Forex algorithmic trading strategies for the Top 10 GBPUSD EAs course
Forex algorithmic trading strategies is the core of our trading course. Hello, dear traders, and welcome to the10 FAQ for the Top 10 GBPUSD Expert Advisors Forex Algorithmic Trading course. I will answer the 10 frequently asked questions that I receive for the course and I will give more details about each one of them.
1. “Should we avoid trading with the Expert Advisors from the Forex Algorithmic trading strategies course at the end of the month, at the end of the year, or any other time?”
Now, personally, I aim at full algorithmic trading. This means that I am trading all the time but true, I avoid ending the year. The last two weeks of December and the first week of January.
First of all, I take a rest during this time and second is that during this time there are huge transactions that happen on the market and they impact the Forex market.
These are huge transactions between corporations, companies, and banks. Huge companies taking their profits, exchanging into their currency. And I’m talking about millions and billions here so any of these transactions, they impact the market.
And it’s an expected move that comes which normally will cause you some losses. It could profit with the Expert Advisors but, I can say, there’s some uncertainty during this time. Also, many traders avoid trading during the last day of the month, so every last day of the month but I don’t. I keep it trading all the time.
So it’s up to you. With some Expert Advisors, I have concluded it is better to pause during the news, with some I see it’s great to trade all the time. But as I said already, I aim at fully algorithmic trading.
So I aim at trading all the time no pausing.
2. “When there is some uncertainty on the market as Brexit should we avoid trading with Expert Advisors?”
Now, guys, there will be always uncertainty on the market. It will be Brexit, then it was the Russian ruble, for example, the Bitcoin crashed if you are trading Bitcoins with Expert Advisors as I showed in many of my courses. There will be always some uncertainty, there will be always an event in some country which will impact the Forex market.
But keep in mind guys, this is the Forex market. That’s why it has this huge variety of currency pairs, of assets to be traded, especially with the Expert Advisors we have the chance to trade so many different assets. They represent the connection between different economies especially the currencies.
So exactly this huge news and events, these are the things that are moving the market. They cause volatility and we are looking to trade the volatility. We will need the volatility trade with Expert Advisors.
So I can suggest especially for the GBPUSD, and if there is something with the Brexit, or after time it will be something else connected to Great Britain when you have Stop Losses in your Expert Advisors, nothing dramatic will happen. It could be some dramatic, I can say, move with the GBPUSD but if your Stop Loss is there with Expert Advisor you will not really have huge account losses.
3. “Can I trade in one account $1000, the Experts Advisors with 0.01 lot?”
Well, I normally avoid to suggest any trading amount but I receive similar questions not only in this Forex Algorithmic trading strategies course. Like people share how much they want to trade, “Is it alright with this lot?” I always suggest the students and the traders open live accounts after they have tested the same amount on a Demo account.
So first, open the Demo account. If you are planning a $1000, open a Demo account with $1000. Test it with 0.01 for some time, see how much margin will be left in your account. Because it depends a lot on the leverage you are using.
But in this case, no matter the leverage you’re using with 0.01 I think it will be fine to trade the 10 Experts Advisors with $1000 of an account. OK? But always what you’re planning for the live account, do the very same thing on the Demo, see how it’s going and you will decide for yourself. Is it enough, is it too risky, should you increase the lot or reduce it.
4, ” For how much time should I trade the Expert Advisors from the Forex Algorithmic trading strategies course?”
Now there is no precise answer to this question. And I cannot say anything because probably it will be wrong. We never know how much time the Expert Advisors will last on the market.
Because it depends actually from the market. And this is why I update the Expert Advisors from time to time, like every 2 months or every 3 months. Simply at the end of the month, I check if the Experts Advisors are doing good during this month, if it was needed to make some change with any of the Expert Advisors, so they will be working better according to the recent 1 month and I simply add the historical data from the last month.
And I improve the Expert Advisor. So we never know how much time one Expert Advisor will last. Recently, I had some comments on the forum that people are using one and the same Expert Advisor profitable from last October, which made me really happy.
So this means that for 6 months, one and the same Expert Advisor that I shared in last October made a profit which is just great. It makes me happy. But it doesn’t happen all the time. So we never know how much time one Expert Advisor will fit the market conditions.
5. “Do you update the Forex Algorithmic trading course with new parameters for the Expert Advisors or with new Expert Advisors?”
