Forum Replies Created
Yeah, as mentioned, the volatility on the market right now is huge. It’s really difficult to say what time frame would work best for moving EAs from one account to another. An EA can perform really well for a few days, and then suddenly stop when conditions change. In the course I do say a week, and this is generally what I use, but there is no guarantee that an EA will continue working well. As always, my advice is to try different things. For example, you could try 2 or 3 days, and if an EA performed well, say 2 or 3 successful trades, with a profit factor of 1.5 or higher, move it over to another account to test. Maybe you could then let it trade, and after 2 successful or unsuccessful trades, remove it from the chart. This is just an example of one different strategy. There are countless options.
Good luck, and let me know what you try, and how it works.
All the best,
Yes, unfortunately, the market is really volatile at the moment. This is the reason we trade with so many EAs on our demo account. During times like these especially, we use many demo EAs, and then select only those that are the most profitable for our “live” account. If you are new to trading I would strongly recommend that you practice for as long as possible before risking real money. When selecting your EAs for your “live” account, even if you have only 5 – 10 that are profitable, that’s ok. This is still a good result. Keep at it, practice, and see what works best for you. The reason I wrote “live” in quotation marks, is because what I mean is, set up a separate demo account, that you can practice on as a live account, to get more comfortable. Move your profitable EAs onto this account, and see how they perform on their own.
To your second point, yes, you are quite correct. I did in fact include some small SL and TPs in the new EAs, both last month, and this month’s that I uploaded over the weekend. Due to the current volatility, I wanted to add some extra protection. Well spotted!
Thanks so much for your kind words. I’m really happy to hear you enjoyed the course.
Your point about a VPS is very good. You are correct, however as this course was geared towards beginners mostly, I didn’t include it in the course, as I didn’t want to overwhelm our new traders with too much technical IT information. Having said that, I think it may be a good idea to add it when I update the course next.
To answer your questions:
I personally always close all open positions before updating the EAs, irrespective of whether they’re currently open or closed. This is because I want to use the EAs that have shown the best performance in current market conditions. If the existing EAs are open, and profitable, then great! If not, I take the loss, close the positions, and activate the new EAs.
The reason there is no SL or TP in place on the EAs, is because when I created them in EA Studio, I ran the Generator and Reactor many times, trying different settings before testing the EAs and creating the course. The best results I got, was when the indicators in the EAs decided when to open and close the trades, rather than the SL and TP. If you have a trial or full license, my suggestion is to try for yourself – play around, try different settings, and see what you prefer, or what you’re more comfortable with.
In terms of lot sizes, the 0.01 lots I use when creating and trading with the EAs, is what I am personally comfortable with, based on my account balance. This is where money management comes in too. In EA Studio, you can set your initial account balance, and again, as mentioned above, I tried different lot sizes based on my account balance, and found the results I was comfortable with, was starting at 0.01 lots. My money management system is quote simple. I increase my lot sizes proportionately to my account balance. So, let’s say my account balance increases by 10%, my lot size will increase my 10% too. Conversely, if it drops by 10%, my lot sizes decrease by 10% too. In terms of leverage, again, your risk appetite comes into play, and if you are happy taking bigger risks, then you can increase your leverage. The margin requirements depend on the broker, as they all set their own.
Thanks again for your kind words – I will ask the site manager to check the issue with the review.
Should you have any follow up questions, please feel free to ask.
We don’t fund robots – we fund our accounts. The EAs are simply used to open and close trades according the rules of the strategy. But in terms of getting the EAs (robots) to make bigger trades, this is achieved by increasing the entry lot size of the trade, and can be done by adjusting this value in the Inputs tab of the EA properties, either when we are attaching the EA to the chart, or later, by double clicking on the smiley face in the top right hand corer of the chart, which brings up the properties window for the EA.
The EAs are attached to Lecture 12: Selecting EAs to Trade with.
IlanMarch 23, 2021 at 6:20 in reply to: Question about Cryptocurrency Algorithmic Trading + 50 Robots Monthly #81177
No, you definitely don’t have to follow the 0.1 lot entry rule. When you place the EA onto the chart, and go to the Inputs tab, you can change the entry lot size to one that is more suitable for you.
