TRADING EA’S MENTTORING- HELP

[Jaroslav Simon]

Hello guys. I already wrote a few comments and questions. One I wrote on Petko’s YT also but from now on I chose this forum for being more appropriate with my question and near the people they really understand this technique.

SO. Few weeks ago I bought first course. As I am trying to trade for some time (nothing significant until now) ON January I discovered the EA’S and it’s magic to open trades without you. Fortunately I got colleague who is “PLAYING” with this. I say playing becasue that is really what he is doing with his account but somehow he is in profit. I am not such a playing kind so I was looking for more serious bussiness trading. Accidentally I found Petko’s and Ilans courses. Firt one was Forex MetaTrader 4: Live Algorithmic Trading + Weekly Robots  narrated by Ilan. I was thinking…….this is great….and put firt 12 EA’s from Ilan into my Demo…..Well few day later there was another offer for Automated Forex Trading + 99 Expert Advisors Every Month and last week I also gone through the GOLD strategies….This means I have now about 160 EA’S testing on my demo accounts.

Somehow I’ve been thinking that they will explode the demos but this is opposite . Demos have lost about 20% from it’s account…Well yeah this is only testing. BUT

After 2 week of testing I chose some of them and put them into live account. Actually……I doo this as followed

1. I downloaded monthly performance in excel file from FXBLUE and looked at NET PROFIT those over 100 and more than 5 trades and PF over 1.4 were added to manage excel.

2. I downloaded Weekly performance in excel file from FXBLUE and checke if those with motnhly performance are also in weekly performance is the same except the minimum amount of trades.

From that part….I am losing. Constantly checking…analyzing still changing the loser with winners…performance analyze for all periods….but I AM STILL LOSING MONEY.

The worst thing is that I have no more ideas what to do. The EA’S are buying against the bear markets constantly. EUR JPY M15 86879148/86879150/61251095 that was all lost during one night. At this moment 2 trades open EUR/JPY M15 – 86879148 and GBP/JPY 61421597

I have mixed the portfolio from Petkos and Ilans EA’s provided in the course. Tested and analyzed as the winners for last period

EURJPY H1 61251095

EURJPY M15 86879148

EURJPY M15 86879150

EURUSD M15 87543222

GBPJPY M15 61421597

 

Those are top chosed yesterday on 24.2.2022 and again….losing money….COnstantly losing money evend after analyzing markets…..why guys? Jesus crist I lost almost 30% of my account and nothing changed. I am analyzing changing…but nothing works. it is still eating my account alive. I have account in Romania – ADMIRAL MARKETS.

 

Please…Help….What am I doing wrong?

[Petko Aleksandrov]

Hey Jaroslav,

Glad to hear from you, and welcome to the Forum.

1. You need to check if your broker offers the same trading conditions on Live and Demo. The first thing I do with a new broker is to put a few EAs with 0.01 and see if the trades match. If they do not…change the broker. I personally stopped using Admiral many years ago because of their high spreads. But that is a personal choice.

2. Do not hurry with a live account. Use a second Demo account until you find yourself comfortable with analyzing and moving the EAs from Demo to Live (second Demo).

3. Honestly, you hit one of the worst periods for Forex trading during the volatile markets (dues to Russia – Ukraine war). In times like these, I pause the trading. Why? Because the market moves not because of a normal supply and demand thing but because of news and speculations.

And the EAs are generated based on a backtest that was not during such market conditions.

[Samuel Jackson]

Hi Petko,

I am wondering how long you intend to pause trading?

I have paused also but my plan is to run some backtests over the past 2-3 weeks soon and see how things would have performed and then provided results are okay then start again, does that seem a sensible approach?

Also 100% agree with your advice above, definitely a rough patch for trading but regardless Jarolsav it sounds like you have been stung by being impatient (as I have been several times so not a criticism at all :-).

BUT you clearly said that you traded demo and lost 20% and then moved straight to live from that point? That is the main issue I see really, take more time to practice and once you have made some profits in your demo account then that is a sensible point to try moving to live (start with small money though)

Can’t think of many things worthwhile that take only 2 weeks to master, keep practicing and I’m sure your results will improve though 😉

[Petko Aleksandrov]

Hey Samuel,

Yes, it makes sense to backtest the last few weeks, and if you see the EAs doing well, you can keep testing/trading.

What you said is correct. I see many traders rushing into live. Many never step on a Demo at all.

This comes from the many scam brokers, websites, and services that promise profits with a single EA. And many start to believe that one EA will make them millionaires.

Even if someone hits many times into a scam and loses money, they start to think, ” Alright, this was a bad choice, but I will find the one EA that is profitable all the time.”

We all know that with one EA, we can not accomplish a lot, and it takes so much time to test and find yourself comfortable with the profits you are making by trading many EAs, only many markets, on many different timeframes.

 

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