G’day lads. I have set up a demo account running two bots and linked into myfxbook for all to see.
First of all the all import link Turtle Traders System by forexbob70 | Myfxbook
Now about the bots. First bot trades the 1 hr chart with a time filter. Logic is if no trades exists, open a buystop and sellstop at the upper and lower donchain break channel. SL is set a a multiple of the ATR. No TP. Orders are then cancelled, recalculated and refilled every hour (during trading) until one order gets filled. OCO. Trade management is by a stepped TS. First the TS trails immediately at the ATR multiple from the breakout DC. Second it then locks in BE at open price until the trailing DC level passes this point. The stop then trails at this level until it is hit, the order closed and it starts all over again.
2nd bot trades the 4 hr chart. Works the same trade logic but uses fib levels to define inside channel levels instead of ATR. I’ve simplified it from the one mention in an earlier post about this strategy. It has a fixed TP but now has a active TS set at these inside channel levels.
Risk is % Account Balance. For ego but also because of back testing I’ve set for 1% to keep a constant. Personally I’m expecting draw down to be 30 to 35% at this level and could easily last for 4 to 6 mths. As more pairs get added this %risk is expected to be reduced.
Settings for DC levels, trading times, ATR etc are the results of extensive back testing over the past 10 years. They’ll be a reflection of my skill as a tester. Which probably is not very good :). The past is no guarantee of the future. Time will determine the results. Initially we’ll trade the EURUSD, GBPUSD and USDJPY. I’ll add more pairs over time.
So maybe in a years time will be discussing a 200% growth in the demo account. Maybe in 6 weeks we’ll be thankful that it wasn’t a real account. Who knows? Who cares! The journey will be fun.
As normal I will make these bot available but this time I’m not giving them away. You’ll have to PM me. And don’t be disappointed if you don’t get a response. If you have contributed to this thread or the forum in general I will be happy to share. If not better piece together a good argument.