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The REAL Traders Video Journal, 3-5% per month as a US trader

  • #101
  • Jun 21, 2017 6:04am Jun 21, 2017 6:04am
Quoting Erebus
{quote} All right, that explained that, thanks. I thought they were all 30 minutes, and I recall you saying how to set an alarm for every half hour as a reminder to check the chart, so that's where I got that idea. By the way, that was only the second hour of the week's open, which reminds me, most systems usually make a reference to the fact that trading the main London and New York sessions yield best results; however you have never said any preference and being in USA, I assume you don't get up early for London but the EA will trade that while...

By the way...You were wondering about this trade....

Just closed out for good profit.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPfH1.png Size: 28 KB
  • #102
  • Jun 21, 2017 6:17am Jun 21, 2017 6:17am
I see that, and it supports the comment I just posted about trading from London open, see the session times at the top with vertical lines

And then the Inside bar marked, the black one, good entry below that

projected lines are there for daily ranges (50)

thanks for the reply



Attached Image (click to enlarge)
Click to Enlarge Name: 2017-06-21_21-14-31.png Size: 45 KB
It takes a lot for me to IGNORE you, but you can try.
  • #103
  • Jun 21, 2017 6:44am Jun 21, 2017 6:44am
Very good video as always! Good luck to the future and i hope you will reach your goals and we'll see you again rather sooner than later

BTW, i trade nowdays on ctrader and there is no RMI nor ibands available for it. I've used RSI, but would you have any suggestions to replace it with other similar indicator that would have same kind of results?
  • #104
  • Jun 21, 2017 7:16am Jun 21, 2017 7:16am
Thanks Ryan for all the streams and information, good luck, I am sure you will hit your goals in no time!

Thanks!
  • #105
  • Jun 21, 2017 7:57am Jun 21, 2017 7:57am
Quoting Tomi-FIN
Very good video as always! Good luck to the future and i hope you will reach your goals and we'll see you again rather sooner than later BTW, i trade nowdays on ctrader and there is no RMI nor ibands available for it. I've used RSI, but would you have any suggestions to replace it with other similar indicator that would have same kind of results?

Easy solution for this. Just find a broker that uses MT4 and open a demo account. You will need to use 2 platforms though. One from ctrader and the other is the demo mt4 platform. This way when you see a setup on your mt4 you take the position on your ctrader.

Still, I recommend a MT4 broker overall. More control.
  • #106
  • Jun 21, 2017 4:51pm Jun 21, 2017 4:51pm
hey, also based out of usa. how did you decide on lmfx? i am seeing many mixed reviews, esp for funding and withdrawing. i have been looking at fx choice but haven't joined yet.

thanks!
  • #107
  • Jun 22, 2017 6:11am Jun 22, 2017 6:11am
Quoting msetai
hey, also based out of usa. how did you decide on lmfx? i am seeing many mixed reviews, esp for funding and withdrawing. i have been looking at fx choice but haven't joined yet. thanks!
I decided on LMFX because of the support they were getting from forexsignals.com. Also, they seemed honest and eager to please. The biggest reason was the 100% bonus they give on deposits. Typically bonuses are a gimmick to get traders to lose their money even faster but if a trader knows and understands how to use this bonus correctly, he/she can make the most of it.

I've withdrawn profits and my entire account a few times and they were quick and professional about it. Total withdrawn so far has been around $15k with no problems.

Spreads are not the lowest in the world but they are workable.
  • #108
  • Jun 25, 2017 11:46am Jun 25, 2017 11:46am
Quoting Erebus
I see that, and it supports the comment I just posted about trading from London open, see the session times at the top with vertical lines And then the Inside bar marked, the black one, good entry below that projected lines are there for daily ranges (50) thanks for the reply {image}

Where can I find this particular RMI indicator?
"All the money is made between the lines"
  • #109
  • Jun 25, 2017 8:44pm Jun 25, 2017 8:44pm
Cubbybgood,

I really appreciate you taking the time to post these journal/videos. I've learned a lot from them. I hope you reach your goal and come back soon!
"All the money is made between the lines"
  • #110
  • Jun 26, 2017 2:42pm Jun 26, 2017 2:42pm
Lsst week, I started backtesting my EA on MT5.

