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This first graphic shows the balance line of the top 4 selected EA’s over the last 14 days.
This final graphic shows a nice calculated monthly return of 9.0% based upon the last 14 days performance.
Today I replaced three of the EA’s with new EA’s selected from the pool of EA’s and kept one EA. The EA’s selected from the pool were the top performing EA’s for each Symbol based upon their performance over the last 30 days. For this next week the portfolio will continue to contain four EA’s.
I will continue to monitor and make necessary updates to the EA’s in the porftolio for one month. This one month testing period will validate the strategy I am using in selecting the EA’s from the pool and the EA’s created with EA Studio to add to the pool. At the end of the one month evaluation period I will evaluate the portfolio and decide to move it to a live account.
Do you want to learn how to use EA Studio so you too can create your own EA pool? Click here!
Alan,
Hi Bruce,
It has been a long time since I used the prop firm robots, but as far as I can remember there is no way to change the set files to only allow the EA to trade in one direction. If you had EA Studio you would be able to add a long only or a short only indicator to the source code then you could select the direction in the set file.
The EA’s are created using 5 years of historical data that includes many periods of upward and downward trends. The indicators in the EA’s have been chosen so that overall the EA’s would be profitable.
This is where using multiple EA’s help to minimize risk. The idea is that when one EA is going through a countertrend the other EA’s will be compensating for the EA going through a losing period.
In my opinion if you just want to have an EA that will just trade long or short would require you to determine the trend and then set the EA to trade only in that direction. If this is what you want to do then you really don’t need the EA you can just determine the trend and manually enter a trade in that direction.
Alan,
Yes you can do that, but then you distort the true trading performance of the EA and you will not learn to trust it will be profitable over the long term without your intervention. The idea of using EA’s is to let them do the trading without your intervention. But, that is your choice!
I would like to invite you to take a look at the new portfolio of EA’s I am working on so you can see what I am doing. The link shows the performance after 7 days without my intervention. It has now been trading for 11 days. I will update the performance this weekend. This is what you want! This way you don’t have to sit in front of the computer all the time waiting to manually close a trade. It also allows you to work on new portfolios in the future to further diversify your overall trading risk. If the portfolio proves to do well by the end of the year I will use it to copy trade to a 200K or greater prop firm account.
Alan,
You don’t have profit yet as you only have one data point. Let’s see what profit your demo account has after 10 completed trades and how many of the ten trades were profitable. Then we can calculate your overall profit factor.
https://www.babypips.com/forexpedia/profit-factor
Alan,
Sounds perfect!
I use to moderate the forum but gave it up so I could concentrate more on my own trading accounts. I am still a team member with EATradingAcademy. You can see my mugshot on the team members link at the bottom of the website. I have been trading since 1985. You can click on my name under my blank picture to read a short version of my bio!
Alan,
Just trying to be a good mentor!
The one thing that causes traders to end up losing their account is the lack of patience!
Where are you? I am in the Dallas Tx area!
Alan,
I would recommend waiting awhile before starting a live account to make sure your profits are not just a one time event. You will not see profits every day. Some days will be profitable and some not profitable. What you want to see is there are more profitable days than the unprofitable days. How many EA’s are in the demo account?
One thing to keep in mind “Trading is not a race, it is a journey!”
Alan,
https://www.trading.com/us/mt5
https://www.trading.com/us/faq/account/opening#for-how-long-can-i-use-a-practice-account
I like Oanda.com because it lets you have 10 demo accounts that do not expire. What I don’t like about Oanda is their limited historical data. However, their is a solution to getting more historical data but I have not tried it.
Alan,
There is one change you will need to make is to set the Max Open Positions to 1. This is done in the EA’s properties box.
Alan,
Hi Bruce,
Yes the prop firm robots can be used in the US. Here is the problem with using prop firm robots. They were created using BlackBull historical data. So when you use them with other brokers the results will be different from what is shown in the app. Such as, the top performing robots in the app may not be the top performing robots with a different broker. The solution I have found, if you do not have EA Studio, is to collect all the prop firm robots and put them in a demo account for at least one month. Also each week of so, new robots are added to the app. Take these robots and add them to your demo account. Keep doing this each week. After about a month you will start to see which of the prop firm robots work best with your broker. Now you can select the best performing robots to add to a live account or copy trade to a prop firm.
Alan,
Hi Bruce,
No problem. I would ask you to use the links above which will then give me credit. Also, feel free to ask questions. Trading.com only allows one demo account but has years of data history which makes it usable for creating EA’s using EA Studio.
Alan,
Here is one of my near perfect EAs created with EA Studio:
This graphic shows the EAs Balance Line over the last 5 years:
This graphic shows the statistics of this EA in detail.
The question in consideration is “Is this EA overoptimized. The following two graphics answers this question.
This graphic shows the EA being tested using MonteCarlo with all the Check Boxes checked. The graphic shows The EA passed 18 0ut of the 20 test showing the EA is not overoptimized:
As a second test of over optimization I ran it through the Walk Forward test. The result of this test shows there is a better strategy indicating the current EA strategy is not overoptimized.
Now that I have shown the EA is not overoptimized the following graphic shows its performance over the last month:
This graphic shows a profit of nearly $30 over the last month. Note the lot size was 0.01 lots. A lot size of 0.1 lots would have shown a profit of $300 over the last month and a lot size of 1.0 lots would have shown a profit of $3000 over the last month.
This report shows that while many near perfect balance lines can indicate an over optimized strategy this is not always the case. This report has shown a near perfect balance line that is not over optimized and has shown to produce a nice profit over the last month.
Alan,
