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Hi, let me address all the properties one by one.
R-Squared is a statistical measure that can be useful to gauge how the strategy’s performance is influenced by broader market movements. An R² of 0 means that none of the performance can be explained by the index used for comparison. An R² of 50 for example, suggests that approximately 50% of the strategy’s performance can be explained by fluctuations in the benchmark. Please check this post and the linked video to learn about R-Squared (this is a complex statistical measure and it’s not that simple to explain so better read the post and watch the video).
Return to DD (Return to Drawdown) is a measure that helps evaluate the risk-adjusted return of the trading strategy. This ratio is calculated by dividing the total return by the maximum drawdown experienced during the observed period. For example a ratio of 0.99 suggests that for nearly every 1% of drawdown experienced, the strategy generated an equivalent increase in value. With another example, if Return to DD is 3.57 it indicates that the strategy earned about 3.57 times the maximum percentage decrease experienced in account value. This high ratio is a positive sign, showing that the returns significantly outweigh the risks taken (measured by drawdown).
Profit Factor is the ratio of gross profits to gross losses over the specified period. It helps to understand how well the strategy performs in terms of profitability.
Regarding what would be good values, we don’t put that much attention to the actual values of the above parameters. The way we use the app is just to pick the top 3/5 for from the weekly/monthly charts and trade with them. Then we check the performance on a daily basis and make amendments to the strategies we trade with if there are new top performers in the top 3/5 for the period we’re looking at. This is the system we follow and it works for us but this is not a recommendation or the only way to do it. Some traders might use the above properties to select their strategies or might have their own way to manage the EAs.
It’s a personal choice how much you will be risking. As I mentioned above, by default the EAs from the Prop Firm Robots app come with a pre-set lot based on the settings you choose. The lot is different for each pair and for each strategy. We don’t use the Prop Firm Robots on live accounts and we don’t have insights on this. On our live accounts we use EAs from the Top 10 Robots app.
Hi Nikos or Petko,
I noticed that not all EAs have a trailing stop loss. Is there a possibility to add such functionality in all? For example USDJPY M15 #2013751115 doesn’t have a trailing stop loss
Hello Nicos,
I tried other pairs and tried downloading data from another broker but the problem still exists!
Do you know any other way?
Thanks
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Thank you Marin for a great response.
just as a follow up, if i trade a $10K account, with the applicable EAs from the prop firm app, on moderate risk, what would be the advisable settings for entry lots, maximum daily loss, maximum daily drawdown, minimum equity and maximum equity
Regards,
Hi Tsholo, practically you can, as long as you’re using the appropriate EAs for your account, but you might face several challenges with the live account.
First, if you plan to use the EAs from the Prop Firm Robots app on a live account, you need to download the EAs for the appropriate account size, e.g. if you’re planning to use them on a $10k live account, then you would need to download EAs for $10k challenge.
Another thing is that the EAs from the Prop Firm Robots app come with several protections that you preset prior to downloading the EAs. Those reflect most prop firm challenges requirements. You can modify them after downloading the EAs. Those are the Daily Protections and Account Protections. While these are good when participating in prop challenges, they might limit the trading in the live account. On the other hand, they can help to protect the account from huge losses in case market goes downside. So it’s a personal choice if you’re going to change them or not.
Another difference is that each individual EA in the Top 10 App by default is preset to 0.1 lots per trade. In the Prop Firm Robots app the each EA has its own individual lots, and the lot size differs from the risk settings – low (0.5% of the account per EA), medium (1% per trade per EA) or high (2% per trade per EA).
Always start with a demo account with the same size you plan to have on the live account and test different setups to see what works for you and if you’re satisfied.
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4o
hi Marin.
Is it ok to use Prop firm EAs on my 10K live account, if i cannot afford to get the top 10 app yet. This can get me going in the meantime.
If so, which settings would i have to adjust.
Regards,
Tsholo
Hello Nicos,
I tried more than 3 different browsers and the problem was not solved!
Is there another way?
Thanks
Most probably the files you try to upload are too big or it could be a browser issue. Please try to upload the JSON files one by one (not dragging and dropping them all). Please let me know if this worked once you test it.
Hello, the download link is available in the video description. For convenience I’m sending it here as well.