As a reference for further tests, I run a test with Ryan's original settings.
You'll find the results Pictures 1 and 2. They are pretty similar to those Ryan showed us in his videos.

During my tests, I came across two points, that are important to know especially with this system:

  1. Be careful with the testing modes "1 Minute OHLC" and "Open prices only"
    Especially the 1-minute-OHLC-mode (Control points in MT4) is an artifical construct and leads to much better results than real trading would offer.
    Look at Picture 3: the left chart was created in every tick mode and the trades were closed properly at the correct level. The right chart shows the same trades in 1-minute-OHLC-mode. After opening of candle at 19.00, the next tick was generated at the low of that candle without intermediate ticks.
    The EA closed the trades at this point, which leads to much more profit compared to the tick mode.
    If you test an EA with other than every-tick-mode, the EA has to be specially prepared for that !
  2. Volatility protection
    On Picture 4, you see a huge momentum candle of 1400 pips, obviously after a big news event. Without some kind of protection against those events, the system would have opened dozens of trades within this one candle.
    In my eyes, it is vital to have this protection, otherwise, you will suffer a massive drawdown after specific events sooner or later.

Oliver

Attached Image(s) (click to enlarge)
Click to Enlarge Name: Pic 1 - Results GBPCAD original settings.PNG Size: 72 KB
Click to Enlarge Name: Pic 2 - Balance-Equity-Curve GBPCAD original settings.png Size: 55 KB
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Click to Enlarge Name: Pic 4 - Volatility.png Size: 33 KB
  • #111
  • Jun 28, 2017 11:33am Jun 28, 2017 11:33am
Quoting osfx
Lsst week, I started backtesting my EA on MT5. As a reference for further tests, I run a test with Ryan's original settings. You'll find the results Pictures 1 and 2. They are pretty similar to those Ryan showed us in his videos. During my tests, I came across two points, that are important to know especially with this system: Be careful with the testing modes "1 Minute OHLC" and "Open prices only" Especially the 1-minute-OHLC-mode (Control points in MT4) is an artifical construct and leads to much better results than real trading would offer. Look...
This is really amazing work. Will you be selling this EA once you've got it dialed-in?
"All the money is made between the lines"
  • #112
  • Jun 28, 2017 7:41pm Jun 28, 2017 7:41pm
Quoting Test10
{quote} This is really amazing work. Will you be selling this EA once you've got it dialed-in?
I would hope not because it's value is priceless. I would know!
  • #113
  • Jun 28, 2017 7:46pm Jun 28, 2017 7:46pm
Hi All

does anyone know of a good inside bar indicator, one that may work with RMI, I'm not after an EA as I prefer to manually trade. But would like an indicator that could provide an email alert for IB with RMI confirmation....the answer may well be an EA...just thought Id put it out there

cheers Craig
  • #114
  • Jun 28, 2017 8:04pm Jun 28, 2017 8:04pm
Quoting crowie
Hi All does anyone know of a good inside bar indicator, one that may work with RMI, I'm not after an EA as I prefer to manually trade. But would like an indicator that could provide an email alert for IB with RMI confirmation....the answer may well be an EA...just thought Id put it out there cheers Craig
1. Search the Platform Tech section, surely someone has posted an Inside Candle with Alert previously

2. I doubt if you find one coded with RMI, I am assuming that you wish it to be above or below the 70 / 30 lines simultaneously with the Inside Bar?

3. As far as I know, he trades only EURGBP on 1H or GBPCAD on 30M, so if you just trade a session eg. London, not a big deal to check on the time, bt price has been moving quickly so an email alert may not even be quick enough, hence the EA I guess
It takes a lot for me to IGNORE you, but you can try.
  • #115
  • Jun 28, 2017 8:08pm Jun 28, 2017 8:08pm
Thanks John

Q1 will do

Q2 Yes, thats the plan, will filter a lot of non qualifying IB

Q3 Yes had thought about that, if i was going the EA way Id incorporate a news filter....I just prefer to manually trade....

