I’ve been testing my fully automated forex trading bot for about 3 weeks now. The first few days was rough as the strategy needs to build momentum. Hence, the drawdown was high. After that initial storm, it is beginning to run more smoothly now. I just found out another parameter that I can use to further refine my bot’s algorithm and hopefully, minimize drawdown even during fresh starts.
First thoughts, scam or scammer. If I’m being honest.
What’s the scam? I wish I can place a link to my myfxbook portfolio but since I am new here, I can’t.
Since I cannot put a link in my posts/comments. I included my myfxbook username so people can still search for my account and view my bot’s demo trading information. It’s now up by 47% compared to yesterday’s 44%. I’ve made all information visible so people can take apart and analyze the performance.
Yo, that performance is hot! Now what? How long have you been trading this? Just since April?
Are you selling your bot?
Ran the bot first time April 20. I have it running on a VPS so it can run 24/7.
No. I am not selling the bot (and I don’t think I will in the near future). I am still trying to make improvements to it. I’m just looking for fellow forex traders to critique and analyze it so I can see the weaknesses that I may not be seeing.
I have made the demo account available for copy trading on CTrader Copy. Just search for my username TheSufiTrader or my bot name Rumi Bot. You’d be able to see more info about how the bot is performing. It opens an average of 336 trades daily. Not humanly possible with manual trading. It is currently profitable by +35,000 pips in less than a month with an initial opening lot size of 0.01 only. I am deliberately trading only the 3 pairs (AUDCAD, EURJPY and GBPUSD) to avoid a strong move by one currency to have a direct effect on more than 1 pair being traded. I have tried adding NZDCHF in a previous demo account but the results were not good, so I am sticking with just these 3 pairs for now.
Hey, bro I would love to know about the software please hit me up on IG (Oscar_Kalambay) or here
What do you want to know about it exactly? All the bot’s performance data can be seen on CTrader Copy. Just search for Rumi Bot or my username thesufitrader. I am running it on a demo account right now but I believe someone with a live account can copy it for free. It does require an initial equity of at least $5K.
It’s now up by +60% or a profit of +$3,000 after the end of the 3rd week of trading. So far the bot is performing well even if trading completely autonomous. I’m hoping to raise the needed minimum required equity of $5K so I can run it on a live account instead of a demo account. In the meantime, please feel free to copy trade it now if you want.
My Rumi Bot CTrader Copy profile looks insane! Almost 43K pips in profits in 3 weeks of fully automated trading. Feel free to copy it now while I am still running it on a demo account. https://ct.icmarkets.com/copy/strategy/7591
Hi is your Bot listed in
No it is not uploaded anywhere
That drawdown made me weak in the knees. I dont care about the return. You should start your demo again. Best of luck.
That happened only on the first day of running the bot, but it still survived that big run by at least one of the pairs I’m trading and still ended up profitable. On average, the drawdown is still acceptable based on the 3 weeks of running it, right?
Personally I would never accept drawdown of 40% in 3 weeks. That would be 40k on a 100k account. That’s why I asked can you start it again. Maybe it wont have that drawdown. What pair did that drawdown happen on? How much is it risking per trade? Why did it happen?
I tried to do an analysis of that day (April 21, 2020) but I can no longer see exactly what went wrong because the bot’s algorithm is designed to survive negative runs and still end up profitable. So when I backtracked on the data on CTrader, all is well.
I did see that the decline started right before 6pm (UTC+8).
I cross-referenced the day with forexfactory calendar and realized that GBP had a high-impact news that day which happened at 2PM (UTC+8). I do remember it was GBPUSD which had a big run against my open positions for that pair.
Going back to your comment on the drawdown, am I wrong to look at it on an average? Should I look at the worst drawdown and make strategic decisions based on it? The reason I trade these 3 pairs is that they do not share a common currency. This is to avoid getting wiped out when a currency makes a big move against me. This approach also allows me (I believe) to benefit from “shared margin”, because even if a single pair maybe going against me strongly, my other 2 pairs would (hopefully) be friendlier (profitable) to me at that time and allow my account’s equity to absorb the hit from that one errant currency until it reverses back to my favor again.
Thanks for the comments.