Discussion [Wealthmaxxing] On A Forex Demo Account (MetaTrader 4) Testing An Expert Advisor (Question For Traders)

[BlkPillPres]

@D3X
The starting balance for the account is 50000 AUD, I notice in the profit section it says 68.40, but what does that represent:

1. The balance has not changed and the market closed (so no more testing till next week as its closed all weekend), so what does the profit section indicate, are your profits separate from your balance?

2. If the profit section represents what I think it does (actual profit made on your account) is 68.40 for one day decent performance or crap performance?

The internet at work isn't dependable and I'd prefer to keep my laptop on me at all times, so I'll probably have to get a data plan and trade via my phone if I want to keep testing consistently enough to gauge performance (it was the reason I even bought a new phone to begin with)

 

[Deleted member 7448]

I wish you good luck but imho this kind of stuff never goes well.

 

[ionlycopenow]

I wish you good luck but imho this kind of stuff never goes well.

Forex is a huge meme

 

[Deleted member 25707]

I wish you good luck but imho this kind of stuff never goes well.

Nah it does if you're carefully planning your moves unlike most boomer maga soycucks

 

[BlkPillPres]

I wish you good luck but imho this kind of stuff never goes well.

From my perspective we don't really have anything to lose as our lives aren't going well either lol

 

[Tenshi]

Nah it does if you're carefully planning your moves unlike most boomer maga soycucks

but what that means precisely

 

[Transcended Trucel]

I wish you good luck but imho this kind of stuff never goes well.

it's goes well if you do sufficient back testing, most traders have no plan, use subjective biases. Also only reason the big Quant firms aren't getting massive gains Is the sheer amount of capital they have makes it hard to do so. but for anyone under the hundred thousand zone, hitting double or triple dight returns from a basic crypto/equity/forex script is more than possible but just requires lots of backtesting, live testing then eventually scale the amount of capital to use

 

[Cyrrow]

View attachment 276202

@D3X
The starting balance for the account is 50000 AUD, I notice in the profit section it says 68.40, but what does that represent:

1. The balance has not changed and the market closed (so no more testing till next week as its closed all weekend), so what does the profit section indicate, are your profits separate from your balance?

2. If the profit section represents what I think it does (actual profit made on your account) is 68.40 for one day decent performance or crap performance?

The internet at work isn't dependable and I'd prefer to keep my laptop on me at all times, so I'll probably have to get a data plan and trade via my phone if I want to keep testing consistently enough to gauge performance (it was the reason I even bought a new phone to begin with)

I think profit means how much money you would've made if you sold the stock when the market was closed.

I couldn't tell you if it was good because I don't do day trading & also because I didn't start using a stock simulator & haven't sold any of my stocks as of yet.
RN if I sold my stocks I would make a little over $2k in profit.
Three days ago if I sold I would've made almost $4k in profit.
I am waiting for the cornovirus scare to go over because stocks I've bought normally sell at $90 & I bought it at $26.

 

[Pengwin]

Refreshing to see a forex trader instructor that is not a scammer

 

[BlkPillPres]

Refreshing to see a forex trader instructor that is not a scammer

I'm not instructing, I'm asking for instruction lol

 

[Pengwin]

I'm not instructing, I'm asking for instruction lol

Lol didn't even bother to read tbh

 

[BlkPillPres]

Lol didn't even bother to read tbh

That's ironically how people get scammed

 

[Pengwin]

That's ironically how people get scammed

can't argue with that

 

[BlkPillPres]

I think profit means how much money you would've made if you sold the stock when the market was closed.

Ffffffffffffffffffffffffffffffffffffuck

Where do I check to see the profit I made though, either way I downloaded a course for metatrader 4 so I guess I better check it out

 

[Deleted member 20195]

Lost 9k doing this shit. You're kidding yourself if you think this is any different than going to a casino and gambling.

 

[BlkPillPres]

you can use meta trader to trade fake shit for practice ?

You don't know what paper trading is?

