As you may know the Grid Trend Multiplier is a unique trading technique. It makes money when the price revisits certain price levels over and over again. Trading without Forex Stop or Forex Target levels
As shown on our website this multiplier effect allows you to make money even when
- The price does not go anywhere in particular or
- Even goes in the opposite direction you thought the market would move or
- Goes in the direction intended.
Given the GTM’s ability to make profits in any direction how do you set stop or target levels? Some traders are baffled by this. This is where the Forex trading paradigm shift is required. You don’t use stop or target price levels.
You merely stop trading when you have reached your goal profitability levels. So instead of having a target price level you would have a target profit level. You would close all transactions when your account goes up by say $500 or goes up by say 5%. These levels can be reached without the price ever reaching what previously was known as a Target.
In the same way you would merely close all transactions when your account goes down by $300 or goes down by say 3%. These levels can be reached without the price every reaching what previously was known as a Stop due to the multiplier effect.
Come to think of it all Forex Traders using any Forex Trading technique should be using this approach.
This facility will be built into our GTM EA in the next few weeks so watch your emails.
Together with the ability to control risk when the price moves in the wrong direction this EA is becoming a really powerful trading tool no Forex Trader should be without.
sounds great,I can’t wait to learn more about this technique
cant wait.Sounds good
Well done with this trading tool. I am very much looking forward to the “Close at X account value” update, as that is a very important missing link. (That and being able to set the EA as active on a particular chart with a “Start selling (or Buying) at X price” function as at the moment that is also a very significant missing function.
The further extension of that is an OCO function if you set it up to bracket the current price on aparticular chart.
Well done so far, a very useful tool that can be even more powerful.
Kindest Regards
Dale
Sounds very interesting, can’t wait to see your solusion, and hope that is compatable with MT4 platforms. Count me in. Thanks.
Looking forward to seeing how it goes as an EA
Mary, when we can upload the improved GTT?
Or GTM will be completely new EA?
Tx Mike
I agree, I think a profit target is a good idea as I can relate to £/$/Euro and so on much more easily than pips. A % is also a good idea. That said, it would be nice to have access to a ‘Profit meter’ that would always display profits (and losses) and % in REAL TIME. This indicator should also be able to show the amount of pips that would trigger a margin call, together with the amount of micro/mini lots available at the current profit level.
best regards
MK
After using this GTT EA for a long time, I still believe that choosing the right direction (buy or sell) is very important. When you choose a direction where the trade goes against you the lost is exponential. If you let the MACD to choose the direction of trade, the problem is it will automatically close all the negative or losing trade when the MACD changes direction wiping out most of your previous gains. The developer should look more into and improve it.