5 Tools Every Forex Algo Trader ABSOLUTELY Needs!

Published on November 15, 2021

Get Interesting Videos Relevant to Forex Algorithmic Trading Videos, 5 Tools Every Forex Algo Trader ABSOLUTELY Needs!.


FREE Case Study “Quitting Your Job To Trade Full-Time”: https://d2t.link/case-study

In this Da Nang Forex trading vlog, I share with you 5 algorithmic trading tools you need if you aspire to create an automated strategy in Forex. Vlog #476

1) VPS – http://bit.ly/2yahpxR (Forex VPS page)
2) MyFxBook – https://myfxbook.com/
3) ForexEAdvisor – http://www.forexeadvisor.com/
4) Fx Pro Quant – http://quant.fxpro.co.uk/
5) Equity Curve Simulator – http://equitycurvesimulator.com/
6) UpWork – https://upwork.com/

Forex Trader Community (Facebook Group): http://bit.ly/2esoMYj
Facebook: https://www.facebook.com/desiretotrade/
Twitter: @desiretotrade
IG: @etiennecrete

Forex Broker: https://d2t.link/axitrader
Best Platform: https://desiretotrade.com/tradingview
Backtesting Tool: https://desiretotrade.com/soft4fx
VPS (for algo trading): https://desiretotrade.com/vps
Trading Journal: https://desiretotrade.com/journal

David Cutter Music – http://www.davidcuttermusic.com
Andrew Applepie – https://andrewapplepie.com/

My name is Etienne Crete (from Montreal, Canada). I’m a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.

I blog at www.desiretotrade.com and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That’s why you can expect more free content from me than what other people charge for!

If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you’re good at.

// Disclaimer
This video expresses my personal opinion only. Forex trading is risky. Make sure you are ready to trade. Even this will not guarantee you positive results. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade or action.

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What I use to edit: Final Cut Pro (Mac)

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5 Tools Every Forex Algo Trader ABSOLUTELY Needs!

Forex Algorithmic Trading Videos, 5 Tools Every Forex Algo Trader ABSOLUTELY Needs!.


How much cash can you reasonably make day trading?

For that reason, with a respectable supply day trading strategy, as well as $30,000 (leveraged at 4:1), you can make approximately: $7,500– $2000 = $5,500/ month or regarding a 18% regular monthly return. Remember, you are in fact making use of regarding $100,000 to $120,000 in buying power on each profession (not simply $30,000).

Recommended Book for Trading Strategies

Building Algorithmic Trading Systems: A Trader’s Journey From Data Mining to Monte Carlo Simulation to Live Trading, + Website

Book by Kevin J. Davey

5 Tools Every Forex Algo Trader ABSOLUTELY Needs!Develop your own trading system with practical guidance and expert advice In Building Algorithmic Trading Systems: A Trader’s Journey From Data Mining to Monte Carlo Simulation to Live Training, award-winning trader Kevin Davey shares his secrets for developing trading systems that generate triple-digit returns. read more…

Originally published: June 11, 2014
Author: Kevin J. Davey

A Proven Refine For Creating Algo Trading Systems

Once you avoid the typical pitfalls in algo trading, it is time to develop approaches in a controlled, repeatable procedure. I call my procedure a Strategy Factory, where trading suggestions come in as basic material, “equipments” transform suggestions into totally evaluated approaches, as well as what leaves the manufacturing facility is either a tradable strategy or a disposed of scrap strategy. The actions I make use of to create a strategy are provided below.
The procedure begins with goals as well as objectives. Like driving a car to a location, you need to know where you wish to end up prior to you start.

Identify the marketplace you wish to trade, and also the annual return as well as drawdown you prefer. You can have extra goals than that, so that is actually the bare minimum. Having strong goals as well as objectives will certainly help you know when you must be pleased with the trading algo you produced, as well as will certainly help you avoid a number of the pitfalls described previously.

Next off, you require a suggestion to develop a strategy with. This does not suggest you require to develop an entire economic concept for your strategy, but it also implies that arbitrarily producing suggestions (such as: purchase if the close of 53 bars back is above the close of 22 bars ago) probably will not function.

The most effective suggestions have a description behind them. As an example, “cost moving up has a tendency to maintain moving up” might be an excellent concept to code as well as become a strategy. The wonderful point is suggestions are everywhere, as well as you can just customize the suggestions you locate, tailoring them to fit your desires. Final note: constantly watch for trading suggestions. You will certainly require to check a lot of them to locate a good one.

The following step is to historically check your strategy. I normally run this as 2 different actions. Initially, I run a small range examination over a couple of years of information, to see if my strategy has any kind of quality. Most approaches fail this step, so it conserves me the moment as well as aggravation of a complete range examination. I also customize the strategy at this moment, if I require to. I can do this without concern of overfitting or curvefitting the strategy to the historical information, because I am just making use of a couple of years of information.

Once I have an effective first examination, I after that do a more extensive examination. I make use of a process called walkforward testing, which is superior to a standard enhanced backtest. You could also do out of sample testing at this moment. The secret is not to check way too much throughout this step. The more testing you do, the most likely your version is mosting likely to be curve or overfitted.

After I have an effective walkforward examination, I run some random Monte Carlo simulations with my version, to establish its go back to drawdown qualities. You wish to have a trading system that provides an acceptable go back to drawdown ratio otherwise why profession it? The other hand, however, is that if the return/drawdown is too excellent, it generally shows a trading strategy that has been overfit (gone over previously as a “too excellent to be real” trading system).

With historical backtesting finished, I now see the trading strategy live. Does it break down in real time? Lots of improperly constructed approaches do. It is necessary that you verify that the trading system still does well in the live market. That makes this step very important, even though it is extremely difficult to do. After all, that intends to spend months watching a trading system they simply produced, as opposed to in fact trading it? But perseverance is key, as well as believe me when I claim doing this step will certainly conserve you cash in the long run.

The final hurdle prior to turning the strategy on is to take a look at as well as compare it to your existing portfolio. At this point, you wish to guarantee that your approaches have reduced relationship with each other. Excel or various other information analysis software is ideal for this task. Trading 5 bitcoin approaches at the same time is meaningless if they are highly associated. The concept behind trading multiple approaches is to reduce danger through diversity, not to focus or multiply it.

Certainly, at the end of advancement, if the strategy has passed all the examinations, it is time to transform it on as well as trade with genuine cash. Typically, this can be automated on your computer or digital private web server, which frees you approximately develop the following strategy. At the same time, however, you require to put sign in location to keep an eye on the online approaches. This is vital, but fortunately it is not a cumbersome job.

Understanding when to shut off a misbehaving algo strategy is an important part of online trading.

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