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Former MANAGED Account (By Wayne )

Gain : +41.61%
Drawdown 12.33%
Pips: 1097.9
Trades 571
Won:
Lost:
Type: Real
Leverage: 1:50
Trading: Automated

Former MANAGED Account Discussion

Wayne (SunnyDays)
May 29 2011 at 06:41
152 posts
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
A strategy must significantly profit in a 10 year backtest to have a chance in Live trading - Mine Does!
atrader
May 30 2011 at 02:12
32 posts
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,
primevalea
Jun 10 2011 at 03:23
449 posts
🙄 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,
Money makes more money $ ... $$$
jprize
Jun 10 2011 at 22:16
93 posts

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😎
primevalea
Jun 14 2011 at 03:31
449 posts
🙄# Updated:Jun 02 at 09:44
🙄# Today:Jun 13

Any News Wayne?
Money makes more money $ ... $$$
Wayne (SunnyDays)
Jun 14 2011 at 18:13
152 posts

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
A strategy must significantly profit in a 10 year backtest to have a chance in Live trading - Mine Does!
primevalea
Jun 20 2011 at 07:27
449 posts
'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 😁.
Money makes more money $ ... $$$
Wayne (SunnyDays)
Jun 21 2011 at 07:55
152 posts
Hello Everyone,

I have started trading on this account as of June 21, 2011 using my EA - YenMaster - 100% automated.

https://www.myfxbook.com/community/trading-systems/yen-master-100-automated-fin/134122,1

This is just a real money micro account I opened 6 months ago, put $450 in, did some manual trades (too large) playing around, lost a couple hundred dollars, and took the money out.

NOW I have put $150 in (to start with), and as my EA has been going through extensive development, I feel okay with running this account 100% automated, never to be touched under any conditions. This will give me a reference point for my EA's performance and help me in future development.

It is a long story of what has been going on with me, but the point is I am extremely optimistic and excited about the developments I have been making with my EA. Times of hardship often bring renewed focus and sometimes we take something to a new level. This is what I am doing with my EA. I have been studying visual backtest and developing features at an incredible pace. I believe I see the truth of what this EA can be - something that runs on its own, is very complex, and responds to changing market conditions (holding out for higher profit targets with the market is moving fast, etc.)

This truth is I thought I was ready to manage people's money but I am not quite there yet. I think in about 3 weeks time I will have a much improved EA that will be very dynamic and capable of handling whatever the market wants to through at it. I have a couple major features on the list still to implement.

I am by no means done developing. I reluctantly started running the EA when I have not yet done the stop loss modification work I need to do, or the equity percentage calculation and trade size adjustment work I need to do. I think things are good enough to start running though so here we go…

I will update my other accounts in the near future as I reconfigure things and move my manual trading into other accounts, never to be mixed with EA trades again (unless indicated). My current (formerly) managed accounts should be seen for what they really are: records of the development of my EA in conjunction with manual trades and me battling with the role that manual trading should play in my trading overall. I think I working this issue out.

Best wishes to all my friends.
If I have not responded to those who have wrote me please know that I am so busy and so tired, I just don't have time for everything.

Wayne
A strategy must significantly profit in a 10 year backtest to have a chance in Live trading - Mine Does!
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