The automated trading championships 2007 has showcased many innovative ideas and talents, such as the "Better" system by Olexandr Topchylo, the "Wackena" system by William Boatright. Hence, the goal of Scout-Forex in finding profitable expert advisor trading systems.
Finding Profitable EA Systems (ground zero)
Here are the "experimental" steps I took towards developing my own EAs with an aim to enrol one of them in the automated trading championship 2008. Backtesting and method reviewing, forward testing, system optimisation, measuring system performance, as well as searching for other possible system improvement.
At present, the experimental phase is nearing an end, as I had some highs and lows. Meanwhile, I have to clear some of my own "misconception about expert advisor trading as I was misled by some of my own previous thoughts. I still agree that a true goal of EA trading is to make a living (steady income) by generating consistent daily/weekly profits. However, one should not deny own dream goal to grow a small trading account size to a massive one (despite the odds stacked against it ) and in the mean time, have some adventurous fun !
Finding Profitable EA Systems (#1)
William Boatright's Bogie EA was Scout-Forex's first clear choice due its stellar performance in the championship. The EA uses a daily "trend" indicator code to determine price direction. The EA hit a bump recently when the trend (i.e. EURUSD daily) was "exhausted". The developer has since responded by introducing a neural network indicator to filter signals and be more selective on order entry.
This core trading concept also strikes a resemblance with my day trading approach. I also believe in momentum trading that the current bullish or bearish trend will continue until next day. Hence, I use several program algorithms to filter out the odd-performing currency pairs and to select only strong technical setup.
Finding Profitable EA Systems (#2)
The ForexAutopilot EA was introduced by Andreas Kirchberger and developed by Marcus Leary. After some initial hiccups, Marcus has responded by replacing the original eight EAs with one ForexAutoPilot EA. The EA is designed to scrap for small profits during intraday movement (i.e EUR/USD M1) and aim for a 100% win record by not using a stop-loss mechanism.
Despite my initial concern over the system drawdown, I soon realised that one should not doubt the system's clear intention and well-defined objective. The new Forex AutoPilot EA should perform very well in a SIDEWAY market, as long as the market (in this case, EUR/USD) is not hitting a new high or a new low, and breaking out of its long established trading range.
8 comments:
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Body
Forex Club!
Is forex a scammers paradise?
Looking for Transparancy
I think the main problem with forex these days is its being sold as a get rich quick system. So many scammers have jumped onto it. We need more transparency and transparancy is only created by people like us and yourself posting on blogs and social networks ours and other peoples experiences.
There are to many are hiding out behind eMails,IM's,ect.
Nobody seems to be able talk on the phone to anyone?
I really feel sorry for the newbies getting into this, they are bombarded with all the get rich quick advertising, the its so simple advertising no wonder they go for it.
We all know this is simply not true, yes you need help but the right sort of help
A good trading system should be able to be coded into an EA but:
1) Every ssytem has losing periods.
2) Look at the drawdowns. Double it. Is it ok?
3) Be ready for that system to stop working one day.
4) Anyone who says they have a 100% winnng system is scamming you. RUN.
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Graet blog!
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