Management of robots

[Anonymous]

Hi there Petko,

Thanks so much for putting together the 21-day program.

My question is about how you manage the bots in later stages of setting them live. What are the criteria you use to keep them in the live account and when to pause them? After x losses or x $ in losses or? How to know when you have to optimize a robot for the current market conditions?

Thanks!

[Anonymous]

The answer to your question is found in the “Forex Trading with EAs + 30 Best Strategies” course that you can download and watch on Day 3 of the 21 day course. Basically what you do is wait for 5 days after you start trading the Portfolio’s then you look for the strategies that have produced losses and have 5 or more trades. These trades are then eliminated from the portfolio. How to do this is explained in the course you are to watch on day 3.

[Anonymous]

Hi Alan, thanks for you response. That part I did understand from the videos, but I mean all robots stop working at one point in time, how do you decide in this case when to eliminate one from your accounts?

To clarify with an example: the robot does not make 5 losses and you leave it running. After a while it comes into a losing period, or it stops performing all together. What criteria do you decide to eliminate it for good? Let’s say it’s done 20, 50 or 70 trades and it’s profitable, but then it starts losing. You don’t want it to lose all of its profits before turning it off, so what is the criteria for a bot that is already running for a while?

Thanks!

[Anonymous]

Or, for that matter, when to re optimize them and how to re optimize when a robot stops performing

[Anonymous]

Hi Sam,

I wouldn’t try to re-optimize a robot that is no longer working.  It is better to create a new robot that works under current market conditions.  This can be done using EA Studio.  Having said that if you are just going to use Petko’s 3 Portfolios and not use EA Studio what you will need to do is just eliminate the EA’s that are not working and wait until next month when Petko uploads the new portfolios then the new portfolios will replace to old ones.

 

[Anonymous]

Thanks for your reply Alan, makes sense!

[Anonymous]

Hey Sam,

I usually remove the Robots if the Profit Factor drops below 1.2. If you let it run until it drops below 1.0 it means you would have more losses than profits.

[Anonymous]

Hi Petko,

Thanks, this is helpful!

[Anonymous]

Hi

Can someone assist me with the proper parameters for the USDJPY [M5] EA or the preset file… I am totally confused.

Thank you in adnace!

[Anonymous]

From which course are you referring too?

[Anonymous]

I have the same request for the GBPUSD [M1]

[Anonymous]

200K Account: Amount for new position = 6.0 / Maximum position amount = 6.0
100K Account: Amount for new position = 3.0 / Maximum position amount = 3.0
50K Account: Amount for new position = 1.5 / Maximum position amount = 1.5
25K Account: Amount for new position = 0.75 / Maximum position amount = 0.75
10K Account: Amount for new position = 0.30 / Maximum position amount = 0.30

[Anonymous]

And that is if you want to risk about 1% per trade. It depends on what is your risk tolerance.

[Anonymous]

I am referring to the  FREE 21-Day Online Program

[Anonymous]

We avoid recommending trading lots. It is a personal choice with how much one will trade.

Start with 0.01 Lot on a Demo account and increase it until you feel comfortable with the risk.

[Anonymous]

I have a question about the +30 EA Strategies (3 Portfolio EA’s) Do I constantly replace all the portfolio EA’s each month or do I slowly eliminate the losers of the previous month by monitoring the results then add the new 3 portfolios to Demo 1 for monitoring in addition to the previous month(s) strategies? Thank you!!

[Anonymous]

You can do it any way you chose.  You could also keep trading the old and the new portfolios in a demo account.

Alan,

[Anonymous]

I also have to add that I’m taking the very top performers and adding them to a 2nd demo

[Anonymous]

I think this is a good plan!

Alan,

[Anonymous]

Appreciate the fast response Alan. Yes, so far I have eliminated 2 losers from November strategies as they have reached 5 trades with loss. Of the 28 left I had 6 that were moved to demo 2 while still testing all 28 on demo 1 still. I also added the Dec strategies to Demo 1. I added Dec to the title so I can tell them apart and also changed the base magic number so I can track properly.

[Anonymous]

I think you have a good handle on it.  Keep it up!

Keep us informed on how your trading goes!

Alan,

[Anonymous]

Will do! Thank you!

[Author]

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