Paycheck Project Main Thread

Creating profitable EAs for monthly basket trading

Paycheck Project Main Thread

Postby tomele » Sun Nov 13, 2022 2:11 pm

Hi @all.

The Paycheck Project is a new effort to develop a bunch of profitable and reliable EAs. It breaks with some rules and ends some old habits in testing and refining expert advisors. It heavily relies on the MT5 simulator, i.e. backtesting. If this word raises your hackles, ignore the project. If you are open to experimenting with something new, start by reading "The Paycheck Project" outline below.

"PWD" denotes the family of EAs in this project: Paycheck (monthly basket trading), Wagebag (weekly basket trading) and Dayswag (daily basket trading). "SO" stands for "Simulation Only" i.e. working only in the MT5 simulator, not on realtime accounts.


Documents related to all PWD EAs:

The Paycheck Project - General project outline
The Paycheck Project.pdf

PWD Commons - Common features and inputs of the PWD EAs
PWD Commons.pdf

PWD Modules - Description of filter modules available in latest PWD EAs
PWD Modules.pdf


Documents related to MT5 backtesting:

MT5 Backtesting Basics - What you should know about MT5 backtesting
MT5 Backtesting Basics.pdf

MT5 Backtesting Guide - Your golden thread through a complex theme
MT5 Backtesting Guide.pdf


PWD EAs:

Paycheck SO (monthly basket trading)
Paycheck SO.ex5

Wagebag SO (weekly basket trading)
Wagebag SO.ex5

Dayswag SO (daily basket trading)
Dayswag SO.ex5


Have fun.
Thomas
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Happy pippin, Thomas ;)

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It's what you know for sure that just ain't so.
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Paycheck Project Outline

Postby SteveHopwood » Sun Nov 13, 2022 5:45 pm

Thomas has the authority to lift the moratorium on posting about backtesting in his threads. I post here merely to back him up. I have no experience of MT5 and so defer to his.

Thanks for starting this, Thomas. :clap: :clap: :clap: :clap: :clap: :clap: :clap:

:xm: :rocket:
Read the effing manual, ok?

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Paycheck Project Outline

Postby TableTop » Mon Nov 14, 2022 11:30 am

Sounds interesting and more than happy to test. Just looking at charts on the monthly tf makes me think this is a worthwhile venture, and Steve's results show it could be an earner.
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Paycheck Project Outline

Postby Chilllord » Fri Nov 18, 2022 3:34 pm

Hello, thank you for sharing your new project. : ) Why don't you share the mq5 file?
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Paycheck Project Outline

Postby tomele » Fri Nov 18, 2022 4:11 pm

Hi. Thank you for this very good question.

As stated in the project outline, I want users to invest brain and time in the project.

I have done this out of a dilemma: Of course, I want all to become filthy stinking rich. But, as I have learned in my life, too often some people give something and other people take it like thieves without giving anything back. As the universe is based on exchange, this pays off for neither side. As we all know, just running an EA someone else has created works only in rare cases, if any.

The paycheck project is based on exchange. I will provide tools, the project participants will have to invest brain and time testing and optimizing settings until something working evolves. This will then become available to the participants to run it on their accounts. The crowd waiting to take only will come last in the food chain.

Cheers
Happy pippin, Thomas ;)

It ain't what you don't know that gets you into trouble.
It's what you know for sure that just ain't so.
(Mark Twain)

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Paycheck Project Outline

Postby telaso » Sat Nov 19, 2022 3:19 pm

Great answer, @tomele!
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Paycheck Project Main Thread

Postby renegade » Sun Nov 20, 2022 11:14 pm

Hi Thomas,

I really think you are on to something that could be big. Thank you for running with it, and hats off to Steve coming up with the idea. I have some different entry based ideas but will have to brush up on my mt5 back testing skills. I have an licensed algo that allows for the testing of different entry and exit rules. I will run my ideas through it and get back to you with the results. I could dedicate one of my rigs to just this. I would like to be apart of this testing group. Thanks for all your hard work.

Scott
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Paycheck Project Main Thread

Postby TableTop » Mon Nov 21, 2022 9:55 am

So far I am finding that individual SL and TP seem to perform better than baskets, but neither perform well over the longer term. Next - testing individual SL/TP combined with baskets.

BTW - a very useful guide to MT5 testing. I spent Friday and the weekend muddling through, so this should save others a lot of time.
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Paycheck Project Main Thread

Postby TableTop » Mon Nov 21, 2022 5:55 pm

Individual SL TP combined with baskets does improve things. Adding the basket SL and trailing factor has helped me to bring drawdown down to a more reasonable level...but I'm still not close to Steve's demo account performance.

Will take another look tomorrow!
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Paycheck Project Main Thread

Postby SteveHopwood » Mon Nov 21, 2022 10:35 pm

TableTop » Mon Nov 21, 2022 5:55 pm wrote:Individual SL TP combined with baskets does improve things. Adding the basket SL and trailing factor has helped me to bring drawdown down to a more reasonable level...but I'm still not close to Steve's demo account performance.

Will take another look tomorrow!

Timing is everything.

My demos are heading south big time at the moment. :arrrg:

You started demoing with me at the start - I am a genius.

You started demoing with me this month - I am an idiot.

Time alone will tell which of the above I am.

:xm: :rocket:
Read the effing manual, ok?

Global Prime is the official SHF broker. Click here to sign up for a live account with Global Prime and join the several thousand SHF members who wisely choose GP as their broker of choice.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

To see The Weekly Roundup of stuff you guys might have missed Click here

My special thanks to Tommaso (milanese) for all the incredible work he does here.
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