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Hi Samuel,
During important news it is quite possible for the price of an asset to drop more than 5% of account balance if lot size is too large. This could then cause FTMO account to fail test. If the lot size is made quite low to avoid a 5% account balance drawdown then the FTMO account may not reach 10% profit by end of its testing period. I understand what Petko that over the long term the swings caused by important news events will cancel each other, however, when trying to use EA’s with FTMO this logic does not apply. The alternative is to either manually close all trades before an event, if I can remember to do so and I am at my computer which I may not be able to do, or to find an MT4 script I can add to each EA code. I am just trying to figure out how to handle this potential problem when trying to pass the FTMO testing period.
I made some adjustments to match EA Studio and trading results. Net profit now nearly the same, number of trades are the same, and profit factor nearly the same. The Balance chart from EA studio and FXblue do not look the same. However, if I were to smooth the EA Studio Balance Chart I suppose they would look similar. What do you think?
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.
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 Samuel,
I was under the impression that once the historical data was downloaded from the historical data tool that it would continue to automatically update. However, as you have stated it does not do as I expected.
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.
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,
A portfolio of strategies used in the FTMO challenge would be exempt from the FiFO rules for traders in the U.S. taking part in the challenge.
Petko and Samuel,
I think you are misunderstanding what I was saying. Petko made a comment about creating a course to help traders pass the FTMO challenge. I just thought it was a good idea especially to those traders in the States. The reason I said this is because if such a course were to include a portfolio of strategies it would help traders in the states to be able to use such a portfolio of strategies which we cannot do now because of the FIFO rule.
Hi Petko,
I was referring to your comment on creating a course to pass FTMO challenge. This way traders in the States could use EA’s that contain multiple strategies as the FIFO rule would not apply.Hi Alex C,
I wanted to comment on your confusion as posted above “After posting it only went down, no positive weeks anymore… still in profit but I’m confused …” If I am off base I hope Samuel or Petko will correct me.
When we create a strategy the balance line does not go straight up and will have periods of drawdowns. So it makes sense to me that the strategy will have periods of draw downs in the future. For example my portfolio of 10 strategies from 02/19/2022 through 08/19/2022 has a drawdown of 1.65%. When I move my strategy forward from 03/19/2022 through 09/19/2022, which includes the most recent price action of the market, it has a current drawdown of 2.47%. The current draw down is a little less than 1% greater (2.47% – 1.65%). I attribute the current draw down I am experiencing at due to the current increased volatility in the market as due to recent economic conditions which is worse than the previous six months. It is my belief that as we go through the months ahead there will be periods when my portfolio’s balance line will continue to move higher along with future periods of draw down. So, while it may be frustrating to watch my portfolio go through the current drawdown I am not giving up. I believe that my portfolio will continue to increase in value as I go through the months ahead. So, in my opinion, I don’t think I would be confused yet. I would give it more time.