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@Haliffa-Yes, you’re right. I am wary of the whole Brexit thing, but I’m just going to let everything play out as it may. My 4th EA that I just went live with yesterday is GBP/JPY, so you’re right..GBP is playing a big part in my trading. But then again, this currency has been the most active during the time I have been trading.
I do have 3 more EAs that look like they should be ready to go live within the next week or so and it looks like a better mix: Natural Gas, Silver, AUD/JPY.
I test the EAs in Demo with this criteria:
Min 10 trades-Opened and closed
Min win %-70
Min trade time-2 weeks*I immediately get rid of any EAs that have more than 3 losses before it even gets to 10 trades as it already fails my criteria of a 70% winning performance.
I don’t really pay attention to the min # of pips because with a 70% winning percentage and taking profit around 50 pips on average already in my EA, I make that 100 pips easily. Also, it wouldn’t apply to the other assets I trade like the indicies, gas, silver, etc. So, I try to keep things as simple as possible to let me run through the analysis results. I use FX Blue Live to do this (Thanks Petko for letting us know about this website).
I started Demo testing in September and went live in October with those that passed the criteria. I spent a lot of time creating the strategies for all the different assets and also to replace ones that failed.
Hi Jordy! I didn’t see that you had already posted as I also posted a similar question about other people are using EAs to trade. I see that your focus is on three Forex pairs and are just using the top ten strategies for each of those pairs on M15 only. Now, I see you are going to expand to M30 and H1 charts. That’s gonna be 90 EAs trading on three pairs! You have great results.
I am building strategies on 24 different pairs with two time frames, but they are not just Forex. I’m also including indicies, cryptocurrency, metals, and energy. If things don’t work for me in this way, I may switch my logic and focus on maybe three pairs like you and then trade on multiple time frames. I currently have three Fprex pairs trading live right now. Thanks for sharing.
Thanks so much, Petko! If it wasn’t for you, I would have never had this kind of progress. Much appreciated to you and the developers of EA Studio.
Ok, that makes me feel better. I believe that I go through a pretty rigorous process in generating the strategy, filtering to the one that I would like to demo, demo test, and then go live. To generate 96 EAs, it took me almost 2 months, but I feel the time is worth it.
I’m not really sure I even want to do optimization now. I feel like if the EA passes the acceptance criteria in generation, the demo testing criteria to go live, and then maintains the same success rate in live trading, there is no need to optimize. If it starts to perform below the expectation, then I would just replace it with a new EA created from my process.
So, I guess I’m trying to figure out maybe when should optimization be utilized and if so, is it worth it?
Hi there! Yes, this is with 0.1 lot traded. I took Petko’s advice and will trade with 0.1 lots until I have more than 10 EAs running. At that point, I will reduce them to 0.01 lots if it makes good risk management sense (such as depending on whether or not I am 10k account balance).
Yes, the three EAs are Forex. This is only because I started with Forex pairs when I first started creating EAs through EA studio. It took me about 1.5 months to create all the EAs for all the different assets. Depending on stagnation and when I started them in demo (max 30% stagnation and placed in demo either October or November), most of them should be completing the demo testing period by the end of December. So, I estimate I will be around 10+ EAs to start in January.
My three EAs that are live and generating profit are: GBP/USD M15, EUR/GBP M15, and AUD/USD H1. The GBP/USD, I went live around end of October, AUD/USD around beginning of November, and EUR/GBP about a week ago.
Oh, my. I didn’t even think about how my broker could affect my account. I am currently using the VPS that my broker is providing. I have 2 MT5 platforms running-demo with the 99 EAs and live with currently 3 EAs. I haven’t had any issues, but I will keep a better eye on the account to be sure.
@Andi-Hmmmm….I was thinking that the small historical history was because the broker was new. Now, I’m not so sure.
@Petko-Good point. I will be sure to start collecting live data as well.
@Haliffa-My understanding is that it is legit. I haven’t found anything to say otherwise. But then again that doesn’t make it right. I can understand how the different quotes could appear from different live servers due to data transfer delay, but I’m not entirely sure this is one of the reasons.
@Petko-You are so right. I did this very suggestion. I took one of the EAs you provided from the course, ran it through the Validator with my broker’s historical data. As long as it passes my initial criteria (like win %, equity drawdown %, # of entry indicators, etc.), I then check the journal to see if there were at least 10 trades within the last month and also whether the winning percentage was still acceptable for that month. I then put that EA on both demo and live just to keep things in sync. 🙂
You are so right! Testing is truly the key to success.
I do have a process of generating EAs once a month only because I have limited resources (time and computer) to run them daily. But it also coincides with my rule on demoing first.
I actually did use the Validator tool on the EAs that I get from Petko in my courses. If the EA passes the criteria that I deemed acceptable, then I go live with it. For instance, the EA from Petko was ran through the Validator that has already been uploaded with the current historical data (I do this once a month as well). AS long as there are at least 10 trades and my other criteria is fit, then these are the only EAs that I go directly into live trading. I still put them on my demo account as well, just to keep things in sync with how I handle my automated trading.
@Andi-Thanks for responding. Yeah, I forgot to mention that I do wait for 10 trades as well. So my rule is demo for at least one month and have a minimum of 10 trades. Since I am doing this trading on the side and just starting algorithmic, I am being very conservative in using H1 and M15 charts. Once I am more comfortable, I am going to be using M5 and M30 charts to increase the volume of trades.