Forex Trading 2018- TA/FA- Setups and discussion, page-4094

Hi Rick

Yes so far I am happy with the capability that EA Labs provides me. The proof of course will be when I actually make real $$$'s with it. It has opened my eyes though to what automation can do for trading, I think of it like making a product by hand which is limited to how many man-hours you can put into production, versus buying a machine to make it non-stop 24 hours/day.

The BRI EA is an interesting one. Its not my model its one of two in the list (the other being the DB) which is a Tradeview model that they give the code to clients to use. Being their model I think it is proper not to go into details, but because they have covered elements of it in their webinars I think its ok to explain that it is based on a combination of signals from Ichimoku and RSI using customised settings. All I have done with it is to test it on different markets and timeframes and select values for certain variables, and sizing, that give results I am happy with, which makes the combination unique to me.

Its interesting because:

1. Of all the 6 models/EAs it builds the most number of open positions at any given time and therefore has the highest margin requirement. For that reason I keep the positions smaller on this EA than the other ones, typically 0.01-0.05 lots whereas the others tend to be in the range 0.05-0.20 lots.

2. Because of the number of open positions it can build, and it is a reversal model so buying when the market goes down, and selling when the market goes up, if the market continues to trend it can take a big hit. For this reason, I have tailored the variables and sizing in backtesting so that the maximum drawdown for the 20 markets is around 5%.

Cheers, Sharks