First EA I have Built That Records Profit - What Is Causing Enormous Losses?

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My first bot to ever record profit is showing huge loss amounts. How can I circumvent this by reducing the cost of the loss? I have modified Stop Loss all over the place and still get the same results. I am using H8 BTCUSD. I have also tried the Intraday filter to try prevent trades on Thursday as well as 8 am, and I still get the same result. Any help would be greatly appreciated. I am a novice and basically fiddled my way to this point.

Documentation on MQL5: Constants, Enumerations and Structures / Environment State / Symbol Properties
Documentation on MQL5: Constants, Enumerations and Structures / Environment State / Symbol Properties
  • www.mql5.com
Symbol Properties - Environment State - Constants, Enumerations and Structures - MQL5 Reference - Reference on algorithmic/automated trading language for MetaTrader 5
Files:
Stochastic_Turtle_EA.mq5  9 kb
 

This looks like you have a 10:1 risk/reward ratio and such analogy is rarely profitable in the long run.

Try to increase your take profit or decrease your stop loss levels to balance your risk/reward ratio better.

 
Luvuyo Mdebuka:

My first bot to ever record profit is showing huge loss amounts. How can I circumvent this by reducing the cost of the loss? I have modified Stop Loss all over the place and still get the same results. I am using H8 BTCUSD. I have also tried the Intraday filter to try prevent trades on Thursday as well as 8 am, and I still get the same result. Any help would be greatly appreciated. I am a novice and basically fiddled my way to this point.

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If you want to discuss your EA in the forum, you must attach the source code.

 
Eleni Anna Branou #:

This looks like you have a 10:1 risk/reward ratio and such analogy is rarely profitable in the long run.

Try to increase your take profit or decrease your stop loss levels to balance your risk/reward ratio better.

Thanks Eleni, I have noticed that when my Stop Loss is decreased, it leads to more losses than wins so my theory was that the low Take Profit would get more hits if my Stop Loss is in another price zone. I will test again using your recommendation this week.

 
Keith Watford #:

If you want to discuss your EA in the forum, you must attach the source code.

Thanks for letting me know Keith, my source code is attached below.
Files:
Stochastic_Turtle_EA.mq5  9 kb
 
Search for "whipsaws"
 
Tobias Johannes Zimmer #:
Search for "whipsaws"
Hi Tobias, thanks very much for the feedback. It makes for interesting reading indeed and basically the key is long term investments.
 
Oh, long term, have you considered swaps to be the reason?
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