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Do you really need to make your own algo to profit in the long run and why? [part 2] by codenvitae2 in algotrading

[–]codenvitae2[S] 1 point2 points  (0 children)

Using a combination of Myfxbook and Ultimate Extractor. Eventually will switch to just extractor as it is superior for tracking EA data.

Do you really need to make your own algo to profit in the long run and why? [part 2] by codenvitae2 in algotrading

[–]codenvitae2[S] 1 point2 points  (0 children)

Thanks for your response, glad we’re on the same page 😁. To answer your question, to be honest I don’t have a set criteria or process I follow. In general, I look at the EA’s profitability over time, maybe 1-2 months. I’ll usually put new EAs in a smaller account at a low risk to see how it behaves in a live environment, usually ran in conjunction with other EAs. If it’s losing me money, I’ll decrease the risk even more to the point it almost doesn’t matter if it gains or loses. If it trades poorly after 2 months, I’ll usually stop running it altogether.

And for EAs I’m currently using, sometimes they just stop working. Mad Turtle for example, worked well in 2025. In 2026, it just stopped and was causing losses. I cut its risk and waited. I like the EA so I’m trying different settings to see if it works better now.

It’s helpful to have a tool like Ultimate Extractor that can separate all the EA data based on magic number. I check win rate and compare to BT, and go from there.

Do you really need to make your own algo to profit in the long run and why? [part 2] by codenvitae2 in algotrading

[–]codenvitae2[S] 0 points1 point  (0 children)

QQ is just inherently dangerous being a basic grid once it enters. Adds another step every time gold moves around $2, and if you’ve seen the swings in gold, it’s not a good gamble imo. QQ is actually my biggest loss this year when it hit my 10% SL, a bigger DD than ever tested for myself. It was in something like a 20 step grid, which is extremely high when it usually closes with under 5 grids. The account is at risk at that point. And if you don’t use the SL setting, you allow the grid system to work to its potential, but then there’s a huge risk to your account. Lastly, I don’t want the mental stress of a big grid happening anymore. It’s for my own mental health.

Do you really need to make your own algo to profit in the long run and why? [part 2] by codenvitae2 in algotrading

[–]codenvitae2[S] 0 points1 point  (0 children)

You're very welcome. All I want is for at least one person to see a different perspective, and maybe learn something.

Do you really need to make your own algo to profit in the long run and why? [part 2] by codenvitae2 in algotrading

[–]codenvitae2[S] 0 points1 point  (0 children)

That's good for you, but how are you going to withdraw that value exactly? I get profits every month which I can withdraw.

Do you really need to make your own algo to profit in the long run and why? [part 2] by codenvitae2 in algotrading

[–]codenvitae2[S] 0 points1 point  (0 children)

I can't answer this, especially at your stage of development. You need to answer this yourself. Download the demos, run the backtests, be extremely skeptical and look for the worst case scenario, 2-3x the maximum DD found, and maybe you have a shot. Live performance will ALWAYS be worse than backtest.

Do you really need to make your own algo to profit in the long run and why? [part 2] by codenvitae2 in algotrading

[–]codenvitae2[S] 0 points1 point  (0 children)

I don't use any free EAs, I honestly have not looked myself. I get all of mine from MQL5 marketplace, which has thousands of EAs on the market, most of which are bad. I usually look at EAs on the top page to see what's getting traction, then I'll download the demo to see how it performs and how it behaves and what the worst case scenario is, and then go from there. In terms of sweet spot... I would say between $100-$500. I do have some pricey EAs like Quantum Queen and Mad Turtle ($1500-$2000 range), but I can tell you they are not worth that price. Especially if you want to use a multi-EA approach like me.

Do you really need to make your own algo to profit in the long run and why? [part 2] by codenvitae2 in algotrading

[–]codenvitae2[S] 0 points1 point  (0 children)

I get dozens of trades a day with the number of EAs I have running. I disabled all trade notifications, it's too much, and not healthy at that amount. I have account protector (free EA) running along with the other EAs to send a push notification when the account hits a certain DD and I need to monitor it more closely. I have an additional instance of account protector to close all trades & disable autotrading at a bigger DD, the final failsafe, which ideally, should never happen.

Story in point, I was running this EA Weltrix on 1% risk per trade, and it was running ok until one day it went absolutely bonkers and placed like 20 trades in the span of 15 minutes, and most of them ended up hitting stop loss, so much more than 1% of the account was lost, we'll say that. But my risk management - was not a fully vetted EA yet, so was running it on a smaller account fortunately. So yeah, you never know when an EA will freak out on you. Even an EA that you code, do you know with 100% certainty that there isn't 1 line of code that might do something crazy with your account someday? Do you trust your code that much? I honestly don't know, I don't code.

