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@Andi-No worries. I don’t mind answering questions and sharing my experience, especially when it is something that I really enjoy.
You’re exactly right and I try to stay away from aggressive money management.
Yes, that’s right. It would be kind of hard to stick to that in the beginning as your demoing EAs and only putting the ones that are profitable into the live account. Like for me, I have only 6 EAs that have passed my demo testing and are live on my account. They all trade at 0.1 lots right now and they are (in order of putting into live account because they did not all go live at the same time:
AUD/USD H1, EUR/GBP M15, GBP/JPY M15, AUD/JPY H1, Natural Gas H1, Brent Oil M15, Silver M15I actually just had to take off my profitable GBP/USD M15 EA because it had 4 losses out of the last 10 trades. I’m very strict with my criteria, so as soon as an EA hits more than 3 losses, I take it out and replace with a new one. I want to maintain a 70% winning performance at all times in my live account. I don’t want to waste time to see if the EA goes back to being profitable.
To answer about the different assets that I’m trading, I gave a little snapshot from what is live right now. In my demo account, I have 98 EAs running right now. The asset mix is forex, natural gas, silver, gold, brent oil, WTI crude oil, FTSE 100, DAX 30, S&P 500, Wall Street 30, and Nasdaq. I only chose these indicies because they’re pretty popular, but there are others that my broker provides as an option to trade as well like Japan 225. I’ll get to those…maybe. :)
I do place the historical data in EA Studio using the export script that is provided. I just run the Generator with my specific acceptance criteria. I don’t use the reactor at all. It’s a nice feature, but haven’t seen the need for it yet. I find that running the generator is faster for me.
@Andi-Ah, I see. Glad that you’re getting back into using EA Studio. It is such a wonderful tool and I’m so glad I found it. My trading management is based on a suggestion post I saw from Petko before. Thanks Petko!
You do have it right. Up to 10 EAs, my total trading lot size would be 1. When I put on the 11th EA and change everything to 0.01 lot size, my total lot size will be 0.11. It is a very dramatic change downwards, but that also depends on the asset your trading. Since I don’t only trade forex, the profitability varies for me. For example: I trade Natural Gas. Right now, I am trading at 0.10 lot size because I don’t have 10 EAs running yet on my live account. I only have 6. But the profit is so huge with this asset that moving 10 pips equals 100USD instead of 10USD when trading a forex pair. When I hit the 11th EA and my account is still under 10k, then it’s ok to go down to 0.01 lots because it would equal being at 0.10 lots in forex.
So to get around the low number of lots trading, but still maintain my profit goals and risk management, I decided to expand beyond forex and include other assets like the indicies, energy, metal, etc. This way I am still diversified to maintain money management and the lot size is low to maintain risk management. *But I will say that I am flexible, so if I see that my Natural Gas is continuing to be profitable, I may just leave that one at 0.10 lot size.
I hope that helps explain my thought process. Sometimes, words don’t translate what I’m thinking correctly. :)
@Andi-Thanks for trying. I think Petko was trying to post on this thread something to me, but I didn’t receive it.
@Andi-Welcome to the EA Studio club! :) I would definitely start slowly. I would recommend formulating a plan of what trading pairs you want to work with and then spend a lot of time generating your EAs. As I have so many different trading pairs that I am working with right now, it took me about 1.5 months to create all the EAs needed for me to execute my plan (2 M15 and 2 H1 EAs per trading pair). Of course after each generation was complete, I would put the best 2 strategies on demo and let them trade while my other EAs are being generated.
For a 1k account, I trade with 0.1 up to 10 EAs. On the 11th EA, I will then change all of them to 0.01 and keep it like this for all subsequent EAs. As my trading balance increaase by 1k, I will change the lot size in the same increment. For example: A 2k account with 10 EAs or less would trade with a lot size of 0.2. On the 11th EA, all EAs will change to lot size 0.02 and will stay like this for all subsequent EAs. I’m going to keep following this practice for every increase in 1k, until I get to 10k. At this point, 10 EAs or less are trading at 1. On the 11th EA, all EAs will change to 0.1 lot size and then following the same routine all over again. But this time, every 1k increase in balance changes the lot size by 0.1. So when my account is at 11k and I am over 11 EAs, then my trading lot size is 0.2.
Hope this helps.
