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Perfecting my system (inputs greatly appreciated)

  • #21
  • Jul 10, 2024 9:24pm Jul 10, 2024 9:24pm
Quoting RiskFighter
I am working on a new EA which I think works a little like yours. Trading yesterday HI/LO. In case of BO it will trade the trend. In case of reject at the boundary it will trade the range. Not using a fair price priciple though. Price is HI/LO.
I have a good feeling this time due to the hedge feature i put in, it will be the panacea to my issue and become a godlike EA, can't wait to test it out next week when my coder finishes the coding job. The hedge protects profit while also limit losses, solving the last remaining of my 1 DD concern.

And yes I'm using EA, no time to manage trades manually, i just tell my coder what i want, he will just do it, the EA is just another me that never sleeps.

I will think more in the direction of your reply to see if i can get anything new ideas out of it.
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  • #22
  • Jul 11, 2024 2:39am Jul 11, 2024 2:39am
Quoting Reverso
{quote} This reply of yours definitely sparked some ideas in my mind, many thanks for that. Instead of putting entry trigger a little far away due to trying to get best price possible while risk missing the strong trend / suffer big DD on counter positions, I can just start adding positions in the direction of trend whenever there is any pullback at all, even 5 pips or 10 pips. Keep the lot size small so that repeated entry will not create too much risk. SL will not be too tight to avoid triggering it too often.
If you just hedge than you just lock the DD.
it's necessary to find ways to close at BE the orders in loss.
  • #23
  • Jul 11, 2024 2:52am Jul 11, 2024 2:52am
Quoting Merka
{quote} If you just hedge than you just lock the DD. it's necessary to find ways to close at BE the orders in loss.
Yes but you keep it from being worse and you have the ability later on to decide the direction.

I surely agree on using BE. (You can do both). The number one task is to not lose money at the trade.
MetaTrader 4 - so many advantages.
  • #24
  • Jul 11, 2024 3:33am Jul 11, 2024 3:33am
Quoting Merka
{quote} If you just hedge than you just lock the DD. it's necessary to find ways to close at BE the orders in loss.
You are right, in a way I am locking the DD, my system is to TP or let go of the position at the fair price of the day, so using this principle the trades more often than not will get a favorable exit while DD is locked. But the spotlight now is the hedge method, I have devised it in a way that I would profit from the hedged profit and hedge loss, i can dare say this is the holy grail, the last piece of the puzzle.

It's a little too early to conclude because I'm still waiting for my coder to deliver the product next week, after that need to backtest to conclude, then forward test for 1 or 2 months, then can officially go live and possibly quit daily job.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 63.6%
  • #25
  • Jul 11, 2024 4:20am Jul 11, 2024 4:20am
Quoting Reverso
{quote} You are right, in a way I am locking the DD, my system is to TP or let go of the position at the fair price of the day, so using this principle the trades more often than not will get a favorable exit while DD is locked. But the spotlight now is the hedge method, I have devised it in a way that I would profit from the hedged profit and hedge loss, i can dare say this is the holy grail, the last piece of the puzzle. It's a little too early to conclude because I'm still waiting for my coder to deliver the product next week, after that need...
looking forward to it.
Yes forward test it's good but you can judge the idea also by backtesting over 10/20 years of data and youwill crearly see if it's safe to go live or not.
  • #26
  • Jul 11, 2024 7:11am Jul 11, 2024 7:11am
I wasted my 2 months+ to code my own EA, which also suffer from the situation you mentioned, and much more than it. It backtested and worked great on GU/NU and takes lesser trade than yours.

But I don't see mine is robust so I turns it into signal, auto notification to my messaging bot and disable any trading.

Outside of trading, I wouldn't recommend someone to quit daily job like this. I mean, if it was me, I would continue working, gain credit score, get easy loan approval, and may even leverage my game later if it is promising (somewhere indefinitely forward testing). But yeah, I'm just too afraid.
Binds move with curiousity, may the risk rebates
  • #27
  • Jul 11, 2024 7:21am Jul 11, 2024 7:21am
Quoting initiator
I wasted my 2 months+ to code my own EA, which also suffer from the situation you mentioned, and much more than it. It backtested and worked great on GU/NU and takes lesser trade than yours. But I don't see mine is robust so I turns it into signal, auto notification to my messaging bot and disable any trading. Outside of trading, I wouldn't recommend someone to quit daily job like this. I mean, if it was me, I would continue working, gain credit score, get easy loan approval, and may even leverage my game later if it is promising (somewhere indefinitely...
For me i would just pay the coder to do it for me, reasonable price, save you the headache and pain. Any bugs or anything not working they will fix for you.

Yeah I'm also just afraid because i want to see a few months of smooth sailing with enough profits to give me the courage to quit the job, after all that's my main goal, to get out of the cage of 9 to 5 office job, and truly experience what life has to offer, money is the thing that will make it happen.

