Prop Firm Robots App & v6.0 – New Features Released!

[ochoanel]

Where do you try the BOTS because IFF doesn’t have a demo?

[Alan Northam]

I use Dukascopy.com when I need a demo account.  However, with IFF I just opened an Algo Evaluation account and used it as a demo account.

Alan,

[aaronpriest]

The5ers High Stakes account would be the next best option. They are the second oldest (second to FTMO) with a good reputation.

[Hooman51]

Hi everyone,

I hope you are doing well,

These are the results of my first week by FTMO Robot v6 ,

7 out of 8 robots were selected and tested in this run, and Of course, I had to manually close 3 positions last night at the end of trading  hour,

I will definitely continue the test for the second week as well but I do not think that I can pass the challenge in “one month” with this few trades,

The low number of positions could also be due to the range of the market, but I am very curious to know how Petko was able to pass the challenges in a month.

[Alan Northam]

Hi Hooman,

Which prop firm / broker are you using?

Alan,

[Hooman51]

Hi Alan,

For the test run I use Alpari but my real account will be FXCM.

H.

[Alan Northam]

Hi Hooman,

Thanks!  Trade results will be different with different prop firms / brokers so it is important when sharing results the prop firm / broker should also be noted.  Thanks for sharing!

Alan,

 

[Hooman51]

Thank you Alan, I remember this point,

In fact, several of my friends are waiting to see that I pass my challenge by these robots and so they buy FTMO robots too,

And I am really trying to pass the one month challenge.

H.

 

 

[Alan Northam]

Hi Hooman,

Its just that when others see your results and they are not the same as yours it makes them worry as to what is going on.  So when we compare our results, and this is for everyone, we need to also share the prop firm/broker we are using so when others see the results they will understand why there are differences.

Thanks again,
Alan

[gabiscriba]

Hello everyone!
I have a challenge account at FXIFY.
After I tested and went crazy with both version 5 and version 6, I only recently understood that actually the only correct testing method is to test on a live account with 0.01 lotsize. Which I will actually do starting from Monday. I see which robots performed the best last week and for the first 3 I will increase the lotsize depending on the value of the account we have. And at the end of next week we will do the same.
From the discussions on the forum I understood that with any broker or prop firm, their demo accounts and their live accounts can or can not use the same server with the same historical data. So, the results can be completely different.
The same thing can happen if we use robots on the challenge account, pass both phases and receive the live account. And the live account is on a different server than the challenge account. The results will again be different.
For example, in order not to test the FTMO demo account in vain, on Thursday I sent them an email in which I asked them if the demo account, the challenge accounts and the live accounts are on the same server, with the same historical data. No answer so far.
I hope I have understood all these things correctly so far.
To be honest, I never imagined that using robots could be so complicated and so time-consuming. Very long time.
And I’m waiting to see the first users who will receive funded accounts.
I saw that Petko has already passed, but let’s not include Petko here.

[gabiscriba]

Hello Alan.
I do not have a challenge account at FTMO.
The decision to buy a challenge account from them depends on the answer I expect from them. If the demo account and the challenge account are not on the same server, then the performances of the robots on the demo account are irrelevant.

[Alan Northam]

Hi gabiscriba,

Petko uses the FTMO FREE demo account to test the robots before he uses them on a funded account.  He has had a lot of success doing this.  He has also used the results of testing on the FTMO demo account to use the robots with other prop firms and he has had success do that as well.  This is the strategy he uses to tests the robots and has had success in passing challenges on FTMO and other prop firms.  Infact, he suggests using the results of the FTMO app for deciding which robots to use on the FTMO challenge as well as using them with other prop firms.

I, on the other hand, use a different strategy.  Both strategies seem to work.

Alan,

[Marin Stoyanov]

Dear traders,

We are excited to announce several important enhancements that we’ve added to the FTMO Robot. Our latest update, live in the FTMO App since yesterday, introduces advanced protections and input options designed to further safeguard your trading activities.

Here’s What’s New:

1. Enhanced Maximum Daily Loss (Currency): This familiar feature now comes with an added functionality – it resets at a specific hour every day, giving you more control over your daily trading limits.
2. Maximum Daily Drawdown %: We’ve introduced an equity drawdown protection that monitors and limits your daily drawdown in percentage terms, helping to better manage risk.
3. Daily Reset Hour (Terminal): This new input allows you to set the exact time when the Daily Loss and Drawdown protections reset, aligning them with your trading strategy and schedule.
4. Maximum Equity Drawdown %: To further secure your investment, we’ve implemented a feature that limits the maximum equity drawdown, reducing potential losses from unforeseen market movements.

Important: When any of these protection mechanisms is activated, the Robot will close all current positions and turn off automatically. This is to ensure your trading stays within the boundaries of your defined risk parameters.

Please visit the FTMO Robot App to update your Robot with these new features. It’s crucial to stay updated for optimal performance and enhanced protection.

Kind regards,

Marin @ Tech Support team

[Luce]

Hello,

this week i will disable the livetrading for an certain pair.

But this pair still has a trade open with a takeprofit and a stoploss.

This should not make any problems, correct?

 

BR Luce

[Alan Northam]

Hi Luce,

The open trade will continue to trade even through you disable or remove the robot from the chart.

Alan,

[Author]

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