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@Jie thanks for starting this discussion. I’m at that point too. I started with FSB Pro instead of EA Studio and have been using it now for over 4 weeks.
@Andi, from your experience, do you get better results when you allow FSB to generate strategies automatically or do you specify some starting opening logic conditions? It seems historical data size affects the strategies generated. How many historical bars do you use to generate strategies with stable results for a couple of months? Do you generate long only, short only strategies or both? In terms of acceptance criteria, what do you focus on? It seems it’s difficult to get strategies with win rate over 70%. Such strategies are often risky with no stop loss. However some strategies may have good net balance but with less than 45% win rate. These strategies win more when they win and lose less amount when they lose. With the above observation regarding win rate, when do you take an EA off, since a seeming good strategy may have 10 consecutive losses but will win big when the market condition becomes right.@Jacpin, the EAs are working correctly. Day closing and Week Closing means close at the end of the day or week. This is normally after 23:59 at 00:00. It will work on every trading except Fridays. This is because 00:00 on a Friday market close is on Saturday and the market is no longer open.
So you need to find out when your brokers close on Fridays and adjust the hour and minute options of Day Closing 2 and Week Closing 2. Remember to leave enough time buffer for the trades to close. This does not only happen on Fridays but during holidays also when the markets close early.
There are Closing Point Positions called Day Closing 2 and Week Closing 2. They are found directly below Day Closing and Week Closing.
In the Strategy Editor mode, click on the Day Closing or Week Closing position slot. From the dropdown ‘closing point of the position’ box on the left, manually select Day Closing 2 or Week Closing 2.
The only downside is that Day Closing 2 and Week Closing 2 are not primary closing logic, so won’t allow you to add more closing logic if you intend to.
Hi Jacpin,
Are you using either “Day Closing” or “Week Closing” closing point for your positions? If yes, you can change them to “Day Closing 2” or “Week Closing 2”. This will allow you to specify the hour and minutes you want the trades to close. It seems Day Closing and Week Closing are predefined to close at 00:00. This won’t work on Fridays and some other shorter trading days like Christmas eve. You can specify the closing time to 21:30, 23:15 or whatever suits your broker closing times.
Hi Maria, the 1:1 leverage is only in the demo account.
Live trading accounts have a maximum 1:30 leverage due to limits placed on European brokers.
Okay, I see what the problem is. I was initially using 1:1 leverage like I have in my demo account. However, when I changed it to 1:30, the strategies became stable.
Hi Petko,
How do you modify the lot sizes of the EAs after strategy generation? Let’s assume you generated a strategy using 0.02 entry lot, 0.04 max lot, add 0.01 lot and reverse 0.04 lot. If the EAs are doing well in demo or live trading, what do you do? Increase the lot size in MT4 or FSB?
I’m asking this because I generated some strategies with good equity lines using a particular set of lot sizes. Then I started experimenting with different lot sizes after generation to see if the net balance will increase with increasing lot size. However, I was surprised to discover that increasing the entry, max, add and reverse lot sizes made the strategy become unprofitable.
Have you experienced something like this?
Thanks for the kind words Petko. Fortunately, Pepperstone allows hedging on MT5. I agree I need to take more rest. From few strategies I generated so far, I can see this is more of a marathon rather than sprint. So, I’ll go easy, keep learning and gradually work towards becoming a better trader.
Hi Petko,
You are absolutely correct. I’m really taking my time. I want to make sure I get it right as much as posible. I have purchased a VPS where I’m collecting data on both MT4 and MT5 live accounts for about 1 month now. I noticed that MT5 accounts have more historical data than MT4 accounts. So, I now have more than enough broker MT5 data for strategy generation.
I’m using two approaches for strategy generation. 1) Allow FSB to automatically generate strategies. 2) Supply FSB with some fixed manual trading opening logic and then allow it to suggest exit conditions.
I’m looking at currency correlation also. I want to make sure the currency pairs I trade are either non-correlated or negatively correlated. I’m also looking at pairs which trend most of the time.
With my data analysis background, I’m trying to segment the historical data into different combinations of market conditions to see if the results will be improved. I currently spend 8 to 10 hours per day on this, outside my full time job hours.
I also have a 32GB RAM workstation which will be generating strategies while I’m at work. I’m committed to making this work and hope it does. I really appreciate your great efforts and also the help of all the members of this forum who have been selflessly sharing their experiences.
Thank you Jacpin. You’ve cleared this up for me. From what I understood, if I have a leverage of 1:30 with a £2500 balance, it means that the maximum lot size I can trade at any given time is 0.75 lots. So, I need distribute this (0.75) among all my EAs, time frames and currency pairs.
Thanks for the detailed answer Jacpin.
Using the example you gave, assuming you trade EURUSD and USDCAD on 2 time frames with the 2 EAs.
Let’s assume all EAs open a trade on each time frame at the same time for both pairs. Does it mean you have 0.1+0.11 lots opened for EURUSD and 0.1+0.11 lots opened for USDCAD. This will give a total of 0.42 lots opened for all Forex EAs at that particular time.
Am I correct with my reasoning? Thanks.
Hi Petko,
Thanks for the detailed response. I’m starting out with FSB Pro and will check EA Studio afterwards.