Hey Froggy! Thanks for the post.
I like the sound of your system! 4H charts and you are still getting 26 trades a week. Love it! If you keep the lot sizes the same but make your TP smaller…do you think you would get more trades that way (i.e. more trades at a lower risk and quicker TP vs. fewer trades - not that 26 per week is bad - with a larger TP)? Then again, a 4H timeframe should definitely see 20-50 pip movement. I used to trade stocks using the dual Bollinger Bands (20-1, and 20-2). It’s a good system. Demo is a bit different than live. In my findings with the current system, live did better than demo.
The big thing with these sorts of system is the draw down…and many people can’t get passed that. I think of draw down as inventory. Sure, that position is pulling my equity down at the moment…but so would inventory in a store. Just like shoes on the shelf, the money to put those shoes on the shelf will eventually work for you. Same goes for open positions. and, on occasion, just like shoes, you have to let them go and take a small hit in order to free up room on the shelf. $10k in draw down would be a bit hard for me to manage at this point…but as long as you have margin to cover then you’re rockin and rollin!
So, with your system, do you base lot sizes off of you account total? How do you ensure risk is the same as the account grows? How does the draw down amount compare to your profit? For me, I see black when I get to the next level for me to raise lots again. Soon enough… I’ll stop raising lots and let the profit continue to roll while the open position draw down levels off.
Thanks for sharing the EA info! I’ll definitely download it and play with it on a shorter time frame.
Good luck and keep me/us posted on how it goes!
~knotthead