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@Petko-I’m thankful that this conversation came up before and I was able to learn how to get around this rule.
@Donald-You’re very welcome!
@Desita-That would be great! I found that the EAs that perform better are not the ones that generate the most profit when trading at 0.01 lots. So these are the ones that I set at 0.04 lots. 🙂 Of course this is all just based on a starting account balance of 1k USD. It’ll change once my live account hits 10k USD.
@Andi-I I think that this is a great question. Personally, I like to stick with EAs that work for a longer period of time. As long as it stays profitable and maintains my criteria of acceptable performance, I keep it until it starts to do bad. I kind of rearranged my trading portfolio, so I had to recreate a bunch of EAs for my assets and different timeframes. With this, I am only running EA Studio to produce enough EAs for me to trade live and then have some backups running in demo. I honestly don’t want to keep running the software every single day unless I have to. I haven’t really used the EAs that Petko gives us except for the ones in cryptocurrency and that is because I am having a hard time generating them myself with the criteria that I deem acceptable. I’m thinking that I need to start pulling some of Petko’s EAs into my portfolio…
@Donald-Hi there! I’m a US trader. In order for me to get around the FIFO rule, I had to change my lot size and the number of EAs that I am trading on an asset pair. For instance, I only trade 4 EAs for each asset pair. My EAs are (2) H1 and (2) M15. The lot size ranges from 0.01-0.04, meaning that I am always trading 0.1 lots on an asset pair. I have my best performing EA with the highest lot size of 0.04. This avoids having to wait for the first trade to close before the next on can be done as it is a different lot size. I’ve had no issues doing it this way.
Also, this didn’t change the way I generated strategies..just how to manage the risk when trading.
Hope this helps.
@everyone-Ok, I just just checked and the EAs are closing on Friday like I created them. I just had one left over from the beginning before I started doing this that is open. Phew! 🙂 Thanks for everyone’s input.
@everyone-Thanks for all the feedback. I’m going to watch my trades closely and if I see that after this Friday, they are still open…I’m gonna maybe send in a support ticket to see what I could possibly be doing wrong. 🙂
@edu-Hi there! I’ve created EAs for both of these. I did nothing different. Just export the data and generate strategies. The only thing I had to double check was the minimum lot size to trade from my broker, which for any of the indices is 1 standard lot. Your broker might be different. I did nothing with the spread as I just left it as default. I generated some pretty good strategies, but am only testing on demo as I don’t have a live account value at the level I want it to be in order to start trading the indices.
@Ossaio-Thanks for responding. Could you please explain a bit more about the Day closing and Week closing? I believe that this is somewhere in the coding of the EA that I would need to update in order to have my positions automatically close?
@Ossaso abd Desita-I originally thought that was what the coding of the trading session meant when I created the EAs to have the positions automatically close, but I could have been mistaken as this is not occurring.
@Maria-Hi there! I know what you are talking about. I did have to change the acceptance criteria in order to generate strategies, but then I would use the performance filers in the collection with the same acceptance criteria I would have normally use to get the strategies I want. That was the only around that issue that I found.
@ivelina-You’re quite welcome. Just keep practicing with the software and you’ll get it. I have only been using EA Studio for about 6 months and I love it. But I am still learning just as well and with the awesome updates that come through, it makes it a continual learning process but rewarding none the same. 🙂
Fantastic results. I’m still hoping that they will allow for portfolio EAs in MT5. I am using MT5 and my broker allows for hedging.
@Jordan-Thanks for being willing to answer my questions. You are on the right track by starting with the Basic Algorithmic course. I say this because it is as you said it goes through basic trading terminology, but also the fact that it is algorithmic.
You questioned whether to learn manual or algorithmic trading in getting started. And based on the amount of hours you have available to trade and wanting to trade all the time, then algorithmic is the way to go. I actually only do algorithmic trading. I no longer look for trading opportunities because I also work a full-time job right now as well. I also trade all the time and I do this by using the EAs (or as I call them trading robots to other people). I don’t have the license for FSB, but I do have a license for EA Studio. I can only attest to the great product that EA Studio is.
My recommendation would be to start with Forex vs. Cryptocurrency. I only say this because your are new to the world of trading and the crucial information of pips, points, etc differs from Forex to Cryptocurrency. This also helps you to watch how the different forex pairs perform, which will help you determine which ones to focus on in your trading portfolio. You may even find some pairs that become your favorite (I have 2 that I always trade just because the pair performs according to my trading style). I say once you feel confident that you have ‘mastered’ creating profitable strategies and actually traded them in demo, then you can move on to cryptocurrency, global indices, commodities, etc. to expand your trading portfolio, if you wanted to.
Hope this helps and good luck with your training. Feel free to use this forum as much as you want. I know that I do for sure when I have questions.
@Jordan-Welcome to the world of trading! A couple of questions for you before I give my recommendations:
You mentioned that you are very new to trading..how new is new? Do you have knowledge about pips, points, trends, indicators, Metatrader trading platform, major vs. minor forex pairs, etc.?
Another question I have is how much time to do have on your hands to trade with? Do you have the ability to sit and analyze charts to look for trading opportunities (this could be something that can take either 1 hour or 8 hours out of your day, depending on the strategy you are working with and when you have the ability to trade)?
Would you like to trade 24/7 or would you prefer to trade during specific trading sessions or certain hours of the day?
I’m just asking these to gauge where you’re leaning to in regards to trading. And it’s ok if your answer is I don’t know to any one of these. I only came up with these as it helped me to determine which avenue I wanted to take in my trading. 🙂
@Andi-Honestly, I don’t think it is worth trying. Only because of risk management. If you have 1 EA on an asset, then there is only 1 outcome at the end of the day for the trading performance of that asset. But if you have 2 EAs on an asset, then the risk is lower because should 1 position start going against, the other EA may open opposite and reduce any potential loss. This is of course if you have created 2 different kind of EAs to trade with.
I wonder what everyone else thinks as well.
@edu-I am totally going to need a video as to how in the world you are coming up with these strategies, even if they are over optimized. Those results are crazy!
@Ossaio-Yes, that’s correct. Another example is this: I am trading EURUSD and USDCAD on both the M15 and H1 charts. I have 2 EAs for each chart for a total possible amount of 8 trades happening at the same time. Here is how my lot size is setup:
EURUSD-M15-0.1
EURUSD-M15-0.11
EURUSD-H1-0.12
EURUSD-H1-0.13I would then repeat this same setup for USDCAD. I tend to have the best performing EA with the highest lot size.