Discussion of article "Dimitar Manov: "I fear only extraordinary situations in the Championship" (ATC 2010)"
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New article Dimitar Manov: "I fear only extraordinary situations in the Championship" (ATC 2010) is published:
In the recent review by Boris Odintsov the Expert Advisor of the Bulgarian Participant Dimitar Manov appeared among the most stable and reliable EAs. We decided to interview this developer and try to find the secret of his success. In this interview Dimitar has told us what situation would be unfavorable for his robot, why he's not using indicators and whether he is expecting to win the competition.
Why don't you want to use indicators in your Expert Advisors? What are the signals for you EA then?
Indicators only show the history, and the price movement is not associated with historical movements. Where the price will move now is quite another thing that has nothing to do with what has been earlier. All that we know is today's price. Charts are also useless as a guide, and all that they show will then be corrected.
Adding the volume has an interesting property - it changes the total price of the position. That's what I use. My EA monitors the current price and the difference with the total price of a position in points: if the difference is large, it reduce it, if the EA goes into profits, it sets a trailing stop.
For different pairs I use different trailing stops, steps and have different targets. Unfortunately, I have mixed up something for two pairs and their trailing size is equal to the size of the minimal target. And if the correction happens at the wrong time, the position will be closed with a zero profit (0 +/- $20). That's a stupid mistake of course.
Why don't you use stop orders?
Stop orders contradict to the principle of buy cheaper and sell dearer. I replaced them with increase of volume. A position closes when the profit decreases by the specified value. In general, the set value determines the trailing stop, and when determining the parameters for each pair I was guided by margin. If 0.1-lot order takes more money, the minimal profit will be large. But there are also small deviations that result from my greed. Some pairs are slightly volatile, and the number of deals and trades for them will be small, and respectively profits also will be small. For other pairs, on the contrary, large drawdown is possible.
Author: Automated-Trading