I’m new with EA. What are my options of running my EA 24/5?
Your options:
- Install and run mt4+EA on your computer, leave it connected to internet 24/5 or 24/7.
- Buy dedicated server instead of your pc, install everything on it.
- Learn using google
It is, but there are terms and conditions eg $5k account, 10 trades per month. You can get a virtual private server for $30 per month. My advice is run MT4 and your EA on a PC and back test, forward test on a demo. If all is good, start with a micro account and then look into beefing up the hardware with a virtual private server. Good luck.
Thanks for the reply. $5k is a lot. Does that VPS reliable? Can you suggest one? Can the VPS used to host website too? I have already run it at strategy tester. That should be enough?
It should be reliable. Loads of companies offer VPS, you can do what you like with them, host a website, install MT4. The main benefit is that you will be connected 24/7 to the internet. I don’t have a VPS so couldn’t recommend anything yet…
First of all, there is no EA that will run profitably 24 hours a day. Market conditions change almost constantly, so trade setups which would be good at one time of the day will lose you money at another time of the day. It sounds like you are new to trading from the questions you are asking. Complete the babypips school and learn to trade successfully on demo before you start to look at EAs.
I will say it again, no EA will work for you 24/5. There is loads of stuff to know about running EA’s before you start and if you are gullible enough to fork out on one of the many “cons” on the internet which promise you can sit back and watch the money role in, go make that mistake and come back when you are ready to learn.
there are no short cuts to successful trading.
Also, no EA can replace your mind, none of them can account for natural disasters and none have intuition or the ability to learn how price action varies from hour to hour on any pair.
I echo Scottish Mike’s words of wisdom but also would like to add that EAs are benefitial in that they can send you alerts when certain conditions are met (instead of you sitting in front of screen all day). They are also useful in back and forward testing. But don’t kid yourself, you won’t be able to create or find an EA that runs on autopilot and brings in the money consistently… if that were the case hedge funds & investment banks wouldn’t need so many staff.
lol, if that were the case, we would have no world hunger, no poverty and probably be on the way to curing all known disease
Can I just add that I like EA’s and I run them myself. The main point of that was that there is no substitution for learning how to trade manually.
Also most EA’s that are good and work are programmed around a strategy that someone already trades with manually, and that strategy would be dependent on many factors specific to that person, the equity they have available, the time zone the trade, the risk they feel comfortable with - many aspects which probably would fit few other people.
Like Mr chilled pointed out, EA’s can be used simply to indicate trade conditions, or they can be the full whammy trading robots. There are more of the former and much much less of the latter around, IMO.