2/22☆ Personal preferences about a personal FX company
FX Auto Trading, the EA developerReiwa’s Double-Ehere.
Today will be a very personal topic, but
I will write about preferences for MT4 brokers.
※These are purely my personal likes and dislikes, please note.
As a general discussion, as a personal opinion
I will write without being deferential PR or anything of the sort.
First of all,
the tighter the spread, the better, after all.
And that in the morning the spread doesn’t widen much,
and trades don’t slip, something like that.
But,
whether this can be achieved depends on A-Book or B-Book, more likely
B-Book, in other words the “dealer/market maker.”
There are questions about transparency due to conflicts of interest in that system.
However,
customer orders will inevitably be “taken” somewhere at some point.
For example
an account with A-Book but housed in a foreign FX company,
where the parent company orders are being taken,
(in that case, spreads tend to be narrower even with A-Book).
Even completely A-Book, orders must be taken by LPs or the interbank to be filled.
This is the same as in stocks.
If there are no sellers, you cannot buy.
Also,
When the FX company’s CEO changes, the policy can change.
That can be reflected conspicuously in the spread.
And that can change likes/dislikes.
If the spread widens,
for example, as in Avatrade’s AMMA,
they may want to offer services similar to that.
When offering such services,
the spread tends to be wider primarily due to markup,
which is something to consider.
Also,
some FX companies will email or call you if you are trading at the edge of margin.
In particular, when you are trading on the edge of margin,
even if an EA meets entry criteria and places orders,
if there isn’t enough margin, orders may be repeated,
causing strain on the system,
and you will inevitably receive emails or calls frequently.
Other brokers never contacted me that way,
so personally I think the system is simply fragile.
Personally, considering the facts, that’s all I can think of.
When I asked about it,
they denied that as the reason though.
Well, if you use the narrow spreads wisely,
and you don’t operate with bare margin, you’ll earn more profit, but that’s fine, I suppose.
Or,
some systems have issues on the “My Page” side,
and there are FX companies that you simply do not use at all.
Next,
the pattern of “I won’t use them anymore and won’t use them in the future”
since long ago, customers who make money cause trouble
when an EA becomes too profitable, there were cases of
banning MT4 that runs that type of EA,
or big wicks that look like stop hunting causing stops at prices far from reality,
and various other unclear stories.
That’s roughly how it is!
Understand each broker’s characteristics and use them accordingly.
So with that!
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【EA Start to Intermediate flow summary】
First, it’s important to master the installation of EAs.
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MT4 EA (Expert Advisor) and Indicator installation procedure
https://www.gogojungle.co.jp/post/1/8212
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※GoGoJungle video version※
Even at first you won’t understand everything all at once, and you’ll stumble for sure.
I also stumbled many times at first, so don’t rush—you’ll be fine!
If there’s anything you don’t understand, there is a “Contact form,” so use it!
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https://www.gogojungle.co.jp/inquiry
【How to choose an EA】
Now that you think you can run an EA,
you’ll think, “I don’t know which EA can win… I don’t want to lose…”.
So Reiwa’s Double-E uses
“backtesting” to gauge roughly good/bad,
and has serialized the following articles.
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https://www.gogojungle.co.jp/finance/navi/series/1714
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【How should EA risk management be handled?!】
And no matter how excellent an EA is,
FX collapses if you neglect risk management.
So for EAs, how should risk management be done?!The following article answers that.
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■“How to calculate EA risk management”
https://www.gogojungle.co.jp/finance/navi/articles/64703
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【EA operation mindset is also important】
And, to sustain EA operations long-term, the mindset of “EA operation” is also important.
For those articles,
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12/30 Year-end and New Year SP!! EA Thorough Course Part 3
https://www.gogojungle.co.jp/finance/navi/articles/80551
8/12【Obon Holiday Special】Now you too can master EA! “Mindset for Improving EA Operation”
https://www.gogojungle.co.jp/finance/navi/articles/72829
8/17【Obon Holiday Special】Now you too can master EA! “Notes for EA operation”
https://www.gogojungle.co.jp/finance/navi/articles/73797
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That’s how it is,
it’s quite substantial and very important,
so even if you can’t understand it right away, please make sure to read it!
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【Reiwa’s Double-E EA Listing】
https://www.gogojungle.co.jp/users/112481/products
Specifically categorized EA by genre for Reiwa’s Double-E
https://www.gogojungle.co.jp/finance/navi/articles/67162
(Portfolio diversification by genre is essential)
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【Reiwa’s Double-E serialized articles】
■EA Beginner’s Guide
https://www.gogojungle.co.jp/finance/navi/series/1700
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https://www.gogojungle.co.jp/finance/navi/articles/64703
【Portfolio edition】How to calculate EA risk management
https://www.gogojungle.co.jp/finance/navi/articles/65978
Easy tips to spot deceptive products (in the EA context)
https://www.gogojungle.co.jp/finance/navi/articles/64738
Where to check first when you don’t understand something about EA
https://www.gogojungle.co.jp/finance/navi/articles/65619
■How to find winning EA from backtests
https://www.gogojungle.co.jp/finance/navi/series/1714
■No sugarcoating! GoGoJungle raises an issue!
https://www.gogojungle.co.jp/finance/navi/series/1701
https://www.gogojungle.co.jp/finance/navi/articles/64723
■Reiwa’s Double-E “Push-buying and pullback selling logic” now released!!
https://www.gogojungle.co.jp/finance/navi/articles/65010
https://www.gogojungle.co.jp/finance/navi/series/610
【Reiwa’s Double-E’s Principles】
Develop EAs with a solid approach,
gain the love of more people,
and maintain a long-term WIN-WIN relationship,
aiming to revitalize the EA market and raise literacy.
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