Free EA discussion

[marloc]

Hi,

Im new at the forex trading. So im still learning, but my intrest in Ai en thus EA is high. It seems to me that a free EA should be as good as one that sells foor 400 dollars. So my question to you all is. which free EA do u use?

For exsample I am looking at the vForce like EA 1.1 Im having some nice results if I backtest it with one month ago but i know to little how to implement it yet.

Signed,
Marloc

[rsmereka]

Originally Posted by marloc

Hi,

Im new at the forex trading. So im still learning, but my intrest in Ai en thus EA is high. It seems to me that a free EA should be as good as one that sells foor 400 dollars. So my question to you all is. which free EA do u use?

For exsample I am looking at the vForce like EA 1.1 Im having some nice results if I backtest it with one month ago but i know to little how to implement it yet.

Signed,
Marloc

Hi Marloc and Welcome,

I have been forward testing VForce Like EA V2 for almost a month now and it is doing well. Not great but well. It also seems to be able to stay out of the market which is a skill that most EA's do not have.

Most of the people here (including me) are big fans of forward testing. It takes much longer but the results, while not perfect, are much more reliable.

In terms of implementing the EA. Locate a post on the board where you got VForce 1.1 that discusses settings and maybe (hopefully) includes a 'set' file which will setup the EA for you. There are many people on the board running the EA in different ways. You need to decide which way you are going to run the EA.

Here is my example:
I got the EA here and I decided to use the H1 settings described in post 15 of the same thread.

Good Luck,
Rick
P.S. If you need an explanation of how to apply a `set` file, just ask here.

[marloc]

Thank you very much,

I will sertainly taak a look at the tread you mentioned. But for now I have a meeting the next four hours

will post again tonight what I think of it.

High regards,
Marloc

[marloc]

Rick,

Thanks for the welcome, im sure I will feel at home here

Yes, thats the same post I was reading, but its quite long and I am getting lost in all the questions others have and all the different setting files.

Also i get the error 130 quite a lot when im back testing 2009. Its mentioned a lot in that tread but i dont understand who is explaining a sollution and what that sollution might be. Do you also have that problem or am I just using the wrong metatraders?

[rsmereka]

Originally Posted by marloc

Rick,

Thanks for the welcome, im sure I will feel at home here

Yes, thats the same post I was reading, but its quite long and I am getting lost in all the questions others have and all the different setting files.

Also i get the error 130 quite a lot when im back testing 2009. Its mentioned a lot in that tread but i dont understand who is explaining a sollution and what that sollution might be. Do you also have that problem or am I just using the wrong metatraders?

Marloc,

You can either read everything and choose your own favorite currency pair , chart period and settings or you can go with something that someone has already tested and possibly provided a 'set' file.

I decided to do both and I read the entire thread and downloaded the EA and 'set' file from post #15. I have been testing this EA, currency pair , chart period and 'set' file for almost a month now on an Alpari UK demo account. The EA's performance with these settings is not thrilling but quite acceptable. It's a little early to quote month performance figures but right now, the EA is up 11.78% since May 14th.

MQL4 error 130 is usually flagged when an order is placed with a lot size too small based on the minimum allowable lot size by the broker . Remember that this EA places two orders for every trade. One order is 80% of the total lot size and the other is 20% of the total lot size. The order at 20% can generate a 130 error if the lot is too small. For example: I currently have 'lots' in the EA set to 0.18. When a trade is triggered, the EA will place two orders, one at 0.14 (80%) and one at 0.04. If the broker does not allow orders at 0.04 and refuses the order, this will generate a 130 error. Some brokers will silently ignore the error and execute the order at the minimum lot size (Alpari UK does this on their 'classic' account which requires a minimum of one mini lot (0.10).

[marloc]

Originally Posted by rsmereka

Marloc,

You can either read everything and choose your own favorite currency pair , chart period and settings or you can go with something that someone has already tested and possibly provided a 'set' file.

I decided to do both and I read the entire thread and downloaded the EA and 'set' file from post #15. I have been testing this EA, currency pair , chart period and 'set' file for almost a month now on an Alpari UK demo account. The EA's performance with these settings is not thrilling but quite acceptable. It's a little early to quote month performance figures but right now, the EA is up 11.78% since May 14th.

The more i read, the more I understand. but your answer cleared up a lot for me. The last part of that thread was less then friendly to newcomers like me.

Originally Posted by rsmereka

MQL4 error 130 is usually flagged when an order is placed with a lot size too small based on the minimum allowable lot size by the broker . Remember that this EA places two orders for every trade. One order is 80% of the total lot size and the other is 20% of the total lot size. The order at 20% can generate a 130 error if the lot is too small. For example: I currently have 'lots' in the EA set to 0.18. When a trade is triggered, the EA will place two orders, one at 0.14 (80%) and one at 0.04. If the broker does not allow orders at 0.04 and refuses the order, this will generate a 130 error. Some brokers will silently ignore the error and execute the order at the minimum lot size (Alpari UK does this on their 'classic' account which requires a minimum of one mini lot (0.10).

This was indeed one of the things i did not understand but now is clear to me. Does thi mean that if its standard lot aloud in meta4 trader its aloud by that trader? for instans if i say 80% is .04 then 20% is .01 both are standerd and thus ok?

If this is correct i need to fill it like this?
............Lots .4 .4 .1 .9
lotspercent1 80 80 0 0
lotspercent2 20 20 0 0

Signed,
Marloc

[rsmereka]

Originally Posted by marloc

The more i read, the more I understand. but your answer cleared up a lot for me. The last part of that thread was less then friendly to newcomers like me.



This was indeed one of the things i did not understand but now is clear to me. Does thi mean that if its standard lot aloud in meta4 trader its aloud by that trader? for instans if i say 80% is .04 then 20% is .01 both are standerd and thus ok?

If this is correct i need to fill it like this?
............Lots .4 .4 .1 .9
lotspercent1 80 80 0 0
lotspercent2 20 20 0 0

Signed,
Marloc

Marloc,

It is not Metatrader who is imposing the lot size limitations but your broker .

Just because you have a standard lot account with your broker does not mean that 0.01 standard lot will be allowed. It depends on the broker . As an example, my standard lot account with Alpari UK has this darn restriction that at least 0.10 (one mini) must be placed for each order. A lot of 0.11 is allowed (one mini and one micro), but not 0.09. So I need to be careful with the Vforce EA when I run it live. I don't think Alpari UK will flag the 130 error. I think it will sliently promote the order to at least 0.10 lot. I could play with the lotpercent1 and lotpercent2 but I don't want to defeat the logic of the EA.

Rick