Hello,

I purchsed an EA, and I am trading with the EA on demo accounts on three different brokers' MT4 platform at the same time. I opened my account on 7/13/07 with $50,000 and the EA started trading (10 lots each of GBPUSD) on the same day. As of 7/23/07, my account grew to $79,000+ (almost 60% in 10 days!!!). Same results on the other accounts.

I am investigating brokers for live trading, but I could not find any consistantly good ratings on any of the MT4 brokers.

My questions are:
- If I start trading live, should I expect the same results as demo?
- What could be the issues with live trading vs. demo?
- What do I need to know (if anything) about live trading with any EA?
- Any reliable brokers I should consider with MT4 platform? (safe money, low spreads, withdrawals, quick fills, no re-quoting, etc. even after my account grows).

Thanks.

Try FXDD (FXDD - Online Foreign Exchange Currency Trading, Forex).

I have multiple live accounts and they are better than any broker I have ever been with. Low spreads, TRUE interbank prices, fully automated throughput, large fast servers and I find the Live accounts behave as good as the Demo (close as possible anyway).

On a side note, be careful with what you percieve to be good % return. Your money management of 10 full lots for a demo 50K account is too heavy. Scale it back to 1 lot per every 10K at most and this will reflect reality whilst also protecting you from large drawdowns. Always bare in mind RISK first, profit later and don't get blinded by the big $$ signs.

Hope this helps

Regards

Archer

Thanks, Archer.

10 lots = $10,000 out of $50,000 (20%). So I thought I was being safe for drawdowns. Correct? If I open an account with $1,000, and buy .2 lots ($200), would it give me enough margin for any drawdowns?

One more point, as my account grows and if I still buy fixed lot size, I would have more margin for large drawdowns. Correct? e.g. Account balance now is $79,000 and I am still buying 10 lots.

I am still learning, so would appreciate any feedback.

Thanks.

CAn you tell me which EA you bought?good luck in your trade.

You should listen to Archer,and avoid using more than 1 lot per 10k usd in account,if you use more than that you are in for nasty surprises..Take into account that ,for GBPUSD 1Lot(100k GBP) is ,as of now,202730 USD..So you are using 20.2 to 1 leverage,which is very high but workable..I would suggest that you use no more than 1 lot of anything GBP denominated for every 20k USD in account,1 Lot for anything USD denominated for every 10k USD in account,1 lot for EURXXX for every 13/15k USD in account..and so on

__________________
Equo ne credite,Teucri.

You are protected. But -500 pips will kill your account. Every 100 pips is 20% of your account and GBP/USD moved 300 pips last time.
I trade 2,5% per trade or 5% per trade. You trade 20%.
I'd make it 5% if I were you. I don't feel comfortable losing half of my deposit because of my own greed.

__________________
MQL4 programming is easy ^^

You guys are right. When GBP dropped last week, my demo account got killed.

how much did EA cost you?