Topic: Filtering good strategies from bad ones, when working on same chart.

Mr. Popov
I am trying to analyze the results of my setup: 12 different strategies trading towards same MT4 demo account and same chart (M1).

In your Webinar about Auto Trading with help of FSB you have shown how to trade with two different strategies on same chart (the importance of having two different Magic Numbers). But as those strategies works on same account the result shown on Account Tab (Account Info window) are the same for all active strategies. There is no way to separate results of each strategy (anyway I didn’t find any). FSB shows the account result (sum of all active strategies) and not each strategy result.

BTW, I got quit good results from all those combined strategies, but, as situation is now, I cannot filter good strategies avoiding bad ones. Opening 12 demo accounts is not a good solution (I need to install 12 instances of MT4!), partly because I plan to use this setup on a live account – few strategies combined and working with same account.

2 (edited by hannahis 2016-02-07 05:25:22)

Re: Filtering good strategies from bad ones, when working on same chart.

Hi Leon,

You can use MyFxBook to input your account details http://www.myfxbook.com.  Once you have input your trading account in MyFxBook, you are able to use it to analyze quite a number of things.

Another function besides the Entry/Exit accuracy analysis is Custom Analysis.  Once you have verified your account by using the given Investor authorization password to input in your MT4 and click the "connect" (you can thereafter change it back to your own personal investor's password). 

You can use this Custom Analysis to see which EA performs better (separate curve on the graph, attached screen shot for each EA for you to compare and filter the good ones from the bad ones).

http://s30.postimg.org/tfpk17ycd/Custom_Analysis_using_My_Fx_Book.jpg


In addition, using the Entry/Exit accuracy features found in History Tab, you can then understand why your bad ones are bad (is it bad entry or bad exit, attached screen shot 2)

http://s2.postimg.org/p2x6n12o5/History_Tab_Entry_n_Exit_Accuracy.jpg

Hannah

Re: Filtering good strategies from bad ones, when working on same chart.

Hannahis,

Thank you for your help. I was hoping to be able to find a solution within FSB or MT4, but after your explanation I will start using MyFxBook. Your second picture shows that MyFxBook is able to separate strategies based on Magic Number – and this ability will allow me to isolate each strategy, even if all my strategies are working towards same basic account.

Re: Filtering good strategies from bad ones, when working on same chart.

Hannahis,

I have, for a minute ago, opened an MyFxBook account. MyFxBook requires that Myfxbook EA will be placed on a chart to connect to my MT4. As I want to start using MyFxBook on my account tomorrow, I want to organize correct working environment already today.

As MT4 allows only one EA on each chart, and each one of my active charts has a strategy connected to it, so my conclusion is that I have to open additional chart on my MT4 platform for placing there MyFxBook EA. This EA will be able to pick up information from all of my active charts to send this info to MyFxBook. Is this a correct thinking?

Thanks,

Leon

P.S. I totally agree with your strong support for FSB and Mr. Popov’s efforts and quality of his engagement. I am a proud owner of 2 licenses! (and I need only one license for developing new strategies).

5 (edited by hannahis 2016-02-07 12:52:10)

Re: Filtering good strategies from bad ones, when working on same chart.

Hi Leon,

Yes, open 1 time chart per EA in MT4, So If you have 12 strategies,  you would have 12 time charts each with their own magic number, 12 magic number in total.  Since each strategy has its own magic number, MyFxbook will able to analyse each strategy performance based on the information MyFxbook collects from your trading history.  You don't have to have an EA specially installed as MyFxBook EA, like the FSB trader EA etc.

As long as MyFxbook has the correct investor password, it will automatically and periodically (5min or whatever interval you prefer) gather information from your MT4 account, all your trading history.   You can able to see your magic number in your MT4 Terminal under the comment column as I assume you may know by now.

All the best for the coming weeks trading and do share with us your trading tips or ideas, don't have to reveal your entire strategy if you are not comfortable but would be helpful to point the general direction for others to find their ways.

Best Regards
Hannah

Ps  Me too, got 2 licence.  That's the advantage of joining FSB earlier. 

I run in 2 computers.   1 computer with 6 terminals for testing all strategies.   Another computer with 3 terminals for further testing of shortlisted strategies, 1 live account  and 2 zulutrade so in total 6 for this computer and 12 terminals in grand total.

Those people who didn't buy now shouldn't cry foul when FSB is priced above thousand dollars one day.  Who ask them not to take the step of faith and support FSB earlier or now.

