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Well, I traded less this week, so that's a positive. But still trading badly. Main offenses:
-Stop too tight when PA going in my favor
-Stop too loose when PA against me
-Not reading the markets well-enough, insisting on a certain level being hit before pulling out.
Been trading 18 years , started coding around 5 years ago . Definitely took a couple years to get a handle on that , first decent indicator/filter probably took 18 months , now pump em out pretty regularly . First algo took at least couple years and now i can write an algo in a few hours . I do screeners as well now . Long road but well worth it imo . You need a lot of passion though as many times you will feel like giving up .
You got me looking at various automated strategies. I had an idea for one and went seeking if anyone has made something similar. Looks like they have. I rented it for the month and put it on a demo on a VPS. It basically looks to place trades for price moving past round numbers with momentum and breaks of daily high and lows from the previous 2 days.
I've backtested EAs before and find their results are never the same as forward testing. But im curious how it performs going forward. Be really cool if it does well enough to put on a small live account to see how it performs on a live feed.
Back test results attached. They are most likely too good to be true.
75000 5m bars isnt a bad sample and the curve looks smooth enough although a lot faster recently . Live testing the true marker , Watch with interest . You do realise that this bot has dynamic position sizing , explains the J curve
Good luck to all you guys doing the EU mini comp , i am going to take a break from Futuresio for a while so wont be participating anymore for now , cheers guys
Trying something new this month. Trading M6E with the relatively low monetary risk goves the freedom to try out different ideas live, even as I'm still formulating them. The new approach, if it works, will let me capture more price movement with less screen time. It sounds like a pipe dream, but I'm trying it (it works with swing trading, so it is sort of a swing-inspired day trading approach). The basic premise is to check the charts before I go to sleep and in the middle of the night, set my brackets whenever key inflection points appear to be forming, and walk away. Targets and stops can vary but I'd like to get to a point where even just a few good runners or target-less (hold to close) make the month.
Today was not a great example. I thought a retrace back up to 1.2070 was possible. But with 1.2055 broken down, trading long back into it was not a great play. The stop-and-reverse would have worked.
Being selective, methodical, will be important with this method as with any. I will use this month of January as a practice run to flesh this out and if it holds muster, continue using it into Feb with more of a foundation.