Discussing the article: "Category Theory in MQL5 (Part 17): Functors and Monoids"
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Check out the new article: Category Theory in MQL5 (Part 17): Functors and Monoids.
This article, the final in our series to tackle functors as a subject, revisits monoids as a category. Monoids which we have already introduced in these series are used here to aid in position sizing, together with multi-layer perceptrons.
To summarize our key takeaways and findings from this study, we’ve shown how a different perspective on a monoid, as a category can be implemented in the MQL5 language. We’ve gone further to demonstrate that this implementation can be useful in guiding the position size of a trade system, that in our case relied on the RSI indicator for entry and exit signals.
The significance of functors and monoids being used as position sizing tools does imply that the same can be done for other aspects of a trading system such as entry signal or as has often been the case in these series trailing stop placement & adjustment.
As noted at the end there is still some work and hurdles to be overcome before traders can fully utilize ideas presented here so readers are invited to explore and experiment with functor based approaches in developing their trading systems.
Author: Stephen Njuki