Automated Trading Checklist (IMHO)
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Apologies I only have experience of shorter time frames but I tend to follow a checklist which I’ve found helpful,
1.Naming convention, “really important otherwise you get lost in a sea of development bots”, eg 1M.LG.DJI.Scalp etc etc .
2.IMPORTANT… Make sure spread is added into bot strategy when backtesting, for me, just because I’m paranoid about backtesting check in V10.3 and V11 for extra peace of mind.
2. Optimise indicators to market ( with a view to whether the indicators are best used for short or long term and if they fit within the time window specified for defaram preloadbars, if you are using it)
3. Check other Time Frames and other Markets if trading with IG, Indices and Commodities, because why not, it might just give a better return with less losses, drawdown. 🙂
4.Add a Take Profit, TP optimised at an upper range but high enough for your breakeven and trailing stop to reach it without affecting overall profit.
5. For smaller markets like France PXI, consider no stop loss as long as the resulting drawdown will be enough for your account to handle, sometimes a trailing stop will impact profitability to the point of not making it viable but if you have a TP and SL with same values and a win rate of 4 in 5 or then it’s a win win. 🙂
Hope this helps get a little bit of structure into your trading, it’s boring but spreadsheets and tracking your bots and trades really helps !
Good luck, put the time and effort in and you won’t be disappointed !
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