My Personal Back Testing Results for GBPUSD M30

[mjkidd27]

I wanted to share my personal back testing results for the GBPUSD M30 and welcome any feedback. My plan is to use these going forward with my demo account to realize some live, forward tested results. The back tested results are very impressive using the previous month of January 2024 data.

Here are the settings:
- SL: 1000 points
- TP 600
- Bullish: 4
- Bearish: 6

And the back tested results:

 

[Greg84]

Use a back test over a year, for a more reliable result. But yes looks good. See if a trailing start and step will improve the results. I use a trailing start of 200 and a step of 0 with a similiar high take profit

 

[norman Says]

Use a back test over a year, for a more reliable result. But yes looks good. See if a trailing start and step will improve the results. I use a trailing start of 200 and a step of 0 with a similiar high take profit

HI there, May I ask what is a trailing start for?

 

[mjkidd27]

My understanding is the trailing start tells the bot when to begin moving the SL to breakeven and then continue to chase current price as it moves away in our favor, thereby locking in profits should price begin moving against us. The trailing step is essentially how tight you want the trailing stop to follow current price. Too tight and price won't be able to breath as it stair steps it way in your favor. For example, a TS of 200 means that as price moves away and provides your trade with 20 pips of profit, the bot will move the SL to breakeven (entry price). With a step of 100, as price continues to move away in our favor, the bot will move the SL 10 pips closer to current price every time price moves 10 pips in our favor, but staying 20 pips away. If price turns and comes back at us, the SL is there to lock in profits vice giving it all back. That's my understanding.

 

[InvictusRO]

My understanding is the trailing start tells the bot when to begin moving the SL to breakeven and then continue to chase current price as it moves away in our favor, thereby locking in profits should price begin moving against us. The trailing step is essentially how tight you want the trailing stop to follow current price. Too tight and price won't be able to breath as it stair steps it way in your favor. For example, a TS of 200 means that as price moves away and provides your trade with 20 pips of profit, the bot will move the SL to breakeven (entry price). With a step of 100, as price continues to move away in our favor, the bot will move the SL 10 pips closer to current price every time price moves 10 pips in our favor, but staying 20 pips away. If price turns and comes back at us, the SL is there to lock in profits vice giving it all back. That's my understanding.

Great answer, I tried to answer this aswell but my post is waiting admin approval still. What TS and step numbers would you use on Forex trading as a minimum if I may ask?

 

[mjkidd27]

That really depends on the pair! You will need to back/forward test it, preferably with MT5 to see what works. Honestly, I have not seen a combination that gets me excited yet, but I’d love to see one if you find it. I do believe a winning combination exists, but I have yet to find it.

 

[yonirose]

I wanted to share my personal back testing results for the GBPUSD M30 and welcome any feedback. My plan is to use these going forward with my demo account to realize some live, forward tested results. The back tested results are very impressive using the previous month of January 2024 data.

Here are the settings:
- SL: 1000 points
- TP 600
- Bullish: 4
- Bearish: 6

And the back tested results:
View attachment 2659

Hello and thank you for you input.
Could you please update if you used these settings (on your demo account) and what where your results?
Thanks.

 

[mjkidd27]

I am using these settings and currently have seen 8 straight winners, no losers. I currently have 8 positions open. I'm trying to figure out how to connect my OX demo account to MyFxBook so I can see and share the data but so far it isn't connecting.

 

[yonirose]

Thanks for your answer.
Also, I'm wondering why are you using OX securities account? Is it because they allow direct hedging while US brokers don't allow it?

 

[InvictusRO]

I am using these settings and currently have seen 8 straight winners, no losers. I currently have 8 positions open. I'm trying to figure out how to connect my OX demo account to MyFxBook so I can see and share the data but so far it isn't connecting.

Thanks for your answers too, are you using any trailing stops and steps as well?

 

[mjkidd27]

Thanks for your answers too, are you using any trailing stops and steps as well?

I'm still in full test mode trading through my demo account. My philosophy is to optimize the strategy for a particular currency pair and then let it run for a substantial amount of time allowing it to show its true potential. I'm ok allowing it to fail or show the very attractive results I'm seeing through optimization on MT5.

