[Chris Landry]

Hello Petko

Yes this helps. After running on demo for a month I now have a stronger foundation on how the lot sizes and maximum losses roughly will be.

 

Thank You for responding. Going to work on the 21 day challenge again this month. I went live on the 5 EAs in the course on a smaller account this month. Excited to continue to learn and learn more.

Cheers

Chris

[Chris Landry]

I don’t think 4 days is enough time to know if these robots will be consistently profitable in the long run, even profitable manual traders can easily have drawdowns that can last weeks or months, the market is just not going to always go in our favor, also last week had a lot of news reports, it was more difficult for manual traders from what I have heard.

I would say give it at least 2 weeks minimum to see consistent results.

I have been running the 5 robots for about a month on the 21 day challenge (I had no internet for a few weeks so had robots off for awhile and turned back on) and I am seeing great results. (I attached a photo of the results)

My demo account is up $400 with the default settings which translates to around +10R which is extremely good in my opinion.

Also the fact that we get updates to these bots is awesome, my experiences with Expert Advisors in the past is they would work sometimes during extended backtest then fail at a certain point, however with the potential for updates and adapt to new market conditions thats really cool.

[Chris Landry]

Hi Alan:

Thank You!

Once a new update is released.. is it recommended to close all positions from previous trades and reboot with the update, or wait for the last trades to play out and finish while entering the new bot updates?.. or is this based on traders discretion?

Chris

[Chris Landry]

I think I figured it out.. so these bots have pre determined MAX STOP LOSSES in PIPS so we can calculate our lot size based on how much we want to risk in $ per trade using a standard lot size calculator / risk calculator.

So if I was trading this live, and I wanted to risk a maximum of $25 per trade .. my lot size would be .03 lots (based on a standard position size calculator) . the 100 pips for stop loss I am assuming this is a hard stop loss amount… So I could calculate this for each EA and have it so all my trades max loss would be $25.

 

[Chris Landry]

Hello

I am a new student for the 21 day challenge.

Right now with the default settings I have an unrealized profit of $131 on the account which is really cool to see.

I have a question.. for the GBPUSD 1M EA .. I noticed that the default settings is .01 lots.. Do I have this correct (as its a lower time frame bot the default settings is .01 for less risk? or is this suppose to be set to .10 lots.

At first I was a bit confused on doing set lot sizes, as I have been doing manual trades and I have a lot size calculator that auto calculates the lot size to risk only a % of the account per trade or risk a set $ amount per trade… However from what I am seeing in this course we are focused on a consistent set lot size?  And the losses and wins have some variety based on the distance from our entry to the stop loss? or we could also calculate this and have a different lot size per EA that would reflect how much we want to risk per trade and have all of our losses the same amount of the SL is hit?

Looking forward to continue my education here… I have seen auto trading bots and algos perform well in the past then fail as market conditions change.. its encouraging to see here that we update the bots every month based on performance and we diversify with lots of bots at once.

[Chris Landry]

Question 1

Which broker did you choose for your trading? Is it legit?

I am using eightcap broker, Yes I believe Eightcap is a reliable broker at this time.

Question 2

Did you open a Demo account with the same size you are planning to trade real?

I made a $100,000 account to get used to trading with bigger $ amount. At first most likely I won’t be trading that big of a size. unless I start with a $100,000 founded account with mentfunding which uses live Eightcap data for that prop firm.

Question 3

Did you download the Expert Advisors and unzip them?

Yes

Question 4

When placing the Expert Advisors in the Demo account, did you see the smiley face?

Yes

Question 5

Do you see trades opening and closing? What are the first results?

No results yet.. however I just got it all setup 10 minutes ago.. I will double check in the days to come 🙂

 

Thanks for this course. I am excited to learn more about EAs and bots side of trading. Hope everyone is having a great year so far. Cheers!

[Author]

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