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Hello everyone. After studying the EAs and testing a bit further my idea on how to use the prop app and EAs is: choose the top 4-5 Y1 performers DD<5 lowest peak above your starting balance, half the starting lot 50%, adjust before/after news according to your prop, don’t change anything else and just give it time to do its thing, scale up as you go. Monitor every Friday after marker close and keep a log/journal of performance. If trades hold in profit more than a day, possibly add manual trail at 1/3 of TP or close manually at 3/4 of TP just to make sure youare bringing any some profit. Check Prop App every Sunday afternoon for any major changes based on your account and make any needed adjustments before market open Monday. Any ideas/suggestions please let me know.
Thanx so much Alan really appreciate it.
Now regarding news 2 things I’d like to ask: 1. Shouldn’t the EA avoid opening trades during high impact news 2 mins before and 5 minutes after? And if so should we increase this time frame let’s say 30 minutes before and 30 minutes after to avoid these news? Or as you said the news sometimes are just too many so restricting the EA in general could also prevent it entering some favourable news positions and it is virtually impossible to say which is which and try to keep out from all of these so it’s better to let’s say avoid the hard core of the events 2-5 minutes before/after to also be within the prop firms regulation of trading news but also keep the lot size under control so in case things do go south the loss won’t be that big. And simply wait for better days.
I was also thinking about the idea of closing any trade during high impact news (or switch off autotrading) if I see that it goes beyond an acceptable loss limit for me, more than 1/3-1/2 of the SL distance, as this is clearly a sign that price is going the other way to place its self in a position of a new high only to drop/rise from that point after the market is no longer interested in that position (so should also keep an eye on volume – very low volume on strong uptrend/downtrend is a strong indicator of a reversal coming up). But this is something you can manually act upon but a bot should follow its system no matter what and this is what it supposed to do. Which means let it run do its thing be careful with lot size and eventually things should change.
Hey Alan, thanx for the feedback. The EU trade was closed completely as i didnt set up partial tp. After that the bot didnt open any other trades on the same day. After that i switched to a different set up keeping the XAU as more active and due to its higher value wins i had.
However the past few days XAU on M15 has opened a few trades the wrong way (or at least the against the market but at the correct direction at the time just the market didnt follow) so this week i wa a bit at loss. Far from the EP and the losses were smaller as the sl or the manual closing/manual trail were much shorter than the win runs. I am now trying to self control against getting scared if a trade goes the wrong way for say 3-4 hours with no signs or reversal and also trying to figure out if setting manual trail sl would help in some cases. In general, i have studied Petko’s approach with choosing only 1-2 top performers and changing nothing of the settings and simply trusting the system and let it run its course. Maybe only tweak lot size a bit and if profitable start scaling up.
One thing i noticed is that Thursday and Friday XAU opened 2-3 trades thinking it will go buy but market went massively sell so the bot stayed the course until it closed earlier at some point with about 70-100$ loss and at the same time opened a new trade on the prevailing direction and gained back some of the losses in the end. But, since this is not grid or martingale, does the bot do that in general? Closing early and opening new opposing trade on its own? I didnt see any close at opposite signal settings.
A wee update on progress : EU, AU and XAU bots have been running on my 3 challanges (10k, 25k and 50k) for about a couple weeks now. In general there is more win in value than loss, vast majority of trades is with XAU and the last week was not good but still safe under the EP limit.
EU made a couple of trades both of them wins. However for both pairs since the TP was pretty far away, i had to close the trades in profit manually after at least 3/4 of the TP run was done. Sometimes by setting manual trail in MT or by simply cloing the position.
Now based on the above, i will try a different set up for the coming week focusing on even lower top performers 1-2. I will also get all bots in the app running on a 25k demo making sure their total lot size is within the 1% of the medium risk. I ll run them for at least a month to check best performers there and compare with what the app suggests and my selections for the first couple of weeks in order to cross check and have a better view.
I am pretty sure that not all top performers will perform on the blue side, however i am also pretty sure that there are 1-3 that will show promising consistency and i am more than curious to see that since different brokers, different pairs and different market conditions can vastly affect theoretical optimisation, so real market conditions would probably the only way to have better understanding and verify.
