10 FAQ cryptocurrency trading – The Revolution course

Hello dear traders, it’s Petko Aleksandrov from EA Forex Academy. And now I will record a video for the 10 most
frequently asked questions that I received for the Cryptocurrency
algorithmic trading course – The Revolution. The first question is: “I put the
Expert Advisors on the chart but I see sad face.” This is a question normally
coming from the newbie traders but it will be a pleasure to answer it. So, when
you drag the Expert Advisor over the chart and you see the sad face it means
that you didn’t enable the auto trading that you see on the top. The small button
that you see on the top of the Meta Trader. It needs to be green, so just
click over it, make it green and then drag the Expert Advisor again on the
chart. And when you click on OK you will see the smiley face. Meaning that the
Expert Advisor is already trading. Now, the next one is: “I cannot find the script
to download the historical data, can you please send it to me?”I have already attached these scripts to the course. They are in lecture 4. So, you
can just download it from there. It is for Meta Trader 4 and for Meta Trader 5.
So, it depends which one you prefer to use. Personally, I am still using
Meta Trader 4. Probably, if they just stopped one day providing it I will
switch to Meta Trader 5 but for the meantime it works just great for me. So,
yeah, you can download the scripts from lecture 4. The third question is: “What
time zone are the trading hours in EA Studio?” The trading hours depends really
on the historical data that you import into EA Studio. So, when you export the
historical data from your Meta Trader, from the server of your broker and you
imported in EA Studio you will see these same trading hours that you see on your
Meta Trader. Now, if you look at the resources of EA Studio you will see by
default Meta Trader demo. And this data comes from JFD broker demo server. Don’t
take this broker as recommendation. But this is just from where they take the
historical data from. And you will see the trading hours of this broker. Well,
some brokers do fit the trading hours in Meta Trader to your time zone. But some
don’t. So, it really depends on your broker and you might see some difference
from your Meta Trader time and your local time. So, it really, really depends
on the broker here. But in EA Studio it depends on what historical data you will
import. All right? “Can you recommend me a broker?” This is probably the most
frequently asked question that I receive daily, guys. And I always, say one and the same thing that I avoid to recommend brokers to my students, for many reasons.
The one is that.. and probably the biggest one is that we are not connected to any
broker. We don’t promote any brokers, guys. And I really, really avoid
recommending broker. Of course, if the student is very persistent I will say
some names of regulated broker that I have tested. But at the end of the day
it’s really your choice which broker you want to use. And I don’t want to
recommend broker. So, if you really have hard times ask me I will tell you some
names that I recently have tested. Because I’m following a couple of
brokers like, you know I’m just looking at their spreads and comparing
them and of course only the regulated brokers. And I will give you some names.
But you should make your choice, you should make your research and find the
broker that works best for you. That is easy for you in your country if you go
to live trading later on to fund account,
redraw. Make sure you have a good research before choosing a broker.
Because there are a lot of scam brokers around that I’m talking nearly in every
course about. And if you look at our forum there is a topic called “How to
recognize the scam brokers?” And in this article we have described exactly how
the scam brokers are working. So, just spend some time reading it. It is written
by one of our mentors – Svet. And he describes very detailed how they are
working. And you can see unfortunately so many people below sharing their bad
experience with the brokers, with the scam brokers that they had. So, take it easy
with the brokers, make a good research. And make sure that you choose a legit
broker, a regulated broker. But one more time, if you have hard times finding a
broker let me know I will do my best to assist you. But don’t take as
recommendation any of the names that I will tell you. The next question is: “Can I
use the Expert Advisors on Mac?” Well, Mac is not really friendly with Meta Trader.
Meta Trader is not very friendly with Mac, I don’t know which one of the two.
But I use desktop because it’s much easier, much cheaper, of course. And
it works just great with Meta Trader. If you are fan using a Mac you can. What I
know from my students is that you need to download the Mac version of Meta Trader and use it. And the other thing you can do as well is to use a virtual
machine. Which of course is again some extra costs. So, the best way you can do
is just download the Mac version of Meta Trader. It should work fine with Expert
Advisors, with custom indicators. Anyway, I receive very often issues and reports
from users that are using Mac. Not really friendly one
more time with the Meta Trader. The next question is: “How to calculate the Never
losing formula for the Ripple?” I show an example with the Ethereum in this course,
in some of my other courses I have with the Bitcoin. With the Ripple is just the same
way. It’s very small price there that we are having cheap price for the Ripple
compared to the Ethereum and the Bitcoin. But what you need to keep in mind, is to
keep the ratio 1-3. The ratio between the Take Profit and the mid zone. So actually, if I say 1-3 it will be mid zone to Take Profit. OK? The mid zone should be 1 portion and Take Profit should be 3 portions. So, just simply said
the Take Profit distance should be 3 times bigger than the mid zone distance.
