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
PWD Commons - Common features and inputs of the PWD EAs
PWD Modules - Description of filter modules available in latest PWD EAs
Documents related to MT5 backtesting:
MT5 Backtesting Basics - What you should know about MT5 backtesting
MT5 Backtesting Guide - Your golden thread through a complex theme
PWD EAs:
Paycheck SO (monthly basket trading)
Wagebag SO (weekly basket trading)
Dayswag SO (daily basket trading)
Have fun.
Thomas
Paycheck Project Main Thread
- tomele
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Paycheck Project Main Thread
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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)
Keep the coder going: Donate
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)
Keep the coder going: Donate
- SteveHopwood
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- Location: Misterton - an insignificant village in England. Very pleasant to live in.
Paycheck Project Outline
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.
Thanks for starting this, Thomas.
Read the effing manual, ok?
Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.
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 Thomas (tomele) for all the incredible work he does here.
Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.
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 Thomas (tomele) for all the incredible work he does here.
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- Trader
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Paycheck Project Outline
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
Hello, thank you for sharing your new project. : ) Why don't you share the mq5 file?
- tomele
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- Location: Germany, Forest of Odes, Defending the Limes
Paycheck Project Outline
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
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)
Keep the coder going: Donate
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)
Keep the coder going: Donate
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Paycheck Project Outline
Great answer, @tomele!
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Paycheck Project Main Thread
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
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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- Trader
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Paycheck Project Main Thread
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.
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.
-
- Trader
- Posts: 77
- Joined: Wed Oct 20, 2021 12:36 pm
Paycheck Project Main Thread
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!
Will take another look tomorrow!
- SteveHopwood
- Owner
- Posts: 9754
- Joined: Tue Nov 15, 2011 8:43 am
- Location: Misterton - an insignificant village in England. Very pleasant to live in.
Paycheck Project Main Thread
Timing is everything.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!
My demos are heading south big time at the moment.
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.
Read the effing manual, ok?
Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.
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 Thomas (tomele) for all the incredible work he does here.
Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.
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 Thomas (tomele) for all the incredible work he does here.