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Hi Traders,
On February 18, 2024 I downloaded all 14 of the FTMO app robots to my Infinity Forex Funds 100K Algo Evaluation account. I then reduced the lot size to 0.01 so I could monitor for one week how these robots would perform with a different prop firm other than FTMO. The following chart shows the results of that one week evaluation. I chose GBPAUD to trade the next week with normal lot size for a low risk account as determined by the FTMO app because it showed profit for the week and was the top performer. I also chose XAUUSD to trade the next week with a low risk account lot size even though it showed a small loss. My reason for including this robot to trade next week was because is had one winning trade and ONLY had one losing trade for the week and was also the second top performer. Since XAUUSD had one winning trade for the week I decided so trade it the following week as there was a good chance it could have a winning trade next week. If XAUUSD would have had two losing trades for the week I would not have made the decision to trade it the following week. Anyway, these are the types of decisions a trader must make.
The following chart shows the trade results for the following week, the week of February 25th. The results show XAUUSD with a nice profit for the week but also shows GBPAUD had no trades for the week. XAUUSD had 7 trades with 5 winning trades for a 2.5 to 1 ratio and also had a profit factor of 16.23 to 1. I also notice USDCAD came in second place this week with a winning trade. This tells me the current market environment is good for this robot so I will add it to my list of trading robots with a normal lot size for the low account risk robot I downloaded. My list of three trading robots now include XAUUSD, GBPAUD, and USDCAD.
My next update will be during the weekend of March 9.
Alan,
Hi Strobeman,
You can change the magic number and make minor changes to the indicator perameters in the Expert Advisors properties box to make the Ea unique.
Alan,
Hi Steve,
Adding response you your statement “Be informed that EAs are allowed at FTMO.” In the United States and in the UK FTMO no longer allows the use of MT4 or MT5. So in these countries FTMO has migrated accounts of a web based trading platform called DXtrade. With this platform you cannot trade with Expert Advisors.
Alan,
Hi Hemmy,
When funded just change the indicator perameters slightly and then the EAs will not trade the same. Also change the magic number.
Alan,
Hi Steve,
I have also contacted FTMO with regard to using third party EAs. There response was they only apply the third party rule to funded accounts and not to Challenges / Verification accounts. Petko has also stated you can change the magic number to make your EA unique. You can also change the indicator perameters by the smallest amount allowed in the EA properties box to also make your EAs unique. However, you do not need to do this until your account is funded. I would recommend you contact FTMO again and verify the third party rule only applies to funded accounts.
Alan,
Hi Philip,
You should not risk more than 3% of your account balance. So for example, if you choose robots with 1% risk then you should not trade more than three robots. If you decide to trade 4 robots then you should adjust the lot size to reduce risk. As an alternative you could download robots with low risk. In this case you could trade as many as 6 robots which would result in an account risk of 3%.
Alan,
Hi Fxbam,
At the beginning of this week I placed all 14 robots in my Infinity Forex Funds (IFF) 100K Algo Evaluation account. I am using IFF as FTMO Challenges are not available in the United States. So far this week I have had one robot XAUUSD open a trade.
To see how often you should expect the robots to trade go to the Prop Firms Robots app, select Y1, then look at how many trades were made by the robot you want to trade. For example, if the number of trades shows 52 trades this indicates the robot will make 1 trade per week on average.
Alan,
Hi Oly,
To determine the upper and lower lines Envelop lines go to the robots properties box and scroll down to Envelops. There you will see the percentage above and below the Envelop average the lines are placed.
Alan,
Hi Oly,
The FTMO robots do not have a feature built into them to set alerts. To manually set alerts place your curser on the chart where you want to place an alert. Right click. Select Trading. Select Alert. Once alert is placed on the chart you can grab it and move it around. Turn on your pc sound.
Alan,
Hi BigChamp,
As long as the spread increase is greater than the normal spread during trading hours it will not keep the EA from trading.
Alan,
Hi Philip,
You can download the $10,000 robots and then multiply the Max Loss, Max Daily loss, and Profit Target by 9 in the robots properties box.
Alan,
Hi BigChamp,
This is not an issue with the Expert Advisors. You need to contact your broker to resolve this issue.
Alan,
Hi Joseph,
Those are extensions to the currency pair and are part of the name on the tab identifying the chart. You do not need to be concerned about them. When you add an Expert Advisor to the chart just use the normal symbol name such as EURUSD.
Alan,
Hi Felipe,
Go to the forum. Select the topic. At the top right side of the webpage select “Unsubscribe”.
Alan,
