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i would like to ask what is the difference between Forex robot and expert adviser? I am quite new in this field and I have already Fsb Pro but i am quite confused when i export strategy from there is it a Forex robots or it is expert adviser? I see that Petko is never mentioning Forex robot, but i have met it already many times around, so is it sth different or its the same?
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The true name is Expert adviser. Forex robot got popular from the sales men who actually are selling expert advisers but calling them Forex robot. Why they do that? Because they promise to the people that once you buy it, it will do the work for you, it will make you up to 85% on a single trade, its fully automated and so and so on.. Basically that all is not true.
The name is Expert Adviser, for a reason. It is a tool that automates your entries and exit rules and conditions for the strategy. That all it is. Its giving you signals or entries. But you need to use your experience about the trend, about the moment you are using it, about the Fundamental news that are coming up etc.
Basically it is adviser, not a robot. The word robot just misleads the people that when they buy one expert adviser they will put it on the platform and it will make money for them consistently for years…don’t expect that.That is why in the course Top 5 Forex Strategies i explain clearly that these Expert advisers are the automated version of the 5 strategies. You need to find the way that you will use it or not use it at all. We do our best to maintain them as stable as possible and we do see positive results on the end of each month so far, but as you know past performance does not guarantee future success.
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Hello Desita,
I think that there is no difference between Forex robot and Expert Advisor..
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Long story short, Forex robot is the slang, and the correct name is Expert Advisor.
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So far I was thinking that expert advisor is a human being. And the first time I saw some your courses with 99 expert advisors, I was really frustrated :)
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Hey Casandra! :)
You made my morning smiling :) We can not afford to provide 99 Human trader to each course to each student..
Now seriously, the expert advisor actually does much more than a human:
1. It does not get tired and trades all the time
2. It catches each trade when all trading conditions are met
3. Does not have emotions which is the main reason why traders lose in manual trading
Cheers
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Hey Petko, you are right about that. If humans trade it will be impossible to have portfolio of strategies.
Imagine for one day trading with 2-3 strategies you will need 3 people trading 8 hours each.
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I do not know why I traded so many years manually….really I feel pissed off that I lost so much time and money…
Anyway, in the same time I feel very motivated with EA Studio and the courses from Petko. Thanks so much!
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Hey Andi,
Glad to hear my courses motivated you.
Do not worry, most of the students that take the courses has traded manually and lost some money. This is the usual way people find the algorithmic trading…unfortunately. I hope with the time it will get more popular, and the beginner traders will start with it.
Kind regards,
Petko A -
Hi Petko,
You may have answered this question in the course, I’ve gone back through it but can’t see.
My question is with each monthly release of the EA’s are they updated versions of the previous month or totally new ones?
Thanks
Chris. -
Hey Chris,
I am not sure about which course you are asking – the 99 Forex EAs, 99 Bitcoin EAs or the 99 Ethereum EAs, but for the three of them I create new EAs every month.
So the new EAs that come are totally new and different.
Now, to make it a bit clearer the courses with Top 10 EAs for the EURUSD, GBPUSD and USDJPY, I update the EAs every 2-3 months when ever it is needed.
Let me know if there is something else.
Kind regards,
Petko A -
Thanks for the information Petko!
I have all of your courses which are great!
I was also thinking that you update the 99, I did not know they are different…that is amazing!
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You are welcome, Haliffa. New courses are coming after the new year, more advanced courses.
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Good day, Petko.
With the EA’s that you generate in your courses, you mentioned that you generate the average parameter values for different brokers that you used in generating the strategies so that the EA’s would have the similar performance for many brokers (although not all). Given that,
a. What are the things that we need to do inorder to check whether the EA’s would perform well with our broker? I’m assuming that we upload the EA’s onto the softwares (EAS/FSB), import the historical data of our broker, and see whether there is a (huge) difference or not in the performance. Am I right by saying this? Are there some other things that we need to consider aside from what I’ve mentioned?
b. Suppose the EA’s are not giving a similar performance with the historical data of our broker, what do we need to do inorder to arrive at a similar profit line relative to your backtest when you initially generated the strategies? Should we optimize the EA’s?
c. May I know which brokers you used in generating the strategies, and thereafter, coming up with an average value of the parameters found within each strategy?
Cheers,
Jay-R
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I had the very same question to Petko during one of the 1:1 sessions with him( I did a couple and they were all very useful).
One of the ways is exactly what you said – import the data from the other broker and check if the equity line is similar or not. It you see totally different results, you can really do a lot. If you optimize it, there is a risk of over-optimization.
If you want to take average values for the parameters (what Petko did) you need to switch between the different data sources, optimize with round numbers and acceptance criteria, and take the average values.
Let’s say the SL with one of the brokers is 80, with the other is 70, and with the third is 40. You will take average SL of 66.
