Hi all!
So I’ve tested many many many bots some are half decent ( while the last) and most are consistently wrong blowing my demo account. I had a lightbulb moment as I’m sure most people have when I thought to my self let’s just do the opposite of what my ea is telling me surely if the bots consistently wrong we are on a winner here.
So my question … is there a way to automate what ever my EA is placing on one MT to a seperate MT with opposite trades?
Thanks!
Hi @dariusss11 Welcome to BP… Still won’t work… I develop and generate my own code for Bot’s.
Some strategies I will test with a Reverse Parameter… ie: As an example… If X HasCrossedAbove Z open a Buy position or when Reverse is changed to True (Yes) When X HasCrossedAbove Y open a Sell position…
The algorithm’s that move prices in the retail markets are absolutely diabolical… Out of say 10 automated trades you will lose ~6 win ~4 no matter what the trade direction in your Bot…
That is why most experienced traders will stress the Risk/Reward Ratio (RR) of a position… 100 pip TP with a say 50 pip SL… Do the math… You should still be profitable winning only 4 out of 10 trades…
10 Trades - 4 x 100 pips = 400 pips… 6 x -50 pips = -300 pips… Net 100 pips, it’s that simple…
I use EA’s in a Hybrid capacity only… Manage a position once it is open… Close a position when a certain criteria is met or just simply signal me (Sound/Email/Text) when a favourable condition is met on the longer timeframes… I very, very, very rarely let them manage the complete strategy…
Hope this is of some help. Good Luck…
Hi thanks for the quick response!!
Do you mean like a MA sort of strategy?
This is called False Positive or Fallacy Logic. Even you opposite the EA direction, you will be still losing.
I tried to do a lot in past. EA works on certain algorithm, so even if you make Buy => Sell and Sell => Buy. You will see the same number of losses as EA will still work on it algorithm and it will decide when to close the trade, Take new trade, set Trailing, TP and SL.
You can do this via Copy trade FXBlue Copier Free EA or trade-copier.com (Paid) Cloud-based copying
To make the EA profitable, you need to work on building on own Trading Strategy (maybe inspired from existing strategy) and hire freelancer and get it coded into EA.
@dariusss11 Many different Strategies… I only supplied the above as an example…
Even if say you were using an oscillator like the RSI, DPO, Vortex or the CCI… The win/loss percentages… They don’t change very much…
Have a look at less common Indicators like the SSL (MA Based) or the Didi Index, UT… etc.
Hi all, @dariusss11 if you use multiple EA’s, you have to change magic number for each EA , then you can filter transactions by this number. @Trendswithbenefits if you use one type of strategy like trend following, you will achieve same final results, in this case, winning percentage, no matter what indicator you are use. Regards Greg
@ProfesorPips I don’t disagree… But the RSI, CCI Indicators are more strength, momentum analysis… None of these can be really classed as Trend following…
It is depend on how you will use these indicators 