What is/are your favorite Expert Advisor? On which pairs do you run your Expert Advisors? On which timeframe? Do you follow a certain strategy, e.g. close all positions on Fridays at 6 pm or only run your Expert Advisors at certain times? At what point did you have difficulties? What else can you tell us about your experience with automated trading?
I’m a big fan of the Forex Fury EA for its consistency. I usually run it on EUR/USD and USD/JPY pairs, using the M15 timeframe. I normally close all trades by Friday evening to dodge weekend gaps. I also avoid running it during major news releases.
Do you stop your EA on news manually? Or is it build in?
I stop it manually
how do you handle with many skipped trades?
I currently have 13 Expert Advisors running on my live account. Pairs are Eurusd, Gbpusd, Usdjpy, Eurjpy, Gbpjpy and Xauusd because of their liquidity. The majority are on the H1 timeframe, but there are also some running on H4 and some on M15 with a secondary H1 timeframe.
The Expert Advisors run on 2 Metrader 4 instances. Since one instance has 8 channels that it can fire simultaneously, I have made this division. However, I am also aware that the H1 timeframe is not really important down to 1 second. But as a scalper trader you should pay attention to this.
I reorganize my Expert Advisor from time to time. My rule: If an EA shows a negative impact over a year or doesn’t participate in the trading game at all, then unfortunately it has to go and doesn’t get a photo from me.
I first had a VPS with a hoster with 2 CPU cores and 4 GB RAM, which worked, but wasn’t very performant in terms of operation. After switching to 4 CPU cores and 8 GB RAM, everything runs much better. As for the size of the hard disk, you can take the smallest one available. Since you should only use this server for trading (and not for backtests, etc.), you can save a lot here. This is particularly interesting for most beginners. These costs have to be included in the overall profitability.
Honestly, I still face challenges with skipped trades, but I try to reduce it adjusting my trading hours and ensuring my settings are optimized for volatility.
You know that you can’t count on results from backtest right?
Yeah, I know the results aren’t always reliable Do you have any tips for getting more consistent results in real-time?
I think what ProfessorPips means is, and please correct me if I’m wrong, if you interfere with your EA with manual interventions, you can’t rely on the backtests. Because during a backtest the manual interventions do not take place. So you should get very different results. This is not due to the backtest data.
One rule when trading with Expert Advisors: Do not intervene manually! (Unless it runs completely amok )
I was on the developer website… well, you can trade on another account, maybe cent? where you will not touch anything, then you can compare results and draw some conclusions. If you manually intervention, your profits and losses not match, that means you can evaluate EA as lose profitability but in reality EA will be ok.
Do you usually check the market news before running the EA, or how often do you check the market?
Yeah, I always check the market news before running the EA, and I monitor the news daily to stay informed.