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Hello,
I decided yesterday to try the Grid Machine. It was a weird installation process. As I tried ti download it, it asks first if I have mt4 installed, if I select no nothing happens, if I select yes I prompts a login into MQL5. I logged with may google account and then I selected, that I have mt4, then it opended and somehow it was installed. I have several mt4 with several brokers, I don’t know how it chose which one to open. Anyway I can now copy the EA from the Data folder, if I need it into other platforms I guess. I saw in Petkos latest video he is trading it on the GPBUSD pair H1 so I did the same. Can someone give me some more information on the robot, I could not find a user guide or something. Which pairs and time frames does it trade? Petko mentioned in the video that if I use the robot, since it is free one, I would have a big correlation on Darwinex and that it is advisable to make the robot individual. How exactly can I do this? Thanks!
kind regards
Boyan
Ok, I will have to cjeck on this, right now I have these XAUUSD EAs running with 3306 and 3246 pips and Entry lots 0,01, which would mean I have higher risk than 1%, right?
Thnaks Nikos!
kind regards
Boyan
Hey Nikos,
so if I keep the risk at 1%, your suggestion would be to chnage the pips so far, that I get an Entry lots value different than 0, is that what you mean?
Thanks!
kind regards
Boyan
Hey Nikos,
about the rest hour – if I put in only 17:00 how does the EA know which time zone?
Reagrding XAUUSD – I thought the pips are predetermined in the EA and if I have a profitable strategy with 3306 pips of SL and I want to keep it profitable I am not allowed to change the SL? What would you do in this specific case when I have once XAUUSD with 3306 pips SL and once XAUUSD with 3246 pips SL? We are talking all the time about the same account – 25k and may risk tolerance is 1%.
About mt4 – seems like you also weren’t aware oft this limitation.
Thanks!
Kind regards
Boyan
Hey Nikos,
I already asked the prop firm, it is like I said 17:00 EST, my question was regarding the time format I have to use, can I put it in exactly like this?
About the news – I guess the EA is obtaining information about news events online, ist hat right? And how does it behave when I have set times for before and after – it does not open trades in this time, or it also enforces to close open trades before the event?
About the risk on the XAUUSD – I thought the greater the pips set in the SL oft he EA, the bigger the risk? Or maybe I misunderstood something? So the SL is set in the EA to more than 3000 pips and if I change it to 50 won’t it affect the results oft he EA?
About the charts in mt4 – I did not get any error, I was just not able to creat a new chart after the number reached 99, no error, just nothing happens.
Thank you!
Kind regards
Boyan
Hey Nikos,
I need you support again please. I put yesterday 4 EAs to trade on a 25k demo account to test the account protection settings. I tried to fill the Daily rest hour(terminal) in the settings, but I dont know how exactly to put it. I need to put 17:00 EST there? Another thing is the news filter – what is the difference between Medium and High news filter? I have both set now. What are the recommended before and after settings in minutes? I have now for both Medium and High news 60 minutes for before and after.
Another thing is the risk calculation again. I am trading the following EAs with the following Stop Losses and calculated Entry lots for 1% risk on the account:
XAUUSD – SL 3306 pips, Entry lots 0 according to myfxbook
XAUUSD – SL 3246 pips, Entry lots 0 according to myfxbook
USDJPY – SL 29 pips, Entry lots 1,34 according to myfxbook
USDJPY – SL 16 pips, Entry lots 2,43 according to myfxbook
I find these results unusual. When I calculated the pair EURJPY with 154 pips SL for the same conditions I got as a result for the Entry lots 0,25 lots. Why do I get a 0 for the Entry lots on the XAUUSD? Also when I calculate the XAUUSD in myfxbook I don’t have the XAUUSD Ask price displaed like in the pair USDJPY – why? Is there something I am missing?
And finally I downloaded yesterday the current 100 robots from the app and put them individually on a demo account. However I was able to put only 99 EAs on the same account in mt4. Is there a limitation ad if so, how can I solve this?
Thanks!
kind regards
Boyan
Hey Nikos,
this is what I also thought, just wanted to make sure I got everything straight. Thank you and have a great weekend!
kind regards
Boyan
Hey Nikos,
thanks for the quick responce.
So to sum up and finalize the topic risk caluclation – I would keep the account in USD. This is what I posted yesterday maybe you missed it:
‘Anyway I did the calculation one more time with both calculators with the following inputs: Currency Pair EURJPY, Account Currency USD, Account Size 25.000, Risk Ratio 1%, Stop-Loss(Pips) 154 (according to the EA I am going to use) and I put 1 in the ‘Trade Size(Lots)’ field in myfxbook calculator. It shows automatically USDJPY 155,81100 there. This value I put in the field Current USDJPY Ask Price in the babypips calculator. I get pretty much the same results from both calculators – Sizing according myfxbook is 0,25 lots and Standard Lots according to babypips is 0,2529. So that means, that when I put 0,25 in the field Entry lots of the EA I will be risking 1% from the 25k account per trade, correct? In the Complete Guide video Petko used 0,1 but this is myabe because he was trading 10K account right? So this would be risk medium according to the Prop Firm Robots App, and if i want to trade low risk I should put 0,125 in my case right?
