Automated Systems -any hope? :(((

[craig66]

Dr Zogg,

Thanks for the reply, I understand your point on risk mangement been the most important aspect of a system. But I assume on your live system there is some element of TA in the intial trade to a least swing the odds slightly more in your favour? as it would seem silly to do more MM than you had to.

[Dr. Zogg]

Craig,

Hate to disappoint you, but I use no TA. It's useless. I trade pure MM. Nothing else. There's no chance of swinging the odds in your favour by trying to predict anything.

The ony way to trade forex succesfully is to react to it, and for that you don't need TA.

Of the 6 pages of code that I have that manages my trades, 10 lines are dedicated to opening them. It's irrelevent in which direction I open trades. More than 90% are closed in profit anyway. So why bother trying to predict when I know with 90% certainty the random trade I open today will close in profit?

Anyways, all I really wanted to say was is that automated systems do work, they work well, and they are here to stay. I think the next batch of Super Wealthy in the world will come from fully automated investing. It's already begun...

[real5]

hey,

mechanical system that works without any of your input (in my opinion) = HOLY GRAIL!!! I don't think its possible espesially for free - then everyone would profit, don't you think!? (somebody has to sustain a loss for you to profit)

when you talk about testing - you can't really back test anything without personally analizing the data as since you are familiar with psy 101 of forex - we can't predict future, and any backtesting can be twicked until you reach desired effect, but still won't garantee a working system.

Still, you said you spent numerous hours trying various systems during a year. A YEAR is nothing in forex terms(I am assuming that you didn't allow any system to last year) give your strategies/systems a bit more time perhaps a whole year - modify it along the way to suit your needs and remember not every month will be profitable. (i.e. change the timeline to suit your needs) (personally, when I don't have time - I spend no more than 15-20 min using my main strategy analizing the market, and if I can't make a dicision from the information I gathered in that time - there's no trade. If I did - then SL and TP is set and it doesn't matter when I come back)

[Soul-Trader2004]

someone mentioned me earlier in this thread.

Yes, automated trading with good profit is possible - i trade a fully automated system creating around 20% per month.

But you wont find an autotrader in any forum that works - most do this the wrong way around - just find an autotrader and then test it.

If you really want an automated trading solution you have two options:

1. devise a system and THEN automate it (not the other way around)

2. as madison said, invest in one already proven to make money and save yourself a lot of work.

Got to say though - the work is worth it in the end. Mine took a good two years to design and automate and even now is 'tweaked' every month or so.

But keep at it and you'll get there.

To succeed as a trader you need only 2 things

12 hours a day and three years - both at the same time

[Trevman]

theres WAY to many pages for me to be bothered to see if this has been pointed out before but http://championship.mql4.com

Interview with Harry Brinkhuis
To my findings a Take Profit of 42 and a Stop Loss of 84 is the right combination for Phoenix. They are part of what I call the balance between settings, timeframe, Stop Loss and Take Profit. Other people that were testing Phoenix tried to change Take Profit and Stop Loss and got very different results. They somehow changed "The Balance"!

The initial "virtual deposit" is defined as US$ 10000, leverage 1:100.

at a glance id say the average gain is 150% in a week