Before you read anything else: I'm a complete novice to Forex. It’s hard to understate how little I know, so please bear that in my mind before posting.
(But I'm a bright guy and I think my approach is a good way to learn what’s what)
I'm tired of not having money, so I've decided to learn how to make money. I'm not looking to get rich, but I want my savings to make me more than the 2% annually that my bank offers.
My approach to learning is pretty straight forward: Do it and see what sticks.
This thread is gonna try and document my stupid attempts at making profitable robots, so hopefully it’ll be interesting
I’ve got no experience in coding, so please don’t laugh at how I approach “creating” robots.
I’ve got a feeling that it’ll be “easier” to start manually trading, but my RL circumstances don’t allow me to do that (two kids, wife and a job without a computer) and, more importantly, I know myself well enough to know that it would take me a long time (years) to learn the discipline of following a strategy.
I've listened to some podcasts and they didn't offer a lot except for a recommendation for John J. Murphy, so I'm reading him and he makes sense (so if you're an experienced trader, know that he's my only point of reference).
I’ve mashed together an EA in order to try things out and I made a couple of posts about it here and here. I’m quite surprised that it’s working (at the time of writing it’s only been running for 14 days), but it makes me hopeful that maybe this Forex business isn’t that hard after all
It’s ridiculously simple: 2 MA, open trade at a cross. I then close all trades when I have a combined 30 Pips. Each individual pair has a SL of 30 pips, so my account don’t go bananas.
I’m trading five pairs: AUDCHF, AUDUSD, EURCHF, EURUSD and NZDJPY. They were picked pretty much at random and I did some backtesting, so some of the settings are a little different, but not much: FMA= 8ish, SMA= 20ish. I started out with a basket TP of 50 pips but I changed it after the first week to 30 pips.
You can see the results in my trade explorer, and I’m trying to figure out what I’m doing wrong. I think that I’m risking quite a lot and being a bit lucky at the same time and that’s what’s giving me good results. I’m doing 0.1 lots per trade, so that’s ~1% risk on each open position, with a potential of 5 positions failing at once (or an infinite number of positions failing in a row while I’m sleeping), but so far it seems to be doing good. Am I being reckless?
The R:R ratio is a little tricky to figure out since I’m having a TP of [all trades=30pips] vs. a SL of [one trade =-30pips]. If anyone has any input on this, please comment
The trades are very random, so I think the only redeeming feature is the basket system, but I’m not sure how reliable it is (because the math is too hard for me).
Since demo accounts are free, I’ve decided to test the same concept, but with more pairs: My other account is trading on 23 pairs with a 30 SL on each individual pair and a TP of 30 pips on the basket.
My initial thoughts are that it’ll do fine, but I’m really worried that I’m not seeing the Worst Case Scenario. If anyone experienced can enlighten me, it’d be much appreciated
Also, I’m really not sure how I should change my lot size when I’m increasing my number of pairs. Should I keep the 1% per pair? Is it insane, since we’re talking 23 pairs? Should I increase the basket size?
Anyways, I hope this’ll be helpful to some people. If you have advice, please feel free to share it. If you don’t, feel free to ask questions.
/Simon
PS: so far, I’ve only used freely available robots, so there’s no magic there. Feel free to ask for the set files, they’re rubbish.
PPS: Everything here is a losing strategy.
(But I'm a bright guy and I think my approach is a good way to learn what’s what)
I'm tired of not having money, so I've decided to learn how to make money. I'm not looking to get rich, but I want my savings to make me more than the 2% annually that my bank offers.
My approach to learning is pretty straight forward: Do it and see what sticks.
This thread is gonna try and document my stupid attempts at making profitable robots, so hopefully it’ll be interesting
I’ve got no experience in coding, so please don’t laugh at how I approach “creating” robots.
I’ve got a feeling that it’ll be “easier” to start manually trading, but my RL circumstances don’t allow me to do that (two kids, wife and a job without a computer) and, more importantly, I know myself well enough to know that it would take me a long time (years) to learn the discipline of following a strategy.
I've listened to some podcasts and they didn't offer a lot except for a recommendation for John J. Murphy, so I'm reading him and he makes sense (so if you're an experienced trader, know that he's my only point of reference).
I’ve mashed together an EA in order to try things out and I made a couple of posts about it here and here. I’m quite surprised that it’s working (at the time of writing it’s only been running for 14 days), but it makes me hopeful that maybe this Forex business isn’t that hard after all
It’s ridiculously simple: 2 MA, open trade at a cross. I then close all trades when I have a combined 30 Pips. Each individual pair has a SL of 30 pips, so my account don’t go bananas.
I’m trading five pairs: AUDCHF, AUDUSD, EURCHF, EURUSD and NZDJPY. They were picked pretty much at random and I did some backtesting, so some of the settings are a little different, but not much: FMA= 8ish, SMA= 20ish. I started out with a basket TP of 50 pips but I changed it after the first week to 30 pips.
You can see the results in my trade explorer, and I’m trying to figure out what I’m doing wrong. I think that I’m risking quite a lot and being a bit lucky at the same time and that’s what’s giving me good results. I’m doing 0.1 lots per trade, so that’s ~1% risk on each open position, with a potential of 5 positions failing at once (or an infinite number of positions failing in a row while I’m sleeping), but so far it seems to be doing good. Am I being reckless?
The R:R ratio is a little tricky to figure out since I’m having a TP of [all trades=30pips] vs. a SL of [one trade =-30pips]. If anyone has any input on this, please comment
The trades are very random, so I think the only redeeming feature is the basket system, but I’m not sure how reliable it is (because the math is too hard for me).
Since demo accounts are free, I’ve decided to test the same concept, but with more pairs: My other account is trading on 23 pairs with a 30 SL on each individual pair and a TP of 30 pips on the basket.
My initial thoughts are that it’ll do fine, but I’m really worried that I’m not seeing the Worst Case Scenario. If anyone experienced can enlighten me, it’d be much appreciated
Also, I’m really not sure how I should change my lot size when I’m increasing my number of pairs. Should I keep the 1% per pair? Is it insane, since we’re talking 23 pairs? Should I increase the basket size?
Anyways, I hope this’ll be helpful to some people. If you have advice, please feel free to share it. If you don’t, feel free to ask questions.
/Simon
PS: so far, I’ve only used freely available robots, so there’s no magic there. Feel free to ask for the set files, they’re rubbish.
PPS: Everything here is a losing strategy.