Putting all great idea together

Hi All

I myself have been trading for some times, around two years. I have been doing it alone and there were up and down during this time.

Now, I have a plan, an open project plan, I would like to open a demo account, create a EA/algo trading system and run on it, and this auto system will be created by everyone (who is interested) in here, as an open project.

I can foresee that there will be a lot of different ideas, some of them may be able to agree and merge, some of them may be very distinctive. Therefore we may end up creating a few.

The idea is we can gather all the creative, intelligent people in here, create a bot that works, and works for retail trader, so that it can take advantage from the market (not to beat it, as we all know it is not possible). The system can also be broadcast via youtube so that everyone can see its action. Of course history will be visible and trackable to everyone so we can improve it.

I can understand why a lot of people may keep their success secret, at the same time I can not understand as well. Because if we gather all our power, and act together, then our 'tiny' movement together will become a big impact, that influent the market, like the big institutions/whales out there.

Just like support and resistance and Fib, the more people who uses it, the stronger the numbers are!

Please let me know if would like to join me! Trading should be fun, should be enjoyable, and lets work together, share together and help each other!

Are you going to start by disclosing your method, and algo?
Or, are you expecting people to develop such a thing for you?

What you are describing seems to be pretty much this entire website concentrated into a single thread?

Nevertheless, I am subscribed. Good luck.

I support your idea but...………

It might have a better chance of success if it was kept in a tight group. Successful systems get faded against and dissolve.


It needs
1. Good ideas
2. Someone to code them up. Probably in MT4.

Pat494 said:

It might have a better chance of success if it was kept in a tight group. Successful systems get faded against and dissolve.

Click to expand...

A myth. Failures will fail regardless of the system they allegedly follow.

Db

Forex Factory is a fascinating insight to herd-mentality and human psychology.
(hope its ok to mention a possible competitor)
All it takes is a couple of consecutive losses, and the followers start making changes to method.
All to no avail, as the changes merely prevent future good signals.
Differing factions evolve, and soon a simple method diffuses into multiple variants.

I doubt we can even agree a time frame.

trendie said:

Are you going to start by disclosing your method, and algo?
Or, are you expecting people to develop such a thing for you?

What you are describing seems to be pretty much this entire website concentrated into a single thread?

Nevertheless, I am subscribed. Good luck.

Click to expand...

hi, thanks for showing your interest.

firstly, i can surely share/disclose my method, but i would do it within the project. because showing it here is no different to open an individual thread for discussion.

doing it in our project space has more control, if we want to do it seriously. Traceability and version control are the things that i would like to improve by having it as a project.

i myself have created a lot of mt4 indicators and ea, so they can/will be shared and reviewed and hopefully improved and crtitised by others.

btw, to answer all of your questions, yes, is similar to putting everything from this forum into a serious project, again, the idea is to have a better control rather random posts.

Pat494 said:

I support your idea but...………

It might have a better chance of success if it was kept in a tight group. Successful systems get faded against and dissolve.


It needs
1. Good ideas
2. Someone to code them up. Probably in MT4.

Click to expand...

hi, without saying too much, i guess u can fully understand my reason behind it, thanks for showing ur interest.

i coded quite a number of indicators and EA in MT4 already, so they can be used as a starting point.

do you have any experience working in software project?

trendie said:

Forex Factory is a fascinating insight to herd-mentality and human psychology.
(hope its ok to mention a possible competitor)
All it takes is a couple of consecutive losses, and the followers start making changes to method.
All to no avail, as the changes merely prevent future good signals.
Differing factions evolve, and soon a simple method diffuses into multiple variants.

Click to expand...

what you say is very true,but i believe if we do it in a demo account, so no real money damage, and together in a group, which we can discuss and find support, at least it would be a good experience.

Pat494 said:

I doubt we can even agree a time frame.

Click to expand...

to be honest,i worry the same, this is why i am prepared to create a lot of branches for different strategies on different TF trading in different markets.

when we start, we should have a small number of members only, so i guess is managable.

I have had some experience in devising strategies but getting someone else to code them up.

Pat494 said:

I have had some experience in devising strategies but getting someone else to code them up.

Click to expand...

what is devising strategy?

luckyvictor said:

what is devising strategy?

Click to expand...

So it's my say how and what makes up the system and how it is to work with what parameters. I like lots of variables that the user can mix and change for better results. Of course better ideas would be welcome. Others would be useful if they can contribute and not just hijack results for themselves.
The bottom line is to make profits not to look pretty.


