Hey fellow traders,
I've been diving into the world of Expert Advisors (EAs) and recently put together my first one. It’s not a scalper, and it has a take profit (t/p) set at 100. I decided to run it on the EUR/USD M1 chart for the year 2007, specifically from January 1st to November 25th. To my surprise, I ended up making around $1 million from an initial deposit of just $3,000!
However, it wasn't all smooth sailing. I faced some significant drawdowns during 2005-2006 and also in December 2007. I’ve tried various methods like stop losses, closing trades during flat markets, and setting time limits, but these tweaks seemed to make things worse rather than better. It appears that many potentially profitable trades were filtered out, and those drawdowns really hit hard.
So, I’m reaching out to the community: does anyone have suggestions on how to enhance the reliability of this EA without cutting off those potentially profitable trades? Please don’t hesitate to share your thoughts!
Cheers,
P.S.
For those curious about the settings, they’re quite aggressive! You can tweak the risk level using the following parameters:
- MaxLots: Reduce this down to 1.
- LotsRiskReductor: Increase it to about 5-10.
- SpanGator: Ramp it up to 3-5.
That said, reducing risk in a single-order system doesn’t necessarily lead to an overall improvement of the system. It turns out that open orders can block the opening of new ones, whether they’re winners or losers. In my humble opinion, the only way to truly test the quality of this system is to do so without limiting the number of orders.
Let’s keep the conversation going!
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