Just tell me if I got everything right, tnanks!
As to the cryptos – if you tell me what instrument is being traded I will do my own research on the calculator.
Thanks for your opinion on the choice of the EAs, what do you mean by this – ‘they seem to have a good potential since the losses that really big’ ?
Thanks
Kind regards
Boyan
Hey Nikos,
the more I ask question the more confused I get.
As to the risk calculation – you say when I trade the pair EURJPY I have to put EUR in the field Account Currency. But my account is in USD, what if I trade something else? Do I have to do it every time like this – convert the account balance from USD to the first currency of the trading pair? That would be very disrupting.
About the correlation entry lots – SL – why does the calculator needs the SL in pips to calculate the entry lots?
About the crypto pairs – which calculator do I use for those? And you did not tell me – when I trade this crypto pairs – I am not trading the coins, since I am not trading on a crypto exchange, what instrument am I trading CFD?
About the results in FX Blue – thank you fort he info, this is also what I am aware of. You still did not tell me which 2 or 3 out of these on the screenshot would you chosse if you were me?
I would appreciate if you answer today, because I want to put the strategies to trade on the weekend. Thank you!
Kind regards
Boyan
Hey Nikos,
I just chekced the results of the Top 5 EAs, that I put as individual EAs in the charts on Sunday. As of today I have hard times picking 3 of them to trade on a challenge next week. The top 3 performers took only one trade and therefore no profit factor and 100% winners. The fourth one has a profit factor of 3,98, it took 3 trades and has 1 winner and 2 losers – how does the profit factor get calculated? The fifth one took 4 trades so far and has a profit factor of 1,59 – 2 winners and 2 losers. And sixth one took 3 trades and has a profit factor of 1,84 – again 1 winner and 2 losers. All the rest were not profitable at all. So considering these results which 2 or 3 out of these 6 would you pick out for the live trading? I’m sending a screenshot for known reasons in a seperate posting following. Thank you!
kind regards
Boyan
PS: And one more thing I forgot – in the Top 10 EAs there is also crypto BTC and ETH, but I do not find them in myfxbook calculator, how can I calculate the risk there? Just to my understanding – I will not be trading the coins directly but some other instrument like inex or contract or something right?
Thanks!
Hey Nikos,
as to the screemshots, these got posted several times, because I tried to load them several times. It is not the first time I have this issue. It looks likes to me that I cannot load screenshots instantly, but they have to be approved first by someone from the TA, could that be the case?
As to the risk calculation – I am not sure if I got you right – where do I put the 232 Euros?
Anyway I did the calculation one more time with both calculators with the following inputs: Currency Pair EURJPY, Account Currency USD, Account Size 25.000, Risk Ratio 1%, Stop-Loss(Pips) 154 -according to the EA I am going to use and I put 1 in the ‘Trade Size(Lots)’ field in myfxbook calculator. It shows automatically USDJPY 155,81100 there. This value I put in the field Current USDJPY Ask Price in the babypips calculator. I get pretty much the same results from both calculators – Sizing according myfxbook is 0,25 lots and Standard Lots according to babypips is 0,2529. So that means, that when I put 0,25 in the field Entry lots of the EA I will be risking 1% from the 25k account per trade, correct? In the Complete Guide video Petko used 0,1 but this is myabe because he was trading 10K account right? So this would be risk medium according to the Prop Firm Robots App, and if i want to trade low risk I should put 0,125 in my case right?
Could you please explain what the correlation between the entry lots and the SL exactly is?
Thnaks!
kind regards
Boyan
Hey Nikos,
in the meanwhile the screenshots are visible – why does it take that long for them to show up?
I’ve just checked the myfxbook Position Size Calculator. Apparently there is a difference between the Position size and the Trade Size. What I need to know is what to put in the Entry lots field of the EA, so as not to risk more than 1% of the accoint per trade. The myfxbook calculator has a prompt saying Trading Size(Lots) – what do I have to put here? This is actually what I need to know? And when I change the account currency from USD to EUR in the babypips calculator I do get the prompt Current EUR/JPY Ask Price but how does this affect the calculation, because when I do this I am risking 250 Euro which is more than 250 USD hence more than 1% of the account? I am getting confused, how to do it right.
As to the daily reset hour – lets say I have set max. 3% daily loss and the day closes with 2% daily loss and open trades. After the daily loss gets reset it means that I am allowed to have another 3% daily loss for the next day on the rest of the equity, is that correct?
Thank you!
Kind regards
Boyan
Hey Nikos,
I checked the risk calculator, that you sent me. I put in the parameters of the exapmle EUR/JPY(see screenshot). Do you know why, although I selected EUR/JPY as a currency pair, at the bottom it says ‘Current USD/JPY Ask Price’? And also this calculator is missing the commodities like XAUUSD, can I load them somewhere? In the setting ‘Entry lots’ I assume is meant standard lots, so according to the calculator everything smaller or equal 0,2701 puts 1% or less of the account per trade at risk, is that correct?
As to the daily time reset, I guess you mean the setting ‘Daily reset hour(Terminal)’ – see screenshot. What hour should I put there?
Thanks!
best regards
Boyan