Hannah

6 (edited by LeonHerd 2016-02-07 12:51:16)

Re: Filtering good strategies from bad ones, when working on same chart.

Do I understand this correctly? So I will have 12 charts on MT4 terminal with my strategies and additional only one chart for placing MyFxBook EA? (which gives totaly 13 chart windows). Your wrote “open 1 time chart per EA” which I interpret (wrongly?) that I should, for each strategy, open additional chart to place there the Myfxbook EA - which gives totaly 24 chart windows. Could you kindly clarify.

Leon

7 (edited by hannahis 2016-02-07 13:03:41)

Re: Filtering good strategies from bad ones, when working on same chart.

You only need 12 ( 1min time chart) in your MT4 Terminal in total for 12 EA/Strategies

If you still need further explanation,  maybe you can Skype me  PM me your Skype account if you badly need  me to clarify to you over Skype phone or What's App. Cos I understand your desire to have the right set up ready for this week's trading.

I hope I have made myself clearer to you this time round.

Hannah

8 (edited by hannahis 2016-02-07 16:12:34)

Re: Filtering good strategies from bad ones, when working on same chart.

Hi I realise you choose the 3rd option (MT4 EA) in the MY PLATFORM selection.  That's why you mentioned MYFXBOOK EA, I didn't get it at 1st but now I do.

I didn't use this 3rd option, I am using MT4 (AUTO UPDATE ), the last option in the selection.

Somehow the 3rd option didn't work well for me.

Hannah

Re: Filtering good strategies from bad ones, when working on same chart.

Hannahis,

Now I am ready with MyFxBook! It is result from one day's trading.

Thank you for your support!

Here comes a picture taken from my MyFxBook:

Post's attachments

MyFxBook.png 104.3 kb, file has never been downloaded. 

You don't have the permssions to download the attachments of this post.

10 (edited by hannahis 2016-02-07 18:39:31)

Re: Filtering good strategies from bad ones, when working on same chart.

Wow impressive Leon (J),

You have some rather good EA with high entry and exit accuracy, good job!!!  Are these EA improvised from your 7.0 series?  Are you going to share these EA in my footsteps, ha, ha, ha smile

I can see you begin to enjoy using 1 min time chart (from your initial 1 hr preference) smile

Keep it up, it's very satisfying to catch a glimspe of the fruit of our labour and having hope in our horizon to keep us going when we meet some bumpers along our path.

Anthony Robbins once said, our Passion must be stronger than our pain.  In order for us to overcome our pains (from failures) and not let pain (disappointments) overcome our passions (dream of developing a highly profitable EA).

It is not what we get. But who we become, what we contribute, that gives meaning to our
lives.
– Anthony Robbins

“STAY COMMITTED TO YOUR DECISIONS (to develop successful EA), BUT STAY FLEXIBLE IN YOUR APPROACH/trading perspectives (till you found one whom you can have confidence on).”

Hannah

Re: Filtering good strategies from bad ones, when working on same chart.

Yes, 1m charts are YOUR influence! But it is not 7.0 series. I think that each time period has own behavioral patterns and transferring EA’s between different charts is (for me) contra productive as my Forex knowledge is still quite limited. But I understand that you are much more knowledgeable person regarding inner working of Forex, and such process of transfer between different time frames is available for you.

I will, in the future share some of these EAs on FSB forum, but first I want to be sure that it is quality I am sharing and not just potentialities – i.e let me first test those EAs under some longer time period.

Re: Filtering good strategies from bad ones, when working on same chart.

Do try to use 1 min charts as your only chart because it is very powerful tool if you learn how to use it, together with LTF, Longer Time Frame to stabilised your EA

If you don't really sure of transferring your other time chart to 1 min, you can PM me and attach your EA, and I'll transpose it to 1 min, from there you can see how I do it and how to incorporate LTF function into it as well.  No obligation,  at your comfort level.

Hope you will learn more about your EA behaviours from observing their entry n exit performance so that you know which opening/closing conditions are most efficient and why others "fail"  Try not to discard EA till you know why it failed, otherwise we learn nothing from it.  There are no failure, only results/information to learn from


“I’ve come to believe that all my past failure and frustration were actually laying the foundation for the understandings that have created the new level of living I now enjoy.” –  Tony Robbin

Hannah

Re: Filtering good strategies from bad ones, when working on same chart.

