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Opinion on system

SnapTradeFX (SnapTradeFX)
Aug 02 2011 at 17:43
posts 71
What do you guys think? (I'm not selling, just wondering what you think)

https://www.myfxbook.com/members/snaptradefx/l0001001-snaptradefx-v101/142165

I'm trying to trade on 9 pairs at once with mixed results, I feel deep down that a system shouldn't be adjusted to a current trend, pair, event or market, it should simply always work, on any pair with decent spread. Yes, perhaps it won't take maximum advantage of a trend, but it also won't run maximum risk...

Riding waves always leads to a fall
Gary Sharp myfxpt com
myfxpt
Aug 07 2011 at 05:22
posts 345
I agree with your thinking in general. An RSI is an RSI; a Moving Average is a Moving Average; regardless of which pair, timeframe, market being traded. The problem is that some pairs are more volatile than others and settings that work on one pair might perform miserably with another.

With that said, I trade 26 currency pairs regularly, including exotics, and on many occassions I might have 14 or more pairs in play at one time, using the same strategy. My choice of strategy is a combination of Ichimoku Kinko Hyo, Heiken Ashi, and MACD. I trade 1-hour and 4-hour timeframes, depending on the particular pair being traded, and its volatility, and I will check longer and shorter timeframes to confirm the general trend direction before making a commitment. I am currently achieving a 71% win/lose ratio, and my account is up 127% last week...too early to say if this will turn into a consistent weekly average!

Why shouldn't a strategy have universal application regardless of pair, market, etc? As long as it achieves consistent results with minimal risk, go for it.

SnapTradeFX (SnapTradeFX)
Aug 24 2011 at 17:02
posts 71
for reference, I switched from IBFX US to IBFX AUS, new link:

https://www.myfxbook.com/members/snaptradefx/l0001006-snaptradefx-v102/147432

Riding waves always leads to a fall
Steve Walker
walker36
Aug 24 2011 at 18:09
posts 1341
to comment first ı need some more detaıled ınformatıon about the logıc of system

SnapTradeFX (SnapTradeFX)
Aug 24 2011 at 18:28
posts 71
Sure, what would you like to know?

A few pointers:

-it trades 9 currency pairs (the ones I get the lowest spreads on)
-it has a fixed stoploss for each pair, ranging between 5 and 10 euro's, this is because I haven't implemented a form of money management yet
-it has only one entry method, which combines several indicators in one with tweaked parameters, as a result it might not trade daily
-backtests with 99% tick data have yielded about 30% returns per year per pair on a 1000$ account, including the stoplosses encountered

I'll start posting backtests from v103 or v104, too many changes still in the works now :)

Riding waves always leads to a fall
Steve Walker
walker36
Aug 24 2011 at 18:45
posts 1341
ıt seems ok accordıng to the ınformatıon above wıth %99 backtest quality and tight stop loss. due to secret logıc of order open or close whıch very normal to be hıdden, only ı can say time will tell about the future.

only you can as a creator make a comment/guess about the future trades or if its well optimized and/or this optimization will work for the future or needs ımprovemnts.

but if you ask my idea about that thread there are 3 possıbılıets whıch are
- you wold lıke to sell it or would lıke to run managed accounts.
   in the thread you have said it is not for sale but in your system page you have said you are managing your friends accounts?
- you are not sure about the system and you would lıke to get some confırmatıon from others that systemıs good an so on.
- you are really sure about your system and you would lıke to get some good comments about ıt and also you like to people know about you are doıng good.

hope you do well and make profit with it.

regards
walker



zzzero
Aug 25 2011 at 02:24
posts 1367
i fail to understand why anybody would ever go to the trouble of developing an EA and then distribute it.

this reminds me of forexanadova and he is now gone.

you do realize that one of the people, at a minimum, that get's his paws on your Ea, is gonna modify it and start marketing it himself.

people in this business of trading are dogs with lots of fleas, they have absolutely no ethics and can not be trusted.

your charts are working, good luck to you.

zero/.



zzzero
Aug 25 2011 at 03:28
posts 1367
position in progress.

balance: 540.04
profit: -2.21
marginused: 461
targetprofit: +15



SnapTradeFX (SnapTradeFX)
Aug 25 2011 at 07:17
posts 71
Hmm good points, you're right, I am afraid someone will take it apart/steal it. I guess the only way to avoid that is to manage accounts and never sell SnapTrade?

When I posted the first post I'll admit I wasn't entirely sure yet what I was going to do, now I'm fairly sure I don't want to sell it, but maybe a managed VPS kind of thing could be a safe solution for me, but then people would have to share their MT4 login's, perhaps not too popular an option, but perhaps indeed my only option.

But that's future talk, it has to survive a few more months first, I only half believe backtests :)


Riding waves always leads to a fall
Steve Walker
walker36
Aug 25 2011 at 08:21
posts 1341

SnapTradeFX posted:
    Hmm good points, you're right, I am afraid someone will take it apart/steal it. I guess the only way to avoid that is to manage accounts and never sell SnapTrade?

When I posted the first post I'll admit I wasn't entirely sure yet what I was going to do, now I'm fairly sure I don't want to sell it, but maybe a managed VPS kind of thing could be a safe solution for me, but then people would have to share their MT4 login's, perhaps not too popular an option, but perhaps indeed my only option.

But that's future talk, it has to survive a few more months first, I only half believe backtests :)




are you selling it or not

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