@SharapovaSisi-Hi there! I only have a license for EA Studio and have been working with it since September 2018. I honestly would not be trading anymore if it wasn’t for this software. I spent about a month generating EAs and just learning how to analyze the data.
Depending on the assets that are available from your broker, I say that it is always a good thing to diversify your trading portfolio. My broker offers forex, cryptocurrency, global indices, and commodity asset pairs to trade. So it gives me a good amount of assets to create a diversified portfolio. But even if you only have forex to work with, it can still be a great diversified portfolio. Honestly, I looked at each category of assets, did trading research about it online (like how it moves, any news regarding it, etc. just to learn more about it) and then whatever caught my interest, I just started creating EAs for it. My favorites are GBP/USD, AUD/JPY, EUR/GBP, Silver, Brent Oil, Natural Gas, DAX30, FTSE100, and USTech 100.
In regards to risk and drawdowns, you have to be disciplined to not indulge over your trading risk management plan. When I am creating strategies, I have specific criteria that I use for every single one. I then demo for a certain amount of time, and then go live. Once live, the EA cannot go below my performance threshold. So for instance, I cannot tolerate no more than a 20% max drawdown in my live account. I could if I wanted to, but this is not my trading risk/money management plan. When creating strategies, I use 0.1 lot size with a 1k USD account as a starting balance and 20% max drawdown. Once I have those strategies created, and they pass demo, I turn them on live using 0.01-0.04 as the trading lot size. This way, my EA is set to trade at 0.01 and I created it with a 0.1 trading lot size with max 20% drawdown, then my live drawdown max is 2% off a 1k USD account. And this actually gets even less with a higher balance account, minimizing the amount of overall loss. :)
I’m a very conservative trader because I use my trading profit to supplement my household finance. I don’t like losing money, so I have put things in place to avoid this or to have a loss that is deemed acceptable.
Hope this helps with my thought process on things. Feel free to ask me anything. I don’t mind sharing. *I actually redid my trading portfolio in January, so I kind of started all over, but I had already made back my initial investment, so I’m happy.