Trading EAs for the first time, have several beginner questions.
I have finished coding up my first 2 EAs, and I would like to forward test them on some small accounts.
1) Currently, if I run both systems on one main account, then won't their stats all blur together(winrate/pf/drawdown)? Do I need to be manually tracking each system independently? Or is there a way for MT4 to measure each system separately?
2) The other thought is that I have Oanda as a broker, and they allow me to create sub accounts. I have looked into this but havent found anything: Is there a way for one MT4 client to trade several sub accounts with different systems? This would allow me to separate each system to its own account, keep it much cleaner.
3) My two systems trade the 4 majors. To initiate the EAs I have placed them on each chart, so I now currently have 8 charts open with the EAs running on them. Is this necessary? If I had 4 systems would I have 16 tabs open, etc? Seems like it could get messy fast.
I guess I just would like to know how to organize my trading with EAs. Thanks guys.
Hi Sanders,
1) Try using Magic Numbers to keep each EA unique and separately track your profit/loss results.
2) Don't know about "sub-accounts" for any broker...just multiple
accounts under one name may work? Keep asking the brokers until you find
the answer to this question. Not sure what you mean by "different
systems"...but some EA's can use multiple strategies in one EA...and
that reduces the number of charts you need to display.
3) Trading the 4 majors with 2 EA's sounds like they are "multi-pair"
EA"s...with 2 currencies per EA? If so...the answer to #1 should solve
this also...and no need to put them on separate sub-accounts or even
different accounts. The Magic Numbers should keep them separate.
You can also look at Trade Copier programs that send trade signals from one "Master account" to other "slave accounts".
4) Forward testing on some small accounts - I hope this means to forward
test on demo accounts first? Especially if these are your first EA's
that you've made? Risky otherwise to go live even on small accounts. Also what
results did you get testing your EA's in the Strategy Tester? Multi-pair
EA's can have testing problems in the MT4 Strategy Tester... MT5 can
better handle testing multi-pair strategies.
Hope this helps,
Robert
Hi Sanders,
1) Try using Magic Numbers to keep each EA unique and separately track your profit/loss results.
2) Don't know about "sub-accounts" for any broker...just multiple accounts under one name may work? Keep asking the brokers until you find the answer to this question. Not sure what you mean by "different systems"...but some EA's can use multiple strategies in one EA...and that reduces the number of charts you need to display.
3) Trading the 4 majors with 2 EA's sounds like they are "multi-pair" EA"s...with 2 currencies per EA? If so...the answer to #1 should solve this also...and no need to put them on separate sub-accounts or even different accounts. The Magic Numbers should keep them separate.
You can also look at Trade Copier programs that send trade signals from one "Master account" to other "slave accounts".
4) Forward testing on some small accounts - I hope this means to forward test on demo accounts first? Especially if these are your first EA's that you've made? Risky otherwise to go live even on small accounts. Also what results did you get testing your EA's in the Strategy Tester? Multi-pair EA's can have testing problems in the MT4 Strategy Tester... MT5 can better handle testing multi-pair strategies.
Hope this helps,
Robert
Hey cosmic, thanks for the reply.
I do use magic numbers so that one EA isnt changing orders of another. And I am forward testing with small amount of real money, nothing I could blow an account with. I will look into Trade Copier programs and see if that works.
Let me also try and rephrase my dilema and see if it answers some confusion.
So, I have 2 systems A and B. I want to put them on the 4 majors. To set up A, I open the four mjaor charts and place it on each of them. To set up B I open 4 more charts and apply the EA.
At this point I have 8 chart tabs open, and MT4 is trading both EAs accross all pairs. This is fine and it works, but it is just a mess. 8 tabs open takes a lot of resources on my computer, and will only get worse if I keep adding systems (which is my plan).
Additionally, at the end of the month, lets say my account is up 5%. How can I tell how each system performed individually. Did one make 6% and another lose 1%? What are the individual profit factors, win/rates, etc for each system? I need to be able to monitor this to see how each system performs compares to my back tests. Now of course I could monitor this manually, but is there a better way to organize it so that both systems arent so intertwined? What is standard practice for people who trade mulitple EAs at the same time?
Thank you.
If each system has its own magic number then the solution is quite easy. Write a script to scan through the order history and write the trades to a TXT file according to magic number. You can then analyze the results in excel.
So I guess there is no native support for this kind of thing. Oh well. Thanks for the script idea dabbler, I will look into it.
So I guess there is no native support for this kind of thing. Oh well. Thanks for the script idea dabbler, I will look into it.
Hi Saunders,
-------------
At this point I have 8 chart tabs open, and MT4 is trading both
EAs accross all pairs. This is fine and it works, but it is just a
mess.
8 tabs open takes a lot of resources on my computer, and
will only get worse if I keep adding systems (which is my plan).
-------------
That makes it a little more clear...thanks.
Without combining the multi-pairs into one EA...I don't see an immediate
solution to how many charts you need to have on your screen - one chart
for each EA.
A different strategy is to add monitors to get more
screen space. I've seen some wicked looking multi-screen setups....!
Testing EA's does take a lot of CPU resources...but running the EA's in demo or
live
takes much less CPU. I've had 4 accounts and 32 charts up and running
with no CPU problem other than the screen clutter of all the
open charts. It's the testing that makes my CPU scream...lol!
Additionally, at the end of the month, lets say my account is up 5%. How can I tell how each system performed individually. Did one make 6% and another lose 1%? What are the individual profit factors, win/rates, etc for each system? I need to be able to monitor this to see how each system performs compares to my back tests. Now of course I could monitor this manually, but is there a better way to organize it so that both systems arent so intertwined? What is standard practice for people who trade mulitple EAs at the same time?
There are various Account Statistics indicators out there that will help you analyze your account stats.
You can modify them to add the kind of stats you want for each account that you use. Or you can build them yourself (a script as dabbler suggests...or as an indicator that runs all the time).
I have attached one example that I use to get my EA stat's by Magic Number... The left side is the totals. The right side is active trades (none right now).
This is for you to see what's possible.
Hope this helps,
Robert
PS - The file name should be YourEA Profits 1.0.mq4....but this editor adds it's own weird letters.
The indicator still works. Just rename it back to the original name when you download and save it.
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I have finished coding up my first 2 EAs, and I would like to forward test them on some small accounts.
1) Currently, if I run both systems on one main account, then won't their stats all blur together(winrate/pf/drawdown)? Do I need to be manually tracking each system independently? Or is there a way for MT4 to measure each system separately?
2) The other thought is that I have Oanda as a broker, and they allow me to create sub accounts. I have looked into this but havent found anything: Is there a way for one MT4 client to trade several sub accounts with different systems? This would allow me to separate each system to its own account, keep it much cleaner.
3) My two systems trade the 4 majors. To initiate the EAs I have placed them on each chart, so I now currently have 8 charts open with the EAs running on them. Is this necessary? If I had 4 systems would I have 16 tabs open, etc? Seems like it could get messy fast.
I guess I just would like to know how to organize my trading with EAs. Thanks guys.