My strategy on reading top performers is : check pairs from Y5 to D1 all the graphs that show smoother lines, lowest DD and match those in Y1 with no big balance gaps against time elapsed to figure out ideally how long it will take for the bots to show positive performance. Then choose no more than 3 top performers to use per week and repeat the process every Sunday to check for changes.
Hello guys,
trying to get some insight on these:
1. I understand that optimisation in the app is providing best trade settings per TF and historical data chosen per account size. So besides, lot size do I need to adjust entry protections (spread, max positions max lot) or for example the entry time/schedule? What would you suggest please?
2. I check for 1-3 top performers looking for smoother graph line and lower DD version and use only these. Any suggestions here as well please?
Hello guys,
trying to get some insight on these:
1. I understand that optimisation in the app is providing best trade settings per TF and historical data chosen per account size. So besides, lot size do I need to adjust entry protections (spread, max positions max lot) or for example the entry time/schedule? What would you suggest please?
2. I check for 1-3 top performers looking for smoother graph line and lower DD version and use only these. Any suggestions here as well please?
i usually check Y5 to D1 for top performers and only pick 1-3 max with the lowest DD. I am now trying to figure out adjusting max spread and entry schedule for extra protection, even beyond the news filter which i set for high only and for 5mins before 5 mins after.
Hi Richard, i believe the lot size is calculated based on the account size and risk mode/percent selected in combination with the SL/TP for each optimisation version. If your target is 10% (10.000) then a trade of 1000-2000 range could make sense as it would ideally take 5-10 win trades in a row to hit your target. However, it might be wise to half the lot even if takes longer as this could mitigate any high losses as well if things go the other way.
Hey Alan, quick one if you know: is the entry time schedule and the zero entry protections part of the optimisation as well? So we could either adjust only lot size and maybe spread max or we can leave it as is since it has been optimised in the Robot app?
Hello Guys. Do you adjust entry time or entry protections at all? I am trying to research and monitor spread behaviour and best entry time settings for XAUUSD, EURUSD and EURAUD. Any thoughts ideas much appreciated :-)
Thank you Alan. Regarding entry settings, I was wondering why by default these are all zero although if you set them up you would get safer trades but also much less activity. The bot is set not own many trades at the same time anyway, and the schedule and news and equity protection filters that are on by default can offer significant protection I believe. This is why max spread, max open positions and max lot can be both good and bad. Also, I usually cut the lot size suggested by 40-50% to make things even safer. So was wondering maybe the entry protection is a bit overkill if the activity of the bot would be further restricted as from monthly to daily sets the amount of trades fall to 1 trade (month-week-day) although usually the DD is much lower than Y1 or Y5 which offer more possibilities of trading due to larger history data with also better correlated balance-equity graphs.
So I would usually select 1-3 top performers tbh either M or Y1 and avoid W or D most of the times and use them only for confirmation and verification for my selection of the top performers. I would also avoid putting more than 3 bots on same account at the same time and avoid increasing lots at least until I hit a minimum of 3 consecutive wins which then go and scale a bit higher.
Now regarding trailing I do agree that usually will eat to your profits but at least it won’t run you to SL or bigger losses if set correctly. In general manual setting of the SL when the trade is going good is better as well as maybe adding the MT trail after your position is at least 1/3 in profits run.
Hello everyone. 2 questions :
1. do we “mess” at all with the entry protections or leave them all to zero?
2. Could we add a trailing (indicator calculated or fixed points) for longer trades to have the EA monitor any significant profits rally so it can protect some profits in case things start to go the other way?
Cheers :-)
Hi guys. Got my first XAU trade on M15 from FTMO Prop EA. I immediately closed all other manual trades i had opened to give air and room for this trade as although the lot size is small, the range of the trade is quite big and i assume thats why it takes days to close if not in favourable trend. However, risking about 250$ per trade that means any other trading in the account should be restricted to minimum or very closely monitored. I use the manual trade mainly to increase to support of the big one in margin available (if in profit) as every little counts, and if in loss to lose small. Now if the FTMO EA goes very close to TP i would close and take that profit and not place any more trades until next day. I would wait for another win of the EA before thinking of raising the lot and only after i see if the same pair is again in the top 3 performers in the app after the week closes. I would then choose accordingly between weekly and monthly optimisation EAs (for me daily and monthly are not suitable).