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Hello Sharapova!
Very good post here. You are very correct that with manual trading we can not have such statistics for any strategy. Simply because we can not execute the trades from Monday to Friday without a miss. Or even one trade for 8 hours and hires another 2 to cover the other 16 hours. Imagine what would be 3 people trading for 1 strategy, or maximum 2-3 if they can do it simultaneously. And I know there are people doing that…
Keep in mind that there are very good manual traders but they do not know actually there are Expert Advisors. Because they are so concentrated in their manual trading, no time to look for something new or an easier way to do the trading..
Hey Mery,
yes, you can not see exactly the consecutive losses in FX Blue, you can see the winner and the losers there. So one of the things you can do is to keep an eye when you have 10 trades and see how many of those were the losers. Let’s say you want to have win/loss ration of 0.7, this will mean that you can allow just 3 losers. After that, you can restart it when the strategy goes to 10-20 trades. Or you can restart at every 5 trades.
The other thing you can do is to bring back the strategy in EA Studio and from Data horizon you can set as a start the date when you started trading with the EA. And you will have a detailed statistic for the strategy. Basically, you can import 10 EAs, update the Historical data and see how they go, what stats you have, but just make sure to set the start date.
The consecutive losses in Forex are just an example for that, you can do it with the profit factor, the r-squared, max stagnation and so on…
How to follow the consecutive losses in Forex trading with the EAs? I am not sure if I see that in FX Blue?
Hi Petko and Steve, I am looking at the indexes for some time, but for the moment I just collect Historical data.
Want to make sure I do it the right way so having a course about it will be very useful to me for sure!
Regards,
At the beginning, I did the same mistake to switch between Demo and live account, and worse I was placing and replacing EAs in the same MetaTrader. Of course it did not work and I realised quickly the mistake 🙂
Hi Petko, yes, it was very useful to me, even I have most of your courses. In every video of yours, there is something new to be learned.
I have seen in some places that people say backtesting Forex strategies is useless because it does not guarantee future performance. Well, this is true, and everyone knows that there is no guarantee for future trading, but at least we have something, right?
If one uses manual trading and does not have an Expert Advisor how he would know the performance of the strategy? Not possible. It is not possible to backtest looking at the chart. I know many try to do that but they are not familiar with the repainting factor.
Having Expert Advisors is the only reliable way we can do backtesting Forex Strategies and especially with EA Studio we can see so many details:
Hello Thapelo,
Glad to hear from you.
1. Yes, if you are trading with sideways indicators you aim at buying when the price is cheap and selling when the price is expensive. So yes, you better combine it with another sideways indicator or at least the rules of the indicators to be similar. It could be a Simple Moving Average but if the rule is to buy when it changes it direction downwards it becomes a sideways indicator, right?
2. Really hard to say which one is better. I have many strategies that perform fantastic with one entry rule. The idea is that when you use one indicator you will have more count of trades. When you combine a couple of sideways indicators, you will get the trades filtered and the trades will be less.
3. The indicators are the same for any asset.
Hey Haliffa,
Glad to hear you sharing your experience. Yes, I agree as well that on the small time frames it is better to have many count of trades. Of course, you would need more Historical data.
Hey Andi,
Glad to hear from you. I would not correct you because I use the very same thing with some of my accounts.
Let’s make it clearer to the beginner traders what is consecutive losses in Forex trading. This is how many losing trades in a row we have when generating a strategy or backtesting one.
Now, when Andi says that he uses 5 consecutive losses, it means that he aims at strategies that have no more than 5 trades losing in a row.
So yes, it makes sense to keep the same rules when generating strategies and when trading on a Demo to filter the EAs for live. The consecutive losses in Forex strategies are quite interesting and easy to follow when trading as well.
Hey Thapelo,
glad to hear that the method I showed works nice for you 🙂 I am very OK if anybody shares anything in the forum. That is why it is a Forum, everyone can say anything(of course in a polite manner and no scammy stuff).
The Portfolio Expert Advisors give so many different opportunities that I am still exploring them.
Hey Andi,
you are correct it is a good combination. We are working on a product that will be even better than FX BLue because we want it to be suitable for the strategy builders. This way we will avoid any problems with FX blue.
For now, make sure to follow the exact steps when connecting your account:
Problems with FX Blue may appear:
- click on FX Blue live
- select the correct type of platform you use – if you use MT4 but you Register for MT5 it will now work
- fill in the broker’s server, the account number and the read-only password (not the account password)
- enter your e-mail and click on Register (you can use one e-mail for many accounts)
- click on account sync and click on save (without any changes)
If you follow these steps you should not have any FX Blue problems.
Glad to hear you liked the EA Studio start-up trading course. Its idea is exactly to give an idea about the software, what steps to be followed and I decided to be free so everyone who wants to learn more about algorithmic trading and strategy builders can have it.
Hello Thapelo,
you are actually correct! The leverage in stocks trading gives the opportunity to the people to trade more stocks from what they can afford. Many accept it as very risky because they do not know how to use the leverage really. This is the problem. Many beginners blow their accounts because they take a too huge risk. Probably around 70% of the people lose all their money in the account within the first 1 month.
Now if 70% of the people lose quickly and they start to talk that it is risky, and leverage in stocks trading or in Forex trading will blow your account. Yes, this is what the mass of people will talk, write in forums, complain in social media and this what everyone else will hear.
