Forum Replies Created
-
Posts
-
@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.
@Ossaio-Hi there! I think I saw a post from Petko on the forum with a suggestion on lot size for trading with a bunch of EAs. Numbers are based on a 1000USD account (Forex only):
Number of EAs: 1-10
Trading Lot size: 0.1
Number of EAs: 10+
Trading lot size: 0.01
Now because I trade more than just forex, my lot size changes depending on the asset. Here is what I have in my live account, when I started at 1000USD 1:100 account leverage:
Forex EAs: 0.1 lot size
Cryptocurrency EAs: 1 standard lot size (Bitcoing and Ethereum) 10 lots for Ripple
Commodities EAs: 0.01 lot size
I’m going to keep my lot sizes like this until I see a need to change. Also, I’m a US trader and we have to abide by FIFO rules. I trade 2 EAs for ever asset on 2 timeframes. Each EA has to have a different lot size in order for me to stay in compliance with FIFO. So for Forex, one EA is trading at 0.1 and the other is trading at 0.11.
Hope this helps.
I am actually only trading on 3 cryptos: Bitcoin, Ethereum, and Ripple. I have 6 different forex pairs that I trade on. I think it is probably ok to not have them be the same number. But then I also diversify my portfolio by including the commodities and global indices to trade on.
@Ibrahimovic10-Hi there! I had duplicate orders generating when I first started because I had MT up and running on the VPS and my home computer. Since both had autotrading turned on the orders were duplicated. Is it possible that this is happening for you?
@Petko-OMG!!! After watching your video on the R-squared and running the generator on some more that I needed to create…wow! Just wow! The quality of the strategy went up significantly by having more count of trades, less stagnation, less drawdown, and reasonable increase in profit! Again, thank you and Miroslav for EA Studio. And thank you for taking the time to create these videos. I would have been so upset if I went on for months without adding the R-squared as part of my criteria in evaluating strategies.
@Desita-Petko just answered and it is the same kind of desk he mentions. Since I don’t get to exercise a lot, it helps tremendously when standing while working. Definitely check some out. There is a special one called Altdesk that runs in the thousands, but it looks like the Ferrari of adjustable workstations. LOL. :)
@Petko-Yeah, it must have been me because running EA Studio today I saw it go through a lot more strategies than on Friday running the same asset with the same acceptance criteria.
@Desita-Yeah, I love those desks that can switch between sitting and standing. It’s supposed to be more ergonomic for your body as well.
@Petko-Will do. I am running it now and it is going pretty fast, so it could have been an issue on my end. :)
@Desita-Thanks! No, it’s just an adjustable work desk. Since I am still working a full-time job (software tester from home), I figured I would be more comfortable in working and also analyzing EAs. I would definitely recommend at least 2 monitors. :) EA Studio is running faster, so it could have definitely been something on my side.
I have a question for everyone…how does having the home equipment affect your power utilities? I was wondering about the cost for electricity in powering this equipment. Just a way for me to compare the monthly costs with a VPS…
@Desita-That’s a good idea. I will do that. I don’t want to miss out on trading the indexes. Oh, sometimes depending on the currency pair (and my Wi-Fi) 200k bars gets a little slower in generating strategies. But I know that if I stop using Wi-Fi all the time and directly connect to the internet box (which should be happening later this month once I get my desk all setup), this situation should resolve itself. :)
@dommech-To answer your question about how others use the stop loss, I actually generate all my strategies without a stop loss. After generation done and I filter my strategies to what I deem acceptable criteria, I then turn on the stop loss and take profit in the optimizer to see if better results are produced with the strategy. If better (like stagnation, drawdown, win %, etc.) then I keep it with the stop loss and take profit. If not, then I leave both with none like in the original strategy.
I’m sure others use this differently, but that it what seems to work for me right now.