Ive been writing software for almost 30 years and have spent many many hours trying to find the holy grail in forex… Took a break for about 7 years, now back working on some stuff…I have some strong opinions about forex… So my bots have these assumptions.
- Forex is more like gambling than we want to admit. Therefore, past performance is a weak indicator.
- Indicators suck… Use as little as possible.
- More trades is better, its like Vegas, its balances the risk.
- Martingales are cool… but they WILL blow up your account… Even with small lot sizes… Learned my lessons there… I avoid them…
- Shortest time in market is best. If it aint working, get out soon.
- Baskets are cool, Statistical analysis… with Huge weight on the most recent activity is the key.
- MT4 great for trading… sucks for back testing… Write back testers from Scratch using real variable spread tick data… More threads the better…
- One reason that I got back on the forex train recently is that from Jan to today… In 6 months… we have the most chaotic market ever. If the strategy will survive all of these months, it might be a winner.
- small consistent profits win out over doubling your account every month. If you could double your account every month, you could be a billionaire in a couple of years… Ever met a person that made billion in forex?
- Ive never known anyone with a winning automation to share it. If you share it, it will die. That seems to be the sad truth… Best to keep it close to your chest…
Starting to build a club of sorts of like minded people advanced software guys.