That's like the first thing you'll hear about from any person you ask about getting into trading

Lost 9k doing this shit

And, you are saying that as if you are some bastion of trading knowledge and because you failed everyone else will too JFL

"ITS ME WERE TALKING ABOUT HERE, and I lost 9k doing it"

Spoiler: The Only Possible Response

You're kidding yourself if you think this is any different than going to a casino and gambling

Sure dude, something that has years of research into it, with people creating statistical indicators is just like gambling at a casino

You just sound like a sore loser trying to justify his failure as - "it wasn't feasible to begin with"

 

[Transcended Trucel]

so meta trader is for paper trading ? yes or no

you can do both
paper and real(need get broker )

 

[BlkPillPres]

so meta trader is for paper trading ? yes or no

Metatrader is for trading period, to do paper trading you have to open a demo account with a broker and then download their specific metatrader 4 client, you can then login on that demo account on a demo server to do paper trading

 

[Transcended Trucel]

or i can just use literal paper

you could but for niggas doing scalp trades, they often do hundreds even thousands of trades a day, tracking all that shit is a pain manually

 

[Cyrrow]

Ffffffffffffffffffffffffffffffffffffuck

Where do I check to see the profit I made though, either way I downloaded a course for metatrader 4 so I guess I better check it out

I mean... Did you sell anything?

I mean if you sold it I imagine it would appear in the balance.

 

[Transcended Trucel]

scalp= quick few seconds position and close

 

[Transcended Trucel]

i'll use an excel file tbh

I have tried but, it's too much work when I am testing scalp strategy. now I may just focusing on either coding on quantipian or backtrader and seeing if my script will be profitable. it's not worth the headache to do this shit manually

 

[BlkPillPres]

I mean... Did you sell anything?

I think I did, I'm basically using a bot for auto trading, if you look at the image of my initial post you'll see there's a sell order

i'll use an excel file tbh

JFL that doesn't sound very efficient, for me the entire point of this is passive income, if I have to spend a ton of hours a day actively making the money, then its not really passive now is it

Seriously dude you sure you're 20?, you have an old taste in music and when you said you would use excel it reminded me of a lot of the older workers where I work that don't want to use custom databases and want to stick to "the old way" they are used to

 

[Cyrrow]

I think I did, I'm basically using a bot for auto trading, if you look at the image of my initial post you'll see there's a sell order

I think you should consult the course rather than us, it must mean something else.

 

[AlexanderTheGreat11]

Good luck

 

[Justdone]

If Forex is international it can be in like different currencies.

Free Margin is likethe money ya can use to make withdrawals if I remember correctly from a college class I had.

 

[JestER]

JFL @ thinking you can make it through stocks without any proper connections

 

[BlkPillPres]

it's paper trading, it doesn't make money at all

I'm confused, I thought you are doing manual paper trading because you plan on applying that to the real market when you start trading with actual money, if you are going to trade the usual way with actual money then why do manual paper trades tracked by excel?

JFL @ thinking you can make it through stocks without any proper connections

Some of us just have to find out the hard way I guess, but I am going to find out, better than just telling myself it won't work and never trying and spending my whole life asking "what if" questions

 

[Transcended Trucel]

JFL @ thinking you can make it through stocks without any proper connections

u retard day trading is making statistical betting and nothing more.

 

[l33tbl0k3]

it's impossible to gamble in stocks and win. Big shots decide which stocks go up and down, like Hertz went up 40% today and they're fucking bankrupt.

 

[Transcended Trucel]

it's impossible to gamble in stocks and win. Big shots decide which stocks go up and down, like Hertz went up 40% today and they're fucking bankrupt.

u retard, day trading is stastistical betting not fucking speculation that is called swing trading,speculation, portfolio management. That shit isnt daytrading nigga

 

[Deleted member 17889]

Forex is a huge meme

unless you actually know how to profit

 

[BlkPillPres]

i was thinking about starting it, but why should i ? you need money to start making money, and i don't have that money

I'm literally going to start trading with only $100 US, if you use a trading strategy with good equity and consistent small profits you don't have to worry much about capital, the only factor at that point is really time

This is why back testing is important, look into it, and look into EA trading

I know I'm not some market genius so I'm letting algorithms do the picking for me

 

[Transcended Trucel]

unless you actually know how to profit

95% of daytraders fail. but I am pretty sure the success rate for algo traders, is likely to be higher as they do statistical bets. Remove the subjectivity,emotion and other useless shit

 

[l33tbl0k3]

u retard, day trading is stastistical betting not fucking speculation that is called swing trading,speculation, portfolio management. That shit isnt daytrading nigga

how to make money day trading

 

[BlkPillPres]

u retard day trading is making statistical betting and nothing more.

