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Hi Maarten,
I keep track of a similar thing with my Infinity Forex Fund challenge account (see Excel screenshot below). Look at 03/23/24 line for example. Here I am trading AUDUSD, USDJPY, USDCHF, EURJPY, and EURGBP for the next week. At the end of the week the only top performing pair looking at 03/30/24 were USDCHF and EURJPY or two pairs out of the five pairs. This tells me only 40% of the pairs traded were top performers for the week. If you now understand how to read the chart you can see how each week performed. In the right most column I show the results for each week. For example, line 03/10/24 shows that 60% of the currency pairs I traded during the next week were top performers for the week. You can also see each week different pair were top performers each week. This table also shows the currency pairs that are top performers each week changes. The right most column of the table shows this weekly change in percent. Bottom line, based upon the strategies of each of my Expert Advisors, I cannot rely upon the same Expert Advisors to be the top performers at the end of each week.
So you might see similar results with your Expert Advisors. Don’t expect USDJPY to be the best pair to trade each week. When I strip out all the currency pairs except EURUSD, USDJPY, and EURtJPY from my table and read the results I get USDJPY as being the top performing pair the next week to only happen 33% of the time. However, this is based upon the strategies of my EA’s. For a more accurate analysis using the strategies of each of your EAs you would need to develop your own similar table.
Alan,
Hi Traders,
WEEKLY REPORT
Week of April 28, 2024 through May 3, 2024. The following are the eleventh week results of trading 10 Expert Advisors (EA) I created using EA Studio. These Expert Advisors are the same Expert Advisors I have been trading for the last eleven weeks without any upgrades or optimizations. The only thing I changed with these Expert Advisors is the lot size each week. These Expert Advisors are being traded on my Infinity Forex Fund (IFF) 100K Algo One Step Evaluation account. I analyzed the results this week using FXblue where I sorted this past one week trading results by sorting the “Net pips” column from most pips gained to most pips lost this past week. I then looked at the Net Profit column to determine profits and losses for the week. The following are the results along with the changes made for trading next week:
This past week ended with a profit of $253.90 and an account balance of $109,678.27. The price target to become a funded account is $110,000. To reduce risk of this next week of significantly drawing down this account, since it is so close to hitting the price target and becoming funded, I am going to continue to limit the risk to the account to 1%.
There were six profitable currency pairs this past week having a profit factor of 1.2 or greater. However, two of the pairs, GBPJPY and EURGBP, will not be traded this next week because over the last ten weeks they produced an overall loss of -0.14% and -0.01% respectively. I will adjust the lot size of each of the four currency pairs I will be trading this next week to have an account risk 0.25% for a total account risk of 1%. The other six currency pairs will have their lot size adjusted to 0.01 lots.
Note: The percentages in parenthesis show the percent gain of each currency pair over the last 11 weeks.
AUDUSD(+1.09%): 0.46 Lot size
USDJPY(+0.90%): 0.39 Lot size
USDCHF(+0.78%): 0.41 Lot size
GBPUSD(+0.55%): 0.29 Lot sizeUSDCAD(+4.03%): 0.01 Lot size
EURUSD(+1.93%): 0.01 Lot size
GBPJPY(-0.13%): 0.01 Lot size
EURJPY(+0.29%): 0.01 Lot size
NZDUSD(-0.08%): 0.01 Lot size
EURGBP(-0.01%): 0.01 Lot sizeThis first chart shows the trading results for this past week:
This chart shows trend line of the cumulative profit since inception:
This chart shows the statistics of this account since inception:
This chart shows 10 of the last 11 weeks of this Evaluation have been profitable:
Alan,
Hi paul4x,
No, its the strategy tester built into MT4 and MT5. Open MT4 or MT5 and click Ctrl+R. If you do not know how to use them check Youtube.
Alan,
Hi Abigail,
Yes you can load in into a demo account. There could be a few reasons why it is not placing trades. Can you send a screenshot of the upper left area of the trading chart so we can review what is being said? Once I know what the problem is then we can fix it!
Alan,
Hi Anne,
You will need to make some changes in the EA properties box. Just let me know what the Max daily drawdown, Max loss, Price target is for the prop firm challenge, also what risk level you want to take and I can calculate the changes you need to make for your 130K challenge.
Alan,
Hi paul4x,
You can use the metatrader Strategy Tester to see if the EA is placing trades. The results should give you an idea as to how often trades are placed.
Alan,
Hi Anne,
The first thing you need to do is to make sure you have properly selected the parameters for the Prop Firm EA you want to download and trade. The following chart shows you need to select the Account size of the prop firm challenge, then you need to select the Max Loss requirement of the prop firm, then the Max daily loss, the Profit target, the Risk, and finally the News filter option you want.
Then you need to download the EA and install it on a prop firm challenge that matches the account size selected. For example, if you have started a 10K prop firm challenge, then you need to seleTct the $10,000 account in the Prop Firm Robot app. If you select a $10,000 account in the Prop Firm Robot app and then install the EA in a prop firm challenge with a different account size the robot will not work until you adjust the account protections in the EA.
Then if you have properly installed the EA in metatrader and have either a smiley face of a blue hat in the upper right corner of the trading chart you should be all set up and the EAs should start trading.
Alan,
Hi VapoChill,
These are the correct amounts for Stop Loss and Take Profit as each pip is worth $0.9 dollars. Keep in mind these EAs have indicators build into them that tells them when to take trades and when to take profits and when to cut losses. These indicators will normally trigger when to open and close trades before the market reaches the Stop Loss and Take Profit hard limits.
Alan,
Hi Maarten,
After 10 hours here is the best performing EA:
In this screenshot you can see the Stop Loss range and Take Profit range in dollars I selected. Then I clicked on Edit and then clicked on Report to see the stats.
Here are the stats:
Here you can see many statistics about this EA. I only boxed in one of the stats because you were worried about how to determine account risk. The boxed in stat shows that over the last one year of backtesting the worse case trade had a loss of 9.89%. So you could use this to set your account risk.
Here I have shown an example on how to use EA Studio to find some EAs for XAUUSD. Hope this helps to get you going!
Alan,
Hi Anne,
This happens when one of the account protections was activated. You can see this in the upper left corner of the trading charts. To resolve this issue you need to modify the Account Protections which is located in the EA properties box.
This usually occurs when downloading the robots where the account balance chosen doesn’t match the actual prop firm account balance.
Alan,
