a less aggressive approach to "Reverse Martingale". The key here is when to enter and when to stop. You can be chopped to death and be stuck in this sequence for an extended time. Get the direction right and you should be golden using this theory in Forex Trading, unlike a roulette wheel. ES P. S. Please ask questions and would some kind coder please post an EA for all of us to forward test. The EA can stop and go back on standby (waiting for your trade) when you reach the desired profit in dollars, percent of equity... or pips. Naturally it should run with an ECN or not (choose in the inputs). Please try and put all the latest code in to make it work for all of the dealers, decimal schemes, lotsizes, suffixes, spread & slippage inputs. Email alerts and notification choices with audible using our own sound file choices would be nice. Oh!... and this cannot be one of those EA's that if you are in the middle of a trade and close your platform and reopen it it will place trades, it should pick up where it left off and nothing more. P.P.S. Also as an option if you know how...give us a button on the chart to "Close All" and turn off the EA in the symbol with this magic number and put it on standby....and another button on the chart for the basket traders to "Close All" on all trades and turn off all of the Paroli EA's on all symbols with this magic # and put it on standby. These two buttons should use the minimum amount of screen real estate. Dazzle us with your coding skills...it will all come back to you with people asking you for coding. P.P.P.S. Can we have a MT4 code and a MT5 code? Disclaimer: Make Money. If you do not, don't blame me.
I can see there are readers lurking in this thread. Please excuse my late edits. I have a terrible habit with this. I treat these threads as Archives not chats...I want everything right. I am getting some private messages from other traders that know me. Please limit your messages to this thread if you would be so kind. I want everything to be transparent and shared. If this EA works I want it to be open source for the community. However if I must pay a coder to get this done....well it is mine then right? (I have been a member here for over 17 years, don't you think that I could find a friend to code this for me?) Please coders be generous with your time and benevolence. Sure you can make an EA and never share...but you know where you got this idea from...Folks lets hope for the best. Heck...this idea to trade this theory in Forex could be a total loss...but in theory it shines. Just get your Entry direction, SL & TP right... This is not a simple thing to code...but not the hardest. You could even call this the 3-step Paroli exit method and use this chunk of code in other EA's. I could see it now in the inputs...lol...use 3-step Paroli: True or False? ES
Maybe something suitable is already available? https://www.google.com/search?q="free"+"reverse+martingale"+EA&oq="free"+"reverse+martingale"+EA
Wow...Really? Thanks..I have been looking for you all over the internet! I cannot update all the places I have been... so please click on the red post below to see the latest info. See this post for the latest info Post I never dreamed that this community could be the community that gets this EA. El Trado if there is anything that you need let me know. Thank You in Advance for trying. ES
However, it will be a "quick-and-dirty" version that works with the Oanda api. I have no idea about Metatrader and have no intentions of learning it. I am sure you can easily modify the code to work for other brokers, but that's not something I plan on doing.
No problem. I will share the code as well. If you want to run it, it is not harder than installing Python (already installed on Linux and Mac), get an Oanda-key (no need to transfer money for a simulator-account) and run it.