Discusión Former MANAGED Account

Hello Friends,

I have been silent for a few weeks as I am been deeply involved in extensive backtesting and development - going through my many EA features, one at a time (I still have a ways to go), reviewing my strategy, optimal settings, etc. Obviously the performance of the last two months is unacceptable. This is why I have declined to take on any new clients (for a short time), until I progress in the development of some new features I believe will turn things around and produce more consistent profit.

I believe I understand the challenges my EA faces better than ever before, and I am working out highly creative solutions I never envisioned just a couple months ago.

Most people would be amazed at the amount of time and energy I put into things like studying visual backtesting - watching my system trade - and analyzing the reasons for losses, and finally creating features to hopefully stop the losses and produce higher probability trades. This project goes on 7 days a week for me. I have several important features left to implement and I am highly optimistic of what will result from this work. I have never been more optimistic for the future than I am now.

Some issues have been related to my settings, like the 6% loss recently that was from 2 trades that would have been profitable but got stopped out by 10 and 15 pips. After doing extensive backtesting regarding my stops (with the aid of my new fast quad core computer), I found out that my stops have been too tight all along. I can get a lot more detailed work done now with my new computer.

In short, I have been producing 1-2 new features for my EA per week for the last 2 years (and developing my EA for 3 years), so my EA is a monster EA (30 k lines of code) that some very skilled programmers have given up trying to work on. They don't even want to talk to me any more… lol..

Luckily, I have one coder who is incredible and can make almost any concept I throw at him happen. What a ideal relationship I have with this skilled artist.

Unfortunately, most of the features I create fail in backtesting (never make it to live trading), and I go on to my next idea. But every once in a while backtesting says GREAT JOB! - this idea helps - and all my work seems worth it them.

So all I can say is stay tuned and in the very near future I believe things will turn around in a more consistent manner.

Deeper and deeper into the rabbit hole I go (for us Matrix fans), working to conquer the beast of forex.

Thanks for reading friends
Wayne

Hi,

I think you're complicating yourself too much, your system has to be simple, you'll never find the optimum solution as that doesn't exist because Market changes all the time and you never know exactly what it will do next, besides whatever you change and work better now, can be worse later and so on.

Regards,

🙄 Equity:(95.72%)
🙄 # Updated:Jun 02 at 09:44

Well I hope you're ok Wayne the same you wished for my FinFX account earlier, trading is hard as you know.

Fortunately all my accounts are alive & kicking and making progress.

Regards,

primevalea posted:
    

Well I hope you're ok Wayne the same you wished for my FinFX account earlier, trading is hard as you know.


Regards,

Trading is easy.....Trading profitably.......that's hard😎

🙄# Updated:Jun 02 at 09:44
🙄# Today:Jun 13

Any News Wayne?

Hi Friends,

Sorry I've been on radio silence for awhile. Life if tough some times in this forex world.

Several weeks ago I asked those who were invested with me to pull their funds as I felt my EA needed further development in order to profit in the forex market. I thought I was ready to manage accounts but I decided that I actually didn't have all the tools I need, and I didn't want to risk anyone's money.

After all funds were pulled I increased my risk size and as bad timing would have it I took a couple of losses for about 10% of the accounts. I then entered some manual trades and I've been stuck in the long on Euro Yen, hedging in and out, for a week. I've worn myself out and frankly this is no way to live. Hopefully this experience will help me get more organized and do the things I need to.

To be successful in forex I must do 2 things. 1) I must improve my EA so it can trade completely on its own, with no baby-sitting. 2) I must move some money to a separate account to manual trade with and get into the habit of keeping EA and manual trades separate. I believe I'm pulled into manual trades - in particularly bad spots and in bad timing - because my EA has not reached its mature development.

I am making big and, I believe, important changes to my EA, culminating 3 years of work, and I believe this will significantly improve my situation over all.

So when Items 1 and 2 are successfully implemented I will again track my trades, and this time you will see only my EA where indicated - not EA and manual trades together. I haven't given up. I just realize it will take longer than I thought to make a success of this.

I am very optimistic about the results my EA can produce when my current list of work is done, but things are moving excruciatingly slow as my programmer is struggling with some of the extremely complicated work I am asking him to implement. Someone had made the comment to me that I need a simple approach to trading with my EA. I respectfully disagree. I think the reason most EAs don't work is because they are simple and there is nothing simple about the forex market. An EA needs to be complex in that it must be able to change strategies, profit targets, stop losses, etc. as market conditions may quickly change (usually as a result of fundamental news). This is some of the complexity I'm trying to add to my EA. I'm also changing the way entries take place and stop losses are set.

I hope to have good news some time in the next couple weeks.

Good luck to everyone
Wayne

'Never give up...Focus on what works best for you and you will succeed!' -> this is what I do and results speak by themselves 😄

Others think scalping is dead and/or Primeval is unprofitable but here I'm to proof everyone is wrong and they'll just watch how I increase my accounts more and more for months and even years now 😁.