Forum Replies Created
-
Posts
-
Hi rasa,
This is not a bug but how the prop firm robot app works. As you change the account size the profit in “dollars” changes and this then can change the order of the robots from most profitable to least profitable.
Alan,
Hi Boyan,
You are correct! Your number 1 is the Prop firm Robot app. Your number 2 is the Top 10 EA app.
Now about the Top 10 EA app: The Top 10 EA app has been trading for more than one month but was not made public until now when it was decided to launch this app. So the 30 day performance is accurate!
The Prop Firm robots are created to be used in passing prop firm challenges. These robots have account protections built into them so they will protect the trader from losing the account.
The Top 10 EA app was created more for trading brokerage accounts which do not have the stringent draw down limits. However, the account protections are still built into the EAs but are just not being used. Knowing this you can use the Top 10 EAs to pass a challenge but you need to manually set up the account protections.
So, either app can be used to pass a challenge. The Prop Firm robot app is a little easier to use as you can select the account size, the Max daily drawdown, the Max drawdown, and the profit target based upon the limits set forth by the prop firm you chose to use.
Now for using EAs on a funded account: Here is where a problem exits. The problem is that most prop firms do not allow using third party EAs. However, most prop firms do not apply their rule with challenge accounts but only on funded accounts. The Prop Firm robot app is advertised to help you pass a challenge and is not advertised to be used with funded accounts.
Alan,
Hi Boyan,
These two are the Top 10 EA app:
This is the Prop Firm Robot app which is different from those above:
Alan,
Hi Boyan,
Don’t feel bad about asking questions, this is what we are here for!
The Top 10 EA app and the Prop Firm Robot app are two different apps with different strategies.
The Prop Firm Robot app is used for trading Expert Advisors with prop firms. The Top 10 app is created more for trading on live accounts. However, you can use them on Prop Firms but you will need to set up the account protections manually.
Alan,
Hi Boyan,
I can see from the chart your confusion. There are ten different assets, EURUSD, GBPUSD, USDCHF, EURGBP, EURJPY, USDJPY, XAUUSD, XAGUSD, BTCUSD, and ETHUSD. Each asset has 10 Expert Advisors. This makes a total of 100 Expert Advisors. The forex Expert Advisors are: EURUSD, GBPUSD, USDCHF, EURGBP, EURJPY, USDJPY. The Commodity Expert Advisors are: XAUUSD, XAGUSD. The Crypto Expert Advisors are: BTCUSD, and ETHUSD.
The two images above are really the same except for price. At the moment you can get a great discount on the Launch price. This price is only offered during the launch week and ends on April 23, 2024.
Alan,
Hi Pak Ku Leung,
No, they are all the same EAs. Choosing Y1, M1, W1, D1 does two things. For example, if you choose M1 then all the EAs that have not traded over the last one year are blocked from being viewed. Secondly, it zooms in on the right hand edge of the charts so you can get a better view of how the EAs are currently trading.
Alan,
Hi Boyan,
Actually you have things kind of backwards. To start with none of the strategies in the Portfolio have slashes in front of them. This allows them to trade. This is why they were trading in the demo account. Then in the live account to STOP certain strategies from trading slashes are put in front of them in the source code of the Portfolio. After the slashes are placed then the source code needs to be compiled. Now, the strategies with the slashes placed in the source code will become INACTIVE. All other strategies will continue to trade.
Alan,
Hi George,
I use a pip calculator. Here is the link;
https://www.babypips.com/tools/position-size-calculator
Risk is calculated as a percentage of the account balance. For example, $1000 account with a 1% risk would mean you would risk $10.00. So if you are trading 2 Expert Advisors set the risk for each EA at $5.00 or 0.5%.
Alan,
I don’t think there is much you can do with $64 because minimum lot size is 0.01 and margin requirements. I recommend just practicing with a demo account until you learn to trade successfully. Save up some money. Then later when you have proven to yourself you can trade successfully, then open a live account. Can you not get the robots as single robots instead of the portfolio experts. If not then later I can show you how to convert the portfolio experts into individual robots. To do this we will need to go into the source code and make some changes. But first just practice with a demo account.
Alan,
Hi Chandan,
If your broker has a demo account I would recommend creating a $10,000 demo account. Then install all robots with lot size 0.01. Then let is trade for a couple of weeks. Then look to see which robots are performing the best. Then take the three robots that are performing the best with profit factor greater than 1.2 and put them in a $1000 live account. Then each weekend look at the demo account to see which three robots are performing the best with a profit factor greater than 1.2 and put them in the live account. Keep repeating this process. This is what I am doing with one of my $2500 accounts. Over the last few of weeks the account has grown more than 1%.
Hope this helps,
Alan,
Hi Konstantino,
Answer 1: If you are using the Expert Advisor to trade with a Prop Firm then I would highly recommend setting up protections to keep from the possibility of losing your account. However, if you are using the Expert Advisors with a demo or live account with your forex broker then the decision of using protection is up to you.
Answer 2: After years of creating Expert Advisors Petko has learned there is no advantage of using trailing stops, in fact, it can actually cause the trader to lose more trades. Here is the reason: In the majority of trades the market will draw down by a percent or two before trading in the positive direction. With trailing stops this could cause your trade to stop out with a loss instead of going on and becoming profitable.
Alan,
Hi Giovanni, I believe one of our team members has already asked the developer of FX Gold Investor to a dd DD protection. I believe it is going to be added to the next release. You can contact the developer to verify and ask when to expect the next release. In the meantime, please be advised Gold is highly sensitive to changes in the US Dollar. Currently, the US Dollar is very volatile. So early every month when the economic news comes out that affects the US Dollar you should expect Gold to make large moves. What you can do is to manually stop trading gold on these days until there is a fix for the FX Gold Investor app.
https://www.forexgoldinvestor.com/cb?hopId=c537bed4-ff7d-4c40-979a-4bf6a4b4ffc8
Alan,
Hi Giovanni,
Yes, our Prop Firm robots have Daily DD protection and Max DD protection:
Alan,
Hi Traders,
Today I opened a 10K 1 step challenge with FXIFY Prop Firm. The first thing I learned after installing the MT4 terminal is that this prop firm does not allow much historical data. In fact, the historical data allowed for the M15 time frame, my favorite time frame, is less than 1 month. This does not allow me sufficient historical data to create some Expert Advisors. So how do I successfully trade using this prop firm? So I am going to use this account to run some tests. The first thing I am going to try is to take my Expert Advisors I created over 9 weeks ago that I am using on my Infinity Forex Fund Challenge and install them on my FXIFY trading charts. I am going to set the lot size to 0.01 and monitor how these EAs perform over the next week. I will report my finding next weekend. So I am actually running two tests at the same time. First I am testing if EAs created over 9 weeks ago can still be used for trading. Second, I am testing if EAs created from historical data from another prop firm can be used. Stay tuned…
Alan,
