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Trade Explorer - Automated trading with dynamic risk mgmt

  • Automated Risk Management | Demo Account XXXXXX46 Starting Oct 1, 2013
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  • First Post: Edited Aug 1, 2013 9:48am Jul 30, 2013 10:54am | Edited Aug 1, 2013 9:48am
  •  cgrey
  • | Joined Aug 2007 | Status: Member | 687 Posts
Been a while since I've posted anything here. I've been tweaking an automated trading strategy for a couple of months now, and felt it time to create a Trade Explorer to track the results publicly to "keep myself honest".

I have long been a believer that money/risk management is the key to a successful trading system, and is far more important than finding "perfect" entries and exits. The system this explorer tracks is built entirely on that foundation. It is not my intent to debate (nor will I engage in conversation about) how entries are determined - other than to state for clarity that some very basic criteria based on the general trend on the M15 chart is used to determine entries.

Further, I'm also a strong believer in having a monthly goal/target, trading to that target, and quitting once the target is reached (further tight control over risk). I run my trading business like a business, not a gambling hobby/addiction. Again, the pros and cons of this type of strategy have been debated extensively, and will not become the focus of this thread.


The basics
Risk is calculated at the time of every trade, and should be the absolute minimum necessary to achieve the specific target for this trade, as related to the overall monthly goal

Overall target is a 6% PER MONTH return against the account balance. Consistently over the course of a year, a 6%/month return equates to doubling the account balance annually

Trades are calculated/executed on the M15 chart

EURUSD is the only pair traded

There will only be one trade "in play" at any given point in time

This is a "slow and steady" strategy. Gains (and more importantly, losses) will be small. If you're looking for edge of your seat, fast-paced trading, this will likely bore you to death

We expect, on average, 40-60 trades per month (2-3 trades per trading day, an average of 20 trading days per month)

=============
Discussion
To repeat - I will not be discussing specific entries/exits or why they were chosen. Nor will I engage in debate over trading to specific targets vs. trading repeatedly for the highest possible gain. Should either of these topics be mentioned, my lack of reply should not be taken as being rude - I've been clear that I will not discuss these.

If there is interest, I will discuss in more detail the calculation of targets, and risk as it relates.

The trade explorer is tied to a demo account, and all details are set to "public" for full transparency. This is an experiment.

Trading against this account began on August 1st, 2013.
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