Forex EA Robot Trading Blog

Im posting all the questions that come up in emails as i think they provide really valuable information on all the aspects of running the EA.


1. If u have a 5k standard account, would the 7 currency pairs stated below be appropraite or risky?
GBP/CHF, GBP/USD, GBP/JPY, EUR/JPY, EUR/CHF, USD/JPY, USD/CHF

This is too many pairs and potentially too many positions open, i personally would focus on GBPJPY and/or EURJPY, especially with current market volatility


2. Given the 7 pairs stated, setting the EA to conservative trading, will it be possible for over bought positions and can get margin out?
GridMesh: 100.0
GridMaxOpen: 10
Risk: 0.5

I would reduce gridmaxopen to 4 - this is a better approach, especially if you are trading a lot of pairs.

3. Is there a broker having server base meta trader 4?

yes there are quite a few brokers, here is a quick list;
http://www.myfxtools.com/faq/FAQ_brokers.html

Sorry if my questions are silly since I am still learning. By the way, I like the way EA trades. Main reason is:
*Not trading when down trend/against swap.

Your questions are very very sensible!

Labels: 5k standard account, broker, GridMaxOpen, GridMesh, Risk, risky

Q. I have started to setup the EA on a demo account. I have a couple of
questions. How do you know what leverage to set the account at (1:400,
1:100) etc.? Can the leverage be changed on the live or demo account? I
will have to start a mini account. Does it make a difference what broker
to open an account with when starting with a mini account vs. a
standard? Are there any big differences that might change my profits
between the brokers?

A. I would use leverage of 100:1 or LOWER. higher leverage magnifies profits and losses, which is not what we want to do when dealing with a long term low risk system. You usually set it when you apply for an account but most brokers will change it for you.

I personally use fxdd for the past year or so, and they have set up micro lots for me on a standard account, which is nice of them. I dont think it makes a huge difference, providing you make sure you can trade micro lots.

Labels: broker, Carry Grid EA, leverage, mini account

1.First on download/opening the EA - this contains 3 files not sure what to do with them - do I save all 3 to My Docs?

You need to follow the instructions on the download page. We will actually create a video for this shortly which will ease the whole process.

2 Which of the brokers would you use if you lived in UK and wished to only trade with small amounts?

I dont know of any UK MT4 brokers, the majority are in the US. I personally use fxdd with no issues. Again, there is a broker list on the download page

3. MT4 Account opening box - do I choose forex USD or another? I assume this is for a free dummy trading account?

Yes this is a dummy account if you are setting it up through MT4.

We are planning to create a series of videos shortly to help ease users through this and other common problems.

Labels: broker, EA setup, open account, video

I currently have a live mini account with IBFX. Is there any broker that would be better to trade the CarryGrid EA? Any recommendations?

Ive been trading with fxdd (i am not an IB this is a straight link) for the last couple of years with no major issues running the EA (although they did screw up my account once but they put it all back). I wouldnt commit major funds (>100k) to these brokers unless they are goverment backed in case of another refco type disaster. I am not aware currently of any brokers that support MT4 that are goverment backed.

Labels: broker, Carrygridv5