Building Automated Trading Strategies October 2018 | Page 40

4. EAs perform better on ECN/STP accounts
As explained before, ECN/STP accounts provide the best environment
for automated trading.
5. Start with a Demo Account
You can test any EA on a demo account and then a micro-lot account
before using it with a standard-lot account. That may save you a lot of
money.
6. Don’t Confuse Manual and Automated Trading
Use a dedicated account to trade with an Expert Advisor. Do not trade
manually on the same account, because altering the available balance
may confuse the money management algorithms of your EA. Moreover,
do not use more than one EA in the same account.
The Importance of the Right Settings
Given that you have chosen the right system, another important issue is to
enter the right settings into the system. An automated system must adapt to
current market conditions (APPENDIX-2). That is especially important in the
case of a fully automated system such as a Forex Robot. Read the manual
very carefully and then make the necessary adjustments.
Comparing Commercial MetaTrader-4 Expert Advisors
Table-2: Popular Expert Advisors for MT4 and MT5
FOREX ROBOT
STYLE
■ Scalping:
EUR/USD,
□ WALLSTREET GBP/USD,
ROBOT USD/JPY,
USD/CHF,
AUD/USD
COST
■ 299 USD for
one time
■ 3 Licenses
■ Free the
INFO
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► Review System
Omega Indicator
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