ForexScotty Dashboard

Bad Day. Looking for recovery tomorrow.

For me, I have been working on this algorithm for 5 years now, posting results of various versions and set files. Over that time I have noticed that I have never had more than 3 consecutive bad days. So, this version and set file I have adjusted a recovery algorithm to recover if there are as many as 6 bad days in a row on low risk settings. 4-5 on medium risk and 3 on high risk settings.

You can spend 10 years and not create a profitable algorithm. The time spent does not guarantee success...
Some people need a year, some a month, some, like in your case, even 5 years were not enough, and it is unknown how many more years you will need...

Very true. That's why I enjoy it as s a hobby. Lifelong challenge.

Bad day #2 - Looking for recovery Monday -Have a great weekend!

A little worried about the high risk account, but that is what stress testing is for.

I have noticed that in the past several years, I have never had more than 3 consecutive bad days. So, this version and set file I have adjusted a recovery algorithm to recover if there are as many as 6 bad days in a row on low risk settings. 4-5 on medium risk and 3 on high risk settings.

I am feeling reassured though as with 2 consecutive bad days...

1. High Risk account showing 17% DD
2. Medium Risk account showing only 7.7% DD
3. Low Risk account showing only 5% DD

A samurai has no goal, only a path, and the path of a samurai is death.

Preferably an honorable one.

Not a big losing day, but not a recovery day either. High risk account went to 43% DD. I don't like that. will focus on Low and Medium Risk accounts.

So much for the low risk account. Well, back to the drawing board. Hehe. WAY too much DD for long term functionality

New set file started February 1st 2024

Well, we knew it would happen eventually. Trader's way just informed me that my account will no longer have access to MT4/5 after April 24th as I am in the US. Now we begin the search on how to proceed next. The EA is pretty much done, just a couple more things to do. Figures...LOL!

Happy Trading!

I've had tunnel vision these last few years while developing it. Are there other Algorithm Automation options for Forex other than MQL? Sorry, been living under a rock.

I'll run the Demo TE for as long as they will let me, but I have withdrawn my live account funds. They have been great!

After 4 consecutive losing days, stopped trading 2.40 and loaded latest version 2.41.

What did we learn and what did we do about it?

Added News Filter to not allow trading on GBP and USD Holidays
Removed three pairs that were negatively affecting the algorithm
Added Reserve Balance to Money Management strategy to mitigate over leveraging of account and giving plenty of room for DD.

Preparing for PAMM/PROP testing. 3 new accounts opened with Australian Group. 2 Trade Explorers posted here on FF on this thread.

All 3 viewable here.
Low Risk
https://www.myfxbook.com/members/FXS...-test/10813235

Aggressive Settings
https://www.myfxbook.com/members/FXS...10500/10822455

Midian Settings
https://www.myfxbook.com/members/FXS...05500/10822477

2 Losing days followed by recovery. And then a good day today. Targets hit on all accounts.



Trade Explorers Added.

Not a bad first week on new settings.

Added a 4th trade explorer testing a stepped, compounding, recovery Money Management strategy. Also, watching the trades on myfxbook, I have noticed the stats do NOT line up with what is actually happening on the account. Their Drawdown calculations and my algorithm do not jive. Forex Factory trade explorers seems to have more accurate data reporting and more info, so I will post everything here.



All four account stats can be found on my Forex Factory profile.

EA uses multiple trades, trending pairs offsetting ranging pairs resulting in a daily target. When reached, EA shuts down and awaits next day. If not reached, recovery algorithm calculates amount needed to reach target and adjusts lotsize accordingly. As opposed to arbitrary martingale which simply doubles lot size until success or failure.

The failing of most recovery strategies including martingale style is that initial lotsize is calculated on the entire account balance. Latest version now includes a reserve balance that is not included in calculating initial lotsize, therefore allowing more room to recover and keeping reasonable drawdown.

The largest challenge in trading multiple pairs in an algorithm is the inability to back test. Forward live/demo testing is the only option. So, it takes time to view patterns of behavior, make changes, and view the effect. The most stable account set file will be the winner and be used in the managed account this summer.

Target Hit

Target Hit

Accounts #1 and #2 Hit Target within minutes of session start. #3 and #4 we wait.