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Hi Petko,
Please ignore my questions above – after watching the videos again, with the live trading example, it all makes sense.
Hi Petko,
I’m sorry, but I have one more question on the formula that I’m not clear on. Do we ONLY open the next buy stop and sell stops (1.0 and 1.4 lots respectively), as well as the final 1.95 lot buy stop IF the price reverses past our opening trade price?
In other words, we open the 1st buy stop(1.0 lots) and sell stop (1.4 lots). If the price goes up then reverses past our opening price, we then open the 2nd buy stop (1.0 lots), and if it reverses again back down we open the 2nd sell stop (1.4 lots). If it reverses a 3rd time back up, we open our final buy stop of 1.95 lots?
Thanks,
Ilan
One more question – if the swap long and short are both -20, does this mean $20, 20 pips or 20 points?
Thanks,
Ilan
Hi Petko,
Which broker do you recommend / use for your BTC Never Losing Formula? I know you recommend Coinbase as the Crypto broker, but I don’t see a link to download MT4 on their site, so I assume it is only we based? The reason I ask is with the formula, the last buy stop must be set to 1.95 lots, but Pepperstone who I am testing the formula on, doesn’t allow this lot size – only 1.9 or 2.0.
Thanks,
Ilan
Hi Petko,
Thanks for getting back to me. What you say makes perfect sense – I guess this is where money management is important, as well as making sure there is enough money in the trading account to ensure there are no margin calls while the market recovers – which it has since I posted my initial question. I have since updated the EAs and my account has recovered.
The SL and TP I an using for my EAs is 10 – 100.
Thanks again,
Ilan
Hi Petko,
Thinking about my question above, and your initial answer, I came up with a strategy (I think it’s what you explained, if I understood correctly) , that I’m hoping works.
As mentioned, I keep a spreadsheet of weekly EA performances in my demo accounts, removing EAs from my live account that didn’t perform well in the previous week, keeping those that did, and adding good performing EAs from my demo accounts to my live account, also from the previous week.
What I am doing now, is applying the date filter in FX Blue for the past week, as well as from the beginning of the month, or the last 30 days. I then check which EAs are performing well in the last week AND last month. If they have performed well in both time frames, I add them from the demo accounts to my live account. Conversely, if they are no longer performing well in both time frames, and they are currently in my live account, I remove them.
I hope this makes sense. Do you agree and / or have any suggestions.
Thanks very much,
Ilan
Hey Petko,
Thanks for replying. So, based on the above method, if I check my EA performance weekly, do I select the EAs that have been working for a shorter as well as longer period? In other words, let’s say I have an EA that hasn’t made any successful trades in the past week, but over the past month, it has made 15 trades in total, with a positive net profit and profit factor of 1.4. Do I continue using it?
Thank you as always,
Ilan
Hi Petko,
In the symbol settings in the tools menu of EA Studio, where you can add the commission amount, would that be commission for a full 1 lot (assuming the lot size settings is 100,000)? So if I am creating strategies for an entry of 0.01 lots, an the broker charges $7 for 1 lot, 0.7 for 0.1 lot and 0.07 for 0.01 lot, does the system automatically adjust the commission, or do I put in commission for the 0.01 lots?
Thank you,
Ilan
Hi Petko,
In the Tools menu of EA Studio, where one can change the Trading session times – which time zone is this in – GMT, my local PC time, etc?
Thanks, as always.
Ilan
