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I am no longer using FTMO as it requires to pass target price in one month, its Swap fee’s are too high, it has a daily max loss requirement, and the scaling up requirements mean you have to have a profit for four consecutive months and it only scales up by 25 percent. These requirement are too restrictive for me. Even after having done all the hard work of becoming an FTMO Trader you can still lose your account if you happen to fail the maximum daily drawdown limit. In my opinion this daily drawdown limit is too restrictive for using EA’s. The reason for using EA’s is so you don’t have to sit and monitor the trades everyday. However, with this restrictive daily drawdown it is still necessary to interact with the daily trades so as not to violate this drawdown requirement. This is not something I want to do. So, until the EA’s can be programmed not to violate a specified daily drawdown requirement of a prop firm using EA’s with a prop firm is not realistic. I have moved on to trade my own account where I can use EA’s without all these restrictions and not have the constant worry of losing my account for violating a restrictive requiremnt. My opinion!
Hi Petko,
May I ask these following questions?
Question 1: How you control the MDL with algorithmic trading once the bots trade against your desired direction ?
– FTMO MDL (Max Daily Loss) 5%
– Max Loss = 10%Question 2: How you generate Robots to trade for FTMO challenge due to little historical data for EA Studio Software ?
Question 3: When you are going to launch Algo Trading for Prop Firm Challenge ?
Regards,
ARRR
Hi Matthew and Samuel,
I recently read through this post and decided to try the strategy you outlined in your 17/11/22 00:42 post. I have been retrospectively testing it, that is to say I run the reactors and validations as if todays date were Saturday 6th August 2022. I then pick the best 10 strategies as per your post and using the validator i see how they perform over the following 2 weeks, ie between Monday 8th August to Friday 19th August. Then I repeat the process as if todays date were Saturday 20th August, and so on and so forth. That way I can build a picture over time as to how this strategy works over a period of a few months. I have had some partial success with this, the results have definitely been more encouraging than another system that I had been using til recently. I had some extra questions and wondered if you could help Matthew, or Samuel (as I know you had been providing advice to Matthew).
Do you only run one reactor with the 20 – 200 TP / SL settings?
If you run more than one reactor what other settings do you use?
How long do you leave the reactor(s) to run for?
What collection size do you set?
Your instructions state 30 months is the initial data horizon, then 2 months for validation 1 and an additional 1 month for validation 2. @Samuel I noticed in one of your replies you suggested to Matthew that validation 1 should be 3 months minimum, @Matthew have you done that and if so can you comment on whether 1 month or 3 months work better for validation 1?
Also re the initial 30 month data horizon, my broker (IC Markets) data only goes back to 1/8/2020 for 1HR, which means the earliest 30 month period I can input to generate strategies is 1/8/2020 to 31/1/2023. 1 months for Val 1 is 31/1/23 to 28/2/23 and add 1 more month for val 2 is 1/3/23 to 31/3/23. Which means I cant really try this strategy using my own broker data until the end of this month. I have experimented with a shorter initial data horizon of 15 and 18 months (and lowering the minimum trade count accordingly in acceptance criteria) but the results have been mixed. So do you both feel that the long initial data horizon is fairly critical to the success of this system?
Also Matthew in your post you mention you use the Premium data set to generate the strategies over the initial 30 month period, but then you must load the 10 successful strategies onto an MT4 or MT5 account which will use your broker data? I assume you find this still works fine? My instincts usually say I should only load strategies generated using IC Markets data on an IC markets account, because its the same data so you should be able to have confidence that strategies that perform on a backtest of IC Markets data should perform going forward on IC Markets data? But then I realised you generate strategies using the Premium data and must load them on an account using a different broker data set and you are still getting results so presumably you don’t see this as a problem? The Premium data set starts in 2007 so certainly I could do much longer range historical testing with this data set.
I should also check – do you do val 1 and val 2 using premium data or using your own broker’s data.
Thanks for your time and sorry about all the questions, but it really sounds like you are onto something so I am keen to exploring and running my own tests with this system.
Thanks,
Steve
Thank you very much for sharing such information, I am very grateful. That there are people like you who share their results. You are very good at helping to make a decision whether it is worthwhile to earn by such a system or not.
Hello ARRR,
Today I am updating the current course with the EA and a complete section of how I use it.
You will see the whole thing.
And why do you consider the Historical data on EA Studio as small? You can increase it to 500 000 bars?
Hey traders,
Here is a video from today that might be useful to all participants in this topic:
I also updated the FTMO course with the Semi-Automated System I was testing.
Interestingly, I passed the Verification as well with the system. I wasn’t planning to include it in the course, but I will so it will be more beneficial for all having the course.
Hi Petko,
Today I reviewed your updated course adding the semi-automatic trading strategy. However, I could not find the link to the EA you used. Also, the Conclusion video was not accessible as it says it is a private video.
Cheers,
AlanHey Alan,
Thanks, please check again, it is fixed now.
I will also update the course with the Verification process this week. The EA passed it quicker.
Hi Alan,
Your opinion on the daily drawdown limit in FTMO is very valid. It is by far the most difficult requirement and I also trade my own accounts to avoid the restriction. However in doing the challenge your risk should be reduced as you progress through the process, by its very nature it is a challenge and to pass that phase your risk needs to be pretty high, however this should be reduced up to half for the verification and then definitely reduced by half again when trading ongoingly.
I did notice you were flying a little close to the sun in terms of the daily drawdown limit with the challenge results, but I assume that the intention was to reduce your risk considerably when trading ongoingly? In this case I don’t think there is any reason to be overly concerned with the daily drawdown limit right?
You did the hard work to get through (Which with these is also a case of the market aligning well for during the challenge), just set set your risk to a quarter of what you used for the challenge phase and keep running your system and that way the daily drawdown should be pretty far off really.
Hi Steve,
For the first 4 question regarding the reactor. I personally develop settings by feel, I often start out pretty strict but if after an I notice that I am only really getting say 1 strategy every hour I will then ease up a bit. I usually run several reactors to make the most of whatever computing power I have. Collection size set to 300 but that’s rarely filled and to be honest I usually just leave mine running even for days sometimes.
As to your question regarding broker data, given the lack of data I would suggest the following:
1 – Use Premium Data for the reactor
2 – Run your collection through the validator on however much broker data you have (form 2020 is plenty)
It is completely okay to generate your strategies using the premium data as long as you validate on your broker data for what you have also. Make sure to also set the swaps to you broker data for the premium data when generating.
Hey guys,
To keep you up-to-date, I have added one more Expert to the FTMO Course that worked better during the Verification:
I also added another four lectures to make it more transparent what is the difference between the two EAs more.
Trade safe!
Hi Petko,
Thanks for your reply, Do you think it’s a good idea to use “Forex Historical Data” ??? Because I cannot load enough data from their MT4’s terminals.
https://platform.algotradingspace.com/software/forex-historical-data/
For all these prop firms (FTMO, MFF, TFF and etc.)
Regards,
ARRR
ARRR,
Petko has demonstrated that the results of using candle data from your broker and using the premium data is the same as long as you update the Long Swap, Short Swap, and Commissions from your broker with the default Long Swap, Short Swap, and Commissions in EA Studio.
Alan,
It’s always great to see traders sharing their experiences and results with others. Thanks for sharing your experience with FTMO, and congratulations on your success so far! It’s important to remember to always trade with caution and adhere to risk management strategies, regardless of the platform or challenge you are participating in. Good luck with your future trading endeavors!
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