In terms of how much money you need in the account, this would depend on your trade sizes. I would just suggest to start small, and employ good money management. In terms of leverage, my personal preference, and what I trade is 1:100, although this is not a recommendation. Again, I would recommend you practice different leverage on demo accounts until you find one you are happy with.
IlanMarch 8, 2021 at 19:09 in reply to: Question about Cryptocurrency Algorithmic Trading + 50 Robots Monthly #79445
Good to hear from you.
I’m surprised to hear that you had issues with the password and syncing. I have set up about 100 FX Blue accounts and have never had that issue. I also teach this in all my courses, and have never had any student comment that they had difficulty. Thank you for bringing this to my attention. I will certainly mention it in my future courses.
And the point you make about turning off your PC is valid, and again, I will mention it in future courses. For your own info, the EAs that have opened trades, will remain open until the TP or SL is reached, even if your PC is off. However, if your PC is on, it can close trades when TP or SL is reached, but also if the exit conditions are met, as per the rules of the EA. But yes, it won’t open trades, because the EA resides on your PC, not on the broker’s server, so in a case like yours, where you turn your PC off, I agree a VPS would be best.
Thanks again for bringing this to my attention. I always appreciate intelligent, solid advice.
All the best,
It’s difficult to recommend a broker, and we avoid recommending brokers because there are a number of factors to take into account. For example, the spreads that brokers offer, are not always the same in every country or location. The same with leverage. In some countries the leverage offered is higher than others, due to the regulations there. Have you had a look at the Brokers page yet? You may find some useful information there.
Iohan is correct. You could add TP and SL to the EA once it’s on the chart, but you won’t know if the values are the best they could be. You could, if you want to, add the TP and SL, and run a backtest on the EA within MT4.
No system error 🙂
The Academy recently passed the 30 000 students milestone, and as a thank you to you and the rest of our students, Petko slashed the prices of all the courses.
Thank you for your ongoing support.
Ilan, and the team at the Academy.
We use the free Historical Data app, or Premium Data (DukasCopy) or Metatrader (JFD) data, as you correctly say. This is because they offer us the most amount of bars in the historical data. But this doesn’t mean that these are necessarily the best brokers to trade with. That is why, in EA Studio setting, there is the Symbol Settings option. This is where we can customise the asset according to the specifications of our chosen broker. In this way, we have a huge amount of historical data available to us, and we can cutomise it to be suitable for any broker of our choice.
How many bars of historical data do you have?
IlanFebruary 1, 2021 at 5:28 in reply to: What should I aim for in terms of returns? Setting Expectations #75263
10 – 15% is great! My advice is to just apply money management, and if your growth continues, your profits will grow.
If you’re comfortable to do it, you can share with the forum which broker you are using, and which EAs?
IlanFebruary 1, 2021 at 5:17 in reply to: How satisfied are you with the automated trading software EA Studio? #75262
Good to hear from you, and thank you for the kind words. We’re all really happy to hear how much you’re benefiting.
Keep it up!
Welcome to the forum, and congrats on starting your Forex Algo journey.
Speaking for myself, to answer your questions:
- I did many of the courses. In each course I learned something new. Many of the concepts are similar across all Forex Algo courses but there is always something new to learn. But it’s up to you – just the robots with each course are well worth the small investment of each course.
- I create my own, but at the beginning I used both the provided EAs as well as my own.
- There is no real minimum amount to invest. It really depends how much you can afford to invest. You can trade smaller lot sizes if you have less capital. And it’s difficult to know how much profit you’d need to cover any losses, because we don’t know how the EAs will perform in the future, only how the strategies performed in the period of historical data we use to create them.
- I’ve created EAs for some stocks and indices, but the results weren’t great. Actually, on Petko and my list for this year to to continue testing and trying to find good automatic strategies for stocks and indices.
The best advice I can offer is to practice, practice and practice some more on demo accounts until you are confident to start trading live. And start small. Don’t risk too much. And of course, test a few brokers using the same EAs to check if the results are similar, or if some give better results than others.
Good luck, and if you have any additional questions, please feel free to post them here in our forum.
All the best,