Hi All,
Thought I'd start a thread to follow this, but I'm testing a theory to help prove to people how powerful risk management is over getting the perfect entry / exit.
As disclosure I'm not selling anything or wanting people to invest in me. This is a demo account with IG Markets, originally funded with $10,000 USD at about 2pm GMT on the 10th March 2016.
The EA is running a very simple strategy on the 15 minute charts only trading the DAX (at the moment 24 hours a day, but I might put a time filter on it to only trade the EU / US sessions).
Rules are basically that it trades buy / sells alternatively. So when a trade's stop loss or take profit is hit the EA then takes the trade on the other side.
Settings are a 500 pip take profit (I could probably bring this down, and may well do to see if that it increase profits), a 100 pip initial stop and a step 25 pip trailing stop (If you are used to IG then this would translate to a 50 pip / 10 pip and 2.5 pip step on the web interface although I don't think you can have less than a 6 pip step there on a spread betting account).
Anyway if this turns out to be profitable then it'll hopefully show that managing your risk and locking in profits is one of the most important aspects.
I did backtest this with tick data from Duckstory over a 12 month period. On 15 minute charts it ended up making about £100k net (£300k gains and £200k losses) but it lost money on all other timeframes.
Enjoy!
T/E is here: http://www.forexfactory.com/nox120 (if anyone can tell me how to embed it into the thread that would be great!)
Thought I'd start a thread to follow this, but I'm testing a theory to help prove to people how powerful risk management is over getting the perfect entry / exit.
As disclosure I'm not selling anything or wanting people to invest in me. This is a demo account with IG Markets, originally funded with $10,000 USD at about 2pm GMT on the 10th March 2016.
The EA is running a very simple strategy on the 15 minute charts only trading the DAX (at the moment 24 hours a day, but I might put a time filter on it to only trade the EU / US sessions).
Rules are basically that it trades buy / sells alternatively. So when a trade's stop loss or take profit is hit the EA then takes the trade on the other side.
Settings are a 500 pip take profit (I could probably bring this down, and may well do to see if that it increase profits), a 100 pip initial stop and a step 25 pip trailing stop (If you are used to IG then this would translate to a 50 pip / 10 pip and 2.5 pip step on the web interface although I don't think you can have less than a 6 pip step there on a spread betting account).
Anyway if this turns out to be profitable then it'll hopefully show that managing your risk and locking in profits is one of the most important aspects.
I did backtest this with tick data from Duckstory over a 12 month period. On 15 minute charts it ended up making about £100k net (£300k gains and £200k losses) but it lost money on all other timeframes.
Enjoy!
T/E is here: http://www.forexfactory.com/nox120 (if anyone can tell me how to embed it into the thread that would be great!)