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Today was an excellent day to observe the strategy in action. The profits from yesterday were completely wiped out, then regained, and wiped out again... and then some. This is good for a number of reasons, most importantly because it showed me the potential of what I can expect. I will stop trading the current configuration for this week, and do as I did after last week's debacle. I will slightly rework a few things that will prevent a "today" from happening in the future. Steps to be implemented for next weeks run.
1. Divide single orders into smaller multiple units. This will avoid reaching the "MAX ALLOWED CONTRACT" limit with the broker. The way the EA is set-up now allows for 4 entry attempts. The fact that the set-up fails 4 times in a row is a rarity... but obviously not rare enough as it occurred twice today. Coincidently, both scenarios were cleared on the 5th attempts. I'll see to it that the failure of the set up can go as high as 7 to 8 failures in a row. This would be one of the "not likely to happen" situations I'm attempting to exploit with this methodology.
2. I will allow a 2 way (buy/sell) function which should limit draw downs, and pull more coin out of the price action. In other words, the EA will place orders independent of any other orders being open.
The results of next week's implementation will dictate any future changes. If for some reason the market goes bat shit crazy, I already have an alternate approach ready to go. But first things first...
Personally, when I usually create different iterations of the same program, I also create a new demo account to trade the various iterations. This is because I don't want an outlier or singular event to change my logic. But I guess if this is the very beginning of a feasibility run, and there are some glaring problems, that's when I go in and fix them.
I usually don't try to optimize an EA until I get a good few months of data recorded through various market conditions.
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Life is a Gamble. You win some. You lose some. And life goes on.
But I guess if this is the very beginning of a feasibility run, and there are some glaring problems, that's when I go in and fix them.
That's the quote of the day, Kenny. My problem seems to be that the EA is set-up to stack positions sizes well into account oblivion. You and I both know that's a "no-no".
After spending a good portion of the weekend crunching numbers and reworking code, I came back to what I had learned many times before. Trading requires a "feel", a "feel" cannot be programmed. After hours of observing visual back tests, I noticed that the EA would make money on all of the "not so obvious" scenarios. On the other hand, it would fail miserably on the "obvious" scenarios. Ironic, and frustrating.
Long story short, I will continue on with trading the new model manually. I promised myself that I would no longer day trade, due to my inability to quell the beast. However, perhaps there is a reason that I'm forced to pursue it once again. Perhaps this is the big man's way of saying... "come on you spineless turd!!! Grow some balls and gitter dun!!!.
Pretty good day... never over reacted or lost my cool. It was rather refreshing to take pips in a calm-like manner. Taking losses did not create anger; like it used to back in the day. We'll see how well the psychology sticks tomorrow.
well, at the end it is you who take the decision and trade in the market. But we don’t need just feelings as you say, we need have in mind how indicators work, how can we read it and we must not leave news which could affect the market. Supporting decisions will be useful, so the point will be understand and have a strategy. I’ll start reading and practicing some info on my demo. Adelin
besides checking some info it is really useful keep trading. Every info that you think you’ve learned you should test it on your platform. Usually it gives us more doubts and trying to understand those is a good way to learn and become a good trader. Scope
I had to take some time off. My manual demo ended up in the can, and some of my old day trading demons came back to haunt me. This, in turn, affected my live (swing) trading account, and it was all down hill from there. However, I came to realize a few things in the process.
In the meantime, I have concluded that this "model test" is a bunch of nonsense. The answers I seek are in the mind, and not so much the numbers.
Good to be back and, Happy New Year to all. This concludes my experiment.
Linear Mode
