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So as far as I get it, we need to start slowly with couple of EAs and when one gets confident to increase it.
Does this mean that if I start trading with 1k account and I want to trade with 0.1, and I have some eas, if I want to add more eas, I should reduce the trading amount of all eas but summery to have 0,1 lots?
@Andi-Welcome to the EA Studio club! 🙂 I would definitely start slowly. I would recommend formulating a plan of what trading pairs you want to work with and then spend a lot of time generating your EAs. As I have so many different trading pairs that I am working with right now, it took me about 1.5 months to create all the EAs needed for me to execute my plan (2 M15 and 2 H1 EAs per trading pair). Of course after each generation was complete, I would put the best 2 strategies on demo and let them trade while my other EAs are being generated.
For a 1k account, I trade with 0.1 up to 10 EAs. On the 11th EA, I will then change all of them to 0.01 and keep it like this for all subsequent EAs. As my trading balance increaase by 1k, I will change the lot size in the same increment. For example: A 2k account with 10 EAs or less would trade with a lot size of 0.2. On the 11th EA, all EAs will change to lot size 0.02 and will stay like this for all subsequent EAs. I’m going to keep following this practice for every increase in 1k, until I get to 10k. At this point, 10 EAs or less are trading at 1. On the 11th EA, all EAs will change to 0.1 lot size and then following the same routine all over again. But this time, every 1k increase in balance changes the lot size by 0.1. So when my account is at 11k and I am over 11 EAs, then my trading lot size is 0.2.
Hope this helps.
Hey Jacpin,
so kind of you to answer me personally.
I am actually not new to EA Studio, I have been using it for more than 6 months but to be honest I did not have enough time for it. Now I am having break from my regular job and i think to dedicated the time on it, to review what I have done with the limited time I had, and to learn from the Forum and the new courses from Petko more…
It is great to see your plan about the 2 M15 and 2 H1 EAs, these are the time frames I have been working on so far!
Your trading management sounds really really good! I remember I asked somewhere in Forum before Petko he suggested me something similar, but what you explain sounds really systematic and that is just great.
Only one question here, when you say on 1k account you trade with 0.1 up to 10 EAs, does this mean that each one is with 0.1? And when the 11th EA comes you will change it all to 0.01? Or I do not get it right? Because this means that if you have 1k and you have 9 EAs you will have totally 0.9 lots trading. And on the 11th EA you will have 0.11 which is a dramatic change downwards…
Please, correct me if I am wrong!Kind regards, and thanks for your honest information!
Cheers@Andi-Ah, I see. Glad that you’re getting back into using EA Studio. It is such a wonderful tool and I’m so glad I found it. My trading management is based on a suggestion post I saw from Petko before. Thanks Petko!
You do have it right. Up to 10 EAs, my total trading lot size would be 1. When I put on the 11th EA and change everything to 0.01 lot size, my total lot size will be 0.11. It is a very dramatic change downwards, but that also depends on the asset your trading. Since I don’t only trade forex, the profitability varies for me. For example: I trade Natural Gas. Right now, I am trading at 0.10 lot size because I don’t have 10 EAs running yet on my live account. I only have 6. But the profit is so huge with this asset that moving 10 pips equals 100USD instead of 10USD when trading a forex pair. When I hit the 11th EA and my account is still under 10k, then it’s ok to go down to 0.01 lots because it would equal being at 0.10 lots in forex.
So to get around the low number of lots trading, but still maintain my profit goals and risk management, I decided to expand beyond forex and include other assets like the indicies, energy, metal, etc. This way I am still diversified to maintain money management and the lot size is low to maintain risk management. *But I will say that I am flexible, so if I see that my Natural Gas is continuing to be profitable, I may just leave that one at 0.10 lot size.
I hope that helps explain my thought process. Sometimes, words don’t translate what I’m thinking correctly. 🙂
Hello Jacpin,
so kind of you to answer my questions! Thanks a lot!
I think I get your point. This is because you are trading other assets. Anyway if you were on Forex trading with $1 000 with 10 EAs 0.1 could be a bit risky and the money management would be aggressive.
As far as I remember Petko suggests total of 0.1 when the account is above 1k. When it reaches 1100 to increase total of 0.11(may be another EA with 0.01), and than if the account reaches 2k, we should be at 0.2 total.
Anyway, I am very interested now to have a look at the other assets that you mention as natural gas, and what else you are trading?
Some indexes? And you placing the Historical data in EA Studio and run Reactor?Thank you once again, your explanations seem very helpful!
Warm regards,
@Andi-No worries. I don’t mind answering questions and sharing my experience, especially when it is something that I really enjoy.
You’re exactly right and I try to stay away from aggressive money management.
Yes, that’s right. It would be kind of hard to stick to that in the beginning as your demoing EAs and only putting the ones that are profitable into the live account. Like for me, I have only 6 EAs that have passed my demo testing and are live on my account. They all trade at 0.1 lots right now and they are (in order of putting into live account because they did not all go live at the same time:
AUD/USD H1, EUR/GBP M15, GBP/JPY M15, AUD/JPY H1, Natural Gas H1, Brent Oil M15, Silver M15I actually just had to take off my profitable GBP/USD M15 EA because it had 4 losses out of the last 10 trades. I’m very strict with my criteria, so as soon as an EA hits more than 3 losses, I take it out and replace with a new one. I want to maintain a 70% winning performance at all times in my live account. I don’t want to waste time to see if the EA goes back to being profitable.
