Now let’s move on to where we can show our creativity. Generally speaking, our creativity should be limited to the rules of risk management in the forex market, consistent with the size of our deposit (more on this later), if your goal, of course, is conscious work on profitable trading, and not gambling with “luck – no luck “
So, in the vast majority of cases, the settings can be numerical (for example, a trading lot) or in the form of “on / off.” (or “true” / “false”, respectively)
Those. if we want to include some kind of parameter, we should put “true” opposite it. If we want to disable – “false”.
Now we turn to the settings themselves, which are most often found:
Lot size – the size of the trading lot by which the adviser will open deals.
Microsoft – enable / disable the ability to trade micro-lots: 0.01.0.02.02.03, etc.
money management – “Including” this option, we give the adviser the opportunity to independently choose a trading lot.
Before enabling this option, I recommend:
- Understand the principle by which the adviser “decides” to increase/decrease the trading lot.
- Compare this principle with your risk management rules for compliance.
My personal opinion is that such a coincidence is unlikely, and it is better (and easier) to give the adviser their personal recommendations on the trading lot, so as not to worry about his “arbitrariness”.
Comment – Comment on the transactions of the trading robot. It is used for the convenience of collecting statistics – when you study the trading history of the adviser, then using this comment you can distinguish its transactions from their “manual” ones, or from the transactions of other advisers (if they also trade on this instrument).
MagicNumber – the code by which the adviser determines its position. It is necessary so that, for example, he doesn’t close your personal orders with his orders. Keep in mind that if you have several Expert Advisors trading at the same time, you cannot use the same MagicNumber for them.
With the settings, too, in principle, that’s all. There may also be other parameters, but their purpose, as a rule, is also indicated in the descriptions of the advisers.
I recommend not to bother much with additional settings, but to test the EA on “standard parameters”. If he does not show a positive result on them, then most likely he will need some specific market conditions for profitable trading.
Someone will decide that it will be necessary to “adjust the settings” and “determine the best parameters for the current market,” but in my opinion, this is a waste of time: it is not known when market conditions will change again, and for example, I would be nervous. You’re sitting on a barrel of gunpowder and wondering “Is everything all right, or is it time to change the parameters again?”
It reminds me of a situation when you choose who to hire: an employee who calmly and methodically does his job, or an impulsive guy who can give an excellent result in one month and then become deeply depressed. The choice, of course, is yours. My personal opinion is that the more universal the EA is in terms of market conditions, the better, even if in the future it brings less profit. But they tested, set and forgot – we continue to do our own business (we are testing other advisers, for example). In any case, our goal is a clear algorithm of the adviser and a gradual profit with small drawdowns.