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Hey Alan,
I’ve not been affected by this rule but one way round it might be the following:
Let’s say you want to create a portfolio of 15 EAs on three different pairs. 5 on EURUSD, 5 on EURJPY and 5 on USDJPY.
You set each of the 5 EAs to trade a slightly different lot size (0.01 – 0.05) choosing what EA gets what lot size based on ranking suck as largest stop loss size, or largest nett profit for example.
That way you could all of these on the same account and they would trade together without affecting each other, and you have 0.15 lots assigned to each of the three symbols for balanced.
Like I say, I am not affected so never thought about it until now, but that’s what I would do if I was. Unless I am misunderstanding.
Also for incubation accounts would be easy enough to set different EAs with different lot sizes and then just organize at the FXBlue point and just use the profit factor to pick winners as that will be unaffected by lot size.
Ah, that makes sense now Alan. FIFO doesn’t apply if you are trading with FTMO even if you are based in US. Got there in the end 🙂
Have you tried one of their trials yet? Practicing is definitely the best way to get better at them.
I personally use the 10k swing account which has 1:30 leverage and allows news trading btw
Hi Samuel,
Hurray!!! So, a course on how to pass the FTMO challenge, as mentioned by Petko, should be of interest to traders in the U.S. as it would allow these traders to use EA Studio Portfolio’s.
Hi Samuel,
Yes I am doing the free FTMO Challenge. Notice at the peak of the chart above $500. At this point I had passed all the challenges. All trading before the peak was done by manual trading. Once I passed all the challenges I then switched to a Portfolio of EA Studio strategies. Actually it was a Portfolio of 3 EA’s of EURUSD strategies, 3 EA’s of GBPUSD strategies, and 3 EA’s of USDJPY strategies. All 3 portfolio’s were 15 minute time frames. So after the peak in the chart all trading was done with these 3 Portfolio’s. The challenge ends on October 2nd. I will show the complete results at the end of the challenge.
Hey Alan,
Yes, I am ver interested in recording such a course, and already invited Samuel to join a YouTube video where he will share more of his experience.
We will see how that goes and we might put a course together.
Hi Samuel,
Here is the results of my first free FTMO Challenge. Notice the peak price on the chart at about $500. At this point I had passed all the challenges. All trading before the peak was done by manual trading. Once I passed all the challenges I then switched to a Portfolio of EA Studio strategies. Actually it was a Portfolio of 3 EA’s of EURUSD strategies, 3 EA’s of GBPUSD strategies, and 3 EA’s of USDJPY strategies. All 3 portfolio’s were 15 minute time frames. So after the peak in the chart all trading was done with these 3 Portfolio’s. Notice that as soon as I switched to auto trading there was a large drawdown that caused the portfolio to fail the FTMO challenge as the drawdown exceeded the rules of the challenge. Further notice that after this big drawdown the auto trading strategies started to trend upwards. If the big drawdown had not happened I most likely would have passed the FTMO Challenge, unfortunately, the 15 day time frame came to an end.
Hi Alan,
This is a great result. I’d advise signing straight up to your next one and keep doing what you are doing.
From the looks of the chart you have stayed within the drawdown limits though right? 500 per day and 1000 overall.
This indicates that you have set your risk to be appropriate which is excellent.
And you have finished the challenge period in profit. The result of this for the paid challenge is that you get another go for free 🙂
This should be indicated by result : repeat in the client area.
Keep doing them, if you can repeat (OR pass) three in a row then its a pretty good indication that you have a chance of getting through the real thing.
Good work
I couldn’t wait until the end of the FTMO challenge to show the results so far for my second free challenge. The chart shows the volatility of the market over this first week of the challenge as a result of the U.S. economic data that came out. During the first week I used a strategy containing  a EURUSD portfolio made up of 3 EA’s, a USDJPY portfolio made up of 3 EA’s, and a EURJPY portfolio made up of 3 EA’s.  This weekend I created new strategies to be used during the second week of this challenge including a EURUSD portfolio made up of 3 EA’s, a USDJPY portfolio made up of 3 EA’s, and a EURJPY portfolio made up of 3 EA’s. So now I have to sit and wait to see how the second week goes.
Yes!!! I’m actually looking for a course on this as well.
I’ve been using True Forex Funds. They only have an 8% profit target, and no minimum days traded.
The issue with them is there is no demo.
I have a 200k challenge and have completed 2 free retries in a row.
I have passed a challenge multiple times on FTMO’s demo using the same method.
I’m just waiting for the market to hit the right conditions and I should pass the real one soon 🙂
I’ve posted my results so far below.
I’m using only JPY currencies.
10 USDJPY
10 GBPJPY
10 AUDJPY
10 CADJPY
Great Equity curve so far Alan.
Nice count of trades also, it is certainly a good feeling getting that first pass (or even just a retry with good curve and solid profit) on the challenge. Certainly looks like you are heading in the right direction. Well managed risk from last time and this time curve going up nicely. Your risk definitely looks about right which is the main thing. A few more challenges will give you a really good feel for how you need to adjust things in that department.
Hey Matthew, that is REALLY good going to get two free repeats. Absolutely right just keep doing what you are doing an let the market choose when you will pass 😉
MUCH easier to pass the validation and then keep the account that get through the initial challenge. I admire the boldness of going straight for the 200k account also.
Although for the less confident/more conservative I would definitely recommend passing a smaller challenge first haha, we all have to choose our own risk tolerance of course though!
Presumably you are sticking with only JPY for their safe haven status Matthew? Keep us updated, it would be great to see you pass this challenge, looks like you have a good shot if you don’t rush and keep doing what you are doing!
Also I agree with your choice of MFF, I also have an account with them. FTMO is better for getting started as there is no free trail account with MFF. But the targets are a little easier to pass and also the fees are lower with MFF so its definitely worth consideration. Of course FTMO has been around much longer but MFF certainly becoming very well established (started July 2020 vs FTMO 2014)
Hey Samual,
Inspired by you, I took the trial of FTMO and passed it in 3 days:
Here are some of the stats:
I am new to this, but it was interesting to try it. I used bigger lots and a smaller number of trades.
And I know it is three days and they want 5, but I guess one can open a few trades with 0.01 just to maintain activity? 🙂
Hey Petko,
Great results but they will definitely pick up on the inconsistency in trade size in a real challenge account and not accept it.
Variance is fine but a clear large lot size combined with small number of trades and then considerable reduction just to maintain activity would not work in passing the real challenge.
I am sure they mention this in the finer detail of their print. It could well pass the free trail challenge but not the actual challenge which will be reviewed at the end for these things.
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