How to set EA to buy only in Metatrader 5

[jammerly]

In Metatrader 5 there is no “common” tab which allows you to select buy only, sell only, or buy and sell.

The EA for Bitcoin Trading Robot is set by default to buy and sell. How can I change this?

[Petko Aleksandrov]

Hello Jammerly,

Yes, that is not available actually in MT5. What you can do is to upload the Expert back in EA Studio and add the indicator Long or Short.

Actually, that is a great idea for an update in the course. I will do it tomorrow and update the course.

Cheers!

[jammerly]

Thanks for the quick reply. So I guess then it is better to use MT4?

[Petko Aleksandrov]

Hello Jammerly,

well, personally I prefer to use MT4. There are still many bugs in MT5, and most of the brokers with MT5 do not allow hedging.

And actually, I can not update the EA with this indicator Long or Short, because I can make it open only in one direction. For example, only long.

The idea is the traders to choose the direction according to the trend at the moment.

Kind regards,

[jammerly]

Petko,

For some reason I am unable to log in to the forum to post a question. I log into my account but when I go to the forum I am somehow logged out and when I log in takes me away from the forum. It is happening on multiple browsers.

The only way I could access the forum is by replying on an old message.

My question is about EA Studio and commission.

When you input commission are you putting in commission for just one side of the trade or for round trade.

When going through another forum I saw that Popov gave two different answer.

One person asked about commission and gave an example of say .135% per side commission and wanted to know what to put in. Popov said to put in the $ value for the .135%

In another post when asked about spread Popov told him to make a open and close a trade and record the total commission and input it.

Just wanted to get a clear answer on this.

Thanks.

[Thapelo]

I personally put the commission that I see when opening a complete lot. I don’t think if the broker charges two times, that is a good sign. Most probably the EAs will fail with such a broker because the costs are high.

[Petko Aleksandrov]

Yes, usually the broker will charge you just one time a commission, and that is when you are opening the trades.

However, make sure to check that anyway it might be too expensive to use such a broker that charges twice per trade.

[Animti]

Hi there, I’m new to EA Studio, but some how I cannot log in forum, the only way I can post is reply to a post here.

Anyway, I’ve notice there are difference between backtest and live orders.

For example, I set up an account in Aug 31, there is a SELL order, which resulted in loss.

However in backtest, there was still a BUY order during this period, and resulted in win.

Is it normal, I mean if I let the EA run for a while, can it match up with the backtest result? Or is there a way to make sure live account can have same orders with backtest?

 

 

 

 

And one more thing, can you guys help me with my EA generating strategy:

 

Pairs: EURUSD, GBPUSD, EURGBP

Timeframe: 15m

Min orders: 300

Profit factor: 1.2

Profit: $10

OOS: 20%

Profit factor in and out of sample: 1.1

 

My plan is to generate as many strategies as I can, then use top 33EAs for each pairs, then replace them using FXBlue when profit factor after 5 trades is below 1.2

However, there are lots of ups and downs, for example, they can win a lot in row, or lose a lot. And GBPUSD EAs seem to open orders in the same direction quite often.

 

Is there a way to make my EAs more diversified, I mean there’s no point using a lot of EAs for one pair then they open the same direction?

Thank you

[Animti]

I cannot post pictures in one reply  so I will post them here

This is my trading account, as you can see there is a sell trade in Aug 31

[Animti]

This is in backtest, as you can see there was already a BUY order, which was a win during the period 31 Aug

[Animti]

This is my results, a lot of losing orders in a row, a lot of them are GBPUSD buy

[Animti]

And a lot of WIN, also mostly from GBPUSD

[Petko Aleksandrov]

Hey Animti,

Welcome to the Forum!

When you do a backtest it shows all trades from the starting date.

When you place the EA for trading, it starts from the moment you place it. And during this time on the backtest might be a trade. That is normal and logical.

It will take a few days or weeks for the trades to start matching if you are testing on the same broker and Historical data.

You can diversify the strategies in your portfolio by creating different strategies. For example, you can use different SL and TP range.

In other words, when you set the EA Studio differently, it will generate different strategies.

[Animti]

Thanks for your advice, still I’m a bit confused here.

Normally, I will update my EAs once they reach 5 trades, however as you said it can take days or even weeks for the EAs to match backrest.

So I’m thinking about updating every week or two, do you think the EAs are still ‘potent’ after a one or two weeks?

I’m just afraid that they will start to lose after a period of time…

[Petko Aleksandrov]

Hey Animti,

it really depends on the market, the asset, the strategy…

Sometimes you need to be flexible and act faster with some of the EAs, sometimes you need to wait a bit longer.

But, yeah, definitely testing the EAs for longer is not a bad thing. It does not mean that they will start to lose.

[Animti]

Hi, I’ve noticed that my EAs often close with losses in low activity time (late NY or Asian session) or in range market like today, is there a way to create EA that have a more consistent result. Thank you

[Haliffa]

Try not to make conclusions after a few trades or days.

Also, it is easy to see what happened but we never know when there will be volatility or not.

Each EA has its moment and its downs, but if you follow the results in FX Blue you will know when the EAs are in their profitable periods.

[Animti]

Thank you I’ll keep that in mind

[Petko Aleksandrov]

Hey Animti,

Yes, it is better to wait a bit longer so you can see the results.

Also, you can set trading hours from EA Studio settings. Do not hesitate to experiment.

[Animti]

it’s great to get help from you guys, such a genuin and  generous community

[Animti]

It would be really helpful, what the typical drawdown for 99 EAs for 3 pairs (EU,GU,EG), because I’m planning to use them in my live account, can you give me a rough estimation or is there a way I can get it through backtesting

[Animti]

What the typical drawdown for 99 EAs for 3 pairs (EU,GU,EG), because I’m planning to use them in my live account, can you give me a rough estimation or is there a way I can get it through backtesting

[Petko Aleksandrov]

Hey Animti,

I would suggest you first test the EAs on a Demo account and create your system for managing the EAs.

You can see the drawdown from the backtest but it won’t be realistic because at the end of the day you are going to trade the top EAs from all the 99. So you can’t say which EAs you will use.

When you select the top ones, for example, two from each currency pair, you can see then estimated drawdown.

Also, it is important to keep an eye on the Demo and the Live account so you will be trading the profitable EAs all the time.

Cheers,

 

[Animti]

Thank you for your advice.

 

[Petko Aleksandrov]

Sure, let me know if there is anything else.

Cheers,

[Author]

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