Are you using TraderAgent.....its a great piece of software

Cheers Craig
  • #116
  • Jun 29, 2017 12:42am Jun 29, 2017 12:42am
Yesterday I finished the first testing cycle.

As in this case, backtesting can be an endless, time-consuming business, I use a strategic approach.
In my first cycle, I scanned all 28 pairs with a wide range of parameters, using the fast genetic based algorithm, to get an overview.

MT5 does a really good job here - testing of about 60.000 combinations with this method takes about 1 hour per pair (on a 4 core CPU).
I clustered the results into 3 groups:

  1. #1: pairs with a quite large number of acceptable results across different settings - we want to find robust setups with a certain tolerance against parameter changes.
  2. #2: pairs with a few acceptable results - those results are likely random hits and usually not very stable.
  3. #3: pairs, the strategy doesn't work with

So far, I identified the following pairs for group #1: AUDCAD, AUDUSD, EURGBP, GBPCAD, GBPCHF, NZDCAD, USDCAD, CADCHF
Among the better results, there are often setups with the RMI on a higher timeframe (e.g. main timeframe M30, RMI H1).
For the next round, I will concentrate only on those pairs.

Keep you posted,
Oliver

  • #117
  • Jun 29, 2017 6:29am Jun 29, 2017 6:29am
Quoting Test10
{quote} This is really amazing work. Will you be selling this EA once you've got it dialed-in?
For now, I don't know. I take step after step, my focus is to create a promising EA and to see, how it works on a live account.
  • #118
  • Jun 30, 2017 6:50pm Jun 30, 2017 6:50pm
Quoting osfx
Lsst week, I started backtesting my EA on MT5. As a reference for further tests, I run a test with Ryan's original settings. You'll find the results Pictures 1 and 2. They are pretty similar to those Ryan showed us in his videos. During my tests, I came across two points, that are important to know especially with this system: Be careful with the testing modes "1 Minute OHLC" and "Open prices only" Especially the 1-minute-OHLC-mode (Control points in MT4) is an artifical construct and leads to much better results than real trading would offer. Look...
I am very jealous that you can build your own EA.. That is awesome !! I would really like to learn how to do this. What t would you suggest for me to learn how to do coding. I have no experience with programming or coding. Thanks for your post very interesting, please keep up with your progress.
Thanks
  • #119
  • Jul 1, 2017 8:00am Jul 1, 2017 8:00am
Quoting cliffvitale
{quote} I am very jealous that you can build your own EA.. That is awesome !! I would really like to learn how to do this. What t would you suggest for me to learn how to do coding. I have no experience with programming or coding. Thanks for your post very interesting, please keep up with your progress. Thanks
If you want to learn mql-coding from scratch, search for "Jim Dandy Forex" oder "JimDandy1958". He offers detailed commercial courses on mql4 (which is easier to start with). But there are a lot of free videos on youtube as well. I watched some of his videos and in my opinion, his way of teaching is quite clear and understandable.

Oliver
  • #120
  • Jul 2, 2017 11:15am Jul 2, 2017 11:15am
The second testing cycle is done.

Our enemies in backtesting are curve-fitting and over-optimization. Another sign of robustness are setups, that work across multiple pairs.

I found a setup, that shows good results across 9 pairs (the 8 pairs listed as #1 in post 116 + EURCHF), with each pair adding quite equally to the total result.
The picture shows the results of the setup.

The CAD is dominating the portfolio, but with 6 currencies involved, the dependency of one currency is not too strong.
The monthly gain of the setup is about 8.3% in the test, so I would be happy with 5-8% in real trading. The max stagnation period of the balance is 2 months.

Sure, if you optimize each pair individually, you can squeeze out even more profit and a better return-DD-ratio, but this seems the more solid way to me.

Tomorrow I will start on a demo account for 2 weeks to check, if there are any issues with the EA in live operation. You will certainly get a link to watch the progress.
Oliver
Attached Image (click to enlarge)
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