I often read in this section “The EA is making money” but what does this mean? “making money” is very relative, for someone could be making 10% a year, for some 10% a month, for others double the capital in one week (yeah you wish!)
Can you quantify how much money you are making with figures, percentages, draw down
Depends what sort of Strategy your EA’s are based on and what strategy is best suited for the current market.
I personally prefer Asia Scalpers because the trades open and close quickly and while the P/L swings might be larger you are not stuck in the same trade for long periods of time … plus you can earn rebates - so even a break even strategy can make you money.
On a daily basis mine are set to max loss of 3% and daily P/L goes from -3% to +5%
This is pretty steady income.
What is not steady are the longer term strategies where the market can move for you or against you due to news or economic releases – wider stops and longer timeframes.
With these I’m looking for strategies that DD max 20-25% + return 50%+ (per year)
When draw-down is above 25% I would adjust lot size down and make sure this is something I really want to own.
Summary - from my total Portfolio I’m looking for 16-20% a month - with a combined drawdown of 25%
If you look at some of the EA’s in my Portfolio these are the Vendor Numbers – I tweak the settings - lower / raise lot sizes - exclude currency pairs + days to trade – to make them fit into what I am looking for -
Easywalker +37% 26% DD
Forex Diamond +38% 36% DD
Vol Factor +123% 50% DD
WS Asia +12% 7% DD
WS Recovery +52% 31% DD
the trick really is in the Vendors – Live Accounts Real Results --> trusted Brokers.
when my trades match the Vendors 100% I know things will work out.