So to get around now to answering your question...for the GBPUSD - M30 I have a SL of 1000 (100 pips) and a TP of 650 (65 pips). The optimization didn't show using a trailing stop/step as being beneficial. In the last week, it has seen 7 winners, 0 losers.

For the USDCHF M5 I'm not using a SL, just a TP of 200 (20 pips). In the last week, as of this morning it has realized 86 winners, 0 losers.

 

[InvictusRO]

I'm still in full test mode trading through my demo account. My philosophy is to optimize the strategy for a particular currency pair and then let it run for a substantial amount of time allowing it to show its true potential. I'm ok allowing it to fail or show the very attractive results I'm seeing through optimization on MT5.

So to get around now to answering your question...for the GBPUSD - M30 I have a SL of 1000 (100 pips) and a TP of 650 (65 pips). The optimization didn't show using a trailing stop/step as being beneficial. In the last week, it has seen 7 winners, 0 losers.

For the USDCHF M5 I'm not using a SL, just a TP of 200 (20 pips). In the last week, as of this morning it has realized 86 winners, 0 losers.

Great stuff man, hopefully it will go this good when you go live ! For USDCHF M5 did you still used Bullish/Bearish 6/4 ?

 

[robo32amg]

I'm still in full test mode trading through my demo account. My philosophy is to optimize the strategy for a particular currency pair and then let it run for a substantial amount of time allowing it to show its true potential. I'm ok allowing it to fail or show the very attractive results I'm seeing through optimization on MT5.

So to get around now to answering your question...for the GBPUSD - M30 I have a SL of 1000 (100 pips) and a TP of 650 (65 pips). The optimization didn't show using a trailing stop/step as being beneficial. In the last week, it has seen 7 winners, 0 losers.

For the USDCHF M5 I'm not using a SL, just a TP of 200 (20 pips). In the last week, as of this morning it has realized 86 winners, 0 losers.

hi, what settings are you using for usdchf M5?

 

[mjkidd27]

Great stuff man, hopefully it will go this good when you go live ! For USDCHF M5 did you still used Bullish/Bearish 6/4 ?

I'm optimizing over the weekends to verify its performance in both back & forward testing and I'm not seeing large changes in the parameters...more tweaks per sea. This week I'm setting Bull: 5, Bear: 4 with TP: 100 (10 pips). I'm always set at 1% risk.

 

[mjkidd27]

hi, what settings are you using for usdchf M5?

See replied post above.

 

[mjkidd27]

Update for March 5th, 2024. Been running since Feb 18th and have accounted for 180 trades with 154 of those on the USDCHF M5. See the results below. 154 winning trades (100%) accounting for 2,867.5 pips of profit. My objective is to continue to optimize the bot over the weekends and apply any tweaks to the settings as required. I'm anticipating (and hoping) to see minimal required changes to the settings, but I do expect there will be changes as the market & pair change personality. I originally started with TP at 200 and Bull/Bear of 4/4. This week optimization suggested a tweak of TP at 100 and Bull/Bear of 5/4. Here are the results since beginning 2/18. You'll notice I also have some strategies running on the EUR and GBP.

 

[InvictusRO]

Thanks a lot for all this information, it’s really helping people like me with no extensive trading knowledge, did you let Galileo run by itself to close the winning trades or you closed some of them manually?

 

[yonirose]

Can you share an example of your back testing setup on MT5

 

[yonirose]

Update for March 5th, 2024. Been running since Feb 18th and have accounted for 180 trades with 154 of those on the USDCHF M5. See the results below. 154 winning trades (100%) accounting for 2,867.5 pips of profit. My objective is to continue to optimize the bot over the weekends and apply any tweaks to the settings as required. I'm anticipating (and hoping) to see minimal required changes to the settings, but I do expect there will be changes as the market & pair change personality. I originally started with TP at 200 and Bull/Bear of 4/4. This week optimization suggested a tweak of TP at 100 and Bull/Bear of 5/4. Here are the results since beginning 2/18. You'll notice I also have some strategies running on the EUR and GBP.

Can you share an example of your back testing setup on MT5

 

[mjkidd27]

Update...I let the open worst EUR and GBP trades run and did not manually close them. I'm most interested in seeing how the bot performs under stress. Looking to go LIVE starting April 1st! Currently sitting at 69.38% up in less than 1 month of trading!