I think it as excellent idea. I did the same thing back in 2014 when I started. My first algo was 200/50 moving average. Obviously not a moneymaker, but it was the first step to where I am today with external investors and a good track record
They do give a general rationale. Sometimes quite specific. They just won't give enough so that I could reproduce their code if I knew how. I never buy anything that uses Martingale. For me, it's 100% automated or nothing due to my lifestyle.
If I'm going 100% algorithmic, the main difference I see between Forex and stock indices is that the indices always trend up over time, whereas the Forex pairs can be more cyclical.
What was your main source of knowledge for improving your strategy? Was it trial and error all the way? Or did you consult with others for more rapid improvement?
Probably 3000 finance books, a masters in data science and a lot of trial and error. (Did not know any data science when I started in 2014). However, I have always been a «finance nerd» and have worked about 5 years in investment banks as a broker as well as analyst. But I have done the work. To build a successful algorithm is not an «easy way of getting rich» but it is probably more interesting than most other ways. The reason most people fail is that they want the easy way. So unless you are actually willing to do the work, I would advise you to do something else with your time. A trading algorithm is not a quick way to money
Did you decide on just one algorithm? Or do you have multiple? Do you prefer mean reversion or trend following?
I have been using a lot. Or maybe more correctly a dozen but with a zillion different versions. Most of the time, I run about 20 versions of my main implementations, to see how the versions are performing. Then I will get rid of the poorest performers and build further on what works