To answer about the different assets that I’m trading, I gave a little snapshot from what is live right now. In my demo account, I have 98 EAs running right now. The asset mix is forex, natural gas, silver, gold, brent oil, WTI crude oil, FTSE 100, DAX 30, S&P 500, Wall Street 30, and Nasdaq. I only chose these indicies because they’re pretty popular, but there are others that my broker provides as an option to trade as well like Japan 225. I’ll get to those…maybe. 🙂
I do place the historical data in EA Studio using the export script that is provided. I just run the Generator with my specific acceptance criteria. I don’t use the reactor at all. It’s a nice feature, but haven’t seen the need for it yet. I find that running the generator is faster for me.
Hi Jacpin,
you have awesome portfolios of trading assets. Really you woke up my interest on including the EAs different from Forex. It sound really really interesting.
It is great to see which assets you are focused on, I guess you have tested many before making the conclusion to trade with these.
Also, surprised to see AUDUSD, I never saw this pair with some of Petko courses…
It is good to follow such strict criteria, and it seems your EAs are very good if they keep such a winning performance.
Wow! You asset variety is like really huge! That is so so nice, I will check what my broker provides and for sure tonight I will run some reactor for these assets.
And OMG…just today I learned from one of Petko’s lecture that EA Studio could be used in multiple browsers….I was waiting so much to use it on on browser. Now I will run Forex and metals, and Stock…all could be together. I have laptop and computer so I believe I can run 6 reactors(2 on each without issue).
If you use the generator in EA Studio, do you run Monte Carlo after that for each strategy or you are looking only at the 70%?
@Andi-Yes! I think I saw a forum post about running in multiple browsers and that opened the doors wide open for me in generating my strategies to get to my 98 quickly. Now, I only use 1 browser (Microsoft Edge on weekdays and Google Chrome on weekends). This is because I still work a full-time job on weekdays and I use Google Chrome and Mozilla Firefox often. But when I needed to use 3 browsers to generate a lot of EAs, I used all three at the same time (Chrome, Firefoc, and Edge). The runtime on the application was slower, so I don’t know if it because of how many bars are being used as well who else is running the application at the same time as me or something else entirely.
I don’t run Monte Carlo at all right now. Just looking at the 70% and then going from there.
**I forgot to mention that I actually got started with EA Studio by going through Petko’s cryptocurrency course. So I forgot to say that I have EAs running on Bitcoin, Litecoin, Ripple, and Ethereum right now in demo. 🙂
Hello Jacpin,
thank you so much for the information again!
I hope soon you will not need to work full time and you can depend on the income from the trading. of course if you like your job it will be great to combine it and have double or triple income 🙂
I run it as well on Chrome and Mozilla and it works fast with me..I did not have an issue with the speed of the generator or the reactor.
May be I missed the different browsers because initially I started learning FSB Pro, and there it is one license for one computer. So I decided that EA studio works on one computer in one browser.
I have used some of the BTC EAs before I traveled from the course of Petko, and they did well.
I will test your 70% method for sure!
Have a great weekend!
Andi
Guys, when I say in the course different browsers I mean different tabs. So you can use the EA Studio simultaneously in few tabs in one browser, for example Chrome.
I noticed that if I separate in new tab windows it works faster.
As well you can leave it generating at home, and use it at your work, or you can leave it at work generating for 12-15 hours and in the same time use it at home…there are no limitations with EA Studio.
@Andi-You have a great weekend as well. That is surely the goal…make enough in trading that I can replace my full-time job if I feel like it. 🙂
@Petko-Thanks, Petko. I’m going to try that next time I need to create more than 1 EA for replacement.
Hello Jacpin,
yes, it is good to have couple of EAs ready because sometimes it might happen that few of your EAs on real account lose. And if you have ready ones, you just replace them, and if you do not have you will lose few more days until you prepare them and test them…or even weeks.
EA Studio really gives freedom to the trader not to be limited with the number of EAs he is using.
Imagine you buy EAs from the market, you will be far away from what you are doing now, and you will need spend thousands of dollars, and still you will not have so many EAs daily, weekly, monthly.
Hey Petko, very interested topic here!
I will spend the first week in January to make a plan on what currency pairs to focus during the first quarter in 2019.
I think to diversify a lot on Forex, and on the next quarter I will add indexes, and than stocks.
Hello Jacpin,
quite interesting message I got from one another student(not in the forum):
“When I checked for Coinexx, I found 2 separate websites similar looking, very easy to fall for the trap. coinexx.com and other is coinex.com. Coinexx is already listed on scam alert website.
And I remember you mentioned this broker, so I wanted to check one more time with you, which website you use? So the other student wont have the wrong choice.
Cheers
@Petko-Yeah, I know about the name being very similar to other websites, so this does cause confusion. I use coinexx.com and here is a screenshot of their home page website:
As far as licensing is concerned, I did some more research and as of December 2018, Coinexx acquired Finpro Trading (UK broker). With this information and with me being able to successfully withdraw my profit to recoup my initial investment, I am not so easily convinced that Coinexx is a scam broker. But then again, I am a US trader so my perspective, needs, and requirements on available brokers could be different from a non-US trader. 🙂
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