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Frequently Asked Questions (FAQ)
Frequently Asked Questions (FAQ)
"What brokers can I work with? Can it be «<insert your broker name here>»?"
The decision of which broker to trade with is one that has many factors to consider. Please refer to the “Brokers” section of this guide, where you will find extensive information about brokers, how to choose one, and my personal recommendations based on my own and my client’s experience.
"What type of account should I use - Standard, Raw Spread?"
I recommend using ECN accounts with the lowest spread. If you use IC Markets, that’s a Raw Spread account. If you use Pepperstone, that’s a Razor account. This type of account can be named differently, but the overall execution is usually the best on the account with the lowest spread and with commissions, as opposed to accounts that include everything in the spread.
"What is the difference between the MQL5 and licenses?"
You get the EA to work on 10 different accounts with the purchase (these accounts can be switched on the website if you need it) and 10 different PC/VPS (with no account limitation) in case of the MQL Market purchase. You get both MT4 and MT5 on the website, but you need to choose only one with the MQL Market purchase. Depending on your mode of use, one or the other may fit you better.
"Should I use the AI filter with Perceptrader AI or not?"
By default, the Perceptrader AI EA uses the neural net filter that’s set by the ‘Enable Neural Network Filter’ parameter. It was trained on hundreds of years’ worth of market data and makes results significantly better. I do not recommend turning it off. There is also a filter based on ChatGPT/Bard that allows the EA to perform additional market context analysis. While it can’t be tested yet, in most cases, it makes sense to turn it on for the EA to navigate safely during strong trending market scenarios. However, it sometimes makes trading less frequent. If you prioritize more frequent trading, you can turn it off.
"How many of your EAs can I run on ValeryVPS?"
All of my EAs are optimized for performance. This means that code is efficient and does not usually load CPU. So, it mostly depends on how many MetaTrader terminals can a VPS run. ValeryVPS can support up to 5-6 terminals at once, each with different EAs. That means you can run more than a dozen of my EAs on 5-6 different terminals.
"My broker leverage is limited to 1:30. Would it be beneficial to choose another broker with higher leverage for the longer term?"
If you plan on using higher than low risk settings with the Perceptrader AI EA, I recommend having a higher than 1:30 leverage. With a 1:30 leverage, you can only use low risks. Otherwise, you may run out of margin one day. After all, that's the reason for leverage restrictions - to make sure you can't use high risks in trading. However, if you are satisfied with using low risks, you can use them with such leverage.
"Is Perceptrader AI the best of your EAs for prop firms, or do you suggest buying another of your products?"
It depends on the exact conditions of the prop firm you mean. Some prop firms have specific requirements, like the prohibition of grid trading, mandatory closure of all trades before weekends, very small leverage (like 1:10), and so on. Such conditions may or may not make PAI a preferred solution for the prop firm. If you can tell me what their conditions are in detail, I can give you a specific answer.
"I tried downloading the latest EA version, but I still get an old one from the website. How can I solve it?"
Sometimes, a web browser caches the old file, and you get it when trying to download the new one. To solve this, please clear the cache of your browser or use the Incognito mode to download the new version.
"I would like to buy the EA from you. How many accounts can I use it on?"
You get the EA to work on 10 different accounts with the purchase (these accounts can be switched on the website if you need it) and 10 different PC/VPS (with no account limitation) in case of the MQL Market purchase. You get both MT 4 and MT 5 on the website, but you need to choose one with the MQL Market purchase.
"What should I do to make the EA FIFO-compatible?"
The current version of the FIFO rule forbids two things: having orders of the same lot size and having orders in opposite directions. That's a bit simplified, but that's how it is. To have all orders of different lot sizes, you need to set the '2nd Trader Multiplier' to something which will give you the lot size of the second trade that is not the same as the first one. The value you need depends on the risks you use and your deposit size. If you use small risks on a small deposit, you may need 1.5 or even 2 to change from 0.01 lot to 0.02. If you have a big deposit size, even 1.1 will be enough to change, let's say, 0.1 to 0.11. To avoid orders in the opposite direction, you need to set the 'Allow Hedging' setting to false. This way, you won't have FIFO violations.