That is a lot of work that I tried as well, and I figured out that I really do not need to do it for myself because I use just 2 different brokers, and I generate separate EAs for each one.
Petko does that because he provides many EAs in his courses, and he aims at providing EAs that are suitable for everyone (even that is quite impossible according to him). However, I am very impressed that he does it anyway.
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I see. Yes, that’s what I guessed regarding optimizing the strategies—having the risk of over-optimization.
With regards to what you’ve mentioned that I can still do a lot more things if I get to see totally different results, would you mind expounding on that? I’m interested to hear what your thoughts on that.
Yes, what Petko is doing is very commendable when it comes generating the EA’s for the courses that could be potentially used for different brokers.
Kind regards,
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Hi Jay-R,
My bad, I wanted to write you can NOT really do a lot. :) Just missed the “not”.
Yes, if the results are different, it means that Historical data is different and the brokers have different quotes/prices at any moment. So you can not do a lot on that…
Kind regards,
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It’s alright Bart. At least, the good news is it’s lesser work to be done. Lol. I’m kidding. I love working =)
Cheers,
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Keep up the hard work, guys. That is the only way to success.
Many people think that Algo trading is lazy work, we put one EA in the account, and it makes us constantly profit. Well…that is not really the reality. But when the hard work is done, the results are coming.
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Would results differ from one broker to another. I have loaded the EAs you provided in one of the course on 2 MT4 platforms. One from FXTM and the other from JFD. What I’ve seen is that different trades are opened at different times. I have attached a screenshot of the platforms side by side. Have I done something wrong?
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Hey Ilan,
I see that the EURGBP trade opened at the same price (2 points difference is normal).
It also opened at the same bar.
But thee different hour comes because the two brokers have different server time.
You can see below the candles the last hour is 16:00 with FXTM and with JFD it is 15:00.
You can see the server time on the top of the Market Watch as well.
Cheers,
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Thanks Petko, that makes sense.
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You are welcome! Let me know if there is anything else.
Cheers,
Petko A
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Hi, I am new to the forum and use of EA Studio. I am wondering if it is possible to generate EA with Buy Stop/Sell Stop instead of Buy Limit/Sell Limit orders. Thanks.
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Hello Thomas,
Welcome to the Forum!
The EA Studio works on the current market conditions. This means that all strategies open the trades when the entry conditions are met. For example, when 2 moving averages cross each other. When the next bar opens, the trade will be executed.
Using pending orders is popular if you are using Support and Resistance or price levels. But when using indicators and there is an event (crossing of the MAs) which will place a Pending Order, the market could change until the Order is executed.
In simple words, the EAs that are generated with EA Studio trading at the moment according to the current market. And this is how it should be.
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Kind regards, is it possible to apply to the funding tests with the robots that the academy sends us?
What is the profitability of the robots that the academy sends us?
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Hey Juan,
Glad to hear from you. Can you make your question clearer?
First, we do not send EAs to anyone :) And second which EAs you mean, and what do you mean by “funding tests”?
Cheers,
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Hi Petko, thanks for your answer. Sorry for my english.
I am talking about if I would have the plan ALL ROBOTS BUNDLE ALL FOREX & CRYPTO EAS + MONTHLY UPDATES 644 robots. With these robots could I aply for TopstepTrader, Leeloo Trading, Earn2Trade, etc. in order to get an account whit money.
Also, what is the profitable of these robots??
Cheers.
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Hello Juan,
You can use the robots for any purposes you want (only not allowed to sell them).
The performance is different every month. That is why we do not put the final performance results – there is no guarantee that next month it will be better or worse.
Also, our method is the following:
- We put the EAs on Demo accounts and follow the results
- Select the winning eas for the current market conditions based on specific rules
- Place on Live account just the Top performers
- Kepp trading on Live the EAs that perform best on Demo
So the results are different for everyone – depends on the brokers, on the system you follow to move the EAs from Demo to Live, and vice versa.
But yes, you can try the EAs on any contests.
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Hey Petko!
I’ve been trading with your Forex EA’s for a couple months now. they don’t seem to be moving very much.
So I was wondering, if I wanted to earn 30-40% profits each month, what would you recommend?
Which of your courses should I do?
How much do you think I would need to start with? and what risk should I be taking?
Thanks! :)
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Hey Dstoykovic,
Yes, the percentage depends a lot on how much of your trading account you will be using.
For example, if you start with 3k account and you trade 10 EAs each 0.1 is one thing, and 3k account with 10 EAs 0.5 lot is a different thing (just example).
In the second option you can gain much more with the same EAs but at the same time, you have a bigger risk.
I can not suggest you starting amount or risk, that is up to you.