@Petko and everyone-In my demo account, it looks like FIFO is not taken into consideration (but maybe this is just because it’s demo). So, I’m going to say that this is probably the same in live. I don’t have multiple EAs for the same currency pair in my live account yet, so I haven’t experienced the violation yet. However, I do see that I can trade one asset in one account with different lots. This is a great work-around to FIFO. Since my ultimate goal is to have 4 EAs running on 2 different time frames for 1 currency pair, I am going to have to trade with smallest lot size of 0.01-0.04, with my best performing EA getting the 0.04 lot size. These lots sizes are only if I have more than 10 EAs running. For less than 10, I would use lot size 0.10-0.13.
Hope this helps. Still kinda crappy that we have to do it this way, but with strong strategies, it shouldn’t be an issue with being profitable. I really like my broker, so I’m sticking with them and just doing the work-around when need be.
@Petko-Thanks for responding. I analyzed my trade history and the issue has not come up with my trades. Maybe my broker is following the rules or maybe my EAs have just not generated in a way that the issue came up. I did redraw my profit equal to 50% of my initial investment. It was processed within 24 hours with no issue. I don’t know if it is because of cryptocurrency or not, but I have my money so I am happy about that. For right now, I am going to stick with this broker (Coinexx) and just keep an eye out on things.
@Stephen-With everything that I mentioned to Petko, things are looking good for me right now. But you’re right, if anything arises, I will just have to change things up and ensure I stay in compliance. Yes, that is one of the great things about this broker..all the wonderful assets to choose from in trading. :)
@thetrader-Yeah, you would think some freedoms would be allowed, but alas it is not. That’s ok. I just tested taking some of my profit out and I had no issues. I don’t know if it is because it is cryptocurrency or not. But I was able to withdraw and the bitcoin was sent within 24 hours. As of right now, I was able to withdraw 50% of what I initially invested, so I am happy about that. In looking at the trade history, it actually looks like my broker (Coinexx) is following the FIFO rule. Or my EAs just happen to work so that maybe this issue hasn’t come up yet. All in all, I’m sticking with who I have until something arise, but will keep an eye on things.
Whelp, now I feel bad because it looks like they’re not regulated. Sheesh. Why oh why do they make it so hard for US traders??? Looks like I need to find another broker that accepts US clients.
Ah, I see now why the FIFO thing was brought up. Oh, my. I wonder if I may be doing something bad with the way that I am trading then. Does this mean my broker is not good because I have been able to do this. Crappers now I have to only do one EA per currency pair. Ugh, that is horrible.
@Petko-I would have to say the answer would be yes that my broker allows for trading around the FIFO rule. Only because I do trade with one EA per chart per currency pair. So, I have two M15 charts for AUD/JPY and there is one EA on each chart. If my broker doesn’t know that they are allowing this, no one has said anything to me about it. It would be devastating for me to only be able to trade one EA per currency pair. Ugh!
I think that this is one of the reasons why I was hoping that the Portfolio EA would be made available for MT5. Because this would help me tremendously with not having 94 different charts open and maybe cut this amount in half to 47 charts instead.
@Haliffa-I believe that Coinexx is a company that was established after 2012. Oh, so that means that it might be exactly what you said as data from another broker or liquid provider. I’m not sure how much of an issue it is, but so far I have been profitable. This just leads me to believe that if I was with another broker with actual data, I could have been even more profitable. :)
I only chose this broker because I am based in the US and unfortunately, I have limited choice in brokers. Also, I love that there is a major focus on cryptocurrency.
@Stephen-After seeing your reply and others, I am really thinking of doing the top 10 strategies on 3 pairs idea to see how that works for me. I already chose the 3 pairs that I are my favorite that I will use. I am going to try this out and start demoing. If I see some profit in demo, then I may just go this route and see where it leads me. I’m so excited for this that I just kicked off EA Studio on one of them for one time frame. now, I’m going to download another instance of my demo MT, so I can get it ready to test these as well. :) So glad I got more involved in this forum. Thanks for the idea.
@Haliffa-Yes, you’re right. I do press on all the time frames. But the charts from my broker are nice because once I move it in the D1 time frames, all the lower time frames tend to populate with the same date as well. For example, I press the home key on my D1 chart to move all the way back to Aug 2012. When I select the H4 chart, it is already populated at Aug 2012, so I don’t do anything but move to the next lower time frame. It makes things easier and all my bars are uploaded as they should.
I have no problem sharing what broker I’m using-Coinexx. Take a look at them and maybe they might work for you. Make sure you go to the .com and not the .org website as that would be two different companies.