So I have been forward testing an EA for about 1 Month...

Hey Guys,

So I have been forward testing an EA for about one month now (well more like a few weeks). And it has shown really impressive results. I was wondering, what should I expect to be different once I run this on a live account? I mean, if it has traded well on a demo (doubled my money in 2 and a half weeks), what will happen once it goes live, or at least, what should I consider? I know, usually if you do manual trading on a demo and try the same system on live...as long as it is not news trading etc....it usually has similar results, but I still have a icky feeling of letting a robot do the trading, and I still have an impression that most brokers dont want you to win. I guess I would also have a follow up question of which broker would be best to run it at. Obviously it has to be a MT4 broker, but I know GFT can also run EA's now (through a 3rd party program). So, I am up for any broker, especially if someone here knows the API of that broker and can "translate" the code...but that is getting to far ahead of myself. But yea, just looking for basic advice on the questions I just asked.

Thanks,

-Nip

If I were you, I would trade it live on the same brokerage that you demo'd it on.

I would also start small - use the least amount of money you can and still have good results. If it continues to perform well over a few months, then increase your equity.

BTW, what EA is this?

FXPro Maker EURGBP Scalp Settings, even though it has worked on several other pairs (trying to test curve fitting) with the same settings. Unfortunately it is martingale...so starting with small lots is a given as lots do increase in the future. I figured I was gonna start with the smallest account I can with this EA, and just withdraw my original balance (if and when) the account doubles, and if the EA performs as it has been performing, then I probably wouldnt have to deposit anymore of my own money period. lol

NipthePips,

You may experience some interference, but the main thing to note is how sensitive the success of the EA is to a moving market (slippage, stops, and so on). From what I remember of the EURGBP King it does work live, I think there were questions on removing the Martingale but I don't know if this was addressed.
With a scalper you may want a faster connection than a 3rd party connection through GFT. FXDD seems to give fair live results. The EA must also be able to react to transaction errors the same way you would. A gap down in price, and you would have to decide if the EA will still place a sell.

Most (re: all) Martingale EA's run into the eventual bust. The best reccomendation I could make on that is use small lots and low leverage.

I disagree with the low leverage argument. Leverage with forex brokers is slightly different with traditional explanations and definitions of leverage.

If I were to buy 1 lot at a 100:1 leverage broker and 1 lot at a 500:1 leverage broker, my account balance will still change $10/pip. The difference between the two brokers is the amount of money I would have to put up to open the trade. With a 100:1 leverage broker, I have to put up $100. With a 500:1 leverage broker, I only have to put up $20.

Ronald,

You have a valid point, thank you. I suppose in that scenario it could lead to overleveraging because of the apparent low cost. However that could lead to additional lots per pip, and a more precarious position.

That scenario you describe is usually a result of bad MM. Instead of calculating risk as a percentage of an account, try calculating risk in losses to broke--How many consecutive losses can I sustain before I go broke?

In the above scenario regarding the 100:1 leverage vs. the 500:1 leverage, trade as if you had a 100:1 leverage account. Just know that you have a reserve should you need to use it.