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Hello everyone. As the new trading week is approaching, ayone has any ideas suggestions for settings on XAU M15, EU M30, EA M30 and UCHF M15? Thanx in advance.
@paul4x i would also consider taking my trading pairs to about -50% SL/TP on a 1:2 ratio and possibly add a max spread limit about 15 points for forex and 30 points for xau.
@paul4x yep that’s a good idea as well. Tbh the XAU pair seems the most active-profitable-low DD EA on the board so far. However due to its volatility can sometimes return more losses. So perhaps tightening the TP from 9000 to 5000-6000 would be a solution limiting the chances of a reversal as for the price to hit the default TP is a long distance and lots of things can happen to turn things around until it hits that TP. So if the XAU is more active, then yes a smaller TP that would most likely be hit more often would also be an excellent choice.
Hello Anne. What i would do, is check first that autotrading is on, if the correct url is set in the expert options in metatrader, and if i get any errors in the experts tab or in the journal tab in metatrader. If all this checks out, and i have made sure that i have the correct EA for the correct pair for the correct TF, then i would check if any of the protection settings are on preventing the EA to open trades as it should for protecting the account. By default these are off to 0 for spread, max lot size and max orders open, and only the trading hours are auto calculated for each pair which means the EA wont open trades outside this timeframe. If all the above checks fail to correct the issue i would contact support with a few screenshots for furthert assistance. I hope this helps :-).
Hello everyone. After studying the EAs and testing a bit further my idea on how to use the prop app and EAs is: choose the top 4-5 Y1 performers DD<5 lowest peak above your starting balance, half the starting lot 50%, adjust before/after news according to your prop, don’t change anything else and just give it time to do its thing, scale up as you go. Monitor every Friday after marker close and keep a log/journal of performance. If trades hold in profit more than a day, possibly add manual trail at 1/3 of TP or close manually at 3/4 of TP just to make sure youare bringing any some profit. Check Prop App every Sunday afternoon for any major changes based on your account and make any needed adjustments before market open Monday. Any ideas/suggestions please let me know.
Thanx so much Alan really appreciate it.
Now regarding news 2 things I’d like to ask: 1. Shouldn’t the EA avoid opening trades during high impact news 2 mins before and 5 minutes after? And if so should we increase this time frame let’s say 30 minutes before and 30 minutes after to avoid these news? Or as you said the news sometimes are just too many so restricting the EA in general could also prevent it entering some favourable news positions and it is virtually impossible to say which is which and try to keep out from all of these so it’s better to let’s say avoid the hard core of the events 2-5 minutes before/after to also be within the prop firms regulation of trading news but also keep the lot size under control so in case things do go south the loss won’t be that big. And simply wait for better days.
I was also thinking about the idea of closing any trade during high impact news (or switch off autotrading) if I see that it goes beyond an acceptable loss limit for me, more than 1/3-1/2 of the SL distance, as this is clearly a sign that price is going the other way to place its self in a position of a new high only to drop/rise from that point after the market is no longer interested in that position (so should also keep an eye on volume – very low volume on strong uptrend/downtrend is a strong indicator of a reversal coming up). But this is something you can manually act upon but a bot should follow its system no matter what and this is what it supposed to do. Which means let it run do its thing be careful with lot size and eventually things should change.
Hey Alan, thanx for the feedback. The EU trade was closed completely as i didnt set up partial tp. After that the bot didnt open any other trades on the same day. After that i switched to a different set up keeping the XAU as more active and due to its higher value wins i had.
However the past few days XAU on M15 has opened a few trades the wrong way (or at least the against the market but at the correct direction at the time just the market didnt follow) so this week i wa a bit at loss. Far from the EP and the losses were smaller as the sl or the manual closing/manual trail were much shorter than the win runs. I am now trying to self control against getting scared if a trade goes the wrong way for say 3-4 hours with no signs or reversal and also trying to figure out if setting manual trail sl would help in some cases. In general, i have studied Petko’s approach with choosing only 1-2 top performers and changing nothing of the settings and simply trusting the system and let it run its course. Maybe only tweak lot size a bit and if profitable start scaling up.
One thing i noticed is that Thursday and Friday XAU opened 2-3 trades thinking it will go buy but market went massively sell so the bot stayed the course until it closed earlier at some point with about 70-100$ loss and at the same time opened a new trade on the prevailing direction and gained back some of the losses in the end. But, since this is not grid or martingale, does the bot do that in general? Closing early and opening new opposing trade on its own? I didnt see any close at opposite signal settings.
A wee update on progress : EU, AU and XAU bots have been running on my 3 challanges (10k, 25k and 50k) for about a couple weeks now. In general there is more win in value than loss, vast majority of trades is with XAU and the last week was not good but still safe under the EP limit.
EU made a couple of trades both of them wins. However for both pairs since the TP was pretty far away, i had to close the trades in profit manually after at least 3/4 of the TP run was done. Sometimes by setting manual trail in MT or by simply cloing the position.
Now based on the above, i will try a different set up for the coming week focusing on even lower top performers 1-2. I will also get all bots in the app running on a 25k demo making sure their total lot size is within the 1% of the medium risk. I ll run them for at least a month to check best performers there and compare with what the app suggests and my selections for the first couple of weeks in order to cross check and have a better view.
I am pretty sure that not all top performers will perform on the blue side, however i am also pretty sure that there are 1-3 that will show promising consistency and i am more than curious to see that since different brokers, different pairs and different market conditions can vastly affect theoretical optimisation, so real market conditions would probably the only way to have better understanding and verify.
My strategy on reading top performers is : check pairs from Y5 to D1 all the graphs that show smoother lines, lowest DD and match those in Y1 with no big balance gaps against time elapsed to figure out ideally how long it will take for the bots to show positive performance. Then choose no more than 3 top performers to use per week and repeat the process every Sunday to check for changes.
Hello guys,
trying to get some insight on these:
1. I understand that optimisation in the app is providing best trade settings per TF and historical data chosen per account size. So besides, lot size do I need to adjust entry protections (spread, max positions max lot) or for example the entry time/schedule? What would you suggest please?
2. I check for 1-3 top performers looking for smoother graph line and lower DD version and use only these. Any suggestions here as well please?
Hello guys,
trying to get some insight on these:
1. I understand that optimisation in the app is providing best trade settings per TF and historical data chosen per account size. So besides, lot size do I need to adjust entry protections (spread, max positions max lot) or for example the entry time/schedule? What would you suggest please?
2. I check for 1-3 top performers looking for smoother graph line and lower DD version and use only these. Any suggestions here as well please?
i usually check Y5 to D1 for top performers and only pick 1-3 max with the lowest DD. I am now trying to figure out adjusting max spread and entry schedule for extra protection, even beyond the news filter which i set for high only and for 5mins before 5 mins after.
Hi Richard, i believe the lot size is calculated based on the account size and risk mode/percent selected in combination with the SL/TP for each optimisation version. If your target is 10% (10.000) then a trade of 1000-2000 range could make sense as it would ideally take 5-10 win trades in a row to hit your target. However, it might be wise to half the lot even if takes longer as this could mitigate any high losses as well if things go the other way.