ankof1 Rebate EA

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SteveHopwood
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ankof1 Rebate EA

Post by SteveHopwood »

Here is a pm I received from ankof1:
ankof1 wrote:Hi steve

I would ask to you of it is possible that you can code my strategy.
First of all English is my 4th language and I will do my best to explain to you my strategy.

It is a simple strategy.

The strategy exist of 2 parts: 1) Expert Advisor
2) Rebates
Part for the EA
The EA must open a long and a short position at the same time.
After X seconds the EA must close the both positions.

e.g. : EA opens a long and a short position at the same time.
After 25 seconds the EA close the both position.
Now the we have +5pips for the buy position and -5 for the sell position.

+5 + (-5) =0
Now we are break-even.
Part for the rebates
But our account is linked with a ‘rebate-company’ who gives us a rebates of 1.2pips for each opened position.

If we know that 1 pip=0.01 dollarcent and if we open trades with 1.00 lotsize

Is this (1.5pips+1.5pips)* 1.00= 300 dollarcent

Kind regards
Leaving aside the obvious difficulties of sending simultaneous trades, I have no idea if this can survive the spread, or if the crim will allow it. I cannot help thinking that someone would already be rich were it a successful idea.

Still, it took longer to type this than it did to program, so here it is. CandleTimeFrame tells the EA to trade at the start of your chosen candle, by default once a minute.

Any comments from those of you with experience of rebate crims?

:D
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Dixpat
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Location: Auckland. NZ

Re: ankof1 Rebate EA

Post by Dixpat »

Wouldn't the spreads on both trades effectively neutralise or at worse see a loss?
ankof1
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Re: ankof1 Rebate EA

Post by ankof1 »

Dixpat wrote:Wouldn't the spreads on both trades effectively neutralise or at worse see a loss?
yes the both spreads would neutralise the both trades.
if we could open a long and short position at the same time
and if we immedatly could close the both we will make profit.

but we have to solve the problems that is maked by the broker.
eg. requotes
trades that does not open / close on time

but i will it see in the forward test
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Dixpat
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Location: Auckland. NZ

Re: ankof1 Rebate EA

Post by Dixpat »

Immediately the 2 trades open they will both be in a loss situation due to the spreads

After 25 secs the price may have moved 5 pips but the difference will still be the value of that orginal loss

Am I missing something??
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monkeh
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Re: ankof1 Rebate EA

Post by monkeh »

ankof1 wrote:
Dixpat wrote:Wouldn't the spreads on both trades effectively neutralise or at worse see a loss?
yes the both spreads would neutralise the both trades.
if we could open a long and short position at the same time
and if we immedatly could close the both we will make profit.

but we have to solve the problems that is maked by the criminal.
eg. requotes
trades that does not open / close on time

but i will it see in the forward test
yes i do agree too. 2 orders sent means 2 times spread involved. orders will never neutralize themselves, rather always close in loss. unless your spread is so always so tiny..
But if you constantly get 0.6 pip (one way) spread without any other commission involved, then i highly doubt broker would agree to give a 1.2 pip rebate at first place.
but if such broker exist please tell me too :]
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