Particularly these top 10 GBPUSD in the Forex Algorithmic trading strategies course, I update with new parameters of the Expert Advisors. As I said, at the end of the month I check if it is needed or it’s not needed, and I do an update. But I don’t create new Expert Advisors in this course every month.
Because these Expert Advisors are already trading quite a long time. I’m just updating them, they work fine. I really don’t get any negative feedback for the Expert Advisors so far which makes me happy.
Because it’s not only me testing them, there are already hundreds and thousands of students testing them, which actually gives me a better idea of the Expert Advisors and so far I don’t see a reason to change them. Of course if one day I see such a reason, I will do my best to create new and even better Expert Advisors if possible.
6. “As your students, can we get discount for EA studio license?”
Well, guys, this is one of the frequently asked questions that I receive. Yes, as our students we do our best to get some discounts from the Forex software company. And they always give some discount which is really nice.
And just write to our email at email@example.com and my colleagues will assist you with that.
7. “Should I perform a backtest with the Expert Advisors that you include in the Forex Algorithmic trading course?”
It is good always to make a backtest with any Experts Advisor before placing it on the Demo account. Now if you see the backtest is great you can just go ahead and trade with the Expert Advisors. If you see that it’s not really what you expect to see, it is good to perform optimization.
But make sure first to do the optimization with round numbers. Steps of 5 and 10 and to run some robustness testing as Monte Carlo, Walk Forward and Multi Markets when you do the optimization. Because the chance to over optimized the strategy is huge and you really don’t want to trade over optimized strategies.
8. “What is the good money management with the Expert Advisors for these Forex algorithmic trading strategies?”
Now as said above, I avoid suggesting trading capital, starting amount and the money management, of course, I can tell you that you should not risk more than 2 to 5% from your account. And when I say 2 to 5%, this means that if you are trading these 10 Expert Advisors and you have, for example, some 200 or let’s say 300 pips as a Stop Loss. So you should look at the Stop Loss of all Expert Advisors, calculate it, sum it and see what is the maximum.
Now let’s say the worst-case scenario, you have the 10 Expert Advisors hitting the Stop Loss at the same time, or let’s say the same day which I don’t think will really happen. But this is the worst-case scenario. You should know how much is that risk at one moment.
And this risk should be no more than 2 to 3% or maximum to 5%. So the sum of all Stop Losses in your trading account and this is not only with this course, but with any course, with any strategy with any system. You should always know what is the maximum Stop Loss that might happen to you.
And especially if you are trading with a couple of Expert Advisors, you need to summarize it. And you will need to calculate with how much you should be trading in order to avoid losses bigger than 2 to 5 % from your account.
9. “If we create Expert Advisors by ourselves, can we sell them?”
Absolutely. If you are using EA Studio and you generate strategies and you export them, they are yours. You can do whatever you want with them.
You can sell them, you can share them with friends, it’s up to you. There is no property, I mean Forex Software Company does not hold any property for the Expert Advisors. Because first of all, it is useless.
Second, the idea of the software is to give freedom to the traders. Freedom to have as many Experts Advisors as they wish and to do with them whatever they wish.
So you can trade with them, sell them or whatever will be beneficial for you.
10. “When I restart the computer will the Expert Advisors continue to manage the trades?”
Now the magic numbers come in handy here. If something happens with your trading platform, the computer restarts or you lose internet connection for some reason or anything, the open trades you have, they are with the magic numbers. And when you start the platform again, the Expert Advisors will recognize the opened trades using the magic numbers and they will continue to manage them.
Now, of course, if you pause for a long time like a couple of days, probably some of the trades will be closed. This is because of the Stop Loss or the Take Profit.
If you have Expert Advisors without Stop Loss or Take Profit they will not close. Actually, they will have exit conditions. They might close. Even the Expert Advisor is not working or even your platform is not on.
But if it is a quick restart, the Expert Advisors recognize the opened trades because of the magic number. And they will continue to handle it.
So these were the 10 questions guys, that I received for the Top 10 GBPUSD Expert Advisors – Forex Algorithmic trading strategies course. If you have any other questions, write in our trading Forum where already many traders joined, many share their experience and results, which is great. You’re very welcome to do it.
Wish you to have a wonderful day! And always enjoy the trading.
See you inside the class.