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@Andi-I’ve been able to generate strategies for all three. I actually have 1 EA trading live right now for oil and silver each. I would definitely recommend to diversify as much as possible. And also be aware that the lot size for trading these assets may be different for Forex. For instance, trading oil at a lot size 0.01 with my broker and a winning position of about 1 pip will equal 100USD. If I was trading Forex, that same lot size would only give me 10USD. So the potential for nice profit is great with the commodities, but I would stress more cautious risk management in regards to lot sizes when trading.
Also, my broker did not have a lot of history for the commodities so the strategies that are generated may not be ones that will last for a long time. So, I just keep an eye on performance and make sure I have a nice group of back up strategies.
@Andi-Hi there! Yes, that’s right. I see in your screenshot you have the area with the question mark next to it. Depending on the asset, if I can generate strategies using this as part of the Acceptance criteria, then I’m good. Otherwise, I have to use it as part of the filter for performance. But either way, I take no strategies that are less than 0.7 win/loss ratio. 🙂
@Petko-You are awesome! If you can please do that I would be so grateful. Sometimes, the waiting for my EAs to pass demo is frustrating to me. But I don’t want to take unnecessary risks. 🙂 As soon as you have anything that shows how to avoid demo trading, then sign me up!!!
@Petko and Dommech-Can you let me know which course has this method to leave off the last month in the Data Horizon? I want to understand the steps on how to do this and see if it will really save me some time or provide me with more confidence in the strategies that I generate.
@dommech-Yeah, I leave the generator more wide open and once it’s done or as I filter is when I get really picky about the strategies, just so I don’t miss those nice and very low DD strategies.
For FX, I am going back 5 years. Now that we are in 2019, I changed my data horizon to start at 1/1/2014. I do this because it gives me enough bars as I am trading H1 and M15 charts. For the lower timeframes, 200k bars should be good enough to get some good strategies.
@Petko and @Haliffa-Does the chart timeframe that we are using affect the count of trades? For instance, I can generate a lot more count of trades on the M15 chart vs. the H1 chart. But then again, I get into the issue of wanting that 70% winning performance and only getting a smaller count of trades. I wonder if this is the trade-off (higher winning percentage=smaller count of trades vs. lower winning percentage=larger count of trades).
Since I don’t want to give up on that winning percentage, I may be working with short-term strategies for quite a while.
@Petko-Thanks, Petko!
@Haliffa-You are absolutely right. I was almost tempted to jump from creating strategies and putting them right into my live account. But I stopped myself and had to make sure that I stick to what has been working for me. And to not deviate. As a result, the only thing that changed was me consolidating the assets I’m focusing and not making any changes to the way I was creating strategies, testing them, and then going live. 🙂
@dommech-Hey there! Good question. My acceptance criteria is:
Min count of trades: 10
Max equity drawdown%: 20
Min net profit: 10
Min backtest quality: 98
Min win/loss ratio: 70
Max stagnation%: 30
and sometimes Min profit per day: 1 *Of course this depends on the lot size being used for generation of strategies.
If I can’t get the generator to produce strategies with all of these requirements, then I just run it without acceptance criteria and use these as the performance filters. I use the criteria for all assets that I’m trading. After the the strategies are all created, I then do some additional analyzing to pick out the best strategies to use such as using the optimizer, turning on the stop loss or take profit, etc.
@Petko-No problem at all. I completely understand. I have seen both positive and negative reviews regarding Coinexx and I am not entirely sure that they are regulated. However being regulated doesn’t necessarily mean that your money is safe with those brokers that are regulated either. There are always going to be people trying swindle you out of your money.
The best thing I can say to the person that is asking is to open up a small account with Coinexx or any other broker and trade until you make your 60% of your investment back. If there are no issues with withdrawing this profit, then you’re good to go until you can withdraw the other 40%. After that, you’re working in 100% profit and can regularly withdraw once a month (I was thinking 20-50%of the profit made for the month). But the investment has to be money that they are willing to lose and not have it affect anything else in their life. I think a lot traders start trading with money that they actually need and then when losses occur, it has a severe backlash in their financial life.
I’m glad that you are trying to help people like me out and avoid scam brokers (because there are a lot of them). But hopefully, we can continue to spread the word on any brokers that are doing a good job as well. 🙂
@Andi-Good question. I reduced the number of EAs because I wanted to consolidate my trading portfolio focus. I’m only trading on 9 different pairs and on 2 different time frames (M15 and H1). I’m picking the top 2 strategies after generation, demo them, and them place on live. I took Petko’s advice and I have about 10 backup strategies for each pair and timeframe that can be demoed after putting some on live. This way, I always have backup for when a live strategy starts to perform below my expectation, I can quickly replace it (after doing some initial validation) and not lose time with waiting for a new strategy to past my demo criteria.
I know this is kind of a long post, but I was trying to make sure I got my thoughts out as best as I could. But the main reason was focus. I wanted to zero in on pairs that I like based on how they perform and basically try to become an EA Studio expert in creating the most profitable strategies for each asset. 🙂 I didn’t want to spread myself thin with analyzing a bunch of different assets like I was doing before. I found that if I focused more and considered myself to specialize more on a particular asset, I was producing better results in how I looked at profitable strategies created by EA Studio.
@Petko-Yeah, I know about the name being very similar to other websites, so this does cause confusion. I use coinexx.com and here is a screenshot of their home page website:
As far as licensing is concerned, I did some more research and as of December 2018, Coinexx acquired Finpro Trading (UK broker). With this information and with me being able to successfully withdraw my profit to recoup my initial investment, I am not so easily convinced that Coinexx is a scam broker. But then again, I am a US trader so my perspective, needs, and requirements on available brokers could be different from a non-US trader. 🙂
@Petko-Keep up the excellent work that you are doing. I am spreading the word to everyone I talk to about your courses, EA Studio software, trading in general, etc. 🙂
@dommech-Hi there! I’m glad this subject came up. I’ve been rearranging my portfolio and I am now working with the following pairs:
GBP/USD, EUR/JPY, AUD/CAD, XAG/USD, XNG/USD, UKO/USD, BTC/USD, ETH/USD
Broker: Coinexx
@Andi-Hi there! Yeah, I use 1:100 as well. I was thinking of going up to 500, but I decided not to even try it out. I don’t feel like going through that right now. I’m just going to stick with making sure I am using the most profitable EAs on my account. 🙂
*On 12/31/18, I’m going to post a screenshot of the live accounts I manage to show the closing profit for the end of the year. 🙂 One account is my own and the other is a friend of mine. EA Studio is the best thing that ever happened to us!
