Scalping Money management strategy REQUEST

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Scalping Money management strategy REQUEST

Postby upliftingmania » Wed Dec 29, 2010 4:30 am

Hi everyone,

First of all - the guys who are running this site are doing some really phenomenal work, hats off to all of you!!!

I am relatively new to forex and I stumbled across this website after one of Fxcm's customer reps had directed me here to find the 'time till close of candle' indicator. Again - amazing work!!!!!
I am not sure whether I posted in the right section of the forum as I couldn't find a sub forum for 'strategy requests', so do bare with me if I did something wrong.

Right now I would like to know if someone can construct a 'custom strategy' for 'Scalping money management' that can function on the 'Tradestation 2 platform'. I had a look at few of the existing 'Breakeven strategies' in the forum, however none of them seemed to address the issue of trade size i.e the 'number of lots used'. Even if my ignorance has made me overlook an existing strategy that meets my requirements, please do provide me with the link. So here goes -

Basic features - Once a few lots are MANUALLY closed in profit, the remaining lots must automatically move their stops to break-even or better.

Lets say we open a 5 lot long position. As we 'MANUALLY' close 3 lots for a profit, the last 2 lot's stop loss AUTOMATICALLY( & AS SOON AS POSSIBLE) moves to Break - even.

So the key inputs would be -
1) Total Number of lots (As per above 5)
2) Threshold Number of lots ( As per above 3)
3) Break even lots (As per above 2)

Note -1) Once the strategy is activated, the 'manual close in profit' for the threshold lots is the trigger for the rest of the lots to move their stops to break-even. In all other cases there would be no change in stop loss levels.
2) The user is free to change the stop loss to better levels/close the trade etc once the stop has been moved to break - even.

Now extra or additional features could be -
1) Option for setting up of a 'Threshold lot Limit order' - eliminating the need for a manual trigger close.
2) Option for setting THE STOP LOSS level for the 'Break - even lots' to better than Break -even.
3)All orders that are yet to be opened can have options to enable default LIMIT and STOP parameters i.e. preset stop and limit orders well in advance - Good for range trading!
4) This one is a abstract, at least to me personally - if there is a good liquidity indicator; use it to display or signal liquidity levels via some sort of signal or just signal when there is really low liquidity.

I would really appreciate it if the coded strategy includes just the basic features c i.e. without any of the extra/additional features.

Looking forward to some positive replies...

Cheers

Upliftingmania
upliftingmania
 
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Joined: Wed Dec 29, 2010 3:20 am

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