August 25, 2023 at 9:09 #193202Chris BarryParticipant
Three days ago I installed the 7 FTMO EA’s and didn’t change the settings and the lot size has stayed the same which is 1. I have been losing (-700.00) with 0ne or two wins. I also had a -1,117 hit to my account because the EA opened GBPCAD and didn’t leave a stop lose so this trade is red. My question is: Should I stop using the EA’s, Should I make some changes, or Should I increase the lots size from 1 to ?. This is a prop account and I was positive before the EA’s, so I have some room to turn things around. Thanks for the help,
August 25, 2023 at 9:29 #193454
Glad to hear from you.
1. I updated the FTMO Robot with 7 versions, but this does not mean you have to trade all of them in 1 account but select which one you want to use. For example, you can put them all in one trial and follow the results. Check which ones bring the most profits and use it on your Challange or Funded account.
For example, here are all my recent trades where I am testing the 7 EAs (arranged by comments/magic numbers)
2. Then, what I would do is connect the account with FXBlue and see which EAs are most profitable:
In this case, I have 4 that bring profits in current market conditions. So I can pick 1 or 2 that I would trade on my challenge or FTMO-funded account.
At the moment the FTMO Robot for EURNZD is the top performer.
And I always combine with the scaling-up system I show in the FTMO Course.
3. All the EAs have SL, check the first screenshot.
But that is what I would do. It doesn’t mean you have to do it the same way. 🙂
August 31, 2023 at 22:24 #195152JanekParticipant
Is the EURNZD still the best performer?
September 2, 2023 at 8:05 #195460
In the last few days of the week, it was the EURAUD. I recorded a video showing exactly how I manage it:
September 3, 2023 at 13:51 #195685JanekParticipant
Thank you for creating the video and answering here 🙂
September 16, 2023 at 11:05 #198885
I appreciate it! I am going to add this video to the course since it turned out to be valuable indeed!
October 2, 2023 at 22:09 #202784Craig CraigParticipant
These 7 bots have different Risk to Reward Ratios. Is that correct? The default EA’s when loaded?
AUDNZD 1 to 0.5
EURAUD 1 to 0.56
EURCAD 1 to 0.41
EURNZD 1 to 1.5
GBPAUD 1 to 1.85
GBPCAD 1 to 0.83
NZDJPY 1 to 0.44
Or do I need to change the RR to a 1 to 2 or 1 to 3?
October 2, 2023 at 22:26 #202788Craig CraigParticipant
Sorry to add, I’d these RR’s are correct I would need to modify my Lot sizes so that the max lot size is 1%?
October 3, 2023 at 11:30 #202856
I think what you are wanting to do is to limit the risk of account loss to 1%. This is done by a calculation based upon the account size, risk in percent, and the Stop Loss. All the EAs have their individual SL set to the required number of pips to equal an account loss of 1% so you do not need to change anything. All you need to do is set the lot size based upon your account size as follows:
200K Account: Amount for new position = 6.0 / Maximum position amount = 6.0
100K Account: Amount for new position = 3.0 / Maximum position amount = 3.0
50K Account: Amount for new position = 1.5 / Maximum position amount = 1.5
25K Account: Amount for new position = 0.75 / Maximum position amount = 0.75
10K Account: Amount for new position = 0.30 / Maximum position amount = 0.30
November 19, 2023 at 22:18 #214483Leonardo Guia GonzálezParticipant
HELLO EVERYONE. IM JUST WONDERING IF IS GOOD OR NOT TO RUN THE 8 ROBOTS AT SAME TIME TO START A 10K CHALLENGE. IM SCARED THAT MORE THAN ONE LOSE AND ACHIEVE THE DAILY DRAWDOWN. MAYBE THE EXPERIENCE OF SOMEONE ELSE CAN HELP ME
November 20, 2023 at 8:26 #214580Torbjorn BrendenParticipant
I have tested running 7 robots (except gold) on a demo account for 2 weeks with losing results.
However if I selected the 3 best pairs it give positive returns.
I recommend to run them on demo first and test for yourself.
November 20, 2023 at 10:29 #214598Leonardo Guia GonzálezParticipant
Thank you I appreciate it. What are the 3 best pairs? And the ones to avoid ?
November 20, 2023 at 11:41 #214616Nicholas GroblerParticipant
Run all 8 for two weeks. Then pick the top three most profitable. That is the process basically. Petko mentioned he now runs them on a three day period then picks the best ones. I do not see this working simply because the EA’s do not open a lot of trades. Either way. Activate all eight on your TEST account, NOT live account. Then pick the top ones for Live account.
