Has anyone created a successful automated trading system? What is your advice?

JesonMile
119
JesonMile  
"automated trading" means different things to different people, here I mean a system that detects good trading situations and then places an order and closes later after some conditions are met.

It seems to be possible to create a profitable system, but so far I haven't had much luck. some big advantages I see in an automated system is that it can trade 24/7 and does not cause any emotion. ideally I would like to scalp on small timeframes (h1 or less), but h4 or d1 is probably easier, right?

what indicators have you had success with? are you using fixed sl and tp or more complicated closing conditions? did you write it completely yourself or use templates such as mt5 advisors? do you think many different indicators with certain weights are better than one or two or is it too complicated?

what kind of returns are you seeing and how consistent is your system?

can a breakout bot at market opening be successful?
Georgiy Merts
9539
Georgiy Merts  
JesonMile:

can a breakout bot when the market opens be successful?

It can. For a while.

No system can work forever. Any system has periods of profit and periods of loss, and periods of loss, all other things being equal, give a greater outflow of capital than an inflow during periods of profit.

[Deleted]  
Georgiy Merts:

Maybe. For a while.

No system can work forever. Any system has periods of profit and periods of loss, and periods of loss, all other things being equal, produce a greater outflow of capital than an inflow during periods of profit.

Said the man living on a pension. Capital outflows... where did you learn those words?
prostotrader
10733
prostotrader  
Georgiy Merts:

Maybe. For a while.

No system can work forever. Any system has periods of profit and periods of loss, and periods of loss, all other things being equal, give a greater outflow of capital than an inflow during periods of profit.

You don't have to assert what you don't know.

There are systems which are always profitable, but not FOREX, of course!

Marat Zeidaliyev
756
Marat Zeidaliyev  
JesonMile:
"automated trading" means different things to different people, here I mean a system that detects good trading situations and then places an order and closes later after some conditions are met.

It seems to be possible to create a profitable system, but so far I haven't had much luck. some big advantages I see in an automated system is that it can trade 24/7 and is unemotional. ideally I would like to scalp on small timeframes (h1 or less), but h4 or d1 is probably easier, right?

what indicators have you had success with? are you using fixed sl and tp or more complicated closing conditions? did you write it completely yourself or use templates such as mt5 advisors? do you think many different indicators with certain weights are better than one or two or is it too complicated?

what kind of returns are you seeing and how consistent is your system?

can a breakout bot at market opening be successful?


A breakout bot is always successful in essence, the expectation is high.

but it should be stable and without surprises.

you need the bot to trade on the breakout at certain levels

there are a lot of these levels on the chart

collect statistics and write a bot

Renat Akhtyamov
20865
Georgiy Merts:

Maybe. For a while.

No system can work forever. Any system has periods of profit and periods of loss, and periods of loss, all other things being equal, produce a greater outflow of capital than an inflow during periods of profit.

is an outflow of capital a drain?
Shoker
532
Shoker  
prostotrader:

There are systems that are always profitable, but not FOREX, of course!

Um... Factory?

prostotrader
10733
prostotrader  
Shoker:

Um... Factory?

Smart or what?

I don't care if it's the factory, as long as it's the owner.

Aleksandr Milyayev
168
Aleksandr Milyayev  
Georgiy Merts:

Maybe. For a while.

No system can work forever. Any system has periods of profit and periods of loss, and periods of loss, all other things being equal, produce a greater outflow of capital than an inflow during periods of profit.

It is important to have the right stop loss in the system.

Aleksandr Milyayev
168
Aleksandr Milyayev  
prostotrader:

You don't have to state what you don't know.

There are systems that are always profitable, but not FOREX, of course!

What difference does it make - forex or the stock market, metals. Any instrument can roll back very unexpectedly.

Georgiy Merts
9539
Georgiy Merts  
Renat Akhtyamov:
is capital outflow a drain?

If you stupidly continue to use it, you're screwed.

That's the trader's job, to keep changing systems, applying those that are profitable NOW. Because these systems also have periods of failure, and their total loss is greater than their total profit.