I added the EA
Turtle Trading System 2 to my demo account. I got this EA as part of an ebook from Daniel Fernández Pinto who runs the blog site
http://fxreviews.blogspot.com/. The eBook was $18.95 with the title
Automated Trading in the Forex Market: A Trader's Guide to Success. This ebook is worthy of a discussion itself (but that is another story).
Along with the ebook came three EA's (source included
) and one of them was the
Turtle Trading System 2.
Anyone who has read a decent amount of trading history knows about the Turtle Traders. If you don't or need a re-fresher, try:
Richard Dennis at Wikipedia (one of two men that started the whole thing off)
Turtle background information Turtle Trading at Investopedia
The EA has been added using 1% risk.
The EA has a copyright of 2009, Metaquotes. I tried to hunt for the source online to determine the license but could not find anything. I am going to try and ask the ebook author about the license on this EA.
Turtle Trading is a long-term strategy on a EURUSD D1 chart which features:
-no scalping
-no wacko risk/reward ratios
-no weirdo time-frames
-no margin-sucking grid trading
-not sensitive to spread
-strong correlation between backtest and forward testing
-strategy has been around forever and still works great
-proven long-term track record
-trade micro-nano ($100 min)
-trade mini ($1000 min)
-trade full-size ($10K min)
It does have it's cons also:
-average of 1.5 trades a month
-very slow and gradual builder
-can spend years in DD or netural
Attached is a
nine year backtest (Jun 18, 2001-June 18, 2010) with the same settings I am using on my demo account.
I have modified the EA already. It did not come with the ability to change the magic number and, by default, it only considered one decimal place when calculating the lot size. It now uses two decimal places on the lot size and has the ability to plug a custom magic number.
I am going to run a battery of backtests using the same start and stop dates, playing around with the entry and exit number of bars (days) and playing around with the risk to see how far I can push it before I blow up the account.
More later,
Rick