Hannahis,

I found that MyFxBook will not allow me to export tables to Excel. As I have 12 strategies to analyze, it is not possible to “size” detailed information by approximate means of sorting tables by columns. I should want to be able to add all entries for each concrete strategy into Excel, in this way summarizing the results.

Did you find some clever way to approach this question? To do this work manually (transfer row after row into Excel) is not the way, especially as I have only one day’s results and those are already a long database to analyze. I have been sorting info from MyFxBook using different columns heads – and this will give some valuable information, but it will not give me the total picture for each strategy, only an approximate impression.

It is very valuable for me to understand how to use LTF. So I will transfer to you the best 1m strategy developed until now. But have patience. I have first to find which one is the best! (which is the main question in this posting!)

14 (edited by hannahis 2016-02-08 04:49:43)

Re: Filtering good strategies from bad ones, when working on same chart.

Hi Leon

If you want a quick glance at which EA is the best performer, then you can click at the "Custom Analysis" at the top right hand corner (screen shot 1). From the "Custom Analysis", you can choose the period and which EA (you can select some or all of your EA for comparison) you want to analyze under the "Magic" Tab/section.  The EA with best performance can be seen as the one with the highest curve (if you bring your mouse to the graph/curve, you will see the magic number of the EA/description of the curve/graph).

http://s11.postimg.org/lgpacn77z/Custom_Analysis_using_My_Fx_Book.jpg


Near the top right hand corner, you can choose to export (with a scroll down option), choose CSV.
http://s22.postimg.org/ncye8z2xp/CSV_export.jpg

Here is how it looks like in the exported csv (excel) file.  No need to add row by row etc.  All the information/column/rows are down in an instant when you export the csv file.


http://s28.postimg.org/qtmoiv6mx/Excell_My_Fx_Book.jpg

You can click on whichever column to sort your data in ascending/descending order, eg. click on top of the Magic column and your data is sorted according to each EA.

Hannah

Re: Filtering good strategies from bad ones, when working on same chart.

Hannahis

How wonderful! Now I have in my hands main tools to work with strategies in the most effective way!
And you help me to quickly find shortcuts towards this objective. I am much obligated and hope to be able to give, with time, something back to you and the members of FSB community.

I am now immediately diving into the deep ocean of Forex. And I have my tools - FSB Pro + MyFxBook+Excel – to catch (hopefully) the big fish. But even small fishes are accepted; hopefully they will come in shoals.

Once again – Thank you,

Leon

Re: Filtering good strategies from bad ones, when working on same chart.

Hi Leon,

Did your EA manage to capture the down turn in the EURUSD that just happened 2 hours ago?

With the right tools in hand, it's much easier for us to develop and fine tune out EA.

All the best for your endeavour and thanks for contributing to the FSB community to keep up the spirit of sharing and giving smile

Hannah

Re: Filtering good strategies from bad ones, when working on same chart.

Hi hannahis,

No, EAs didn’t behave correctly. I have yet to adjust SL and TP to make them more resilient. But it is the next stop in optimization of my EAs. Market returned back to the previous level so everything seems OK, but it could be different and I have to take this into account working on adjustments.

But as I am trading in parallel with 12 EAs (12 for now, but maybe even more strategies in the future) statistically approximately half of them should be opened long and half opened short (some kind of hedging or lock). Of course it is only very approximate supposition; I have to check this against reality – maybe this theorizing is totally wrong. Probably I have to engage a lot of EA’s to achieve this hedging behavior.

Leon

Re: Filtering good strategies from bad ones, when working on same chart.

When you employ hedging, it only shows you/EA are not sure of what you want.  it's ok if you are experimenting with different theoretical framework and not sure which works better.  But if you are using hedging as your trading method, I'm not for it as it could be a signal of what I call "psychological paralysis", whereby the trader is unsure of what to do, and use hedging as a way to "remain" in a state of "indecision".  So while hedging is in operation, we missed out the chance to make any real profit because the gain is nullified by the lost due to hedging, so nothing gain, nothing lost but we actually lost the opportunity to make the right decision.

Quit hedging and start working towards what you really want.  Often in the midst of my hundreds EA, there are bound to be some hedging because some EA use different time frame as their determining factor for entry (although all my EA are running in 1 min time chart) and hence, the effects/incident of hedging is inevitable but not deliberate as my trading style.

Hannah

19 (edited by LeonHerd 2016-02-08 20:06:49)

Re: Filtering good strategies from bad ones, when working on same chart.

