I'm a computer programmer & stumbled up on Forex trading about a year ago. Found OANDA REST API and coded against it. Developed a few strategies & tried in the demo. Was able to produce some gain with few strategies & lost a lot in others. Now finally stick to one strategy. I call it the Five 4 hours candles strategy. I have been trading this strategy in live account for 3 weeks now. Results are quite surprising to me.
Strategy:
1) Works on 4 hours candles only. Tried on 15 mins, 30 mins & 1 hour but didn't work well.
2) Single pair EUR/USD. Trying it on other pairs in Demo. You may track my demo account progress in Trade Explorers.
3) Algo analyzes five 4 hours candles to identify different candlestick patterns. It takes trade if it finds an appropriate candlestick setup on the open of the next candle.
4) Trade lifetime is 4 hours. Either hit 50 pips stop loss or close trade at the end of the 4 hour candle.
I'm updating a journal on babypips every week for my live trade. So far 28% up.
https://forums.babypips.com/t/algo-trading-fx/324077
I have back tested this strategy on 15 years of data for EUR/USD. Except 2008 & 2010 the expectancy is positive. The average drawdown is 35%. Average PL ratio: 0.93 and average win per: 56% loss per: 44%.
Strategy:
1) Works on 4 hours candles only. Tried on 15 mins, 30 mins & 1 hour but didn't work well.
2) Single pair EUR/USD. Trying it on other pairs in Demo. You may track my demo account progress in Trade Explorers.
3) Algo analyzes five 4 hours candles to identify different candlestick patterns. It takes trade if it finds an appropriate candlestick setup on the open of the next candle.
4) Trade lifetime is 4 hours. Either hit 50 pips stop loss or close trade at the end of the 4 hour candle.
I'm updating a journal on babypips every week for my live trade. So far 28% up.
https://forums.babypips.com/t/algo-trading-fx/324077
I have back tested this strategy on 15 years of data for EUR/USD. Except 2008 & 2010 the expectancy is positive. The average drawdown is 35%. Average PL ratio: 0.93 and average win per: 56% loss per: 44%.