Personally I expect you would have more hope of success if you open a website and invite others to collaborate in making a profitable system. On the strict understanding that contributors get a copy. We would have to trust you and the obvious question is WHY should we ?

Pat494 said:

So it's my say how and what makes up the system and how it is to work with what parameters. I like lots of variables that the user can mix and change for better results. Of course better ideas would be welcome. Others would be useful if they can contribute and not just hijack results for themselves.
The bottom line is to make profits not to look pretty.


Personally I expect you would have more hope of success if you open a website and invite others to collaborate in making a profitable system. On the strict understanding that contributors get a copy. We would have to trust you and the obvious question is WHY should we ?

Click to expand...

I think the answer to this question is, you dont have to trust me. Due to the fact that it is open and transparent, so everyone knows how the system works and why the system works and why it doesn't work.

This is why i keep emphasize it is open project, unlike those scam that sells you a blackbox system which you never understand how it works, we actually share it (of course you can take it offline and create your own), but I hope that if we are able to create a profitable system, the more people that uses it, the stronger it is, e.g. when more people buy at a certain price, the force will drive the price up, create a trend, and it is a trend that will benefit us, and that price itself will be a support!

I think there are at least some people who are showing some positive attitude towards this 'project', I would like to say thank you to all of you.

I can code indicators and EA, but I dont actually have much experience of working a 'project'.

I am considering github as our hub to host and share the development work, does anyone have a better idea?

In terms of testing the system, I myself have trading with IC, so I can create a demo account and run the system, and I will run my computer at home 24/7 as well. Does anyone know a reliable VPS service? hopefully is free so that we can keep our cost minimum

So, where are we with this?
Your phrase "... I like lots of variables that the user can mix and change for better results. ...|" suggests a free-for-all, where everybody does what they want.
I thought this was a project to develop a specific set of rules for a profitable algo.

Have you decided on a specific method? For example, will this be a Breakout, or Trend-following, or Support and Resistance, or Reversion-to-Mean style trading?

Each style will have different sets of parameters and triggers for trades.
You have to decide on what your psychology is suited to.

Perhaps everyone puts forward their ideal EA and at a specified cut off date we all vote for a starter. It has to be codable, profitable etc. The latter won't become clear until it is tested of course.
As Trendie has said the type of algo is a good starting place.

luckyvictor said:

I think the answer to this question is, you dont have to trust me. Due to the fact that it is open and transparent, so everyone knows how the system works and why the system works and why it doesn't work.

This is why i keep emphasize it is open project, unlike those scam that sells you a blackbox system which you never understand how it works, we actually share it (of course you can take it offline and create your own), but I hope that if we are able to create a profitable system, the more people that uses it, the stronger it is, e.g. when more people buy at a certain price, the force will drive the price up, create a trend, and it is a trend that will benefit us, and that price itself will be a support!

Click to expand...

Are you suggesting that ALL contributors will benefit if copies of the algo are sold or just yourself ?
This is an important aspect that needs sorting before not after it is made.
Perhaps you are suggesting that anyone can follow its development and use what they can free ?

Pat494 said:

Perhaps everyone puts forward their ideal EA and at a specified cut off date we all vote for a starter. It has to be codable, profitable etc. The latter won't become clear until it is tested of course.
As Trendie has said the type of algo is a good starting place.

Click to expand...

As I am already into pullback trading, I wont learn much new, I suspect, so wont propose that.

I propose a candlestick pattern trading algo.
These should be easy to visually see, code, and test for.
They would likely be usable on any time-frame, so I propose 15mins and higher.

Maybe a secondary, competing project using Support and Resistance, on time-frames of 15mins and higher.
Sup and Res should also be easier to technically code for and test.

The above potentially removes the myriad settings of any combination of indicators.

trendie said:

As I am already into pullback trading, I wont learn much new, I suspect, so wont propose that.

I propose a candlestick pattern trading algo.
These should be easy to visually see, code, and test for.
They would likely be usable on any time-frame, so I propose 15mins and higher.

Maybe a secondary, competing project using Support and Resistance, on time-frames of 15mins and higher.
Sup and Res should also be easier to technically code for and test.

The above potentially removes the myriad settings of any combination of indicators.

Click to expand...

Perhaps combine candlesticks with a moving average crossover ?