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Next step for system?

  • #1
  • First Post: Feb 20, 2011 9:56am Feb 20, 2011 9:56am
I've been tinkering with a system for about 2 yr,i've put alot of time into it for the past 4 mts,Forward testing it ,on average its returning 200pips a week with the best week being 456 pips and the worst being 76 pips.
The best weeks being in a ranging week and the worst being trending weeks.
I get about 2 trades a day on 1H charts,a bad day is a 30pip loss and a b/E a good day being 100 pip winner.
I'm very tempted to go live with this.
Opinions please.
  • #2
  • Feb 20, 2011 10:01am Feb 20, 2011 10:01am
all the well tweaked EA work at beginning then ...

because the rules changes with time, so dont forget optimization one time a week to get tuned.
  • #3
  • Feb 20, 2011 10:01am Feb 20, 2011 10:01am
Start with a small live account and forward test it. IMHO forwarding testing on demo isn't forward testing. Forward test for a minimum of 3 months before adding more money to your account and then only add money if you've achieved a positive return.
  • #4
  • Feb 20, 2011 10:44am Feb 20, 2011 10:44am
I personally do not like to demo-trade. Whenever I tested a system that looked profitable - I was using a live account and just traded microlots at 10 cents per pip. Way different for me as emotions need to be checked and MM applied.

With good MM what can you lose ?
Just go ahead !
  • #5
  • Feb 20, 2011 2:01pm Feb 20, 2011 2:01pm
where is this wonderful system?

Quoting arrowloopboy
I've been tinkering with a system for about 2 yr,i've put alot of time into it for the past 4 mts,Forward testing it ,on average its returning 200pips a week with the best week being 456 pips and the worst being 76 pips.
The best weeks being in a ranging week and the worst being trending weeks.
I get about 2 trades a day on 1H charts,a bad day is a 30pip loss and a b/E a good day being 100 pip winner.
I'm very tempted to go live with this.
Opinions please.
  • #6
  • Feb 20, 2011 8:27pm Feb 20, 2011 8:27pm
I agree with globalinvest. I would recommend going live with a small account. Small enough that even wiping it out wouldn't hurt much. With brokers like Oanda the limit to how low you can go is barely a few dollars or less.
  • #7
  • Feb 20, 2011 9:16pm Feb 20, 2011 9:16pm
Quoting karma1
I agree with globalinvest. I would recommend going live with a small account. Small enough that even wiping it out wouldn't hurt much. With brokers like Oanda the limit to how low you can go is barely a few dollars or less.
With Oanda offering MT4 soon (some lucky fews like me have already access to it), its a good solution. However the minimum lot size on their mt4 platform is 1000 units. That means you need 20$ to trade that mucht. Id advise opening up with something like 40$ if you want to play a single 1000 units position.
“Nothing great in the world has ever been accomplished without passion.”
  • #8
  • Feb 21, 2011 8:08am Feb 21, 2011 8:08am
Quoting Deevz
With Oanda offering MT4 soon (some lucky fews like me have already access to it), its a good solution. However the minimum lot size on their mt4 platform is 1000 units. That means you need 20$ to trade that mucht. Id advise opening up with something like 40$ if you want to play a single 1000 units position.
MT4 has been offered on Oanda as practice for about 20+ days...to everyone. It went live last week...to everyone.
  • #9
  • Feb 21, 2011 8:19am Feb 21, 2011 8:19am
Quoting MNFX
MT4 has been offered on Oanda as practice for about 20+ days...to everyone. It went live last week...to everyone.
My bad, I didnt know they offered live to everyone yet.
“Nothing great in the world has ever been accomplished without passion.”
  • #10
  • Feb 21, 2011 8:24am Feb 21, 2011 8:24am
Quoting arrowloopboy
I've been tinkering with a system for about 2 yr,i've put alot of time into it for the past 4 mts,Forward testing it ,on average its returning 200pips a week with the best week being 456 pips and the worst being 76 pips.
The best weeks being in a ranging week and the worst being trending weeks.
I get about 2 trades a day on 1H charts,a bad day is a 30pip loss and a b/E a good day being 100 pip winner.
I'm very tempted to go live with this.
Opinions please.
Go live as soon as you don't feel the need to open a thread like this. Start with what you're comfortable with. Decide on a cut off amount that if you lose you stop live trading and re assess. You know the next step better than anyone else can tell you
Time hides Nothing
  • #11
  • Last Post: Feb 21, 2011 9:04am Feb 21, 2011 9:04am
Place $1500 in your demo account and attempt to double that amount 2 or 3 times. Using a small amount of money ($1500) will reveal whether or not you are using proper money management techniques. I feel it is a good benchmark to have in your pocket for future reference.
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