Hi there,
I am new to fx and FF and so I may not always be using the correct terminology .. so please jump in and correct me.
After loading MT4, I have been trying to get a perspective on all the available information and how it might help or hinder me.
I know that 'Less is More' paricularily when it comes to Inputs. Some thingswhen read in singular context seem like the Wholly Grail,
but when considered in the broader scheme of things they have little merit.
So far, this is what I have come up with.
Initially the System must be semi-automatic with the Buy/Sell buttons being activated manually
The inputs need to be tiered and variable and drill 'top down', not 'bottom up'
Thought must be given to 'no trade zones' covering blocks of time when trading is too risky.
Initially a VPS may not be a good idea.
All trades should be OCO (bracket Trades)
Tier 1 This would create the macro playing field and might contain CSM, pairs showing increased volatility, pairs showing correlation
+/- say 80% etc etc ..... often too many filters can eliminate good trades which in turn degrades our risk factor ..which
is precisely the opposite of what filters are meant to achieve.
Intially some of these Inputs would be better entered manually on a daily/weekly basis.
Tier 2 Would contain the Inputs for the conditions of order entry and I would imagine this would involve MTF drilled down to a level (H1,maybe M30)
Tier 3 Would contain the Inputs of the actual entry.
Tier 4 Would switch the fixed stop to a trailing stop.
Tier 4 Would contain the exit conditions and removal of all stops.
Now I don't know whether I am describing a Robot, or EA or something else for that matter ...someone can straighten me up on this.
I would look forward to your thoughts on this, including the prospect that a Platform similar to this already exists.
cheers
I am new to fx and FF and so I may not always be using the correct terminology .. so please jump in and correct me.
After loading MT4, I have been trying to get a perspective on all the available information and how it might help or hinder me.
I know that 'Less is More' paricularily when it comes to Inputs. Some thingswhen read in singular context seem like the Wholly Grail,
but when considered in the broader scheme of things they have little merit.
So far, this is what I have come up with.
Initially the System must be semi-automatic with the Buy/Sell buttons being activated manually
The inputs need to be tiered and variable and drill 'top down', not 'bottom up'
Thought must be given to 'no trade zones' covering blocks of time when trading is too risky.
Initially a VPS may not be a good idea.
All trades should be OCO (bracket Trades)
Tier 1 This would create the macro playing field and might contain CSM, pairs showing increased volatility, pairs showing correlation
+/- say 80% etc etc ..... often too many filters can eliminate good trades which in turn degrades our risk factor ..which
is precisely the opposite of what filters are meant to achieve.
Intially some of these Inputs would be better entered manually on a daily/weekly basis.
Tier 2 Would contain the Inputs for the conditions of order entry and I would imagine this would involve MTF drilled down to a level (H1,maybe M30)
Tier 3 Would contain the Inputs of the actual entry.
Tier 4 Would switch the fixed stop to a trailing stop.
Tier 4 Would contain the exit conditions and removal of all stops.
Now I don't know whether I am describing a Robot, or EA or something else for that matter ...someone can straighten me up on this.
I would look forward to your thoughts on this, including the prospect that a Platform similar to this already exists.
cheers