Friday, 18 July 2008
Trading multiple pairs with AutoPips EA
Some answers from the author of this EA;
I am a firm believer in forward testing. to me backtest is actually meaningless. but alot of people like to backtest data n look for results. i think the best and most accurate way is stil forward testing.
I think the ea works the best if u spread the trades to 5 pairs. risking each trade to 5% max. this means total risk is 25% only. diversifying to 5 pairs is better of than trading only 1 pair in my opinion.
The risk you use in your setting is 30% which in my opinion is very aggressive but the returns are great. but if one has a lower risk appetite, then maybe they should set to between 3 - 5% only.
The latest account, less that one month old is using all 5 pairs, and the risk setting is 5% for each currency. The account balance is up 31% with floating loss of 4% at this moment.
Q.
Would you Kindly advise how I can attach it to the metatrader platform?
Will it be possible to run this EA as well as other EA's on the platform?
A.
Yes you can run it with others as long as the magic number is unique.
You attach it to the platform by copying it into your experts folder in your platform installation.
Then from the expert advisors panel in the navigator, drop it onto a chart, and make sure live trading is enabled.
I am a firm believer in forward testing. to me backtest is actually meaningless. but alot of people like to backtest data n look for results. i think the best and most accurate way is stil forward testing.
I think the ea works the best if u spread the trades to 5 pairs. risking each trade to 5% max. this means total risk is 25% only. diversifying to 5 pairs is better of than trading only 1 pair in my opinion.
The risk you use in your setting is 30% which in my opinion is very aggressive but the returns are great. but if one has a lower risk appetite, then maybe they should set to between 3 - 5% only.
The latest account, less that one month old is using all 5 pairs, and the risk setting is 5% for each currency. The account balance is up 31% with floating loss of 4% at this moment.
Q.
Would you Kindly advise how I can attach it to the metatrader platform?
Will it be possible to run this EA as well as other EA's on the platform?
A.
Yes you can run it with others as long as the magic number is unique.
You attach it to the platform by copying it into your experts folder in your platform installation.
Then from the expert advisors panel in the navigator, drop it onto a chart, and make sure live trading is enabled.
Labels: AutoPips EA, multiple pairs
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