Forum Replies Created
-
Posts
-
Hi Gabe,
Trading Third-Party Robots in the U.S. – Workarounds and Broker Comparisons
I agree—trading third-party robots in the United States can be a challenge due to FIFO rules and leverage restrictions. One of the few viable options available to U.S. traders is DarwinxZero, which allows access to MT5 accounts for U.S. residents. The team at EA Trading Academy showcases how to use several third-party robots with DarwinxZero.
👉 [Click here to review their setup.]My FIFO Workaround Using Oanda Accounts
To work around the FIFO rule when trading robots I’ve built in EA Studio, I use multiple accounts with Oanda. For example, if I’m trading multiple strategies on EURUSD, I run each one in a separate account.
What I like about Oanda—and what most other U.S. brokers don’t offer—is the ability to create up to 19 demo and 19 live accounts. This gives me the flexibility to demo-test many different strategies for each currency pair I’m trading.
Oanda vs. Forex.com – Cost Comparison
If you’re comparing Oanda.com to Forex.com, keep in mind the difference between spread and commission:
Oanda: No commissions, but wider spreads.
Forex.com: Tighter spreads (about half of Oanda’s), but charges a per-trade commission.
When you combine spread and commission costs, the total trading cost is roughly the same for both brokers. So if you’re using Oanda, there’s no need to feel like you’re overpaying.High Leverage Discussion
I’ve also shared my thoughts on using high leverage in another forum thread.
👉 [Here’s the link if you’d like to check it out.]Alan,
Hi valentinozerus,
EA Studio only applies the commission at the closing of a position. Since the commission is only applied once you should include the full commission amount of 11.oo euro’s.
Alan,
Hi devgabriel300,
I thought I would follow up on your comments. Can you share some detail about what you are referring too as limited information and the several US restrictions so I can address them?
Alan,
Hi Steven,
I live in the US and use FXIFY.com as my prop firm broker. The problem with using prop firm brokers in the US is they do not offer MT4 or MT5. So it is not possible to use Expert Advisors. So what I have done in the past was to use oanda.com demo account to launch my Expert Advisors and then copy trade to FXIFY. Currently I have a 50K account with FXIFY but am using it to manually trade. Gotta keep them manual trading skill up! LOL. For trading with Expert Advisors I am using DarwinxZero.com which uses MT5.
Alan,
Hi devgabriel300,
I have been trading in the US since the 1980’s so I have lots of experience. Unfortunately there are not many US traders on this forum anymore. When I add content to the forums I do not get any responses. It’s like I am just talking to myself. So I decided not to continue adding content.
Alan,
Hi devgabriel300,
The broker Blackbull does not allow for US traders.
The problem I have found with VPS’s is they only allow for about 4 or 5 Metatrader terminals.I have over 20 Mt4 and MT5 terminals running continuously so to have 4 or 5 VPS’s is extremely costly. I found it more economical to run my Metatrader terminals on my own pc. So what I did was to purchase a separate pc. I actually bought a used pc off the internet. I have it connected to a battery backup. I also use T-Mobile Home internet connected to my pc connected to the battery backup. This device gets its internet from the cell tower instead of a hard wired internet connection. The problem with hard wired internet connections is they go down a few times a year. Cell towers hardly ever go down! Even if you just use your normal internet connection and it goes down a couple times a year and stays down for 24 hours each time that is still an uptime of 99.24%.
Hope this helps!
Alan,
I have tested all 3 EA’s over the last 5 years. They all pass Monte Carlo 100% robustness test. Here are results. Pay attention to the historical data for each EA as these are the historical data used in creating these EA’s and are the historical data used to test them today:
Alan,
This graphic shows the Express Generator creating strategies for ten different currencies. The Express Generator runs for 23 hours. It then stops and saves all collected strategies. Then at the beginning of the next hour the Express Generator automatically starts collecting new strategies for the next 23 hours. Then the process repeats. The Express Generator runs 7 days a week collecting thousands of strategies.
See description on how I use Express Generator with EA Studio
Alan,
The last thing I do before leaving the Settings Tab is to set the “Maximum daily drawdown %” to 0.5. This means that if the asset I am trading loses 0.5% of my account balance the assets position will be closed. I also set the “Maximum Equity Drawdown %” to 6.0. This means that if the account loses 6.0% the account will stop trading. Lastly, I set the “News Priority” to “High News Filter”. I find high news can cause high volatility in the markets whereas the “Low News Filter” does not.
Alan,
Agreed, I would recommend learning EA Studio first! Then once you become profitable trading with Expert Advisors created by using EA Studio you can move on to adding Express Generator.
Alan,
Hi Bob,
Sorry to hear you are having problems being successful using the Top10 app robots. The problem I see with using the Top10 app robots is that they are created and tested using Blackbull historical data. The problem with historical data is that it is difference with with many difference forex brokers. So, you have two options. One option is to use the Blackbull forex broker, or two, test the robots with your broker. This is what I did. I downloaded all the Top10 robots and backtested them all with Oanda to find which ones produced a nice balance line. From this test I then picked the best performing ones to trade. Notice with the Top10 robots I am trading on Oanda I call it a test. This is because I want to test them for about four to six months before trading them on a live account. This test account is still doing very well with a balance of $110,500 or 10% over the last 90 days.
Hi Zoran,
When you move a robot from a demo account to a live account there are two things you should do. One is to make sure you are using the same broker for both the demo and live accounts. Secondly, keep the robot on the demo account and also on the live account. This will let you know if the demo account and the live account are using the same historical data. By doing this when you see the live account in a drawdown you can check the demo account to see if it is also going through the same drawdown. What you did by moving from a demo account to a live account and found that with the live account the robot starting losing you don’t know if the live account is the problem or if it is just going through a drawdown. If you find the demo account and the live account produce different results you can always use a trade copier. I use the free trade copier from FXblue to do this very thing. I test all my robots with just one broker and when I want to trade them with a different broker, such as a prop firm, I use a trade copier.
Guys, also note I am no longer using the forum or adding content. I do however, get an email when you guys post something so I can still respond to questions but I will not be adding content once a week.
Alan-
The 2nd thing I do when using EA Studio is to set up the Acceptance Criteria. The following are the settings I use:
Note: The Minimum count of Trades changes depending on the lookback time frame. Currently it is set up to a lookback time frame of 5 years.
Please leave a comment if you are following this thread. In this way I will know if anyone is following it, Thanks!
Alan,
Hi Guys!
This first graphic show the performance of the EATradingAcademy Top10 App Robots I have selected to use in this Oanda dot com test demo account. This graphic shows this account is now 68 days old and has gained $10,363.59 or 10.4%. This graphic also shows a calculated monthly return of 4.6%. Not too shabby!
Oh, by the way what about Open Positions represented by that negative 387.91 Floating P/L? Well this second graphic shows a closing profit on Friday of $1,842.00 so I am not too worried about this floating loss. It is very possible these open trades could turn into profits before they are closed.
This third graphic show the balance line of this demo account since its beginning. Had a bad beginning but otherwise, Nice!
This last graphic shows the balance line of each of the assets. This graphic shows EURJPY as being the underperformer. However, when I look at the last several days I see this asset may be starting to move higher. So I will continue to keep this asset in the demo account to see if it continues to move upward.
Overall, I am quite happy with the results so far for this demo account!
To view the Top10 robots click here.
To go to the beginning of this thread click here.Let me know what you think!
Alan,
