Forex Futures Trading

How to run a portfolio of currencies

In the first two items in this sequel, I have shown the importance of using a set of robots and explains how to choose the right robot for the mission. Now is the time to get into the technical details of operation of various robots in the operating account itself.

Having chosen their team of robots that trade in the account, and of course, opened a business account, the next step would be to apply to robots to the account and change the configuration of the robot if necessary.

This email will explain how, and will be presented in a manner Q & A with several good questions we've received in recent days since the two previous email messages:

Q: How do I place MetaTrader robots to work together in the same account?

A: First, each robot must make its own letter. Using the robot manual user know what currency pairs each specialized robot. For each of the robots, open a table for each currency pair that you want to run.

By example:

A robot must be used in USDJPY and EURJPY. Therefore the open letters for these two couples.

Robot B should be used in USDJPY and EURUSD. So opening another letter USD / JPY, and also a letter of EURUSD.

This last point is important to remember: if you have two robots that trade the EURUSD, the opening of two cards of the EURUSD and place each robot in its own letter. You can not run two robots on the same graph. So beware: if you try to drag and drop a robot to a chart window that already has a robot (see the upper right corner of the table!) the new robot will replace the other robot is already applied to the chart window.

Q: Are the robots interact with each other?

A: Generally, you can run more than one robot on the same account without problems. A robot may not alter or change another robot trades. This is possible thanks to a characteristic of MetaTrader programming language, called "magic number." This is a unique number associated with each trade that the robot opens.

From the moment the trade is opened, the robot will follow closely the trade that leads to a single number magical, and not pay any attention to other trades that do not have this number. All this happens automatically without your intervention.

However, there are rare cases (usually) low-quality robots that do not carry a magic number. But if you bought a product known as those in study 4xRobots.com web site, magic number is a standard feature.

If you have encrypted the Expert Advisory yourself or had a programmer make coding, make sure that magic number is included in the "OrderSend" code (the developer of course). For the magic number to be valid, any combination of numbers is fine, just be sure to include one. For details on coding Magic Numbers, see MetaTrader programming help.

Q: How will the new standard NFA against hedging portfolios affect robot?

A: New NFA (National Futures Association) rules prohibit U.S. brokers allows customers to open two operations in the same currency pair, but with a different direction. For example: the opening of a buy and a sell EURUSD EURUSD in the same account. So if you have an account with a U.S. regulated market Forex broker can not run two robots that trade the same currency pair, and not a robot that can run in opposite directions open position (buying and selling) simultaneously. Solution: each robot to choose for the same account, you must negotiate a different currency pair. On the other hand - brokers looking outside the U.S.. They do not have this limitation.

Q: How do I adjust the configuration of the robots?

A: First, you need to check each robot user manual for the correct settings and the execution backtests some yourself to get an idea of how the robot performs in recent history, with adjustments suggested by the manual.

The next task, after selection of robots to operate in the account and verify your general settings, is to balance your risk settings for all robots working in harmony. For example, if you have several robots working in the same currency pair, there is a danger that you will have several positions in the same pair in the same direction.

Let me give you an example. What happens if two of the robots opened a buy position in EUR / USD, each robot by its own analysis and the reasons? Each position is of size 1.0 say much, which means that borrowing is higher: 2.0 has lots open and if the two positions of profit, which will have a relatively large gain. However, if the market drops suddenly, the loss is double!

Therefore, you should consider reducing the size of the positions for all robots working in the same pair. So if for example there was a robot in the USDJPY would use a lot size of 1.0 if I had 2 USDJPY robots can reduce the lots to 0.5 in each of the robots (do not have to be cut in half, you can at least reduce some batches).

Also in general, it is prudent to use low leverage at all time. This is especially true if you run or more systems of robots in the same account, each of them has its own market exposure. Take my word for it, low leverage will keep you out of trouble!

Look for more loss of each robot, and change the parameters of risk or the lot size of the robot, so they all match each other in terms of the quantity of each robot can be lost. This and other issues of balance are a bit outside the scope of this email, but do not worry - Additional materials on this subject will be out soon.

As a general rule, if you are new to this, try to keep the lot size for all robots at least until you feel comfortable with the robots and seen for yourself how they perform.

 

About the Author

Forex Expert Advisor pioneer, Joseph Seelentag, has influenced several new Forex ‎traders including some veterans who were looking for a way to multiply their profits. If ‎you’re ready to jump-start your Forex trading efforts and make more money online go ‎to http://www.4xrobots.com and sign up for our newsletter to gain access to our free ‎training package.‎

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