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I have taken all 50 EA’s and ran the strategy tester on them in my MT4 demo account. The attached spreadsheet shows the results. I need to trim this list down to 10 EA’s. The question I have is should I use the ones with the greater Profit Factor, number of trades or net profit?
I am setting up 10 live accounts with my Oanda broker and will fund each account with $200.00. I may need to adjust Lot size based upon margin requirements. At the end of each month I plan on reviewing the results. Each account will contain one EURUSD EA to avoid the FIFO rule in the United States. I will then create a Portfolio in FXBlue to combine these 10 live accounts together so I can analyze them all as one account.
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Hi Alan,
Where did the original 50 EAs come from and why have you used the mt4 tester rather than just use EA studio?
Soumds sensible what you are doing to get round the FIFA rule.
How long have you been demo trading? It sounds like you are going straight to live? If so I would strongly recommend doing what you are doing with demo for at least a month or two first.
Of the three options you have given I would say profit factor but definately trade them for at least a bit on a demo account to make sure you are happy with their performance.
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The 50 EA’s I used came from the ” Top 10 EURUSD Expert Advisors: Top EA Forex Trading ” course. The 50 EA’s were selected as a result of testing strategies in EA Studio. I then took those 50 EA’s and tested them in the invironment they will be used using MT4 strategy tester. See attached spreadsheet which shows my results.
I have been demo trading for the last two months using EA’s from the ” Top 5 Forex Strategies from a Pro Trader + 5 Forex Robots ” course and have had good results with the EURUSD EA from that course which has given me confidence in going live.
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Hi Alan,
It would be logical to continue using that EA that you have faith in and had some good success with in demo for two months and it’s good your not going too fast. Might be an idea to test your new plan using demo also though, but scaling up with small money to start is also fine really (as long as can tolerate any drawdowns and losses with real money).
Remember that in using the EA from top 5 course that it was selected for you. Picking 10 from this selection means you are picking yourself so there is a difference.
I’d suggest also trying to pick less correlated EAs to combine also rather than just top 10 profit factor for example
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Yes I am using the EA from the top 5 course. From the top 10 I need to pick myself I have only added two of them to two live accounts and I am monitoring them closely. I have also reduced lot size to 0.05. As these go into profit I will be adding additional EA’s to live accounts. It will take some time to get all 10 live accounts fully up and running. Once I have sufficient closed trades I will then add them to FXBlue. As for using less correlated EA’s, I don’t have a group of less correlated EA’s to chose from. As this portfolio of EA’s makes money I plan on using some of the profits to add courses so I will have access to other currency pairs to chose from.
Currently, I am undecided about using EA Studio. From the messages in the Forum it seems like it could take quite some time to learn how to use it properly so that I can get reliable EA’s from it. Therefore, at this time I think it would be less time consuming to just add courses to select EA’s from and let you guys deal with EA Studio. I think my time would be better served using your EA’s and putting together a good performing portfolio of EA’s. I could change my mind at a later date but for now this is my plan.
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Sounds like a good plan to start out Alan.
I’m sure you will adjust as you go of course.
I just meant with the correlation that you can open the EAs you have it EA studio (all for the same pair and timeframe) and make sure that they are not correlated using its tools but if you are not using it then that’s not an option.
Will be interesting to see how you go. Keep us posted on your results :-)
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I will update on July 9th…
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As promised I am now updating my portfolio of 10 EA’s comprising of EURUSD. I started this portfolio of EA’s 10 days ago. To put together this portfolio I opened 10 MT4 accounts. Five accounts with Oanda.com and five accounts with Forex.com in the United States. I funded each account with $400 and set the lot size to 0.05 lots. I selected the EA’s to use as discussed in a previous post shown above this post. The results show that I had a total profit of 5.5% over this 10 day period as shown in the attached picture. The picture also shows that over the last 3 days the portfolio had losses. I attribute these losses to the Non-Farm-Payroll report that came out Friday with the markets starting to brace for this report from Wednesday onward. The first 7 days of the existence of the portfolio showed profits with the flat period occurring because of the weekend. In reality, I don’t expect this portfolio to just make profits day after day. What I expect is for some days to be profitable and some with losses but overall I expect the trend to point in an upward direction. It will be interesting to see how this portfolio of EA’s does over the balance of July.
Some may be wondering how I am managing this portfolio. So far I have not made any changes to the EA’s. Each day I have been running the MT4 Strategy Tester on each of the accounts and looking at the resulting graphs to examine the trends. Two of the accounts have not yet had any buy or sell triggers. Two of the accounts are moving sideways. The remaining accounts have been fairly active. Overall the portfolio has exhibited an average of 2.8 trades per day. I have not yet received my 50 EA’s for July. However, once I receive them I will examine each by running them through the MT4 Strategy Tester and catalog the results as I have shown for the June EA’s in a previous post above. I may at that time make a few changes to the portfolio. However, the EA’s from my June selection I will continue to leave in the portfolio for another month as long as they continue to perform well. As for the lot size, once I feel completely confident in the performance of this portfolio I may increase lot size slowing in 0.1 lot increments. My overall goal would be a portfolio that increases by 1% per day. Over the last 10 days this portfolio has increased by 0.54% per day. Not bad for starters.
I will update again next weekend…
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As promised I am updating the results of my EA Portfolio. This portfolio consists of 10 EA’s with each EA in a separate MT4 terminal. This portfolio is now 19 days old. This week the portfolio resulted in a small loss of $57.71 or -0.8% of portfolio balance. Up until this past week the portfolio had generated a nice 5.5% profit. I contribute the losses this past week due to the bad economic reports from CPI and PPI. I believe the results of this portfolio of EA’s will improve with time as more trades take place.
This past week I also update the portfolio with the July EA’s. Two of the MT4 accounts still had open trades in progress so I did not update these two accounts until these trades were closed.
The attached PNG file shows the status of the portfolio to date. This month I decided to show the Strategy table sorted by the profit column. One note about the totals of each column is the profit factor of 0.88 is not really accurate as several strategies don’t have any losses and therefore the profit factors cannot be calculated.
I will update this portfolio again at the end of July…
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Hey Alan,
The CPI that came out is crucial as it is higher than expectations. And it comes at a time when the FED is increasing rates.
So we can not really do a lot in such situations.
Sometimes such news affects positively the portfolio if the opened trades are in the lucky direction! :)
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Petko: Hopefully my portfolio of EA’s will do nicely between now and the next time CPI and PPI come out again in August. NFP Friday may present a nickup but I will trade through it. like you say sometimes these reports will go against the portfolio and other times go in its favor. Over the long term I would think the portfolio would come out the winner.
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