Quote:
Originally Posted by lennyt3
I have never done a backtest before, all I have pretty much done is ran the FAP in the eurusd with a m1 and the profit stop at 20 and so I made pretty much 20 dollars a trade .is this what I am supposed to do? someone else said I would lose my money if I just let the autopilot just ride and do it's thing which I hope isn't the case because I don't have time to, or the know-how to manually trade. As a matter of fact because the video doesnt match the audio on the forexdd training videos I'm getting very confused fast! I thought this thing was supposed to run it's self. that's why I bought it. Can you clue me in on how to do this or send me in the right direction to learn? thanks Len.
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If you are making $20 a trade then I would suggest your risk is set too high for your balance. In my opinion on that risk level you will blow your account quicker than you can make money. Until you understand the consequences of drawdowns on your account and how to deal with them, I would lower your risk down to one or two at the most. It may seem at first as if you are losing out on good trades, but when one goes bad, you will have a chance of surviving.
If you are trading 0.1 lots on that balance, it would not take long for one bad trade to blow it all for you. It sounds like you need to find a micro account provider and open account there to learn what can (and will) go wrong while you are making money. The
FAP pages are very good at telling you how to make money, but not very good at telling you how not to lose it.
To find account providers search through this forum, and you will find the good and bad for your EA. If in doubt, ask someone who is already trading with the ones you are considering, I am sure you will get a very open answer on the pros and cons.