When using third party application to backtest use a reasonable range for spread or else you are likely to get wrong backtest result. Also, make sure you get over 99% modelling quality when backtesting.
The setfiles attached are best set for live trading (note only long trades only).
If you have any question please do not hesitate to message me.
Here is set for EURAUD. Please be mindful of the risk, do not trade more 5 pairs at a time and keep the risk to minimal. The idea is to trade for long term.
Please use this updated setfile for Demo and Live trading for all pairs listed above. Please turn off Avoid trade to disable news for faster backtesting
If you are downloading or updating Silkway MT4 after 6 August 2018. The previous comments about set is not mandatory as the default parameters have been adjusted. So, the aforementioned set is not needed with the new update.
When backtesting using third-party application and data you can now use your default broker time and not the one mentioned above.
Major updates coming soon and signal for monitoring will be live from September 2018. Any question please do not hesitate to drop a PM. In the meantime, here is the set to use.
The new update has the improved algorithm and please note it won't trade on the last day of the month to mitigate risk. So if you haven't updated your copy please do so.
Always ascertain that total risk on all pairs after 2 consecutive losses on all pairs will not draw the equity down to more than 30%. - This is just a worst-case scenario such occurrence in highly unlikely but just to safeguard account for long-term equity growth. For example, trading 5 pairs risk average of 3% for each pair putting you to 15% in a day if all market technicalities and fundamentals fail and the market has vowed to rear its ugly head.
The impact of time change should not be much. For best performance for most brokers the trades should be opened at most 2 hours before the day closing i.e. from 22:00-23:58 by ICMarkets, Pepperstone, Alpari and other major brokers. If your positions are opened outside this trade window please message me.
As people ask why Silkyway is different from my other EA. Silkyway has a different entry and exit logic from other EAs that makes it drawdown extremely low with higher hit rate. For now it still trades:
GBPSGD / CHFSGD = SL 60pips
AUDSGD/EURSGD/GBPCHF = 45pips.
It works with other common pairs like GBPAUD, EURCHF, EURAUD,GBPCAD e.t.c. but I personally do not like their behavior on equity from my analysis. That is why I put them aside. I will rather focus on what works rather than what might/might not work when money is on the line.
Segun Oladipo: Major updates coming soon and signal for monitoring will be live from September 2018. Any question please do not hesitate to drop a PM. In the meantime, here is the set to use.
Hi Segun, this new set says Avoid trading on news = false. Should I put it as true?
When using third party application to backtest use a reasonable range for spread or else you are likely to get wrong backtest result. Also, make sure you get over 99% modelling quality when backtesting.
The setfiles attached are best set for live trading (note only long trades only).
If you have any question please do not hesitate to message me.
Have you also set for EURAUD please?
Here is set for EURAUD. Please be mindful of the risk, do not trade more 5 pairs at a time and keep the risk to minimal. The idea is to trade for long term.
Hi All,
Please use this updated setfile for Demo and Live trading for all pairs listed above. Please turn off Avoid trade to disable news for faster backtesting
Thanks.
If you are downloading or updating Silkway MT4 after 6 August 2018. The previous comments about set is not mandatory as the default parameters have been adjusted. So, the aforementioned set is not needed with the new update.
When backtesting using third-party application and data you can now use your default broker time and not the one mentioned above.
Thanks.
Silkyway update 2.0
Always ascertain that total risk on all pairs after 2 consecutive losses on all pairs will not draw the equity down to more than 30%. - This is just a worst-case scenario such occurrence in highly unlikely but just to safeguard account for long-term equity growth. For example, trading 5 pairs risk average of 3% for each pair putting you to 15% in a day if all market technicalities and fundamentals fail and the market has vowed to rear its ugly head.
The impact of time change should not be much. For best performance for most brokers the trades should be opened at most 2 hours before the day closing i.e. from 22:00-23:58 by ICMarkets, Pepperstone, Alpari and other major brokers. If your positions are opened outside this trade window please message me.
As people ask why Silkyway is different from my other EA. Silkyway has a different entry and exit logic from other EAs that makes it drawdown extremely low with higher hit rate. For now it still trades:
AUDSGD/EURSGD/GBPCHF = 45pips.
It works with other common pairs like GBPAUD, EURCHF, EURAUD,GBPCAD e.t.c. but I personally do not like their behavior on equity from my analysis. That is why I put them aside. I will rather focus on what works rather than what might/might not work when money is on the line.
Any question please message me.
Major updates coming soon and signal for monitoring will be live from September 2018. Any question please do not hesitate to drop a PM. In the meantime, here is the set to use.
Hi Segun, this new set says Avoid trading on news = false. Should I put it as true?
June 2022 Optimized.