You ever notice how a lot of people construct "boogeymen" as their reasons not to try, because its so much easier to pat yourself on the back than to keep trying after failure

Some of these guys might actually believe that The Bogdanoff Twins control the markets and manipulate it


View: https://www.youtube.com/watch?v=KV5QlSgq7lg

i could pay all my bills by myself, move out of my family's house, and neet

That's the plan

 

[Transcended Trucel]

how to make money day trading

Find a few strategies, back test it, ideally make a bot or script, input historical data, see how it plays out from 2009 to 2020. Have a set Win:Loss ratio, A P;L ratio. Once you have found winners, live test them for a month or three depending on how much risk you can tolerate.

Once you have found an algo script that can be scaled, works in the past and in live testing, time to put your real money to use.

I have personally tried manual trading, and the success rate is lower,inconsistency very high, and manually determing Resistance, and support tends to be difficult and inaccurate. But I have found success on news trading.

The strategy is the same for both algo and day terading. Find strategy, see if it works in the past, live test it for 1-12 months depending on your risk tolerance. And then use real money if profitable, scale as needed. Certain strategies(scalping,pennies,low float) have limits to scalability, so that should be taken into account.

You ever notice how a lot of people construct "boogeymen" as their reasons not to try, because its so much easier to pat yourself on the back than to keep trying after failure

Some of these guys might actually believe that The Bogdanoff Twins control the markets and manipulate it


View: https://www.youtube.com/watch?v=KV5QlSgq7lg



That's the plan

The bogandof shit does happen to penny stocks and low float trash stocks. But for us algo traders, that is not a concern. So this shit wont happen. Only retards who trade penny or low float stocks get bogged.

 

[Transcended Trucel]

they actually do

Rich people use dark pools of money as to not affect publicly listed price to move in and move out their money. Their activity will not affect daytrading much unless your doing pennies/low float garbage. Swing traders,long term investors, and speculators are more exposed to that risk

you need to make a moneymaxxing megathread with @BlkPillPres

I will in a year, if my projects work out. They are taking time and are grindy. But I have found 10 strategies, which I am testing for stocks. And found my dropshipping focus(high ticket expensive items as you can spend $100 on ads($1 an add roughly equals 100 people on Facebook) and still break even with 1 buyer).

 

[BlkPillPres]

2009 to 2020

I was testing from 2003 to 2015, has too much changed in the market to use that range?

I wanted to push it forward but I was afraid that if I base the results off of drastic changes like what happened with the Corona Virus the strategies would not be tailored towards a "more stable market", I don't really expect to make any profits until things normalize again

 

[FAloner]

OP don't fall for the forex trading meme, you will lose all your money, fees are eating up everything. The FX market is basically random at this point.

 

[BlkPillPres]

And found my dropshipping focus(high ticket expensive items as you can spend $100 on ads($1 an add roughly equals 100 people on Facebook) and still break even with 1 buyer).

How do you get into this, I don't expect you to tell my your niche, but do you know of a course that you did or source of information you have, I always think its better to information from incels as it applies more specifically to our lives, I've only ever saw normie tier shit about being social and advertising actively on instagram, etc

you need to make a moneymaxxing megathread with @BlkPillPres

TBH he's seems way ahead of me lol, I'm not sure I have anything to add, I'm just beginning to climb my way up, he's already up on the ladder

 

[Transcended Trucel]

I was testing from 2003 to 2015, has too much changed in the market to use that range?

