Question about Cryptocurrency Algorithmic Trading + 50 Robots Monthly

[Anonymous]

Hello Ilan,

 

I almost finished your new course about Cryptocurrency Algorithmic Trading + 50 Robots Monthly.

You mentioned somewhere that we always can ask questions and contact you. Don’t know if this is the right place for that.

 

I got one thing for improvement I guess, or I just missed it in the course.

In the video of “Setting up FX Blue Account”. At minute 5.30 you say that you can make up your own password.

But that password needs to be your MT4 or MT5 investor password of your broker account. Wich you can setup in MT4 or MT5.

Beneath you can deselect “Use my MT4 account number and password as my FX Blue username and password” There you can make up your own password.

My problem was that FXBlue kept giving me the message that account sync failed. Untill I figured this out.

 

Also, maybe for the beginners to mention, which is me, those robots you create and let run for a week, do not work open any trades when you turn off Metatrader. So I turn off my pc when I leave for sleeping or excercise or something. So I don’t know if my results will be reliable now. I think I better setup a VPS.

Raymond

[Anonymous]

Hi Raymond,

Good to hear from you.

I’m surprised to hear that you had issues with the password and syncing. I have set up about 100 FX Blue accounts and have never had that issue. I also teach this in all my courses, and have never had any student comment that they had difficulty. Thank you for bringing this to my attention. I will certainly mention it in my future courses.

 

And the point you make about turning off your PC is valid, and again, I will mention it in future courses. For your own info, the EAs that have opened trades, will remain open until the TP or SL is reached, even if your PC is off. However, if your PC is on, it can close trades when TP or SL is reached, but also if the exit conditions are met, as per the rules of the EA. But yes, it won’t open trades, because the EA resides on your PC, not on the broker’s server, so in a case like yours, where you turn your PC off, I agree a VPS would be best.

 

Thanks again for bringing this to my attention. I always appreciate intelligent, solid advice.

 

All the best,

Ilan

[Anonymous]

Ilan,

 

Thanks for the reply. I bought a VPS now. Setup some demo accounts at three brokers and let it run.

I want to see what broker has better spread and swap in general. Also different hedge levels and see what it does. Cause that is a really tricky part of it. Also I try to put the starting capital very low, like 1000USD since that is more realistic for when I change to a live account.

 

I opened a demo account with pepperstone, like in the course. But the robots won’t start there. Simply because pepperstone has a 1:1 hedge and a minimal volume of 0.1 lot. So that is already 5500USD at the moment for only one order. So 1000USD is never going to make it. Also half of the robots have a lot of 0.01. So they cant come through here as well.

I also opened a account with IC markets with 1000USD. The hedge there is 1:30. But still at a very soon my margin comes in the 50% zone wich is dangerous for stop outs. I also saw a message in the journal that some orders fail market buy/sel 0.1 BTCUSD (no money).

I also opened an account with FP markets. They do 1:100 hedge and automatically put me on 100.000. Up to now that one is not giving any problems. Marge level is average 250% – 350%.

 

So my questions are

– Do we need to follow the 0.1 lot if the settings of the EA tells us that 0.1 is the lot for that EA? Or can we put it to 0.01 to minimize the risk and marge level. Lets say we all change them to 0.01 lot.

– How much money in the account is needed to not miss out on trades, not risk a stop out? And also what is a good leverage?

 

Raymond

 

[Anonymous]

Hi Raymond,

No, you definitely don’t have to follow the 0.1 lot entry rule. When you place the EA onto the chart, and go to the Inputs tab, you can change the entry lot size to one that is more suitable for you.

In terms of how much money you need in the account, this would depend on your trade sizes. I would just suggest to start small, and employ good money management. In terms of leverage, my personal preference, and what I trade is 1:100, although this is not a recommendation. Again, I would recommend you practice different leverage on demo accounts until you find one you are happy with.

Thanks,

Ilan

[Author]

Posts