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Majors Scalping

  • #1
  • First Post: Edited 2:56pm Dec 21, 2022 3:17am | Edited 2:56pm
hello friends

I have been testing an automated strategy on a demo account that I created without coding, and I'm pretty excited tonight as its just gone into profit after 500 trades.

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Rules:
Every 60min bar sort each major symbol by the size of the previous 60min bar.
Look for the smallest bar
If above 14ma, take trend trade for 5 points.

Every hour.


Portfolio back testing looks nice, but demo forward testing is taking a little bit to get moving.

How its been created
It will close out all positions near the end of the day and start fresh each day
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  • #2
  • Dec 21, 2022 5:24am Dec 21, 2022 5:24am
Excuse me, I don't understand:
first profit after 500 trades? Or what do you mean?
Just an opinion. Based on research
  • #3
  • Dec 21, 2022 5:34am Dec 21, 2022 5:34am
Quoting since80808
Excuse me, I don't understand: first profit after 500 trades? Or what do you mean?
hi !

Not the first profit, but the first time the equity is in profit.

From the start it went down, which was a bit sad, but now its starting to move up again. Just need to win a few more than it loses.

its taken 500 trades to get in profit
  • #4
  • Dec 21, 2022 10:52am Dec 21, 2022 10:52am
Quoting trading007
{quote} hi ! Not the first profit, but the first time the equity is in profit. From the start it went down, which was a bit sad, but now its starting to move up again. Just need to win a few more than it loses. its taken 500 trades to get in profit
Hi Trading007

I build a similar EA where it traded on the M5 and take profit was just 7 points.

I used the 200MA and traded it only when long when above MA or short below MA.

What I found out is you have to use only a trending pairs like GBPUSD, GBPAUD, EURNZD.
It failed on reversal pairs like EURUSD, EURJPY or EURAUD.

Overal, its the pair you use that makes the biggest difference, not the MA or take profit set.
Also I used any bar above average so it differed from your experiment.
Make I suggest you set a trade requirement that it only trades from Asia open till mid New York session and also the smallest bar can't be used if last 5 bars are of equal size. One more thing worth looking at is results achieved on days of the week, Monday often is a waste of time trading due to losses your EA may get hit with.

Normally on backtesting, it shows incorrect Drawdown results so a 20% draw down figure is really 30% on a live chart.
Just accept testing data is dodgy.

Good Luck with you trial but Dump EA if it ever goes above drawdown greater than 20%.
Trading thin liquidity at the boundary of the charts
  • #5
  • Dec 21, 2022 2:33pm Dec 21, 2022 2:33pm
Quoting RickM
{quote} Hi Trading007 I build a similar EA where it traded on the M5 and take profit was just 7 points. I used the 200MA and traded it only when long when above MA or short below MA. What I found out is you have to use only a trending pairs like GBPUSD, GBPAUD, EURNZD. It failed on reversal pairs like EURUSD, EURJPY or EURAUD. Overal, its the pair you use that makes the biggest difference, not the MA or take profit set. Also I used any bar above average so it differed from your experiment. Make I suggest you set a trade requirement that it only...
Does your EA buy every candle above the MA or only the first candle after the price crosses the MA?
Just an opinion. Based on research
  • #6
  • Dec 21, 2022 2:55pm Dec 21, 2022 2:55pm
Quoting since80808
{quote} Does your EA buy every candle above the MA or only the first candle after the price crosses the MA?
hey there,

Every candle, it will keep going if the main signal is correct.


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  • #7
  • Edited 9:07pm Dec 21, 2022 8:55pm | Edited 9:07pm
Quoting RickM
What I found out is you have to use only a trending pairs like GBPUSD
Hey. GU a trending pair? :-) Could you explain what a trending pair means to you?

I am now watching GBP/USD for the last 2,5 years nearly on a daily base except a few days and to me it appears to move only back and forth at least 70% of the days. Most of 2021 it often doesn’t even moved at all and struggled to make even a 70 Pips high/low from the Open.

A few days ago there was a nice „trending day“ on GU, right from the London Open. However these days are very rare, like 1/20. it’s mean reverting like nearly everything else in the markets.

