FAQ: A practical way to better use your EA – My Trading – November 22, 2022

Greetings, These are the common questions people frequently ask about how to use a Forex EA (Expert Advisor) which I found on The Apprentice and replied that I am trying to gather knowledge from many places.
As usual not financial advice. Trade with your own risk.
I hope the article will help you to trade better with EA.

· Should you use a VPS (Virtual Private Server)?

a Yes, of course VPS is a must. Try to use the best VPS you can afford. Here is a good article on how to set it up https://forexboat.com/vpssetup/ . If you are not familiar with these things, perhaps hire an expert to help.

· Should the VPS be restarted and updated often. ?

a Yes you You should do this every week if there is no open order in your port. Do not restart and update for a long time sometime the software will force you to do it while trading which is not recommended.

· Sometime I feel trading is slow and I have a lot of wasted time What should I do.

a Optimizing MT4 is a good way that can improve your MT4 speed. I found some articles that might be useful to you guys. https://www.forexvps.net/kb/mt4-optimization

· What type of account should I use. ?

a The high speed and low commission account of any reliable broker should be fine. You should always ask the broker to spin Hedging, martingale or Grid or not, if not, you should think carefully. Here is some information that may help you http://www.forex-central.net/broker-comparison.php

· How do you manage your balance each month?

a Every month, if you get a profit, you have to withdraw half of it and use it for other purposes. This technique is called rebalancing. It can help reduce your risk, too.

· How often should you optimize and back test?

a At least I will do the optimization and back-testing for EA Every two to three months, if you’re doing it, do it every other month. I will also improve every one to three months, and then I will also tell you the value.

· Why have I seen EA perform well in Backtest or other type of test but when I use it. The result is not the same.

a There are many factors involved in forex trading such as the speed of your VPS, how you set up the EA, how you set up your MT4 and many other factors which include you must have some technical knowledge on how to use the EA too, it is not all done for you. As you can see, there are many factors that influence trade. If you are feeling unsure how to use the EA, you are shown try it with a small account as the EA recommends first before going for big money.

· How much should I expect from trading with the EA?

a Expecting around 10-30% APY (Annual Percentage Yield) is reasonable. High return comes with high risk.