If you want me to give you some tips let me know the following:
1. How much you CAN start with?
2. What risk you are willing to take?
3. Which EAs did you trade and what rules you followed to move them to separate account?
Regards,
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Hey Guys,
Wondering what everyone else’s experience out there is recently with EA Studio and the current Russia-Ukraine Crisis. My EAs that were pretty consistently winning before this are now losing. Using the usual tracking performance on demo and sending the top performers to the live account is no longer generating profit during this period, and they almost immediately start losing money.
I think given the current circumstances it is very normal that is is occurring as my strategies were generated on “normal” market conditions and right now everything is very unpredictable.
Are most people also currently experiencing this? I thought it may be useful to share what techniques people may be using or testing to adapt to these changing market conditions.
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Absolutely! In times of war or uncertainty, we can expect losses or even storage profits.
The EAs were generated and tested on ‘normal’ market conditions, so when there are wreckless moves on the market, the SLes and TPs might get hit in no time.
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Hello all,
I need some advise on managing the live EAs
Do you guys just keep running your live ea until it is below 1.2 pf and then remove it from your live account, until its profitable again?
Do you look for the performance over the last couple days/weeks?Do you look for the profit factor over the period over the past week/month or over all the data?
Do you just keep EAs running on your demo for a long time to see when its profitable again? or do you use the validator for that?
Any input is much appreciatedKind Regards,
Paul
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Hi Paul,
Using the validator OR fxblue is fine for managing the EAs but once they are on demo I would recommend using fxblue personally.
As to your question about how regularly to change the EAs. I can only say what personally make the most sense to me at the minute and that would be to look at BOTH its performance over this life of its time on demo and a shorter period such as week and make your decision based on that. IIan in one of his courses uses a month and a week which is also sensible.
It would also depend on the timeframe as I would be looking to change M15 Ea’s more regularly that H4 EA’s for example.
Hope that helps.
PS Of course I hope you mean a mock live account (i.e second demo) rather than a live account right?
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I am new to using EA’s myself but I can share my plan with you. I get 50 updated EA’s from the “Top 10 EURUSD Expert Advisors: Top EA Forex Trading” course I took every month. I have put these 50 EA’s in a demo MT4 terminal. I then did the strategy tester on each one of them using all the data history I have (two months worth) which I believe to be sufficient because I am only interested in the recent performance of these EA’s. I then recorded the results of EA’s that had PF greater than 1.2 and number of trades greater than 2 and graph showing an upward trend. I then sorted the list by Greatest profit to the least profit. I then selected the EA I want to use by the greatest profit. It seems to me that I want to pick the EA’s with the greatest profit over the last two months regardless of the number of trades or the PF. I may change this opinion over time but for now this is my plan. Since I am running 10 MT4 terminals I then select the top 10 EA’s making the most profit.
Now how do I plan on managing these 10 EA’s. Every weekend I will run the strategy tester on the 50 EA’s in my demo account. I will then update my spreadsheet. Next I will run the strategy tester on the 10 EA’s in my MT4 live accounts and review the graphs. As long as these graphs continue to trend upward and making good profit I will leave them. The EA’s whose graphs are starting to point downward I will replace with EA’s from my spreadsheet. I will update my plan as needed as I continue to gain experience trading EA’s.
I hope I have made my plan clear enough, if now ask questions.
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Hey thanks for the replies guys,
I am trying to automate the managing part with excel, so far that part went well. The performance however did not.
I export my trades with an ea I made and import it to excel. then I can calculate profit factor on different timeframes (weekly, or monthly or total).
Then i export a list with the magic numbers I would like to be traded to my mock/live account.
Biggest problem I think I have is that the ea will perform well and gets on my list. But then it trades badly, and drops off my list. So I mostly got the bad trades, while I was trying to filter the cherries. Also I noticed I was just dropping alot of ea in the demo account, maybe it is too much and I should aim for quality over quantity.I tried updating my excel every 5 minutes/hourly/daily and weekly, but most times it gets in negative once it goes live.
So maybe I will try if I can see if an ea is “trending” like you are trying, but I think I have to go back to the drawing board for that.
Also I will focus more on the course ea’s I think. -
So far my portfolio of EA’s is doing good but I only have 6 days of trade results so far. I will be showing the results of my EA Trading Portfolio consisting of 10 EA’s this next weekend on the following forum: How to Select EA’s to Use?
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Thanks for sharing your experience, guys. That is super useful for the beginner traders!
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Hi Guys, i am having the same problem as Paul describes. For a few months I have tried many things: using Petko’s EAs from courses, generating my own EAs following the courses, and generating my own portfolios using my own methods. I have also used many different method to manage these EAs and transfer to Live (mock using demo account). I have tried selecting top X performing from demo and moving into live, using the validator to analyse performance of last 6 months, directly placing portfolio and removing poor performing ones.
The problem is that I cant generate profits on these mock live accounts no matter what methods I use. For about 2 months from January to end of February I could consistently generate profits but since then nothing seems to work.