Hannahis,

I am not at all applying hedging or planning for hedging. Each of my EAs should work independently, by itself. Today large market jump was not, in principle, visible from the earlier market behavior as it was fundamental in its core. You can, of course, guard yourself by applying proper TP and SL to minimize your losses.

But in my post I was just analyzing if my setup - many EAs working together; but each on its own- will maybe behave collectively in “hedging” way when such big move will happen.

Leon

Re: Filtering good strategies from bad ones, when working on same chart.

Hi LeonHerd,

I've found another website that would help me analyse my EA performance more effectively and user friendly.  Now I can easily filter/shortlist/select out good EA from my list of hundreds EA.  What a relief.

Here is the link http://forexsb.com/forum/topic/5832/usi … rformance/

Hannah

Re: Filtering good strategies from bad ones, when working on same chart.

Using the evaluation tools in FSB aggressively and consistently will reduce the needs to be testing hundreds of strategies.

Multi Markets tells the story in a couple minutes, especially if using OOS.

Try three time frames and the bitter bit is laid bare.

The Monte Carlo is ruthless with evaluation..... we just have to fiddle with the parameters a bit to get the truth.

Between those two is just about enough to prove the worth of any strategy.

Takes only 15 minutes to  verify validity. no need to have time consuming observations.

No need to complicate strategy evaluation, just use the tools in FSBPro and save time for development.

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

Re: Filtering good strategies from bad ones, when working on same chart.

hannahis wrote:

Hi LeonHerd,

I've found another website that would help me analyse my EA performance more effectively and user friendly.  Now I can easily filter/shortlist/select out good EA from my list of hundreds EA.  What a relief.

Here is the link http://forexsb.com/forum/topic/5832/usi … rformance/


Thank you Hannahis for your input! FX Blue is now added to my tool box.

Also, thank you Mr. B. for your views.

Diversity of opinions on this forum allows me to draw my own conclusions and to acquire better compass for my own way through the jungles of Forex.

Re: Filtering good strategies from bad ones, when working on same chart.

One advantage of using FSBPro for this purpose of filtering is that FSBPro can do the job in seconds whereas using that site will take months.

You might note that by using the'Market' section of FSBPro a user is able to manipulate data periods to any required extent, merely by changing the dates. This can take seconds and a complete analysis is available immediately.

Within an hour a person can evaluate performance over a million bars.

Contrast that with managing MyFXbook or FXBlue over many weeks to get a few thousand bars.

FSBPro has been designed to give  a trader quick and accurate and detailed results without having to go to other sites. The analysis in FSBPro is adequate for professional traders.

Of course it is up to the user to explore all nature of sites and additions, however, all the tools are within the software as it exists.

If you actually want to know what your strategy can do......... get a sufficient amount of data and process it with the tools in FSBPro and then get on to the next step.

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

Re: Filtering good strategies from bad ones, when working on same chart.

Leon,

As for the website for EA analysis, I realised some of my early mistakes and here to share with you so that you can avoid my same mistakes.

Whenever you make some changes/amendments to your EA, be it SL, BE or TP or additional conditions, do change your magic number.  Eg 2401.1 to 2401.11 so that your statistical results would differentiate your past results and start a new record via a new magic number to reflect the new changes you have made so that you could monitor the progress.  My mistake was, when I made changes to some of my losing EA and I didn't change the magic number...from the EA analysis, I wouldn't able to tell how my changes has impact or improve my EA.  (I know that sounded common sense...but that's because I didn't have the EA analysis tools to begin with...hence, now I restart all my accounts afresh so that I start to record all my EA statistical results with greater care, cos I'm going to do my elimination and selection base on it).

What I'm looking for now is each individual's EA performance, (profit factor, win ratio etc), I'm not too concern about the account's balance sheet.  That's later part, when I've shortlisted my EA and then the issue of money management and balance sheet becomes the next phase of my goal.

Hannah

Re: Filtering good strategies from bad ones, when working on same chart.

Hannahis,

You have commented, at an earlier post, my proposal for naming of EAs. What you are writing about in this post I had implemented with my token system – and I am changing magic when changing some parameters in a strategy. And the system works well. As you have proposed, I kept only three tokens.

But I am also grateful that you are sharing, with us, your mistakes. It helps me and others to avoid doing the same errors and to choose better solution already from the beginning.

For me to be able to say “I have made some mistakes” or “I don’t know the answer to a question” is a sign of maturity. Unsecure people will always have answers to any question and have difficulties to admit that they are wrong.

Leon