OmniTrader Professional Forum - Omni Pilot Discussion
Foreign Exchange V,s Bitcoin?
Hi to all,
Everyone who is anyone on social media has really banged on how much they have made trading bitcoin? truth hurts but lets be honest it was in a Bull run! even me nan could of made a bundle on that!! I bet one thing? there exits management was pony(easy to get in harder to get out because of human nature greed period)
Lets put things in to perspective the foreign exchange has been around and seen billions made or lost and lets be honest its reliable to trade (CME have just cottoned on and now you can trade futures bitcoin(question is you need 50 odd K for first base)!
Now how much has bitcoin tumbled? like the titanic!! greed and fear all come at once? its not regulated so its a free for all.
So we hear from many we need to get on bitcoin this bitcoin that.
Is forex forgotten? I don't think so whilst the cowboys play cowboys and the marshals be quite and tag away at forex you can still make solid gains.
I did an experiment on forex to see what gains can be achieved in 2 days (48 hour period) using a 50K starting balance using a mechanical strategy.
So I am not putting numbers in just to push the figures up its black & white< 50 K start BUY or SELL 4 CONTRACTS on entry and once profit hit SELL 2 CONTTRACTS then trail 2 to close to exit.
We cant be more simple than that now can we.
The outcome after 2/ 24 hours periods using 50K to start is a profit of £4314.00.
you do the math on percent value (& compound that over the year??)!
Why break something that isn't broken stick with forex and when bitcoin if becomes stable & you find a strategy that works on it then trade until then trade FX.
So if you want to take $1000 a day out of forex in a market that moves $5.4 trillion in any given 24 hour period and be un noticed this is the place to be!
Attached file : 2018-02-14_19-23-51 forex PnL outcome.png (28KB - 171 downloads)
Have you worked with Forex and ARMS5 or know anyone who has?
Hi Richard & all,
To be fare I haven't yet touched base on ARM5 on Forex or Bitcoin.
As i posted previously Bitcoin its a bumpy road to say the least!! so in all fairness forex as mentioned moves over 5,4 trillion every 24 hours and by trading just the london session you can make so much more money over time than bitcoin hands down with less draw down!!
sometimes Hare and totoise springs to mind.
Ive extended our mechanical stratgery for forex and by using omnitrader and omnipilot you can show stellar results.
Ive attached a port sim of back test results for our mechanical strategy.
As and when i get to test ARM5 on forex i will let you know.
Attached file : TPP Trading the FX majors on a 5 minute time frame showing PnL for 14 months of trading..png (158KB - 46 downloads)