When things get good, eventually the drawdown will hit me and force me to rethink and reevaluate my strategy to make it more sustainable, it's a lesson i view it positively and thankful it happened sooner rather than later, eventually i will patch up all known vulnerability and go live and quit job without worry.

I truly believe this is it. In a week's time, i put it in backtest and will find out how my unique hedge feature turn out to be, these few days can't stop thinking about it, how it will further enhance my profit while keep my DD controlled.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 63.6%
  • #28
  • Jul 11, 2024 9:35pm Jul 11, 2024 9:35pm
Your username is Reverso, which means you are trading in reverse. Yes, if you handle strong trends well, everything is fine, just like trend trading, you need to handle fluctuations well. In short, the two methods should be unified.

In fact, the simpler, the more effective.

In addition，I agree with the initiator's suggestion.
You can use EA trading while working, work is a basic guarantee
  • #29
  • Jul 11, 2024 11:47pm Jul 11, 2024 11:47pm
Quoting lghr
Your username is Reverso, which means you are trading in reverse. Yes, if you handle strong trends well, everything is fine, just like trend trading, you need to handle fluctuations well. In short, the two methods should be unified. In fact, the simpler, the more effective. In addition，I agree with the initiator's suggestion. You can use EA trading while working, work is a basic guarantee
The username is just a funny name from a character in Cyanide & Happiness Show, that guy does everything in reverse due to a curse haha, nothing related to trading.

Of course I'm striving to achieve a system that works well both in range and trend, it's just that under a certain condition during the course of normal SL and TP, at some point I will arrive at no Buys but a few Sells, and then trend sudden shift to upside killing my Sells and erase lots of profit, possibly go into loss territory due to naked position. Excluding that 1 situation mentioned just now, the EA will just keep generating profits at a steady pace.

Just recently I came up with a way to deal with this, this is literally the only weakness the EA has, once patched up, should be fine.
The drawdown happened as soon as March 2024 but only recently I started to think hard about it when the drawdown happened again, pain is the best teacher I guess. I finally can't just look away at such a weakness that can greatly affect the risk.

Looking forward to post the backtest result of the updated EA, counting down in days now, can't wait for the coder to finish the job.
If all good as expected, this will be the major turning point of my life.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 63.6%
  • #30
  • Edited 7:32am Jul 12, 2024 7:08am | Edited 7:32am
@Reverso

Is your improved strategy able to manage decently this type of situations (this happened yesterday)?
Price was stedially moving upward, so bunch of buys were opened, and suddently around 400 pips flash crash.
Don't know if SLs were respected either and as minimum huge slippages were experienced.

https://www.forexfactory.com/attachm...6?d=1720702755

I was re-reading your first post
On May/2024 there were 2 decent pullback of 187&115 pips respectly. Were those not enough to close the losing trades?
Now GBPUSD is trending nicely.
Hope you don't have any sells opened as you mentioned you like to keep some of these losing orders opened for a bit with the hope of price returning to your fair value and close them at BE or with less losses.
cheers
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  • #31
  • Jul 12, 2024 7:33am Jul 12, 2024 7:33am
Quoting Merka
@Reverso Is your improved strategy able to manage decently this type of situations (this happened yesterday)? Price was stedially moving upward, so bunch of buys were opened, and suddently around 400 pips flash crash. Don't know if SLs were respected either and as minimum huge slippages were experienced. {image}
Yes, the move leading up just before the crash i would have already accumulated healthy balance of buys and sell, remember all my trades have SL in place and also trailing, so when the flash crash happens, the buys that are supposed to lose will definitely hit SL, while those sells will be teleported along by the flash crash to enjoy massive profit.

Even if my trade mix is not balanced, buys more than sells, i would still be in massive profit just because the crash move is too big, the sells get way more profit than the loss that are closed much earlier due to hitting SL.

Lastly, assuming the flash crash cause massive slippages to ignore the buy SL, it just means I'm almost breakeven or even slightly in profit because my sells are also profit from the crash.

Hence to me why it is important to have trades on both sides instead of picking a side, i no longer have to worry about the direction and profit wherever the market goes, stress free trading.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 63.6%
  • #32
  • Jul 12, 2024 7:42am Jul 12, 2024 7:42am
Quoting Merka
@Reverso I was re-reading your first post On May/2024 there were 2 decent pullback of 187&115 pips respectly. Were those not enough to close the losing trades? Now GBPUSD is trending nicely. Hope you don't have any sells opened as you mentioned you like to keep some of these losing orders opened for a bit with the hope of price returning to your fair value and close them at BE or with less losses. cheers {image}
Currently my EA is turned off while waiting on the improved version, latest by next Wed, thanks for your concern. From time to time while waiting, i would eye ball the charts and see how will my improved version do, i can only say why didn't i think of this new feature sooner
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 63.6%
  • #33
  • Last Post: Jul 18, 2024 6:43am Jul 18, 2024 6:43am
Hola @Reverso

Any good new from backtesting?
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