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In this topic, traders shall post general questions and comments about the robots generated in EA Studio.
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i would like to ask what is the difference between Forex robot and expert adviser? I am quite new in this field and I have already Fsb Pro but i am quite confused when i export strategy from there is it a Forex robots or it is expert adviser? I see that Petko is never mentioning Forex robot, but i have met it already many times around, so is it sth different or its the same?
The true name is Expert adviser. Forex robot got popular from the sales men who actually are selling expert advisers but calling them Forex robot. Why they do that? Because they promise to the people that once you buy it, it will do the work for you, it will make you up to 85% on a single trade, its fully automated and so and so on.. Basically that all is not true.
The name is Expert Adviser, for a reason. It is a tool that automates your entries and exit rules and conditions for the strategy. That all it is. Its giving you signals or entries. But you need to use your experience about the trend, about the moment you are using it, about the Fundamental news that are coming up etc.
Basically it is adviser, not a robot. The word robot just misleads the people that when they buy one expert adviser they will put it on the platform and it will make money for them consistently for years…don’t expect that.That is why in the course Top 5 Forex Strategies i explain clearly that these Expert advisers are the automated version of the 5 strategies. You need to find the way that you will use it or not use it at all. We do our best to maintain them as stable as possible and we do see positive results on the end of each month so far, but as you know past performance does not guarantee future success.
So far I was thinking that expert advisor is a human being. And the first time I saw some your courses with 99 expert advisors, I was really frustrated 🙂
Hey Casandra! 🙂
You made my morning smiling 🙂 We can not afford to provide 99 Human trader to each course to each student..
Now seriously, the expert advisor actually does much more than a human:
1. It does not get tired and trades all the time
2. It catches each trade when all trading conditions are met
3. Does not have emotions which is the main reason why traders lose in manual trading
Cheers
Hey Petko, you are right about that. If humans trade it will be impossible to have portfolio of strategies.
Imagine for one day trading with 2-3 strategies you will need 3 people trading 8 hours each.
I do not know why I traded so many years manually….really I feel pissed off that I lost so much time and money…
Anyway, in the same time I feel very motivated with EA Studio and the courses from Petko. Thanks so much!
Hey Andi,
Glad to hear my courses motivated you.
Do not worry, most of the students that take the courses has traded manually and lost some money. This is the usual way people find the algorithmic trading…unfortunately. I hope with the time it will get more popular, and the beginner traders will start with it.
Kind regards,
Petko AHi Petko,
You may have answered this question in the course, I’ve gone back through it but can’t see.
My question is with each monthly release of the EA’s are they updated versions of the previous month or totally new ones?
Thanks
Chris.Hey Chris,
I am not sure about which course you are asking – the 99 Forex EAs, 99 Bitcoin EAs or the 99 Ethereum EAs, but for the three of them I create new EAs every month.
So the new EAs that come are totally new and different.
Now, to make it a bit clearer the courses with Top 10 EAs for the EURUSD, GBPUSD and USDJPY, I update the EAs every 2-3 months when ever it is needed.
Let me know if there is something else.
Kind regards,
Petko AThanks for the information Petko!
I have all of your courses which are great!
I was also thinking that you update the 99, I did not know they are different…that is amazing!
Good day, Petko.
With the EA’s that you generate in your courses, you mentioned that you generate the average parameter values for different brokers that you used in generating the strategies so that the EA’s would have the similar performance for many brokers (although not all). Given that,
a. What are the things that we need to do inorder to check whether the EA’s would perform well with our broker? I’m assuming that we upload the EA’s onto the softwares (EAS/FSB), import the historical data of our broker, and see whether there is a (huge) difference or not in the performance. Am I right by saying this? Are there some other things that we need to consider aside from what I’ve mentioned?
b. Suppose the EA’s are not giving a similar performance with the historical data of our broker, what do we need to do inorder to arrive at a similar profit line relative to your backtest when you initially generated the strategies? Should we optimize the EA’s?
c. May I know which brokers you used in generating the strategies, and thereafter, coming up with an average value of the parameters found within each strategy?
Cheers,
Jay-R
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