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Hey Richard,
That is quite interesting! I guess this will be a solution to what Jay-R is looking for.
Can you give some more information about it? I might be interested in it! Also, it would be great if Petko can include something like that in the Packages 🙂
Hey guys,
yes, I am familiar with the program, but as far as I know, the guy does not support it anymore, no updates or anything. I am not sure if he still sells it.
From Forex Software they are working on something similar and better. The plan is to be released in 2020.
I will do my best all of our traders that have the Packages to get it for free. Someone has to test and give feedback, right? 🙂
Hey Richard,
Thanks for mentioning it. Any suggestions are always helpful =)
I’ll check it out.
Cheers,
Hello Petko,
It would be great if that would be included in the packages. That really helps a lot in monitoring over the performance of the EA’s.
In the meantime though, can you mention how you keep track over the performance of the EA’s as per the 5 trades—1.2 profit factor criteria?
As we have been discussing with Bart, FxBlue does not have a filter to exclude previous trades so that the computation of the profit factor would be quicker. The time filter could be used though; however, it does not really provide consistent results since there are times that there are more trades that take place in some trading days.
Are you monitoring the performance of the trades manually after the 5th trade has already taken, like using excel for example? Just curious how you solved this problem.
Cheers,
Hey Jay-R,
I think I have answered to you that already. I do not keep looking always at the last 5 trades. This is the rule that I follow to move the EA from Demo to Live. After that I follow the profit factor to be above 1.2 looking at the whole performance from the beginning, switching over the last 1 month, and then switching over the last 2 weeks (from the filter in FX Blue) If those three show Profit Factor above 1,2 than I keep the EAs in my live. If any of the three shows below 1,2 (normally the last 2 weeks period, I would remove it.
If you keep looking just at the last 5 trades on the live, this is too short and you will remove some good EAs from your live account.
The idea of the 5 trades is to get on the train of the profitable phase and not to follow it on the live. At least that is my idea, but you can go for anything else that makes more sense for you….hope that makes sense.
Kind regards,
Thanks a lot, Petko. It’s clearer now.
That turned some light bulbs on when I was reading your answer. Very nice indeed.
Cheers,
Petko, you write, “As I explain in most of the courses, every strategy has profitable phases and losing phases.” So, if I use data back to 2012 what use is it? Shouldn’t I rather limit the data, or testing, to the past year?
If you use a small period to optimise or generate strategies, you will be over-optimizing it. This means that the software will find the parameters that work best just for this short period.
That is why we use at least 100k-200k bars of data, and we are looking for the EAs that pass the Monte Carlo.
Hi, Petko! 🙂
Hello, fellow traders!
My name is Ivelina and I’m a new member in the forum. I have recently found your website and I purchased three of your courses:
1. Algorithmic trading course: London, New York & Tokyo system
2. Automated Forex trading + 99 Expert Advisors Every Month
3. Top 5 Gold trading strategies in 2020 + 10 Robots includedThe truth is that I was very interested in 4 more as well, I hope I’ll have the opportunity to get them in the near future.
I have a few questions:
1. I’m looking for good EAs for the three trading sessions and I was a bit confused that the course didn’t have them. I live in Varna, Bulgaria and the broker I’m using is JFD. May I ask you to send me the EAs for this course and also to send me their updates when you make any changes to them? I will really appreciate this.
2. If I follow your instructions to trade with the top performing EAs, to check their results every two days and replace them when needed, will this be enough to prevent periods of stagnation, or experiencing losses from several EAs at the same time? Are there other things I need to observe?
3. When I start using the EAs I don’t need to optimize them further, correct? I only need to test their performance on a demo and put them in a live account when I have confidence. Correct?
4. It was hard for me to decide which EAs would be the best choice for me. I’ll be using a live account of 450 euros and I will trade with 0.01 lot size. I would increase it very little when I see that the EAs make stable, consistent profits with the lowest risk/draw dawn possible. The aim is to make profits, but being calm, enjoy trading and securing the trading amount is a priority.
Based on your experience and the statistics on your EAs, according to the profitability, have I made the right choice or maybe I should have started with the EURUSD EAs or the GBPUSD EAs?
5. I found out that I need to have my laptop testing the EAs 24 h a day. It won’t be possible since I need to keep my laptop to last as long time as possible. I can’t buy another one.