I wanted to push it forward but I was afraid that if I base the results off of drastic changes like what happened with the Corona Virus the strategies would not be tailored towards a "more stable market", I don't really expect to make any profits until things normalize again

High frequency trading has become more common from 2015, but the corona virus shit should not affect your algos success rate too much. A good algo works in all market condtions. Another thing you could do, is have an algo made for a specific type of market climate(such as a stable one) and have it turn off when that market climate is fucked(such VIX or volatility goes too high, greed and fear index is too heavy in fear etc) then turn on when the Volatility or whatever parameters have become suitable

 

[BlkPillPres]

OP don't fall for the forex trading meme, you will lose all your money, fees are eating up everything. The FX market is basically random at this point.

I understand that the market is in chaos right now but I'm really just preparing for when things stabilize, also some brokers have very low commission rates

 

[Transcended Trucel]

How do you get into this, I don't expect you to tell my your niche, but do you know of a course that you did or source of information you have, I always think its better to information from incels as it applies more specifically to our lives, I've only ever saw normie tier shit about being social and advertising actively on instagram, etc



TBH he's seems way ahead of me lol, I'm not sure I have anything to add, I'm just beginning to climb my way up, he's already up on the ladder

Most of the good dropshipping information is on reddit and youtube. You can also find good courses on udemy and the other online course stuff.

Dropshipping is mostly a game of marketing,having good pictures, functional site, etc. Marketing is the hardest part. It can take upto 20 single product stores or ad sets before you make a breakthrough.

Originally from ~2010 to ~2018, most dropshipping was from Chinese goods from aliexpress or other warehouse sites. The dropshipper would market the product and the chinese would ship it out for them. Dropshippers job would be to market it.

But Trumps trade war has complicated this, he has made shipping from China bit more unfavorable, Consistent quality is another problem from dropshipping, oversaturation where too many people in it is another issue.

To over come these issues, I personally am focusing on POD(print on demand) dropshipping where you sell art,custom shirts etc and possibly dropshipping from american suppliers(fast shipping times, better quality, tho some chinese companies LARP as american ones so those should be ruled out) if POD fails. POD has the benefit of being able to make a brand(you can make licensing agreements using sites like https://creativemarket.com/), and another clone store can't sell the same product. As well as selling high quality expensive art/clothes($100+) allows me to spend $100(3000 to 10,000 people reached on FB ads for this money), and even if one customer, I would break even.

 

[BlkPillPres]

Another thing you could do, is have an algo made for a specific type of market climate(such as a stable one) and have it turn off when that market climate is fucked(such VIX or volatility goes too high, greed and fear index is too heavy in fear etc)

You seem to be talking about the psychological aspect of trading, where did you learn all of this?

Most of the good dropshipping information is on reddit and youtube. You can also find good courses on udemy and the other online course stuff.

Dropshipping is mostly a game of marketing,having good pictures, functional site, etc. Marketing is the hardest part. It can take upto 20 single product stores or ad sets before you make a breakthrough.

Originally from ~2010 to ~2018, most dropshipping was from Chinese goods from aliexpress or other warehouse sites. The dropshipper would market the product and the chinese would ship it out for them. Dropshippers job would be to market it.

But Trumps trade war has complicated this, he has made shipping from China bit more unfavorable, Consistent quality is another problem from dropshipping, oversaturation where too many people in it is another issue.

To over come these issues, I personally am focusing on POD(print on demand) dropshipping where you sell art,custom shirts etc and possibly dropshipping from american suppliers(fast shipping times, better quality, tho some chinese companies LARP as american ones so those should be ruled out) if POD fails. POD has the benefit of being able to make a brand(you can make licensing agreements using sites like https://creativemarket.com/), and another clone store can't sell the same product. As well as selling high quality expensive art/clothes($100+) allows me to spend $100(3000 to 10,000 people reached on FB ads for this money), and even if one customer, I would break even.

Definitely adding you to my follow list

 

[Transcended Trucel]

You seem to be talking about the psychological aspect of trading, where did you learn all of this?