So, make your research as well, look at the chart, place lines, horizontal
lines. And see for the Ripple, for the current moment what Take Profit do you
think will be best. All right? And what mid zone will be best. If you
understand the formula you will see that it’s really nothing hard. And it is
something very simple that I have came up and calculated with the cryptocurrencies. And I just did a huge research starting with the Bitcoin and
then the other cryptos. But I just look at the chart for a long time, I was
placing lines, I was calculating and came up with the numbers. Of course, the Never
losing formula is a long time ago invented, it’s not something I did invent.
What I did? I just recalculated it for the cryptocurrencies once again looking
at the chart and for the current market conditions what Take Profit distance and
what mid zone distance works the best. And this is something you need to do for
the current market conditions. Because what I do? I do update the Expert
Advisors but they are trading automatically. So, if you want to combine
them with the formula you should do a small research looking at the chart. And
just analyze it if you have this entry at this level and then the Take Profit.
Is it the Take Profit that will be reached frequently? This is the question that you
need to ask yourself every time. Don’t make unrealistic Take Profit distance.
Because obviously, it will not get hit too often. Right? We want the Take Profit
to be hit more frequently. And in the same time look for the distance of the
mid zone that will not be hit too much frequently. I hope you understand me here.
So, you need to look something in the middle which will allow you to hit the
Take Profit most frequently. And you will use the formula less. Because keep in
mind, guys, we don’t want to use the formula. We use it to protect our capital
and to exit without losses. But obviously, we want the Take Profit to get hit first.
The next question is: “If we use the Never losing formula should we monitor the
market?” Of course, when we are using the formula this is a manual system from
there. So, we use the Expert Advisors to give us the entry. So, we don’t sit in
front of the computer to wait for the entry, we use the Expert Advisors. But
once it get hit and you are into the trade and you want to combine it with
Never losing formula you need to keep an eye on it. So, you will be able to place
the pending orders. You don’t need to stay in front of it. What I do, normally? I
look every thirty, or one hour, every thirty minutes or one hour to the chart.
And if any of the pending order is hit I will place an opposite direction. But actually, there are many notifications, scripts that you can use when you have
order hit or order opened to get notified that you can use if you’re not staying
in front of the computer. I’m staying in front of the computer the whole day, so I
just monitor it. And if I’m real trading, what I mean, on live account using the
Never losing formula during the night is the thing that is a little bit harder.
You just need to watch on it every two or three hours. But that’s, that’s the
work of the trader, guys, when you are trading and if especially your trading live
you need to take it seriously. So, just don’t use the formula if you cannot
monitor it overnight or all the time. Or you just put alarm on your phone, or
on computer to remind you that you need to have a look at the chart. So, it’s up
to you how you will manage it. But if you don’t have the possibility to watch over
the market better don’t use the Never losing formula and look for algorithmic
trading. All right? The next question is: “How often to optimize the Expert Advisors?”
Well, in this Cryptocurrency algorithmic trading course I optimize the Expert
Advisors every month or two, or three. Depends, really on the market, depends on
the volatility and it really depends specially on the cryptocurrencies on
the market. Because they are changing so quickly,
their volatility is different than the Forex market. What I like to do? I optimized the Expert Advisors and not only in this course but in general when I see
that the Expert Advisor starts to lose the recent days or weeks it’s not the
performance that I want to see. It means that the market conditions changed and I
need to optimize it. Because it’s very common that I hear and read. People
saying the Expert Advisors stopped working, it’s losing. The Expert Advisor
doesn’t stop to work. It’s a code that enters into the trade with the
predefined entry and exit conditions. What happens, is the market changes. And
this is very normal. So, it’s not that the Expert Advisors stopped working, what
happens is the market change. So, we need to optimize the Expert Advisor. So, it
will work according to the recent market conditions. Now, the ninth question is: “How to add the Bitcoin to the chart?” This is when you install your Meta Trader and
you don’t see the Bitcoin on the market watch. What you need to do, is right click
over any of the assets and click show all. And you will see all the assets that
your broker provides. If you don’t see Bitcoin there this means that obviously
your broker doesn’t provide Bitcoin. And you need to look for another broker if
you want to trade the Bitcoin. “How long time it takes the Expert Advisor to open
a trade?” Again this depends really on the market. I cannot say with any of the
Expert Advisor when it will open a trade, how long time it will take. It depends
when the entry conditions will be met. So, inside the Expert Advisor we have entry
and exit conditions. When the entry conditions are met you will see the
entry and the Expert Advisor will open a trade. And sometimes it could be
immediately once you drop it over the chart, sometimes it could take a couple
of days. It really depends as well, on the time frame that you’re trading. So, if
you’re trading on M1 or M5 it will open obviously more frequently trades
that if you’re trading on H4 or a daily chart
then you will need to wait probably couple of days or even weeks.
OK, guys, these are the 10 frequently asked questions that I receive for the
Cryptocurrency algorithmic trading course. Let me know if you have any other
questions as you know I always answer within 12 hours. It’s my pleasure to
answer your questions. This way we have very quick communication and I can assist
you as much as I can. All right, guys, thank you for watching. It was pleasure
recording and I will see you in another video. Cheers

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