- This topic has 1 reply, 2 voices, and was last updated 1 week, 3 days ago by
.
-
Posts
-
-
-
Hi Wolfgang,
The app is updated every hour and shows profits and losses. Here is the problem and some education for you.
The historical data your Expert Advisors use with your metatrader terminal is not the same for all brokers/prop firms. The reason is with the forex market there is not one single source where all the brokers get their historical data. So it is up to each broker to go out into the markets and get their own data. They do this by getting trading data from various banks around the world. Unfortunately, all banks / prop firms do not get their trading data from the same banks. As a result every brokers data will be somewhat different. So when you have a particular EA and you use it with different brokers you will get different results. So when EA on broker A is profiting the same EA on broker B could be losing, AND, when the EA on broker A is losing the same EA on broker B could be profiting. The problem is not the EA it is the historical data used by the brokers.
Knowing this, the app where you got the EA uses broker Blackbull for its historical data. The results shown in the app shows the performance of the EAs using Blackbull historical for educational purposes. You need to read the at the bottom of the app. While the EAs in the app show certain performance, because each brokers historical data is different, it does not mean the same EAs will be profitable at the same time with the broker / prop firm you are using. So how do we successfully use these EAs? Good question! Here is the answer: You need to test the EAs with your broker/prop firm. So how do we do this? Here is how I do it: I install all EAs I want to trade with the broker I plan on using and use a 0.01 lot size so the results do not significantly cause a drawdown. I then let the EAs run for one week, sometimes two weeks. I then review the results to determine which EAs are profitable with the broker/prop firm I am using. I will then chose these EAs to trade and change the lot size to represent the account risk I chose to accept. Currently I am testing 50 EAs I created with a new prop firm I plan to use. I always do this to reduce risk. This is all part of money management.
You can be successful using the EAs from the Prop Firm robots app or the Top 10 EA app, it just depends upon how you do it. Success comes from testing with is part of money management. Money management is necessary to run a home, a business, or in trading.
Hope this helps!
Alan,
-
- You must be logged in to reply to this topic.