If I would be somehow able to catch only these „trending days“ but otherwise keep outside and do nothing, I would send an email to ForexFactory to delete my account right away and you could find me on the Yacht.

Cheers
  • #8
  • Dec 22, 2022 12:31am Dec 22, 2022 12:31am
Quoting lddd
{quote} Hey. GU a trending pair? :-) Could you explain what a trending pair means to you? I am now watching GBP/USD for the last 2,5 years nearly on a daily base except a few days and to me it appears to move only back and forth at least 70% of the days. Most of 2021 it often doesn’t even moved at all and struggled to make even a 70 Pips high/low from the Open. A few days ago there was a nice „trending day“ on GU, right from the London Open. However these days are very rare, like 1/20. it’s mean reverting like nearly everything else in the...
Hi Iddd

OK, my data is around three years old so markets may have changed since which you are telling me it has indeed.
I have run many EA's for years where I loved to build Bollinger Band Reversal systems. If you set the Bollinger Band to 40 and bands to around 2.5 and run it on most time frames - the backtested data will show huge draw down numbers on 7 pairs but very nice results on every other pair. Once you study this data, it shows those 7 pairs have bigger trends when it runs by about 3 times the distance. Data proves they are nice pairs to trend trade.

The data showed good trends in those pairs between 2012 to 2019 when I stopped testing them. I got caught in the Asia flash clash of January 2019 and lost $40K which prompted me to burn all those Reversal EA's in a great bonfire.

Therefore I should say GBPUSD up to 2019 was a great trending pair to trade - maybe not now?
Trading thin liquidity at the boundary of the charts
  • #9
  • Edited 6:12pm Dec 22, 2022 5:38pm | Edited 6:12pm
Quoting RickM
Therefore I should say GBPUSD up to 2019 was a great trending pair to trade - maybe not now?
Hey. Looking at the picture below I would say it’s trending down since the 70s.

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Looking at the next picture below over the last 200 years I would say it looks like moving nowhere clear.

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To me the lesson is this.

1) „Trend“ is nothing else than a fancy term without giving it a clear definition and using it in relation of of time from - to.

2) You will only see the „trend“ looking at the past and the moment you place your bet all this makes no difference anymore and even after you found your self in a 200 years lasting trend at that moment it could and probably will change so managing risk is probably key over making forecasts.

Personally to me it all looks like random chaos somehow, no matter what. :-) Price sometimes
goes up/down, sometimes a little slower, sometimes a bit faster. I think that’s already all to it.

I wonder If all that the „trend is your friend“ would be all that easy to make people rich why brokers statistics all saying something different.

There are like a million books on it. So many people still consistently blowing their accounts? They can’t be all that stupid.

I never tried Bollinger Bands. I am sorry for your financial loss. Yeah looks like a hard business to be in. I’ve also lost quite a good amount of money in my journey so far. Should have bought and hold some stocks with it and I probably wouldn’t even have to worry anymore getting success with trading forex haha

Btw. I also believe the more you can automate the better. I am currently testing some grid trading bot on crypto and see how this will work out for me.
  • #10
  • Last Post: Dec 22, 2022 7:48pm Dec 22, 2022 7:48pm
Quoting lddd
{quote} Hey. Looking at the picture below I would say it’s trending down since the 70s. {image} Looking at the next picture below over the last 200 years I would say it looks like moving nowhere clear. {image} To me the lesson is this. 1) „Trend“ is nothing else than a fancy term without giving it a clear definition and using it in relation of of time from - to. 2) You will only see the „trend“ looking at the past and the moment you place your bet all this makes no difference anymore and even after you found your self in a 200 years lasting trend...
Hi Iddd

'There are like a million books on it. So many people still consistently blowing their accounts? They can’t be all that stupid.'

What does myself and ryuryu say all the time?.
They give you hundreds of tools and lessons to trade the markets with but they always find excuses why they can't show you the real volume levels.

„"Trend“ is nothing else than a fancy term without giving it a clear definition and using it in relation of of time from - t".

A trend is caused by extended periods of strong market orders that have the same bias.
Trading thin liquidity at the boundary of the charts
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