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Hello Andi,
No silly questions here. You can use the GBPUSD strategy on other currency pairs, but make sure to optimize it properly. You may use round numbers for the parameters, and also you should perform robustness test as Monte Carlo to see if you did not over-optimize the strategy.
Hello Jackie,
Unfortunately, Andi is right. All the brokers offer small Historical data for new accounts.
However, if you have a regulated broker, you will just need to collect the data. It is not that big issue, just takes time to create more robust EAs with EA Studio.
Hello Edu,
good question here! When we have adding to the position we consider it as one loss, because we close one position. Even we added few times, at the end it is one position that closed.
Some platforms add to the position, and when you open 0.1 lot for example, and you add another 0.1, you will see 0.2 opened trade. But Meta Trader shows it as different position. However for the strategy/expert advisor it is one.
And if we say 10 trades, it means 10 different positions.
Kind regards,
Hello Edu,
You are welcome, let me know if there is something more. Actually there are two courses for the Markets opening, one is for manual trading, the other one is fully algorithmic. Both systems are very different. But in all trading strategies, the money management is key point.You are lucky you saw the Forum. I was late….anyway I have stable profits now the last two month using Petko’s Expert Advisors and some that I have created, so I really hope to recover the loss soon.
After I was scammed from the brokers, I do not belive them anymore. I am glad that Petko teaches how to avoid the scam brokers.
So when they actually change the quotes in the different servers, or provide small Historical data, it is legit, right? Even they are regulated?
I have noticed that as well. I had to collect data two times for one broker…I feel they work really against the client when it comes to algo trading, with these small tricks. Also, the small Historical data when a new account is opened! Why?
It is a rhetorical question. obviously because if we have a lot data, we will have robust strategies from the start!
It is very important as well to see same results from the Demo account and the Live account in the broker. Some brokers do not. They provide totally different quotes on both. There could be a change as well if the spread is different.
Also, if you are trading on live account, it is good to use the Historical data from the live server(even you see no huge difference in live and Demo).
More, keep in mind that some broker show different data on the different live servers. So if you collect data from one server, and then you open another live account(the broker might automatically open the account into another server) than you will need to collect data again if there is difference.
And I would remove the EA due to consecutive losses if they reach the maximum consecutive losses this strategy had in the backtest. So if in EA Studio I see that a strategy has 10 consecutive losses for the whole period tested, and on Demo it goes to 11-12 consecutive losses, this means that probably the strategy was over optimized. Same with the drawdown, and the other parameters
Hello Edu,
Money management is the key into trading. Many traders lose money because they have wrong money management.
My systems in trading teach that we should trade many Expert Advisors instead of one, and this is for two reasons:
1. We achieve better diversification of the risk
2. We achieve more stable profits, because we catch different market conditions
Now, have in mind that when trading many Expert Advisors nearly half will be buying, and half will be selling. This means that you will not really have an issue with the margin in the account.
Here is how I keep trading the total lot amount:
1. If you trade $500 to $1000 – go for 0.01 lot size on each Expert Advisor.(maximum 10 EAs)
2. If you trade with 1k to 2k – go for 0.1 lot size(maximum 10 EAs)
3. If you trade with 5k to 6k – go for 0.5 to lot size.(maximum 10 EAs)
4. Above 10k – you can trade with 1.0 lot size per EA(maximum 10 EAs)
But this is how I am doing my money management.
Try it out with a Demo and figure out what lot size fits you the best in order to feel safe while trading.
Also, keep in in mind that instead of 10 EAs with 0.1, you can trade 100 EAs with 0.01. Just what I showed in the last course – Trading Portfolio Expert Advisors.
Let me know if there is anything else about the money management.
Very Interesting topic here, guys. Even you try to avoid the Demo, make sure always to place the EAs there, even for day or two, just to see if everything is fine with it. Check out the journal for any errors or mistakes. They are not expected with EAs from EA Studio, but…just in case.
It is really all about testing and testing and testing…
what I found for me to be successful is to keep generating EAs daily, testing them, and placing on live, and removing from live, and all repeats again.
However, I more and more start to trust EA Studio, and I want to remove completely the Demo testing. Petko says in his last course that the Validator does the same job, and I have convinced in that by myself, but still I want to see the EAs first showing profit on Demo and then on Live. Because he profit that we miss to take on live is too big – 10 trades in positive is something great, that I want to see on live and not on the Demo first