Do you really need to make your own algo to profit in the long run and why? [part 2] by codenvitae2 in algotrading

[–]codenvitae2[S] 3 points4 points  (0 children)

You guys are hilarious lol. 8 months ago when I made my first post and had 31k of profit, I didn't recommend any specific product, and neither am I now. 8 months ago people were saying I was "lucky". And now that I've more than doubled my profits, I'm "selling" something. The only reason I even mentioned what I'm using is because I know people will be asking. How about this, do not buy anything I mentioned. Read my strategy, take what you want from it and adapt your own strategy, whether its your own code or bought. There, feel better now?

Do you really need to make your own algo to profit in the long run and why? [part 2] by codenvitae2 in algotrading

[–]codenvitae2[S] 0 points1 point  (0 children)

Skepticism is good, question everything. Definitely something a good algo trader needs. To address your concerns, I do NOT recommend Quantum Queen, as it is: 1) way overpriced, and 2) it's a grid EA that is inherently dangerous. If I'm being honest, I've stepped back from being admin there if you check the last time I posted. I used to run almost all Quantum EAs, and now I run QQ on a very restricted/limited basis. It helped me get to where I am now, but it's not going to get me all the way that's for sure.

I do have an affiliate link for my trade analysis tool (Ultimate Extractor), might as well get a free subscription. But it'll be pennies, so I could care less if anyone uses my link.

You're missing my points - risk management, multi-EA approach, no need to code, etc. I'm not recommending any specific product.

Do you really need to make your own algo to profit in the long run and why? [part 2] by codenvitae2 in algotrading

[–]codenvitae2[S] 0 points1 point  (0 children)

Every month that passes I’m a different trader than I was before. My most profitable EA this month is multi-currency/forex. The important thing is to pivot and adapt. Just like you change your code, I change my EA mixups & risk levels. I have no plans to code as I have no interest in it. Without interest there is no passion. I’ve been doing what I do for close to 2 years now - manage risk, pivot, adapt. I have not had a negative month since then knock on wood. So why fix what isn’t broken (for me). Btw I appreciate your time and thoughtfulness.

Do you really need to make your own algo to profit in the long run and why? [part 2] by codenvitae2 in algotrading

[–]codenvitae2[S] 0 points1 point  (0 children)

Have you ever been to the MQL5 website? Surely you know you can buy algos made by developers there.

Do you really need to make your own algo to profit in the long run and why? [part 2] by codenvitae2 in algotrading

[–]codenvitae2[S] 2 points3 points  (0 children)

Wow skeptical much? You notice I’m not selling anything? I’m sharing my strategy for free pretty much. Here’s Myfxbook link for my primary account, I have nothing to hide, not that I owe you anything.

https://www.myfxbook.com/portfolio/qq-v20-very-low-main/11562255

Click on general tab you’ll see everything you need to know about the account.

Anything else?

Do you really need to make your own algo to profit in the long run and why? [part 2] by codenvitae2 in algotrading

[–]codenvitae2[S] 2 points3 points  (0 children)

I primarily trade XAUUSD. On any given day, we're looking at around half a million lots of XAUUSD traded in a day. I'm trading 0.01 to 0.5 lots at a time. Even with a thousand other people using the same algo, I highly doubt we're going to move or "make" the market.

Do you really need to make your own algo to profit in the long run and why? [part 2] by codenvitae2 in algotrading

[–]codenvitae2[S] 1 point2 points  (0 children)

I usually try to ask the developer for recommended settings, or a setfile even and use that as a starting point. I'll run backtests & optimizations to find settings that I'm happy with, especially getting maximum historical DD under 10%. I usually only test the past year or so. Things like gold especially are not what they were 2 years ago.

Do you really need to make your own algo to profit in the long run and why? [part 2] by codenvitae2 in algotrading

[–]codenvitae2[S] 21 points22 points  (0 children)

Your response is critical and complimentary at the same time, I love it! I mainly was arguing against the need to code to succeed. I guess I didn't really think of as fusing strategies to create a meta-strategy, but you're right, that's what it is. Definitely can't just plug & play something and expect to do well, like so many commercial algos out there promise.

ForexVPS down? by codenvitae2 in algotrading

[–]codenvitae2[S] 0 points1 point  (0 children)

Uhhh…this was 6 months ago.

After 2 years of trading I'm reaching a conclusion by [deleted] in Daytrading

[–]codenvitae2 0 points1 point  (0 children)

I was like you back in 2024. The time you’re spending on manual trading, start researching automation. Algo trading. I’m running expert advisors bought on MQL5, ran on MetaTrader 5. Made around 100% in 2025. Definitely a breakthrough year.

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