G’day bro. Been into posting pictures tonight. heres one.
All seriousness, na that’s boring. Hope all been well. Don’t know if “possible” can be used right now. I think what we have demonstrated is that its probable. I still think that the only certainty lays on the daily or weekly charts. Until we gather some data forward testing to compare with our back tests I think it’s still to early to make a call. Remember the purpose of historical testing is to develop our manual systems.
Also I am having a tough time finding valid parameters on AUSUSD USDCAD and EURGBP. I’m starting to think volatility has a big part to play. It’s hard to spot on the back tests but a keen eye would notice that during periods of draw down the average lot size increased. This would be due solely because ATR is usded to determine SL and ATR is a measure of volatility. On my other bot for the 4 HR where I use a fixed SL n TP, XXXJPY pairs yields are a lot stronger. Work, work, work!
Well Mike, getting close to the end of the first week and it’s always nice to start off strong
Interesting to note how we have touched on MM. Yesterday just after New York open our equity was sitting at $11 450 compared to $10 900 of now. Would a trader smarter then me - and that’s not hard - have closed shop for the week. Adrian is an investor. He’s looking long term. We however are speculating and there is a big difference. We have to lock in profits. All that back testing means nothing if we can’t manage our basket.
Pyramiding is a successful strategy used by investors (and the turtles). IMO but there’s not much use for it speculating. It leaves us over-exposed. A new high on a candle on a higher time frame is nothing more than a DC break on a lower. And from what I understand this is what you do anyway trading multiple time frames. I don’t think there’s any advantage adding to a position on the current time frame being speculated on. With that said I do like your line of thought and am interested in results if you decide to take it further. We could differently try to add it into a bot.
Fixing of position size, I think is a personal choice. I like % balance over equity. Equity includes unrealized profits. Key word - unrealized. Also remember the turtles traded a notional balance reviewed yearly or against draw down. This in fact might be the best option for us. Back to MM again. More work ahead. Just as well we love it.