Does Automated Forex Trading EVER REALLY WORK?

That sounds to me like your Init function is calling something with OrderSend().

The only thing I really do in my Init is check Digits and set the value of my pip-to-digit conversion variable (JPY or not basically) After that, OnTick handles everything. Remember that your EA OnTick flow runs through one complete cycle every tick, so for example, my OnTick() function first checks for open orders. If it finds any, it passes control to a function that verifies the order is for the current symbol, and if it is, runs a series of checks to decide if it should do anything with that open order (modify it, close it, etc.)

If the OnTick() function doesn’t find any open orders, or if the order check function finds that the open orders are not for the current symbol, it passes control to a function that evaluates whether or not conditions are right to open a trade. If so, control is passed to the trading function that calls OrderSend(). If not, OnTick completes.

I think your Init might be somehow directly invoking your OrderSend function instead of having OnTick run a decision tree.

It does but most of your success depends on picking a reliable EA!

for me, as a trading systems engineer, the very first thing that i want to do is to calculate my TARGET PRICE.

and then you want to figure out what is your potential downside… ie, what is your maximum expected drawdown or perhaps where will you set your stoploss at?

and then i suppose that you would design some kind of risk management, which would determine how many lots to play and other issues…

these are the core elements of any trading system.

btw, in the beginning, maybe forget about fully automating the trading… but instead focus on using a programming language to calculate the target and downside and then put lines on your chart that show those values and see if you can trade it manually.

but keep in mind that everybody has their own method to skin a cat.

good morning.

I hope this reaches him, but it appears he’s inactive on this site.

fully automated.

target calculated automagically.

target = red line w/white tip.

breakeven = blue line

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position closed.

fully automated.

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position closed.

fully automated.

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Yes, you’re using an Add-onto position style of trading. This is what I call a “Shot-gun” style of trading. Make that money. :moneybag:

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thank you for your kind response.

i chose this style of trading because it is well known to be the most difficult trading style, in fact it is actually well known to be impossible to trade using this style.

i like to call it gridding.

btw, i have spent the previous seventeen years refining this trading bot and i have finally finally nailed this bad boy down.

it has always been my goal to produce a work that is capable of winning the nobel prize in economics.

good afternoon sir.

I like this EA. The support and resistance zones hold up well when corresponding with pivots. Didn’t even know there existed a Nobel Prize for Economics. (We learn everyday). As long as the EA constantly profits, I don’t see a reason why it wouldn’t win that prize. :trophy:

please allow me to clarify that i dont really care about that prize, but instead it was a goal that i set that my work should be so very fine and perfect that it would CAPABLE of winning the prize.

can you really comprehend what it is like to obsess over one very specific mathematical equation for seventeen years?

for this project, my work will always be handled strictly with a mclaren mentality… ever last nut and bolt will be machined by hand and will be the best of the best of the best.

btw, you impress me as a pleasant and kind person and it is absolutely my pleasure to make your acquaintance.

Ohhhh, so that’s a what that car is. I’ve seen it before on the road. Everything is hand-made? Wow! Perfection takes practice, repetition, and dedication. Thank you for the kind words. You have positive spirit too. I believe your brain works similar to Tesla’s and Einstein. I too obsess over perfecting something for weeks sometimes and will not halt until it’s achieved. That car is beast. :white_check_mark:

All trades are now closed.

TARGET = red line w/ white tip

:grin: :grin: :grin: :joy: You’re something else man. Like me, you’re not from this planet. Welcome to Earth. The lead singer is cute. :dizzy: The third song is a vibe!

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You’re an Anomaly bro. You were born to succeed at this craft. I truly dread Indicators. To me they just complicate things further. I’m in love with Japanese candlesticks since their introduction. None of my EA’s have indicators. Besides, I can program way more reliable indicators than the stock indicators. I only have an ounce of respect for Bollinger Bands, ATR, and Stochastics at least, but even those aren’t solid in my opinion. They should only be used as filtrations. :busts_in_silhouette:

You trade or code for crypto? Ever think of getting into the industry?


If you have not already heard of Benoit Mandlebrot (discoverer of fractal patterns) you would enjoy reading The (Mis)Behaviour Of Markets - a fractal view of risk, ruin and reward. It is a fascinating book that talks about black swan events and how they are far more common than the City’s rocket scientists that invent exotic “low risk investments instruments” should all have on their CVs if they don’t want to have to eat their own words within their lifetime.

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Thank you Mondeoman, I’ll check it out.