Definitely adding you to my follow list

I basically read books from this list and information on r/algotrading wikifor 30-60 minutes a day. I also have spent probably 5-6 years daytrading and crypto trading but not in a dedicated manner which has of course limited my progress but it gave understanding and trained me to get used to the psychological aspect of trading. I lost money and earned good money doing speculation but it is not consistent and lots of work(if want be proftiable) so thats why I am shifting to dropshipping and algotrading instead.

The picture is just my speculation portfolio, I have grinded from 34k to 46k over the past few months with it. But again its lots of work and research and not based on statistics and unideal.

 

[BlkPillPres]

I basically read books from this list and information on r/algotrading wikifor 30-60 minutes a day. I also have spent probably 5-6 years daytrading and crypto trading but not in a dedicated manner which has of course limited my progress but it gave understanding and trained me to get used to the psychological aspect of trading. I lost money and earned good money doing speculation but it is not consistent and lots of work(if want be proftiable) so thats why I am shifting to dropshipping and algotrading instead.

The picture is just my speculation portfolio, I have grinded from 34k to 46k over the past few months with it. But again its lots of work and research and not based on statistics and unideal.
View attachment 276304

Thanks for the info, guess I'll get started on the wiki

 

[IncelKing]

Morningstar Australia - Empowering Investor Success

Morningstar Australia provides investment research and ratings for stocks, funds, ETFs & LICs, news and tools for investors and financial professionals.

www.morningstar.com.au

I get most of my information from here. It tells you the price fluctuations of shares within the time period of opening and closing of the market in a single day, based on predictions made by financial experts who have taken into account all of the variables and factors within the company, industry/sector and market of the share you're looking at.

Obviously they can't be correct 100% of the time because although these predictions are made by a computer algorithm, the coding of the program is based on market research which has been done by humans. But they are correct like 70% of the time, so even though you might lose some money in the short-term, in the long-term you should be making profit.

 

[BlkPillPres]

Morningstar Australia - Empowering Investor Success

Morningstar Australia provides investment research and ratings for stocks, funds, ETFs & LICs, news and tools for investors and financial professionals.

www.morningstar.com.au

I get most of my information from here. It tells you the price fluctuations of shares within the time period of opening and closing of the market in a single day, based on predictions made by financial experts who have taken into account all of the variables and factors within the company, industry/sector and market of the share you're looking at.

Obviously they can't be correct 100% of the time because although these predictions are made by a computer algorithm, the coding of the program is based on market research which has been done by humans. But they are correct like 70% of the time, so even though you might lose some money in the short-term, in the long-term you should be making profit.

I'll look into it

 

[BlkPillPres]

JFL the thread got moved to off topic, one of the most productive threads ever on the site, no spamming, no trolling, no larping, people asking serious questions and showing genuine interest, well that's "off topic", inceldom should just be about doing nothing and complaining

Like I said in my other thread:

Lookism Even Determines The Kind Of Forum We Have, LDAR Idiot Culture For The Uglies & "Aim For Success" Culture For The "Regular" Looking "Hopefuls"

Only just checked out the looksmax.org forum, how the fuck do they have a "Success" subforum? I remember specifically asking for a subforum like this (wealthmaxxing) for here multiple times, even stating it would lead to LESS trolling and larping and a more focused userbase rather than all the...

incels.is

ITS NOT A FLUKE

THE SITE CREATOR DIDN'T MAKE "MISTAKES" (Like I always thought before)

ITS ON PURPOSE!

WERE LIKE THE DOGS BEING FED SCRAPS LOOKING UP AT THE DINNER TABLE

THE SITE EXISTS THE WAY THAT IT IS

ON PURPOSE!

TO KEEP MOST OF THE INCELS THAT BROWSE HERE IN A DUMBED DOWN STATE, IMMERSED IN A LOW QUALITY CULTURE OF TROLLING AND LDAR, SO THAT THEY NEVER PURSUE ANYTHING OF WORTH

This forum is a joke, when I finish wealthmaxxing I'm definitely creating a wealthmaxxers forum