What are some key considerations to keep in mind when running an EA on a trading platform, such as backtesting, optimization, risk management, and monitoring performance in real-time?
What are some key considerations to keep in mind when running an EA on a trading platform, such as backtesting, optimization, risk management, and monitoring performance in real-time?
If you're running an EA on your trading platform, there are a few things you gotta keep in mind. First up, backtesting is your BFF - it'll help you figure out if your EA is actually gonna make you any money. Then, you'll wanna do some optimization to find the sweet spot between profit and risk. Finally, don't forget about risk management, unless you wanna kiss your profits goodbye! #EATrading #ForexTrading #RiskManagement
Several things came to my mind that I like to share:
1. strategy: make sure you understand the strategy behind the EA. It will help you to make informed decisions about when to use the EA and when not.
2. Risk management: you should set appropriate risk management parameters for the EA.
3. Reputation: do your research and choose an EA from reputable developer. avoid scams.
