New EA - Your comments & critique please - page 2
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simsam7, have you test your EA with different broker or just on one?
I've been sick in bed... haven't done anything... you??
I just got new account with IBFX but to my surprise the result looks quite different to the one with FXCM. Even the spread is almost the same. But the results are like 50% different..
Why is this a surprise?
The data feed is quite different
Please go to http://www.forexfactory.com/forumdisplay.php?f=74 to discuss brokers :)
Good Luck
-BB-
I noticed your win percent for the short trades is spectacular (94%) and the long trade is very good (67%) but not as good as the short trades.
Have you tried to using separate TP & SL settings for the long trades? That is one way of fine tuning an EA. We tend to think things are symmetrical, but when you closely analyze the data there are clearly differences.
Nevertheless, it looks pretty solid.
Also, if the EA were in my shop I would use a consistent money management strategy in which the size of the trade is always a fixed percentage of the account balance such as 1/20 (or 5%) of the account balance for every trade. That way if you lose a trade, the next trade is slightly smaller, but if the last trade was a winner the next trade is slightly bigger. With the kind of win/loss percentages you are achieving this kind of MM yields a very conservative approach when things are going bad, and when things are going good you are growing exponentially. For example if you used 1/20 of the account balance for each trade, it would take 30 consecutive losses to drop your account balance to 50% of its high value --- the chance of 30 consecutive losses occurring when your win/loss percentage is worst case 67/33 is virtually zilch in your lifetime statistically speaking (even when the SL=45 pips). However, if you use a more aggressive percent of your account balance (say 1/10) those odds change quite a bit.
Cheers & Happy Trading
I noticed your win percent for the short trades is spectacular (94%) and the long trade is very good (67%) but not as good as the short trades.
Have you tried to using separate TP & SL settings for the long trades? That is one way of fine tuning an EA. We tend to think things are symmetrical, but when you closely analyze the data there are clearly differences.
Nevertheless, it looks pretty solid.
Also, if the EA were in my shop I would use a consistent money management strategy in which the size of the trade is always a fixed percentage of the account balance such as 1/20 (or 5%) of the account balance for every trade. That way if you lose a trade, the next trade is slightly smaller, but if the last trade was a winner the next trade is slightly bigger. With the kind of win/loss percentages you are achieving this kind of MM yields a very conservative approach when things are going bad, and when things are going good you are growing exponentially. For example if you used 1/20 of the account balance for each trade, it would take 30 consecutive losses to drop your account balance to 50% of its high value --- the chance of 30 consecutive losses occurring when your win/loss percentage is worst case 67/33 is virtually zilch in your lifetime statistically speaking (even when the SL=45 pips). However, if you use a more aggressive percent of your account balance (say 1/10) those odds change quite a bit.
Cheers & Happy Trading
Thank you very much for the time & effort you had put in your reply. It is truly appreciated & advice I'm already acting upon.
Kind regards