I wonder if others are also struggling more recently to generate profits compared to before February?
Any suggestions on methods are are working for some?
Thanks!
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Hi Jezen,
It’s definitely been a tough spell for trading. What assets have you been trading?
Including some additional EAs in your incubation demo accounts that not only worked well over your full backtesting period but also also performed best over the most recent few months could be good idea.
I have been putting a higher emphasis on recent trading months performance in EA generation which worked well last month. Ie a shorter OOS and better OOS performance than I usually use.
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Hi Samuel, thanks for your response.
I have been mainly trading the most liquid forex pairs, i.e EURUSD, GBPUSD, EURGBP, EURJPY, GBPJPY, USDJPY. Focusing primarily on M15 and H1 timeframes as that is what is most recommended in both the forum and by Petko (However I have also tested M5, M1, and H4 timeframes with worse results).
When it comes to generating strategies I have tested varying the OOS to accommodate for multiple scenarios where the start of the OOS period is both well before, after, and roughly around the date where I noticed profits started disappearing (towards the end of February). Neither of these worked better that any other (at least nothing significant). I guess the next thing I will try will be to generate strategies with higher OOS criteria as you mentioned, and only select those that worked best from the period since February.
Would you recommend any particular assets or timeframes that you have found success with since February?
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I actually found the JPY pairs worked pretty well. It would be interesting to hear from Petko but to my understanding he has found gold to be pretty stable also.
Sounds sensible what you are doing with pairs and timeframes so hopefully you have some better success shifting a little weighting to recent performance as discussed. Again I will be interested to hear from Petko on his thoughts soon :-)
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Hi!
Reading around the forum here and starting to work with EA Studio and get some robots running, I started to think about… what settings, parameters etc. are you guys out there using? I know that many things can vary between brokers etc, but I would love to hear from some of you who are already profitable come , what is your workflow/process?
Do you create new robots everyday on a short timeframe? Use Petko’s pool? or maybe create new robots every month with monte carlo and nomalization and don’t look back?
Thanks in advance for sharing!
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Petko’s professional EA algo course describes in detail how he creates his profitable robots. I use his method all the time. Sometimes I modify it by selecting 10 strategies instead of two and put them in a portfolio. I also use his balanced portfolio method all the time. The other thing I do is to recreate new EA’s/robots once a week instead of once a month. I did some backtesting and it shows that overall profit is greater when EA’s are recreated once a week. Hope this helps! If you want to ask me more questions, I will check in once a day and do my best to answer them.
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Good stuff Alan, I found that following that method worked well for me also. However I prefer generating less often and allowing EAs some time on a demo account and then moving them from there as is done in most of Petkos other courses. Many things work, mostly it’s about gaining experience through practice in my opinion.
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Thank guys! I appeciate you taking the time to reply.
I did indeed take the Pro course already, so I’m glad to hear that others are using this strategy with success.
@Alan: Great, thanks – a few followup questions…- When creating your EAs, do you adjust the trading times to the market hours, like in the (Forex Expert Advisor course – London, New York & Tokyo Algorithmic trading) course?
- How far back in time to you base your EA creation?
- And do you run any of the optimization and robustness checks?
- When doing the 6month/1month validation, do you then only use your newly created EAs or all of your previous collections for that pair/time as well?
- In the pro course, Petko mentions that using he’s method, you would not need to do Demo trading as well. Do you see better performance when running on a demo for a while and filtering out EAs first?
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Hello Petko Aleksandrov,
Hello everyone,
I’ve used the expert advisor studio for 2 weeks.
Impressive thing I give you that. The only thing is that I could not choose any parameter for short (entries and exits.)
The best I did, in theory, is actually pretty good (I think): with a profit factor of 2.34
But he acts crazy on mt4 and different on mt5, And the results are quite different.
On the eatradingacademy.com the behaviour of the ea was quite predictable whilst on different MT demo accounts it wasn’t.
Just wish I had more time. Since the price to unlock it is quite expensive. (not saying isn’t worth it, maybe it is) I can’t really at this moment to continue to test and create new EA’s.
Thank you Petko Aleksandrov. (I’ve subscribed to your youtube channel. And I’ve also been testing your recommendations there.)
All the best everyone!
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There is still a lot you can do with EA Studio after the Trial period is over. Some of the things you cannot do is to import historical data from your broker so you have to use the premium data. Also, you cannot export EAs or create portfolios. You can however, import some of Petkos EAs and analyze them and you can practice creating strategies. So, as I said, there is a lot of things you can continue to do with EA Studio to continue to evaluate it! So, don’t quite. As you continue to gain experience with EA Studio you will begin to see how valuable of a tool it is. As for not having good experience using Petkos EAs with your own broker, there could be many reasons why you are experiencing this issue. Keep communicating on the Forum to get your issues resolved!
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