The Art of Forex Portfolio
This time I’d like to talk to you about an ebook (PDF format) titled “The Art Of Forex Portfolio” that I had the chance to read the first time more than one year ago. The content now has been updated and I had the chance to re-read it later.
The book is divided into a few chapters (15):
- Chapter 1 is an overview of the book and the presentation of the authors.
- Chapter 2 is an introduction to Forex and a brief to MT4 and ZuluTrade platform.
- Chapter 3 introduces a few basic concepts like risk/reward and diversification
- Chapter 4 is dedicated to analyzing and classify the different trading strategies (short term, medium-long term, grid trading, and miscellaneous)
- Chapter 5 explains how to select the strategies to be put in our portfolio based on the type of strategy, the timeframe that they use, and the currency pair that they work on (analyzing a little the concept of correlations between them).
- Chapter 6 is dedicated to the explanation of the long process of portfolio testing and optimization. WIth MT4 things are not easy as we can’t backtest/optimize EAs on multiple pairs so here are also explained a few tricks that can be used to have then a “global” portfolio analysis.
- Chapter 7 shows what MT5 will be better than MT4 and what we can do with it that we actually can’t with MT4. MT5 in fact has a more advanced “portfolio” approach.
- Chapter 8 is probably one of the most important ones and is dedicated to portfolio balancing. It explains how to control risk and equity curves so that our portfolio gives the smoothest possible equity line. It’ll also analyze the “compatibility” of strategies based on the graphical look of their equity lines. A note about that: with experience you’ll learn that the equity line gives you a LOT of information about the strategy behind it. There are “typical” equity lines that are strictly related to strategies. And each strategy has usually a typical risk profile.
- Chapter 9 teaches you how to run multiple strategies together by focusing on those that are the technical problems related to that (Magic Numbers, settings, profiles, etc).
- Chapters 10-11-12 switch the attention from the Metatrader platform to the ZuluTrade platform. It is a sort of “signal service” that can be managed via the web. They teach you how to manage a ZuluTrade portfolio and describe to you some ready-made ones.
- Chapter 13 talks about portfolio and account monitoring
- Chapters 14-15 close the ebook is talking about signal services and conclusions.
The core of the ebook is chapters 4, 5, 6, and 8. Those 4 chapters will give you many of the information you need to start analyzing EAs performances and strategies, starting trying to put things together (the right way) and balance them so that the result (the portfolio) gives you a smooth equity line that is our main goal.
The ebook is not cheap ($97) and it’s not mandatory reading for being a successful automatic trader, but surely will give you a good starting background.
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