Posts made by JayPhillbrooks

@Fireblade Yes my bots give signals. I do have ideas to implement executing trades but as of now I'm not interested in trying to figure it out. I do build general bots to trade and have built countless of them in the past. Going back one year or shorter is a good starting base just to see if it's basically doing what it is told. But after that it just makes sense to see how it would have performed in much earlier years. I believe that a bot's stableness depends entirely on the user. An example that I notice from many people sharing their projects on here, their strategy will have a limit buy but no time expiration for it. That order will then get triggered at a much later time with no relevance to the actual strategy because they didn't think to remove it so it affects their results. It could also work in their favor but either way, there's an order that's being reflected when it shouldn't. Build it to where it makes sense and go back as far as you can. See what market conditions crushed it the most and then consider pluging it. If an 8 week downtrend blows it up. Engage it after you see an 8 week downtrend. I've noticed that when most EA's I build are most unprofitable nearly to the point of blowing up. That's usually a good time to deploy. When they are most profitable is usually a good time to take the profit and turn them off. Maybe that's due to the strategies I use.

3-6 months is way too short. I'm assuming that you mean a bot that places trades. An EA could absolutely last a year. Even two. You can put little effort in an EA and it can be be profitable one year but the next year completely blow up. Testing over years puts the EA in different market structures because the more time that goes by, the more market conditions it goes through. Just like anything else especially any type of engineering, things are more so tested in environments that stresses it so that the limits are known. Unless there's some major machine learning stuff going on you'll be hard pressed to find an EA that is profitable in all market conditions over the course of years. I think the amount of processing power needed would bug the EA down and even if someone is pulling it off, they aren't putting that information out. That's why I don't focus on building EA's that take trades because if I have to constantly adjust it to be profitable one year at the expense of drawing down or blowing up another year, it's not viable. I know this goes against saying that you should test for years but it's much better than a few months. There still needs to be human discretion and knowing when to engage the EA or turn it off. Even the software that market makers, banks, and hedge funds use is managed by people. They don't just set it and forget it.

I'm taking a couple of entries and will explain my thought process behind them. This is more so a way of how I analyze price action and will utilize an EA for an entry. This is a pattern that I've seen play out while backtesting across multiple pairs and it's rare that it happens and is difficult to spot even after the fact. I'm taking this opportunity to document it live. If it doesn't play out as expected then that's fine but my hunch is pretty strong and the risk is low. This is an idea and I'm sharing it to demonstrate that I don't purely use EA's/Indicators. I use things in conjunction.

The idea here is to pay attention to 2 negative correlating pairs which I have stated in previous posts. For this example, EUR/GBP and GBP/CAD. Both pairs have very similar movement for 2 weeks. I look for a final similar push in the same direction followed by and obvious divergence. Once that divergence is clear, I look for a pullback within that area for an entry. Even though initially I don't buy at higher prices or sell after price goes lower, this is an exception and I keep my risk very low when doing so. GBP/CAD did drop with the recent pairs I just posted so my thesis is short anyway. That drop came later than I expected so I'll use this as an opportunity to short. I'm only using adaptive moving average and trendlines to visualize direction. There are not used for predicting or buying/selling a ''bounce''. Similar structure for negative correlating pairs is bound to diverge and the best way to spot it is to look for the obvious change and direction.

There are a handful of pairs that could possibly be a squeeze setup into a sell. For each of these pairs price is starting to extend beyond the green lines which is a sign of a reversal. A squeeze up within a short amount of time would be a trigger for me to enter with a sell stop after price trades at the top of the range. If not this still could likely be a top but price may range around these zones for a few days before turning down. Not sure what the likelihood for either scenario but I will be on the watch for both. In this example I'll use EUR/CAD. It has been pushing up but an extended push to the upside in Tokyo or London session, I see it as a blowoff. One thing for sure, I don't want to be a buyer in these zones.

Pairs with the same setup are
EUR/NZD
GBPNZD
EUR/AUD
GBP/AUD
GBP/CAD

Whatever EUR/CAD does, these pair will move pretty similar.

The Ribbon Template is also fitted for the SNP. I'll enter on this signal from what appears to be a low on the last trading day of the previous week.It's pretty rare when price gets here for the SNP and when it does, it's usually upside that follows. I'm also testing this out with options.

Several days? I use lines all the time and my tests are done in under a minute. Can you proved some detail?

USD/JPY setup came later after the other Yen pairs. When price convincingly and consecutively reaches into these zones, I see that as an entry. I do think there will be some upside to follow. Not sure how much or for how long but if there is, this is a point where I want to enter.

GBP/USD gapped as well but it didn't gap down far enough to take me out. Still holding that entry. The type of stop I use depends on the setup. While I'm not a fan of tight stops, I use them here because it makes sense for the setup. I aim for a roughly 20 pip stop. If i do go for 30-40 I lower the size. This pair moved 540 pips from my entry with the stop being at 20 pips. It's risk free now and this is why I utilize this template because we all love those type of entries no matter how impossible people say they are. It's not easy but it's my personal style of trading.

The entry for EUR/USD did move up quite a bit given how tight the stop was. I moved it to break even and only do so when price moves up substantially. Unfortunately it was taken out by a huge gap which rarely happens but that part of the game. I'm assuming that was fundamental due to all the tariff stuff with Canada because USD/CAD gapped up. I was still safe on that move due to the level I got in on and that's why I don't buy as price is climbing or is at highs. I also don't enter during or after gaps. Especially when I'm not at my computer to analyze what's happening. I'll find another entry if one presents.

