Am I asking for too much? | Forex Factory

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Am I asking for too much?

  • #1
  • First Post: Oct 11, 2007 5:57am Oct 11, 2007 5:57am
Is there any EA out there that trades well under any market condition and returns at least 6% or more a month on a consistent basis?

If anyone knows of such an EA that can back its claims with a years worth of forward testing, please let me know. If not , I think I'm going to have to put my 8 years of programming experience into action and make one my self.

I am a programmer who happens to have some trading experience. I can trade manually and make some profit but the problem is, I have to stay up all night to trade the London session (my time zone is GMT -5). And I know 6 months from now I won’t be able to do this due to other commitments in life. So I'm looking for some EA, if there is none, I'm going to try to digitize a part of my trading methodology into an algorithm.

P.S: I’ve already started working on the EA (and will start demo testing it soon), but I’d much prefer to pay someone else for having done all the heavy lifting and tested his/her EA for a significant period of time.
  • #2
  • Oct 11, 2007 6:02am Oct 11, 2007 6:02am
I think you are asking too much. Soooooo many people here seek what are seeking.
  • #3
  • Oct 11, 2007 6:02am Oct 11, 2007 6:02am
Quoting saaedb
Is there any EA out there that trades well under any market condition and returns at least 6% or more a month on a consistent basis?
Asking for too much? naaaah....
  • #4
  • Oct 11, 2007 6:10am Oct 11, 2007 6:10am
Interesting, I think I'm going to have to dive into this project. I've got a three whole weeks to my self. I'm sure I can come up with something nice. If I can't then it would be time well spent trying.
  • #5
  • Oct 11, 2007 6:16am Oct 11, 2007 6:16am
This is what I have so far, but this is just a test and its very crude. I'm just testing a few things. What I have in mind is to have the EA only trade two pairs with very strickt money management rules
Attached Image (click to enlarge)
Click to Enlarge Name: Demo.JPG Size: 134 KB
  • #6
  • Oct 11, 2007 6:50am Oct 11, 2007 6:50am
Go in with yourself while building EA..i remember what last years winner on EA trading championship said....You cannot make money with other peoples mind...

Good Luck
  • #7
  • Oct 11, 2007 7:02am Oct 11, 2007 7:02am
Quoting spiderforex
Go in with yourself while building EA..i remember what last years winner on EA trading championship said....You cannot make money with other peoples mind...

Good Luck

I understand not being able to be succesfull when trying to implement someone elses trading style, coz your trading style has got alot to do with your psychology. But if someone can create an EA that is profitable anyone and everyone using that EA should be able to make money off of it.

You can look at the PipBoxer EA, I think thats a very good EA, but its only good for you if you already have some cash to throw at it (the returns are slow). I'm interested in an EA that builds your account a bit faster then the PipBoxer.

Either way building this EA is keeping me busy and thats exactly what I need right now.
  • #8
  • Oct 11, 2007 3:31pm Oct 11, 2007 3:31pm
First trade of the trial version and we have a winning trade. Now three more things that I need to test.

1) What should I keep the RR, right now its 1:1.04 and I am thinking of jacking it up to 1:1.275

2) There are a total of three criteria if met the bot will open a trade, today it met one of those criteria and every thing worked nicely, now need to test the other two (wait on the marke to give me those setups) and test them in both directions.

3) While I've got the bot live to test all the three criteria for opening the positions are working correctly, I'm going to write some routines to manage the account money and to manage the open positions.
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  • #9
  • Oct 11, 2007 3:40pm Oct 11, 2007 3:40pm
Quoting saaedb
First trade of the trial version and we have a winning trade. Now three more things that I need to test.

1) What should I keep the RR, right now its 1:1.04 and I am thinking of jacking it up to 1:1.275

2) There are a total of three criteria if met the bot will open a trade, today it met one of those criteria and every thing worked nicely, now need to test the other two (wait on the marke to give me those setups) and test them in both directions.

3) While I've got the bot live to test all the three criteria for opening the positions are working correctly, I'm going to write some routines to manage the account money and to manage the open positions.
All the best to you in developing your ea......
  • #10
  • Oct 11, 2007 3:53pm Oct 11, 2007 3:53pm
Quoting angiegiles00
All the best to you in developing your ea......
Thanks for the good wishes. I really should have thought about building my own EA a little earlier but I was always short of time. Now that I have some time I can give 100% of my time to its development.

The goal is to build an EA that I can count on and that trades intra-day (it's NOT going to be a scalper), I'm not interesting in building an EA that will hold positions for days.

I hope the market gives me the three setups by tomorrow so I can verify certain things (the setups are intra day and one will get those signals almost everyday). I've decided to trade the EA on GBPUSD and EURUSD and spread the risk. Lets see what the next week holds for this EA.
  • #11
  • Oct 11, 2007 4:02pm Oct 11, 2007 4:02pm
For people interested in knowing what became of the statement that had the crude version of the bot running on multiple pairs, here's the updated statement current up until now.

I believe the trick is to trade the EA on one or two pairs only rather then spreading the risk on multiple pairs.
Attached Image (click to enlarge)
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  • #12
  • Oct 12, 2007 2:20am Oct 12, 2007 2:20am
Today's trade by the bot, it could end up being a loser, will have to wait and see... I'm just testing it right now to see when to where to put my SL and TP and when to move the SL etc.

For my personal manual trade, I entered at the same location but took my profit at 1.4173.
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  • #13
  • Last Post: Oct 12, 2007 8:23pm Oct 12, 2007 8:23pm
This is how the GBPUSD closed on Firday... The last trade it closed at a -5 pip loss. There was a bug in my premature closing conditions for Buy orders, thats why the GBPUSD buy order closed early, according to the correct logic it should have held onto the trade (it could have closed at a greater loss next week). I've fixed that bug, now to see how it works next week.

GBPUSD +30 +40 -5
and for EURUSD +5 -5 and an open Sell Order
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ddbot_gbpusd101207.jpg Size: 90 KB
Click to Enlarge Name: ddbot_eurusd101207.jpg Size: 97 KB
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