Has it been a week already? Friday UPDATE time!
(Little earlier than usual, but with an average trade duration of 4+ hours and the algo being flat by 2pm, it made no sense to let it take new trades with the weekend coming shortly.)
Notable Changes:
(Little earlier than usual, but with an average trade duration of 4+ hours and the algo being flat by 2pm, it made no sense to let it take new trades with the weekend coming shortly.)
Notable Changes:
- I've started two experimental accounts on the side to test a few theories out. One is live, one is demo.
- The new live account takes nearly the same strategy implemented on my production live account but jacks up the size and takes a slightly different approach to managing drawdowns. It also does away with the "Dasher" method mentioned earlier and sticks to the "Runner" method. It's only $50, and I won't report on it here, since the main reason I've put it in play is for experimenting. Any profit/balance will just go back to my manual trading account, and some of the changes might make it into production.
- The demo account is running a modified version of the production strategy on a new pair. I spent a little time this last week doing some porting to other pairs and testing of variables and think I found a good setup, but it's gotta run for a week or two on demo to make sure there's no bugs.
Notable Stats:
- 394 trades to date. I thought we'd breach 400+ by this time but a few days this week were slower than usual.
- This week saw some very abnormal price movements from what the strategy is used to trading with on the main pair. It seemed to last for about two days following a news event. I shut the algo off during the news release (as normal) but it really took a beating after I turned it back on. Market seemed to grind slowly in every direction that could harm the algo during this time, kinda frustrating really, but I sat it out.
- Given the rough trading conditions, drawdown touched a new high of 9.48% this week. This wouldn't show in the drawdown chart since the day it occurred saw some recovery putting the final number a lot lower, but I thought I'd mention it since it was notable. The strategy recovered quickly from this, and given my backtest results I can expect periods of worse drawdown, but still not a pleasant sight. (EDIT: I thought I'd mention again that the algo has shifted up to a higher size during the last week and a bit, so the chart below will look more jagged but the pip return is still well within what's expected.)
- The EA finished the week net positive, and now sits at a total return of 16.41%, or $49.22 in profit on the $300 account. This is only a little over 1% since last friday, but I'll take that over a net loss any week.
- $782,000 in notional volume traded since inception... getting close to my next milestone of a million pushed.
- Given the rough trading encountered, profit factor decreased to 1.18 during this period.
http://i.imgur.com/uUqjE.png
I'm going to start rolling the chart window forward in the next few updates so it focuses more on recent changes. When I start doing that, I'll post the link to the MyFXBook page so anyone can review the full chart. (I haven't posted that link yet since there's still a tab that shows which pairs are being traded even though the trade history is private, and I'm asking them if it's possible to hide that as well. Or I might just break down and say which pair it is, since I've already given away enough for people to guess by this point. lol.)
Anyway, I'm hoping that next week my algo won't take it in the pants as much as it did this week.
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