Hi, I hope everyone is doing well. I have a great strategy about 80% plus accurate. I want to know if any could help me apply it to machine learning to get a stoploss and take profit?
Thank you,
my more than will to share my strategy
Hello Mark,
That is really amazing to hear!
But at the same time, I do hope that you have also paid special attention to common mistakes that people make while backtesting their trading strategies. You can check out this article to learn more about it.
Also, regarding your question about setting the stop-loss and take-profit levels, the simplest way would be to set these levels at a fixed percentage away from the entry price.
Further, if you wish to set it up dynamically, you can consider using certain indicators like the ATR. In this case, the levels would be dynamically set based on the ongoing volatility in the asset, which the ATR indicates.
Lastly, if you really want to use some machine learning techniques for setting up the risk management levels, I highly recommend you check out this interesting blog on Predicting SL/TP Signal Using Machine Learning.
The author has detailed out the entire process and has also shared some sample codes for reference.
I hope this helps. All the best, Mark!