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This first graphic shows the balance line of the top 4 selected EA’s over the last 21 days.
This final graphic shows a nice calculated monthly return of 9.0% based upon the last 21 days performance.
Over the last 21 days this demo account shows a monthly return of 10.5% with a profit factor of 2.64.
Note that if I were trading this account with a prop firm I would have passed the challenge within 21 days.
This weekend I filtered my EA pool (see previous post to learn about the pool) For each of the 10 symbols I trade over the last 30 days. I then selected the top 4 EA’s to trade this next week. For example: I set FXblue to filter the pool for AUDUSD. It then gave me all the EA’s magic numbers for AUDUSD. I then filtered these magic number for the best Net Profit. I then selected the top EA. I then did this same thing for all ten symbols. I then took all then magic numbers, one for each symbol, and filtered them for best Net Profit. I then selected the top 4 to trade this next week. As it turned out two out of the four magic numbers were the ones I traded last week so I will continue to trade those this next week. Two of the magic numbers were not traded last week. So I will add these to my portfolio and remove two of the worse performing magic number from last weeks trading.
I will now trade my demo portfolio for another week.
Note my demo portfolio is a MT5 demo account. Once I have traded this demo account for one month I will then start using it to trade my FXIFY 25K demo account.
Alan,
Hi Richard / Guys!,
I am a successful trader using EA’s I created using EA Studio. You might consider following how I use EA’s successfully. Click here! You can use the same method with Prop Firm robots or the Top 10 robots. The problem is not the EA’s, it is how you are using them. Fifty percent of all the EA’s I create are losers. The secret is for me to find the ones that are profitable. To do this I create a demo account with the SAME broker/Prop Firm I plan on using and put all my EA’s into it. I then let the EA’s trade for one month in the demo account. I then filter the demo account using FXblue.com to find the top performing three or four EA’s. I then trade these EA’s.
Alan,
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 portfolio for the next one month. This one month testing period will validate the strategy I am using in selecting the EA’s from the pool and are added to the portfolio. At the end of the one month evaluation period I will evaluate the portfolio and decide to move it to a live account.
Note: A am also adding 10 new EAs to the pool this weekend. For more about the pool see previous postings above in this topic.
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,
