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Hi Orlando,
Ilan brings up an important point which may be the correct answer to your question. However, keep in mind that besides the Account profit target, that is set when you download the prop firm robots, each EA also has it own profit target built into it. When the Account profit target is hit then all the prop firm robots open positions will be closed. However, when an individual EAs profit target it hit only that EA will be closed.
Alan,
Hi Orlando,
Each EA is attached to a separate Symbol chart and works independently from other EAs. Same with the Prop Firm Robots. All EAs work independently from other EAs.
Alan,
Hi Sebastian,
Thanks for your comments about the methodology in learning EA Studio. Happy to hear you are enjoying creating your first expert advisors. If you have any questions feel free to ask them here. And, please use the links provided so I can get credit.
Alan,
You can find a description of the differences of both EA Studio and FSBpro by clicking to the following link:
https://forexsb.com/wiki/forex-strategy-builder-pro-and-expert-advisor-studio
I mostly use EA Studio and recommend it as it is a lot easier to learn how to use.
Happy Trading,
Alan,Hi Sebastian,
This is Alan and not Ilan :o). I am happy to hear you are using the procedure I put in place for traders interested in purchasing EA Studio. I would be interested in any comments you might share with others as to what you thought about the procedure.
Happy Trading,
Alan,Hi Alexius,
Changing the lot size will not have any affect on open positions but will affect your account risk and margin!
Alan,
Hi Sebastian,
I would also recommend you review the following topic before purchasing EA Studio. It gives you a lot of ideas on how to learn more about EA Studio, create EA’s for free and test them before making the decision to purchase EA Studio. This will give you a better idea if you really want to continue with the idea of purchasing EA Studio.
https://eatradingacademy.com/forums/topic/ea_studio-how-to/
Alan,
Hi Eleanor,
FXIFY no longer allows citizens of the US to use MT4 or MT5 and has migrated my account to using the DXtrade platform. As a result I am now using my US forex broker to run my EA’s and I am copy trading to my DXtrade platform. I still have my FXIFY 10K account but am not using it. Instead I have an FXIFY 50K One Step Challenge that is now funded. You can find the results of this challenge in this link. Also I have an FXIFY 400K One Step Challenge that has profited by almost 18K. I need to reach 40K to get it funded. Both these accounts are copy traded from my forex broker.
Do you currently have an account with FXIFY? If not you can click on this link to learn more about how to open an account.
Alan,
FXIFY 50K One Step Challenge
Hi Traders,
On July 9th I started an FXIFY One Step Challenge. On September 20th I passed the challenge and received a 50K funded account. In this challenge I used the Prop Firm robots from July 9th until August 16th. In mid August I learned FXIFY was no longer allowing traders in the US to use Metatrader and was migrating to using the DXtrade trading platform throwing a curve ball into my trading strategy. So from August 16th through September 11th there was no trading while I figured out how to continue this challenge. I then decided to use my forex brokerage account and copy trade from MT5 to DXtrade. I then started creating new expert advisors using EA Studio. From September 11th through September 18th I continued trading this challenge using the expert advisors I created. On September 15th the expert advisors started going through a drawdown. On September 18th, to keep the challenge from drawing down any further, I decided to manual trade this challenge on the DXtrade platform. On September 20th I passed the challenge.
You can view the statistics of this challenge, the balance line, and all the trades used in this challenge by clicking on this link.
To start a new FXIFY challenge of your own click on this link.
To learn how to use EA Studio to create you own expert advisors follow the method I have developed to learn how to use EA Studio for FREE by clicking on this link.
To learn the trading method I use to pass my challenges read and study all the replies I posted to pass a 1ooK challenge by clicking on this link.
Alan,
Hi Sulaiman,
The other side of your argument goes like this: Suppose price moved to half of the take profit target, reversed back in a downward direction, hit the trailing stop for a profit, and then price moved back upward and continued on to surpass the original take profit price. What happened in this hypothetical example is that the trader would have received half the profit instead of the full profit. This hypothetical example can happen in reality because all EA’s will go through drawdowns, and if the trailing stop is set too tight then the positions would be closed during a drawdown instead of allowing price to complete the drawdown and then continue in the profitable direction and hit the price target. If the trailing stop is set too loose so as to not close out a position during a drawdown then perhaps the trailing stop is of no value. When the EA’s are created the take profit and stop loss price points are determined to allow for the optimum profit and minimum losses based upon the historical data. As a result, statistically, over the long term, it is more profitable to allow trades to complete their drawdowns and continue on to hit their profit targets while occasionally taking a loss.
Alan,
FXIFY 50K One Step Challenge
Hi Traders,
Over the last few weeks I have been busy creating Expert Advisors using EA Studio and testing them on my TradingDotCom demo account and testing a couple different DXTrade copiers on a couple of my prop firm accounts. I will continue my testing for the next week or two. Once I am satisfied will the results of the Expert Advisors and the trade copier I am going to be using I will once again start posting my results of this challenge.
Alan,
Dear Traders,
As of August 18, 2024 FXIFY no longer offers MetaTrader in the US. As a result, I am no longer able to continue the testing of the Prop Firm robots.
Alan,
Hi Ricky,
I don’t know if you already saw the topic as to how I actually do my trading. If you follow the replies I posted from the very beginning of the topic to the end you will learn the strategy I use. This strategy got me all the way to an Infinity Forex Fund funded account. This is the trading strategy I found that works best for the way I like to trade. Near the end I show I only had one losing week out of the 12 weeks it took me to hit the profit target and get funded.
https://eatradingacademy.com/forums/topic/ongoing-challenge-10-eas-from-ea-studio/
Alan,
