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My demo accounts were deleted once again by MBTrading last week, and they are promising a much better demo environment in the future "with minimal interruptions". So I lost all of my trading records and data on my strategy. Start back at square 1 again on my testing. I'm demo trading on the 4 majors, with 10K account, I have my global take profit set at 300 and stop loss at 200. Hopefully, I can get a few months of forward testing this time.
In the downtime, I had more ideas on trading strategies. I'm going to be using momentum indicators to try to go with the flow. My problem with this strategy is that everyone and their grandma knows how to use momentum indicators. Hell, even MT4 uses a MACD EA to introduce newbies to programming and trading example. I was going to abandon the whole idea when I stumbled onto something I had worked on last year, and it was on an old account that I haven't even opened for months. I combined the 2 strategies, and I think I might have something of an edge.
I always speak a little too soon, so it might be nothing until I can test it.
demo accounts and lost data
I was thinking about how your demo account was deleted and you lost all your statistics.
Have you considered using a Trade copier EA,DLL, so your trades can be distributed to several demo accounts? The reason why I would look into this, is that you would have the ability to use several brokers all at the same time.
For example, from your mb mt4 demo, you can send the signal to several other mt4 platforms that you have. Even though you are looking for the trend while scalping, the execution from using a trade copier should not be more than a few seconds of delay. It's just a thought to speed up the overall analysis of the project you are working on..
As retail traders try to find decent brokers, trying our strategy on several platform simultaneously is the quickest way to get you in a real account .
I am using this method to set out a few EA's that I have in the works. hope the information helps. If you have any questions, feel free to ask. But I am assuming that you have heard of a Trader copier.![](https://c.mql5.com/forextsd/smiles/nerd.png)
Why does it seem like the trade is always an uphill battle. The winning trades will start as losers for a long time, and you bite your nails to try to get profitable. Yet the losers drop like a hot potato, hit your stop in a heartbeat! I always make the wrong move, hold on too long and lose paper profit, then just when you think you learn a lesson, the next trade you think "bird in the hand" get out with a little profit, and that one would have been a winner to pull you back even!
Someone mentioned Larry Williams, I read he was starting to "Coach" on Forex, but the market is a lot less predictable than commodities, and that's saying something.
On the plus side your system was up about 14%, and that's not too shabby. My wife and I ran a commodity account up about 40% using Larry Williams systems in a month. All of a sudden you think you got it licked, and little mistakes creep into the works, and we were down 20% in the next 2 weeks. We bailed out got scared, and here I am trying again 10 years later.
LOL. The backtest results were disasterous in the long term. It is a steady decline in the equity curve. Man, what kind of voodoo magic is going to turn this equity curve into a success? Maybe I should just reverse my entries, but that never works either. Crazy.
why is that, it would seem to me to make the most illogical system and to have it fail, turn around the criteria and it should be a winner, I know it never works, why?
Minime,
The #1 thing I learned from Larry Williams is to pay your taxes or have a really good tax attorney.![](https://c.mql5.com/forextsd/smiles/omg_smile.png)
Meow~!
LOL. Sorry, I've been saving that one for a long time, it had to come out. I did enjoy the story, keep them coming!I actually might be the reason LW got into so much trouble. I went to a commodity seminar on Orlando, over lunch (I think it was 1998) we spoke about the Montana FreeMen Standoff. We had a lengthy conversation about fiat currency, the Fed Reserve and the IRS. At the time I had a friend who i trusted who was very learned in sovereignty, and UCC 1-207 and the implied consent to pay taxes. I guess Larry took the information and ran with it!!!!
of individual sovereignty and re
in order to be profitable
I think you must need a method that give your win > lose -- 2 times more
or winning pip > losing pip by at least 20 pips
while it is hard to set SL more than 30 pips, but if we set SL higher, than TP will be higher (like more than 50 pips, but it is unlikely to achieve that)
i.e. less transaction and trade least amount , would become the only option -- or follow what EA does (after we see something so promising in historical chart, then live trading is about uncertainty -- we don't handle it well, esp closing is required )
I'm still alive and trading in private.
There are a lot of things going on in my life right now, and so little time to do them.
I have a full time job now, so my trading has been scaled back quite a bit. It's actually quite nice to draw a steady income (less stress), and have full coverage of health insurance. The long hours and commute do suck.
My wife is also expecting a baby, so I'm going to convert my "trading" room into the nursery. There is going to be a big mess.
If that wasn't enough, I've been doing some home improvement work around the house. My kitchen is in complete disarray because I'm actually putting up the wall tiles by myself...and I'm on week 3 of this project when I should have been done in 1 day. Who knew cutting glass tiles can be so tricky? And with triple digit temperatures outside, I'm dragging my feet on finishing this project. But it needs to be done because we've been racking up some crazy restaurant bills. I'm the handyman around the house, so I have a lot of things to fix.
I have a contractor come in next week to replace all of my home windows to energy efficient windows, and take advantage of the tax credit for weatherization of the home. So there goes a few thousand dollars out of my pocket. But I won't be doing that installation, so at least I know it'll get done quickly.
Other than that, I'm doing well, and the trading has been going along. I'm just so fragmented right now with all things going around me. When the baby is born, I'm going to be getting no sleep.
Well,
Since I've been given permission, I want to disclose that Igor has been trading one of my accounts, and it has been doing fantastic. I was skeptical at first as well because he has small TP and large (compared to TP) SL, but his scripts use some kind of stoploss (time-based???) adjustment so it hardly hits the full SL. Anyways, I decided to give it a try...and it has been a good consistent profits so far. I hope it will continue.
I still have 2 other accounts that I trade from. And because of the way Igor's strategy works, it has really opened my eyes to having a small TP target can still be profitable. I was inspired to create a variation of my new script idea where instead of going for my usual larger TP...I inserted the same small TP with larger SL instead. I'm still in the process of writing this code as I'm quite busy now with my job, and getting everything ready for the new addition to my family.
For fun, I'm going to name this variation script "Fear" since it wants to close for quick profit. My original script when I finish writing it with larger TP will be named "Greed". Obviously, I may not be as talented as Igor with his script, but I sure as hell am going to give it my best and try to beat him in the results. LOL. I must admit it will be a difficult feat as his SL adjustment is quite brilliant to control losses.
It'll be like 2 opposing forces of human nature in trading.
Oh well, gotta hit the sack. My iphone was stolen by the window installers last week, I'm very angry, but there is nothing I can do. I already filed a police report, but they basically told me that they will not investigate because I didn't see who took the phone. So I will need to get the new Iphone now at full cost...what a bummer. But that anger is washed away when I think about my unborn baby, as next week, I will get the see the baby's gender. I'm excited.
hey kenny, what kind of % returns are you getting with igor?