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Awesome! Thank you Petko. I actually purchased the Etherum course but have not started it yet. Soon as I finish the robot for the forex strategy, I will start that course.
Thank you for the response! I’ll try to update how things work once I have all the testing setup. I plan to have a robot do all the setup in testing of 99 EAs in three different MetaTrader platforms (33 each).
I confirmed this morning with a representative of the US broker and the broker website, that FIFO rules apply to the same currency pair AND the unit size (lot size) of the trade.
I specifically asked, as a follow up question, the example of opening a trade for 0.02 lots on a currency pair, and then opening a trade on the same currency pair for 0.03 lots. The representative confirmed those trades are independent of each other and the FIFO rules do not apply to those two trades.
US FIFO rules only apply for the same currency pair and the same unit size.
Let me know if anyone understands differently.
Thank you!
Petko, I sent an email to info@eaforexacademy.com, providing my contact info. I look forward to exploring this FIFO situation together!
Thank you!
Hello Petko,
I can understand about not sharing links.
My plan is to get this all setup within the next few days. I’ll let you know how it goes.
Perhaps we can discuss more off the forum, if you would like.
Thank you!
Hello Petko,
The US broker who allows different lot sizes to overcome the FIFO rule is OANDA.
Thank you for the suggestion about analyzing the growth in FX Blue. Because we would have different lot sizes, we would want to look at pips and not dollars.
The RPA I built performs the following tasks:
1. Copies the files to the MetaTrader expert advisors folder – only the current month remains in the folder.
2. Refreshes the expert advisors in MetaTrader.
3. Closes all open MetaTrader chart windows.
4. Loops through each expert advisor file in the MetaTrader expert advisors folder, performing these steps:
4a. Identify the currency pair and time frame based on the file name.
4b. Open chart window in MetaTrader for the identified currency pair and change the time frame for that chart window to the identified time frame.
4c. Add the expert advisor to the chart window that was just opened.
4d. Dynamically changes lot size based on a configuration that is set.
5. After all expert advisors are added to individual chart windows, the auto trade button is checked, or enabled.So basically, the RPA robot is built to do everything. I am now going to modify the robot to work with three different MetaTrader accounts.
I’ll let you know if I get it to work.
Thank you!
Petko, and others, I just spoke to a colleague of mine who uses the same US broker. He said if you change the lot size per Expert Advisor, then you can place multiple Expert Advisors on the same currency pair in the same account.
If that is the case, how much would you recommend deviating from the 0.1 lots in the Advisors? Would you create a range from 0.05 to 0.15 lots? If so, that would give me a total of 11 Expert Advisors per currency pair, or 33 Expert Advisors per account. Then if I have three practice accounts, or instances of MetaTrader, I will be able to trade the 33 Expert Advisors per currency pair. This actually seems doable.
I have created an RPA (Robotic Process Automation) robot to load the 99 Expert Advisors into one MetaTrader account. Now I’ll have to modify the robot to populate 3 MetaTrader accounts, and the robot can dynamically change the lot sizes also.
Then with a live account, if I want to trade up to the top 15 Expert Advisors, I can use the lot range of .08 to .12 for each currency pair. That would allow me to trade 5 different charts per currency pair and should be doable in one account.
Also, for FX Blue, I discovered you need to create a separate account for each broker account – practice or live. Then you can create a Portfolio in FX Blue where you can combine as many accounts as you want and analyze the entire portfolio at the same time. Sweet!
Does this sound like a good strategy or do you have any other suggestions?
Thank you!
Petko, thank you for the answers. This really throws a wrench into using your 99 Expert Advisors strategy. I really like the idea. My broker does allow for multiple practice sub accounts, but I would need 33 sub accounts to test the 99 Expert Advisors. I’m not sure I can have that many sub accounts. I’d also have to be running 33 instances of MetaTrader.
Then I’d have to have multiple live accounts to truly take advantage of the top 10-15 Expert Advisors.
FX Blue – can you combine multiple broker accounts to consolidate tracking in one FX Blue account?
Have you seen what other US traders are doing to use multiple Expert Advisors per currency pair? Do you have any suggestions?
Thank you!
Here is the exact mail message from MetaTrader.
Your trade could not be closed because you have an older trade on the same currency pair. To comply with NFA FIFO regulations, you must first close your older trade. Please note, continued FIFO violations may lead to your account being locked.
This is coming from my demo account.
Thank you!
Hello Haliffa,
Thank you for your comment. Can I ask you how many cores and RAM you use on your VPS to run four MetaTraders?
Thank you!
Petko, I did have a question about your desktop. Do you have any worries about latency, or speed of transactions to your broker?
Thank you!