– Is it ok to test the EAs for several hours a day only? The maximum I would do is 8-10 hours.
– Can the laptop be in a Sleep mode while the testing is running on the MT4?
– When I stop the testing should I disable the “Auto Trading” in MT4 and then enable it when the test starts again on the next day?
Thank you!
Hello Ivelina,
Welcome to the Forum. Sorry for taking some time to answer your questions, but during the weekend I have a bit more time for the Forum.
1. In this course, I did not include the EAs because of the different time zones in the world. Every student will have a different time zone with the broker he uses. Simply, the hours that are with us for the trading sessions will not match the hours in the US, UK or Australia.
The best thing you can do is to generate EAs with your broker, using the settings and the method I show in the course. This way, you ill practice the process.
2. Keeping an eye on the accounts is a must. However, in the courses, I share how I do it. This does not necessarily mean that it will work for you. You can change the EAs every weekend, but the more often you do it, the faster you will catch the EAs that are getting into the stagnation period.
3. I personally check all the EAs at the end of the month. If I see that optimization is needed, I do it. It is a fact that the market changes all the time. And the EAs are created on past Historical data. Every month we get new data. And if the EAs start to lose, we can optimize it, or remove it from the account and generate new EAs which will be generated using the new one-month data.
Trading with the EAs is an ongoing process. The illusion that we put EA on the account and it will make us money constantly, is more for the people who sell EAs… Unfortunately, many people catch on that.
4. Your strategy sounds exactly what you should be doing. However, do not hurry with the live account. Open a second Demo and practice with it. Use 2 Demo accounts (1 imitating a live account) until you are confident in managing the EAs.
5. You have EURUSD EAs from the 99 course. The voice is great.
If you want to do accurate testing, you need to have the MetaTrader opened all the time.
If you close or disable the auto trading the EAs will not work and your statistic won’t be accurate.
You can trade only during the London session, but in this case, you will need to use the System from the first course, and create EAs just for this trading session. If the laptop is off during the rest of the day, it won’t matter.
Cheers,
Petko A
No problem, I understand, Petko. Thank you for your reply!
I will add some notes to the questions and I will keep their original numbers:
1. I see what you mean about the EAs for the three trading sessions. I could create EAs once using the free trial of EA studio. The problem is that I won’t be able to update them. I don’t have the opportunity to buy a licence.
If you create EAs for the three trading sessions can I ask you to send them to me since I use the same time zone? I’m in Bulgaria and I use the JFD broker.
2. I understood, thank you!
3. My question is related to the EAs in the courses which you update each month or every few months (when it’s needed). In case I don’t have a licence for the EA studio, it will be ok just to use the EAs you provide, correct? I don’t need to do anything additional on them with the EA studio because you’ve taken care of this?
4. Thank you! This is exactly the way I will proceed.
5. Since this is the first time I will ever test EAs, I need to make sure I understand the technical side:
5.1 When I test any EAs I know that I shouldn’t switch to any other time frame, but to stay on the 15 min. charts, correct?
5.2 In case the laptop is running 8-10 hours a day is it ok just to check the statistics based on this time period and use the EAs that performed best in a separate demo account?
I know it’s not the best solution, but I have no choice for now.
5.3 In these 8-10 hours I will not shut down the laptop. Will MT4 continue working if I put it in a “Sleep Mode”?
I was also thinking to change the trading hours of the EAs I have purchased and make them work only in the London and the NY sessions, or just to create new EAs for these sessions, but then I realized that I can do it only once. The reason is the same – I won’t be able to use the EA studio after the trial period and optimize the created EAs.
Thank you very much!
Have a great weekend! 🙂
Hello Ivelina,
Glad to hear from you again.
1. You can create the EAs during the trial period and use the MT optimizer after that to update them. I can’t promise to send personally EAs. We have over 20k students now, and if I start doing that, 24h won’t be enough for me to do just that.
3. Yes, I update the courses where it is said that I do. Tomorrow I will upload the new updates.
5.1 Yes, the EAs work on the opened Time Frame
5.2 You will mess it up. When you close the laptop, the trades will remain open. The exit conditions won’t work.
5.3 I don’t think the MT will work in a sleeping mode
What you can do is just generate EAs for the hours you want to use for trading, and after that, you can optimize the EAs with the MT optimizer.
Cheers,
Petko A
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