Hello fellow forexers, this is my first post on this site and I thought why not make it a topic. I'm relatively new to forex trading but I have a passion for programming. my plan is to create a system which will trade automatically on the following premise:
'The majority of trades are profitable.'
In this system, all trades aim for 10 pips gain with a stop loss of 10. basically this makes all trades equal and can either be success or failure. my plan is to program an alert which triggers the program to open positions based on the indications of 3 strong 5 minute trading systems.
the program will open a position when the last returned value of each system shows the same positive signal. the program then opens a position, aims for 10 pips, and closes.
as long as the signals remain positive, the system will continue to trade.
in order to help fine tune the efficiency of the system, a counter in the program will record the number of stop losses and take profits utilised, and will plot a graph of successes(positive y axis) vs. failures(negative y axis) over a certain amount of time. by examining the symbols chart, conditions which yield more profits and more losses can be determined.
a graph will also be plotted showing whether each of the 3 base systems were showing positive or negative signals for trading. something like this:
T T F T T F T
F T F F T T T
F F F T T F T
by examining the price charts versus this i can fine tune which base systems work best.
this is my first system under consideration and would like to ask for recommendations on strong 5 minute systems. i already plan on using imrans system as one, but would like advice on the other two. this system will also trade on multiple pairs, with modifications being made to system inputs to suit.
thanks for reading and i look forward to my forex journey.
'The majority of trades are profitable.'
In this system, all trades aim for 10 pips gain with a stop loss of 10. basically this makes all trades equal and can either be success or failure. my plan is to program an alert which triggers the program to open positions based on the indications of 3 strong 5 minute trading systems.
the program will open a position when the last returned value of each system shows the same positive signal. the program then opens a position, aims for 10 pips, and closes.
as long as the signals remain positive, the system will continue to trade.
in order to help fine tune the efficiency of the system, a counter in the program will record the number of stop losses and take profits utilised, and will plot a graph of successes(positive y axis) vs. failures(negative y axis) over a certain amount of time. by examining the symbols chart, conditions which yield more profits and more losses can be determined.
a graph will also be plotted showing whether each of the 3 base systems were showing positive or negative signals for trading. something like this:
T T F T T F T
F T F F T T T
F F F T T F T
by examining the price charts versus this i can fine tune which base systems work best.
this is my first system under consideration and would like to ask for recommendations on strong 5 minute systems. i already plan on using imrans system as one, but would like advice on the other two. this system will also trade on multiple pairs, with modifications being made to system inputs to suit.
thanks for reading and i look forward to my forex journey.
