Scripts: The best TIMES & DAYS our Strategy Works the best (Improve your Strategy) - MT4

New comment
 

The best TIMES & DAYS our Strategy Works the best (Improve your Strategy) - MT4:

For day traders. 2 highly important indicators to turn strategies into extreme winning ones. The Win/Loss ratio and the Reward/Risk ratio will allow us to identify the best times and days our strategy works the best

Author: forex jarvis

 

hello. can you explain how the information is useful when it does not mention if the market was up or down. does a win mean BUY ? does the loss mean SELL. what is you went short and price droppped that is a win but maybe a loss on your spreadsheet.

if i am understanding incorrectly, please advise ? Thank you

 
Abu Ridwaan:

hello. can you explain how the information is useful when it does not mention if the market was up or down. does a win mean BUY ? does the loss mean SELL. what is you went short and price droppped that is a win but maybe a loss on your spreadsheet.

if i am understanding incorrectly, please advise ? Thank you

@Abu Ridwaan let me explain to you; seams you are new to trading or don't have that much of experience in trading and that is totally fine. What you are asking is to have a trading plan.

Now, a trading plan consist of multiple things, like

* which currency pair to trade,
* when to buy/sell,
* when to close my trade,
* when is the best time/day to trade,
* where is my target,
* how to recover from my losses,
* how much the market will move,
* what is my position size,
* etc.

Now this script actually answers just one or two question of the whole trading plan, when is the best time/day to trade and how much the market will move.

Suppose you have a restaurant, you need a plan to run it. What sort of food you want to offer, should I buy more products or no, when should I stop offer this type of food, how much am i expecting to have as number of customers, when are the best days and times that these customers will come ...so this script will help you know when are the best days and times that customers will come (i.e. a potential win)

 

Hello Jarvis,

Very nice idea, can this also work on strategy tester?

 
Yea I have the same questions, and I trade everyday. Confused on how you recommend us to use this spreadsheet in conjunction with all of our individual strategies.
 
Ihab Salloum:

Hello Jarvis,

Very nice idea, can this also work on strategy tester?

@Ihab Salloum great question my friend.

What we are used to do for every strategy is to backtested on old data, and it would be even much better to actually test this strategy on real data (this type of testing is called forward testing). We test our strategy on real data with somehow small accounts for example for three months.

Once the three months period is over, we can run this script on our result for the past three months in order to know when the strategy was actually working out for us.

Backtesting alone is important but not sufficient. Forwardtesting is essential.

If you allow me let me share with you the following example. Let's suppose that you are the coach of a football team and you a plan for your teams, so you start building this plan and teach it to your players and practice on it (it is like backtesting it), and it would be much better if you actually test it in a real match but in the league or champions league; you would test it in a friendly match or against a second division team (this is like forwardtesting it). So after you test the plan you will be able to see if it works in real and important matches.

Backtesting and forwardtesting are essential in the world of trading.

Let me know if you need more details.

 
forex jarvis:

@Ihab Salloum great question my friend.

This script is actually given us this result based on old data, so it is analyzing old data in order to give us some future insight.

If you allow me I want to just give you a quick tip, usually strategy tester are used if you have an EA (that will buy/sell trades based on your strategy) and you want to test it.

Let me know if you need more details

Yes, i have an EA, and I would like to optimize with your stats
 
Manuel Delgado:
Yea I have the same questions, and I trade everyday. Confused on how you recommend us to use this spreadsheet in conjunction with all of our individual strategies.

@Manuel Delgado good to hear from you !!!

Actually all we need to do is to run the script on our trading result for the past three or four months or maybe the past year. In order to see when was the best times and days that our strategy actually was successful for us.

If I am not mistaken, you are a scalper and this is great. Depending on your strategy, you will be able to identify when was the best times during the day your strategy worked the best.

 
Ihab Salloum:
Yes, i have an EA, and I would like to optimize with your stats
Yes it is possible. Check my reply on your original post. I explained in details about the procedure :D
 

For the script to work a user should go to his account history on mt4 and select the appropriate numbers of months of trading results to be analyzed. What the script does is to look at your past trading results and input them into an excel sheet with the analysis.

 
The author may improve the script to include comments of each trade executed and the actual date of trade execution. This will enable  a user with multiple strategies to identify each of his strategies and the best days to trade them. Also actual date is useful for strategies that are dependent on news release or major happenings in the market. A user is able to identify the specific event that contributed to his or her success or failure of the trade.   
New comment