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Hi Harry,
Im sure Petko will confirm but I would expect the only EAs to trade long only to be indices and forex and commodities will be long and short.
The answer to your second question is yes.
Once the EA is removed it is no longer managing any trades that are currently open so you would need to close any open trades from that EA manually if removing the EA. This is easily done by looking at the comment in the open trades in mt4 or 5 terminal.
Last question is a bit subjective but one way to do this would be to trade at least whatever the maximum stagnation period is for the strategy
hope that helps
Good stuff Alan, I found that following that method worked well for me also. However I prefer generating less often and allowing EAs some time on a demo account and then moving them from there as is done in most of Petkos other courses. Many things work, mostly it’s about gaining experience through practice in my opinion.
Well Done Alan, that’s a great achievement.
Stick to your plan for the evaluation and it’s looking like you have a really good chance of landing the account. Keep us posted
Hey Casanogues.
That sounds good, not sure exactly what you mean by not 100% consistent but presumably you mean you are a profitable trader overall?
My advise would be to watch the videos and ask any questions you have. For people who code like myself express gen is super quick and easy to pick up without the videos really (though they are still useful for coders) but I believe that the videos break down everything pretty clearly for non-coders too?
The main benefit I get from express gen is just that it saves me some manual time in my workflow but I would suggest using it as a side to your current workflow until you get the hang of it. Maybe dedicate 80% of your trading time to what you are currently doing in EA studio and 20% to implementing express-gen in the generation process.
Basically express gen is a generator only that works offline and is about 3x as fast as Ea studio, it exports collections that are 100% compatible with Ea studio and can be imported into both Ea studio and fsbpro.
Hey Alan, yeah on my account I got a really great 1st week and then stagnation for weeks 2 and 3 and hoping for a boost over the finish line this week.
I just focus on trading my own accounts these days as I don’t like being so penalized for drawdowns that are actually fine, but I occasionally do a small prop challenge (or even just an ftmo free trial) for fun and bit of a challenge :-)
I did quite a few of them a while back and got through several challenges but back then I was changing things too much and didn’t have the legs to get through the validation phase. Hence why I recommend stick with whatever your plan is and definitely don’t mix things up mid way as it’s highly unlikely to work and you will just lose all the effort of passing the challenge.
They are a challenge to get through (right the way through) even if consistently profitable, can definitely be done of course though. Just got to stick to a good plan and be patient even if it takes several free retries.
Great work Alan, keep doing what you are doing and stick to your plan. You still have the verification to get through and then consistent trading after that so definitely smart to stick with the same methodology throughout and do not sway from this as you are doing.
I am in a similar position with not much left to hit a profit target on a prop form challenge but only a week left to go, had a couple of weeks stagnation so hoping the market delivers for both of us this week, if not we will both get free retries at the least. Can’t do much more that hope the market delivers at this point really.
Hey Alan,
Your plan is sensible enough to me.
I am assuming that you have demo tested the system you will be using for this long enough to feel confident that over this period you have a high probability of passing and keeping the account?
I’d personally be testing on a small live account first to limit the cost and using fx blue to track how you would have done. But everyone has a different risk tolerance. I just don’t want anyone losing money unnecessarily, of course at least the losses are capped and if you are comfortable with the worst case scenario going in then either way I am sure a lot will be learned for the cost in the worst case and ideally you will land an account :-)
Hi Casanogues,
In order to try and help you the most I have a few initial questions.
1. How long have you been algo- trading?
2. How long have you been using EA studio?
3. How consistent are your trading results?
4. What is it that you are specifically trying to do with express gen or fsbpro?
Cheers
“thanks Samuel for your input, I got a lot closer to passing an FTMO challenge because of you!”
Thanks for the shout out btw Matthew, it’s all your hard work that’s getting it done of course. You did exactly as you should which is test any suggestions properly for yourself and then move forward with them if they are working for you. Great to see the improvement in results
Most people who get through the challenge wont be just starting it and passing it first time btw. Ideally there be several free retries before the market deliver on their system but even retakes are gonna be required on good strategies too. Also really getting through a challenge although great is nothing compared to consistently making small profit with managed drawdowns, its just a good month really.
Hey Mathew,
From reviewing your posts I have the following suggestions:
1 – I would personally be increasing your validation 1 to at least 3 months
2 – I would also suggest including demo incubation of at least some form in your system (Maybe even just replace the second validation period with using a demo account instead)
3 – Although I see the sense in the stability of you sticking to JPY pairs this could lead to over correlation so it may be an idea to try adding some other pairs or mixing this up a little, just a thought
Much more importantly though is to stick to your plan at all times:
I suggest the following outline:
1 – Create your system
2 – Test you system on demo for a sufficient period of time until you are confident in it
3 – Only when you feel ready should you try a challenge or prior to that I would even suggest a small money account and limit your risk to the cost of your prop firm fee (ie fund an account with a couple of grand and try a challenge on that but limit your overall drawdown to 500 dollars for example, then check out your stats using fxblue)
Saying that however what you were doing seemed to be working well, you cant really aim for a certain profit target each month but rather to just stay in the game as you were doing, who knows if you had kept doing what you were doing then next month just may have been your month where the market gave you what you were after. Periods of drawdown and stagnation occur in the best of systems, sometimes its a matter of just following your plan. IF it is a good plan then eventually things should come good.
Hey Mathew, well done on the several retry’s and with your 200k account. This is no small achievement.
As soon as I saw you say you were going to switch things up I knew what was coming ;-)
Bummer to lose the entry cost but valuable experience, definitely do some demo for a bit before trying again.
Everything looks good to me regarding your reactor settings btw, I’d focus more on your 2 validations. However you were doing well so an overhaul isn’t what you are after but more some small variations.
I’ll take a closer look this weekend and make some suggestions for you to try (on demo ;-)
Hey Alan, yes I have had the exact same problem this week with stagnation on my accounts. But this is normal, it’s looking good just keep doing what you are doing.
Yeah this sounds like more of a hybrid approach requiring sole manual intervention.
You could also run your algo on a few demo and monitor the magnitude of the moves around news releases to determine how it’s likely to impact.
I personally just leave mine running and don’t worry about the news, I just consider it to be captured in the history of my drawdown size and set my risk accordingly.