Going Live
Have you tested your EA on a demo account, using the same Dealer, account type and parameters you want to use "live" ?
Thanks phy.
I have tested my EA offline, using MT4. Don't know how to test it with the broker. Is it possible ????..........I really don't know. Thats where I need advice from experts like you.
What do I need to do in order to test my system with broker's demo. Does it require setup at mt4 level, or at the broker level.
Thanks phy.
I have tested my EA offline, using MT4. Don't know how to test it with the broker. Is it possible ????..........I really don't know. Thats where I need advice from experts like you.
What do I need to do in order to test my system with broker's demo. Does it require setup at mt4 level, or at the broker level.
CK
When they last mailed me recently, FXCM are still not ready to host MT4 accounts - they have been 'nearly ready' for a year but nothing so far :(
Latest position on beta rollout is at http://www.fxcm.com/metatrader.jsp
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Anyone with an existing manual FXCM account would have to move money to a separate/additional MT enabled account (presumably on a new data centre)
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As phy says, you must first optimize & then run the EA on the brokers demo account first ( for 1-3 months), then re-optimize on the live account before going for it!
Expect differences in results on the live compared to the demo...
-BB-
Thank BarrowBoy,
when you say separate/additional MT enabled account, do you mean I would need to change my broker??? If yes, then what are the options available???
CK
I am guessing you just have an MetaTrader demo account?
If you already have a broker but they do not have accounts for MT, then you will have to change.
My point about FXCM is that they are only at the beta stage & not yet ready for a general roll-out of MT accounts.
There are a large number of brokers that are ready for MT
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No master list appears to exist, these are just some of the available sources:
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https://www.forex-tsd.com/metatrader-brokers/5111-metatrader-brokers-list-compiled.html#post71850 - perhaps the longest list can be downloaded from here
http://www.moneymakingforex.com/metatraderbrokers.htm
http://www.earnforex.com/forex_brokers.php - some with some without MT
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Note
No approval or disapproval is expressed or implied by a broker being listed or not listed above :)
-BB-
Oh, Yessss BB. You are right. Just recalled that my MT is running with Al-Pari, and I registered for a demo account with them.
What is the recommendation to go live with AlPari.
In your previous message you recommeded 1-3 months of the testing.
CK
Stay with Alpari - perhaps the only brokers to host an official forum? See http://forum.alpari.co.uk/
They also have micro accounts, for 0.01 lots - see https://alpari.com/en/services/mini-and-micro-forex.html
If the EA shows a backtest on the demo account with a Profit Factor of 2.0 or more and a net profit of the same order as the gross loss (forat least 100 trades), then run for 1-3 months on demo account.
If the results hold up, you could open a micro live account, re-optimize the EA on the live account data and if the same PF, etc occurs you can then let the EA trade live - with realistic stop loss - which should be part of the EA now and be part of optimization... yes?
If the results of forward run of EA do not match back-test, then it is likely your EA is vulnerable to price spikes, spread variations or trade server delays.
Good luck
-BB-
Thanks BB.
1- Just trying to understand the spike issue. What is it, and how can I control it through my EA.
2-What is the recommended slippage for this broker, and how should it be programmed.
3-They also mentioned that on live accounts, the order is placed by the broker, and not automatic. Didn't get this point at all???
4- I have got a maximum PF of 1.5 so far. Should I hold going live with this PF????
I just read the following on their website:
- On the demo account deals are processed automatically (by the server) whilst on the live account they are processed manually (by a dealer). Making a trade usually takes 1-2 seconds on the demo account and 5-15 seconds on the live account (under normal market conditions).
- On the demo account you can trade on spikes. A spike is an obviously wrong quote which appears in MetaTrader 4. On your live account you will not be able to trade at such prices.
1 - A sudden change of Ask &/or Bid price - may be 'valid', i.e. a sudden general move & reverse by the whole market or 'invalid' relating to non-acceptance of an order fill at any price, e.g. during major news releases
2 - Depends how important it is to get on! Depends on time of day, pair, frequecy of trade. Most people use 3 on any broker, I generally use 5 cos I'm not scalping! Its programmed in the OrderSend()
3 - I think they are covering themselves here, I believe much is automated, its just in some periods there will be significant delays by the broker or its trade server which you handle in code, see this '2 EAs, 2 same charts 1 account'
4 - No!
-BB-
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Hi,
I am a newbie, and have prepared my EA. Now I want to go live. Can anybody let me know whats the procedure. I amy go with FXCM.
What setups are needed on MT4 to allow my EA take control over Live trades. For mini trades, what should be the lot size fixed on my EA. Some borkers do ont allow 0.1 lot size on the mini accounts. Whats the trade off???