I was able to write my first EA that actually turned a profit in back testing. I am a price action trader so I don’t spend a whole lot of time looking at indicators, but that doesn’t mean that indicator rule based systems don’t work. I have tried to write a bunch of different rule based eaS that didn’t work very well. Last Friday it hit me about what would make a good EA, then on Sunday night I spent 2-3 hours programming it and testing it. The EA was back tested on the EURUSD from January 1st 2009 - January 1st 2013.
It’s pretty raw right now and here are a few things it’s still missing
It doesn’t open short positions
It trades a fixed lot size, I want it to trade a % of account so it can compound it’s winnings
The SL and TP are hard coded, I want the SL and TP levels to adjust dynamically to help winners run longer and losers get cut shorter.
I don’t plan on laying out all of the rules and code here but I am brand new to using MT4 other than writing MQL4 code, and doing any sort of demo testing. I would like to finish up the code so that it is working as good as possible and then run it on a demo and post the results on myfxbook. Right now it does about 3.25 trades per month, 50% win rate and each trade is a hard set 1:2 RR. I think finishing up the above 3 items will probable double the amount of trades it can take, and boost the RR and win rate. I figure if this is what I can come up with in 2 hours, some serious amount of time spent on it could really boost it’s success. The trades it takes are held for up to a couple days, so it doesn’t suffer the same issues as EA scalpers where and spread and slippage shouldn’t hugely affect the real results from the back test.
This could be traded by hand and probably with better results if done by an experienced trader, but I am very pleased with the results of it as an automated trader.
I added some code to make the money management dynamic based on the users desired risk, and the risk can also scale up/down as the account grows. I was able to achieve a 1500% increase in 48 months without going over 20% draw down.
I subscribe because I want to see how things unfold.
Krugman, maybe you can label the robot like M2M version 1.0, version 1.1, version 2.0, etc, so that we can see the kind of progress with the EA. What do you think?
I just realize that this forum may be in the wrong place. I mean, BP has ‘Expert Advisors and Automated Trading’ but Krugman puts this forum at ‘Free Forex Trading Systems’. Are you going to let it stay here, or move it to ‘Expert Advisors and Automated Trading’, Krugman?
PS: In your other thread, I read about 1500% return in 48 months. That means around 5.8% monthly return compounded for the next 48 months to be exact.
I’m a bit skeptical when it comes to EA, but I’ll keep an eye on Krugman’s robot just because I have faith on his reputation. Please don’t let us down, Krugman.
I want to confess that I once designed an EA myself, but I no longer did it after focusing entirely on PA. Maybe I can learn another practical thing or two about EA from Krugman, as I know he is also a professional software engineer.