November 21, 2023 at 0:48 #214781Malik MehboobParticipant
Ok and once you select three pair what is the surety they will work next week? So its mean we have to keep running 8 pairs forever on demo and keep switching according to the market situation. Thats my opinion. Appreciate if someone can correct me
November 22, 2023 at 15:12 #215177Ilan VardyModerator
There is no guarantee that if an EA is profitable today, it will be profitable tomorrow. It is determined entirely by the market. As Nicholas has said, and you mentioned too, you should keep all 8 on a demo account, link your demo account to a website like MyFXBook (Check out this video: https://youtu.be/H19yWrotTVg), and monitor the performance, even daily, putting only currently profitable EAs onto your challenge account.
November 22, 2023 at 17:46 #215212Lucas0112Participant
I have some question before I turn on Algo Trading with the EA’s. Hopefully you can answer them.
1) First question is: what are the top 3 best performing pairs right know. I installed the EA’s on a demo, but since Monday so I don’t have enough results, but I would like to start with my 100K Funding Pips account (challenge).
2) If I trade the best 3 performing pairs, is it necessary to decrease the risk, or are the normal setfiles enough for the top 3? So let’s say the top 3 are: Gold (o,49 lots), EUR/USD (3,87 lots) and USD/CHF (1,78 lots). Can I just rely on these setfiles given lot sizes, or do I have to decrease them since I’m using 3 of them?
3) When there is news, especially red USD folder news, do I always have to close all positions? And when im not at home, it’s difficult to turn off Algo trading. Does the EA’s have a setting it won’t place any trades in the radius of like 30 minutes around news, or is the Algo trading turn off a must?
Thanks in advance!
November 23, 2023 at 0:43 #215291Marin StoyanovKeymaster
Hello Lucas, straight to your questions.
1) You have to test the 7 EAs+Gold EAs and see which one performs best currently, we can’t say which is the top performer because tomorrow it may not be.
2) If you use the default set files then it’s okay to trade with 3 EAs. The set files will allow a maximum daily drawdown of 1% per robot. If you want to be on the safe side, you can additioanly decrease the lots. For example if you want to have no more that 1% daily drawdown then you would need to divide every lot by 3 becuase you have 3 EAs running.
3) It is a personal choice if one will close trades manually. But personally we do not close trades during news. We are working on implementing the news into the EA.
Marin @ Customer Support team
November 23, 2023 at 17:30 #215485Tanyeem gaziParticipant
do i have to change the top performers every week or every monday? and i think their should even more detailed video of this robot, a lot of key pieces are missing
November 24, 2023 at 22:31 #215832Lucas0112Participant
I am running the EA’s on a demoaccount, and now it’s Friday. So im wondering do we have to close the trade(s) before the weekend, or if the EA have an open trade, let it stand over the weekend, and wait for it to close itself the next week?
Thanks in advance
November 25, 2023 at 10:01 #215902Anthony HallParticipant
I’ve just left mine open, did the same last week.
November 25, 2023 at 11:23 #215910Dylan MuellerParticipant
Hey guys i am after a few opinions here, particularly from anyone has been algo trading for some time, do you believe it is better to move the stop loss? so far i have been waiting for clear structure on the 1 hr timeframe and moving my stoploss a few pips above or below the structure and I have been profitable 2 weeks in a row with v5 robot and my win loss is better then backtested results however i am concerned that i am basically running a different strategy to the backtest. How have you guys been managing your stops and or early closes?
November 26, 2023 at 12:02 #216133
Closing EA’s on Friday is a personal choice. What I do is as follows: If my EA’s are in profit and heading upward towards TP, I will leave them open over the weekend. However, if my EA’s are in losing positions and heading downward towards SL I will close the positions and let them start new trades the following week.
November 26, 2023 at 15:37 #216171
EA’s created by EA Studio, FSBpro, or ExpressGenerator, place the SL and TP at particular price levels because in their backtesting these are the price levels where the EA generate the most profit over the backtesting time frame. It is therefore my opinion that SL and or TP should not be moved.
November 26, 2023 at 16:47 #216190LuceParticipant
if you choose for example just 1 pair to trade on the FTMO account, do reccomend to increase the lot size or leave it like in the set files, so a losing trade would make -1% of the account?
November 26, 2023 at 23:02 #216265
You could increase the lot size to 2%. I my opinion, 3% or more would incur too much risk!
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