I will now share the results from my past predictions and entries. I aim to give it some time before updating because the bigger moves take time to mature. On 11/22 there were some pairs that aggressively pushed down. The one that I paid specific attention to was EUR/CAD because I believed that one to be the one to move up the most for the following months. The idea was to enter on pullbacks. Pullbacks are very subjective and there aren't any public tools that are reliable enough to properly identify them and to do so consistently. I used my DmRO indicator to identify an optimal time to enter.

I didn't make a prediction on the one but it's the same pattern.

Still long on Yen pairs based on Ribbon templates.

@Sir In my honest opinion.

CHF/JPY LOW RISK ENTRY

@l-andorrà Yeah it's definitely the best tool out of all the ones I tried and I'm glad that picked it up after trying out the other stuff. It's way more flexible and a ton more options and ways to skin a cat. I also have a 3D animation background and it's really similar to 3D programs that are node based. But yeah it was tough to grasp at first but that's how most software is that are actually pretty good.

@Sir There are also some courses on Udemy. They do cover basics and are easy to follow with clear explanations. If you catch it at the right time, you can get it discounted 80%. Too many people are looking for some master course that breaks everything down and turns out a profitable strategy. That just doesn't exist.

I personally can't help when it comes to constructing complex trading bots. As far as the logic of the strategy, I can give some insight on because I've tried everything. Going into drawdown a handful of dollars just to make 10 cents is a horrible strategy because it's statistically bound to fail. The dollar amount isn't important. What's important is what you are risking to make that profit you are aiming for. Do you trade with real money and understand how brokers work? Knowing that stuff is just as important as building because you don't want to spend a ton of time on things that don't align with the math of the basics of putting on a position. It's fine that you don't know what you are doing. Most of us don't compared to others but you need to learn it your way and you don't have to learn all of it. My advice here.

Look up boxxcode on youtube and follow his tutorials step by step. Slow it down by half if you got to. This is good to get familiar with the interface and where things are at. You won't use it all everytime but it's a good start.

If you need to solve a specific problem, just use the search bar in the forum. Someone has probably already asked. There are also contributors on here who have guides and tutorials. You'll know by looking at the engagement.

Break your project down into blocks instead of working on it as one big project. Once things work out, then move on the the next phase.

Don't worry about the bot placing orders. Have it do something as simple as draw an arrow so that you can visualize what's going on on the chart. Once that work out, then replace it with and order execution.

Build Build Build. Don't feel discouraged because you're not a wizard at this. You should have hundreds of files downloaded of constant adjustments. It would be nice to simply ask a question and get a solution but that's just not the case. It's trial and error and if you stick with it long enough, things will become easier to solve or find work arounds.

@Sir Just looking at your parameters, it doesn't make any sense. A 10 pip stop loss will get hit every time. In your file the stop loss isn't enabled. You are on the extreme on both ends here. You are also saying that you want to take on infinite risk to make 10 pips in profit. Even with that you have to account for spread and commission which could be 20-30 pips just to break even in some situations. I don't think you understand basic price action to think that this is reliable. Change of direction is subjective and that's not what moving averages are for. There also seems to be a martingale element in there. This looks like something that will get chopped up or present huge drawdown. I say that as someone who tried to construct EA's like this and it's good to learn the process but if you study market structure and behaviors, you will see why these type of parameters don't work out.

It's best to just pay someone or a company to build your algos. Use fxdreema to flesh out your ideas that way when you do have someone who can build it and make it efficient, you will know exactly what you need and there won't be much confusion. Mt5 can be used in the US. It's just banned from unregulated brokers. I just use the platform on demo because my stuff is all visual anyway. If it were to be banned all together and I can't use the platform, I'll just have to pick up another platform and pay someone to convert the algos which there are services for. There is nothing to be scared of. Just have to plan for the worst and adapt. This site could go down for all we know or hacked which has happened but luckily I was in the beginning stages of learning so everything I lost was no big deal. Save those Mql files frequently and write down the instructions on how to build your stuff so that if anything happens, you won't be at lost of everything.

I'm still testing things out and finalizing the indicator. I will share a trade entry and the bread and butter setup that I will use once these opportunities present themselves every few months. CHF/JPY is setting up from what I believe to be a long. It's nearing the bottom wall and based on the backtesting going back to 2018, whenever this happens for this pair, there is usually upside that follows. More times than not. When this does happen, it's every 3-6 months. Nothing is guaranteed with the markets but those who are serious think in terms of probabilities. I will use just a small number of the concepts that I been using to enter this.

Wall

Green Line

Ribbon

DmRO Indicator (Blue positive tracers crossing into Red negative levels.)

@fdfx Unfortunately I'm not of use to assist with this. I'm not savvy when it comes to actual coding also this is an indicator which can't be created using this platform. It does remind me of projects I've done and solved but they were EA's. I'm not sure why it works on live market but not in backtester. You may have to try duplicating a new terminal and try it on the fresh one. Sometimes the tester be weird on one but works on another. Normally when something works live but is funky on the testers, usually the code is good. I could be wrong but hopefully someone with more knowledge can help.