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Hi Daniel,
The “Maximum Daily Loss”, located in the Expert Advisors properties box, is a trailing stop!
The problem with trailing stops if they are set too close to the price action the following can occur:
Petko has been trading Expert Advisors for many years and has tested many strategies. He has determined that over many trades, not just the one or two discussed recently in the forum, it is more profitable not to use trailing stops. The reason for this is when an Expert Advisor goes through a period of draw down and is closed by the trailing stop the trade does not have the opportunity to continue higher and close out with a profit. It is true once in awhile the trailing stop can keep a trade from closing with a loss but over many trades it is still more profitable not to use trailing stops.
It is also possible to setup a trailing stop on your own. All you need to do is right click on the stop loss dotted line on the trading chart and select Trailing Stop. You can then select the number of points you want to use as a trailing stop. The trailing stop will then start changing at the beginning of each new price bar / candle.
Alan,
Alan,
Hello everyone.
I have a recent situation, which appeared 20 minutes ago, at 16.45 (my time is GMT+2).
All 8 V6 version robots have closed and disappeared from the charts (they are on VPS). All trades were closed automatically. V5 version robots works normally.
I have several other robots that run on the same account, but on different charts, which run without problems.
Has anyone else experienced this?
What could be the cause?Hi gabiscriba,
When all 8 Expert Advisors close at the same time it suggests the Minimum Equity price level found in the properties box was triggered keeping your account from being closed by FTMO.
Alan,
Hello,
thank you for your responses and opinions on the topics.
Regarding this matter, I contacted support ([email protected]) a week ago and haven’t received a response…
Unfortunately, I am deeply dissatisfied with the FTMO Robot and would like to request a refund within my 30 days. Even after extensive testing, I am still far from having a positive balance in my account.
Thank You,
Max
I have had the same results as you since the date I bought it and I still continue trying it and putting it in different accounts.
HI Max,
I have also been testing the FTMO V6.0 robots since 1/7/2024. The following is a profit chart of the three robots I chose. Since each robot has a different lot size I have chosen to show the profit chart using pips. The following chart shows the accumulated pips of the three robots I chose to analyze. This week I actually started trading these three robots.
The chart shows an accoumulation of 300 pips. The 3 robots I chose has a combined lot size of 1.25 lot (1 lot equals $8 per pip on averge) among the 3 robots calculates to be a profit of $3000 far this month. Although the robots do not trade very often over the longer period they generated a nice profit this month. Since I just started trading the 3 robots I chose I will wait until the end of February to see the profit generated.
Alan,
P.S. I have let the support team know you are asking for a refund!
Hi Alan,
Thanks for your time and your responses. Unfortunately, it doesn’t look the same for me. As Petko always says, I pick the top 3 performers of the week every week, but I feel like the EAs are not profitable in the following week.
I also understand the point about not using the trailing stops, but I believe it could still be a good alternative to make the EA less risky. Maybe such an option will be added to the Risk Settings at some point.
I appreciate you directing me to support and hope to receive a prompt response there. I still believe that the FTMO robot can be profitable in the long run, but the current version is not suitable for my needs.
Thanks
Hello to all, I hope you have a good day,
This is the process I have been going through for the past 3 weeks :
I implemented and activated all the robots on a $75,000 account from Alpari broker,
After a week, I implemented and activated 4 of the best on a $75,000 account from the FXCM broker,
But in the third week, I implemented and activated 3 of the best on a new $75,000 account from FXCM broker,
During these 3 weeks, I patiently followed the process and tested them on two different brokers with three $75000 demo accounts,
But today I came to the conclusion that robots will not be useful and profitable for me,
The results of all tests were unacceptable and all 3 accounts are negative now,
With all due respect and thanks for Trading Academy support team, robots are not suitable and profitable for me and I want to be allowed to use my refund right,Thanks,
Hooman
Hello,
I am very disappointed to see the robots performing so poorly. I tried to follow the strategy of trading just the top 3 performers but I am starting to think that the strategy to use the top performers from the last week or any other time period is actually useless. Their performance seems completely random and when I start using the robots after 1 week of good performance those that performed well, suddenly don’t do well anymore and those that weren’t doing well are showing profits in the app all of a sudden…. Its like I am always chasing the well performing robots but can never catch up to them.
Also, XAUUSD right now is showing a profit of 159usd for yesterday in the app. How is this possible?? I am using the FTMO server and my XAUUSD trade is in -107 usd. How can this be? How can this be?!
USDCHF was performing very poorly as well while it was on the 30minute timeframe. It was changed to 15minute and the backtests in the app showed it as the top performer so I put it on the charts. It got me 2 losses right away. Always one step behind. Is anybody actually passing challenges??? Please if you are passing challenges tell me how. I was already thinking to use the robots that performed poorly in the past week because maybe then it will perform well in the upcoming period, at least thats what I have experienced so far.
Sorry for the negativity but I am just loosing hope with these robots.
Hi Bence,
This can happen when the time period is too short. Maybe try using the monthly FTMO app robots and demo test them for a month to see if you get better results.
Alan,
hey to your concerns no i haven’t passed a challenge yet and i’m in drawdown too but as you mentioned usdchf being the top performer i don’t think it was when it was added i waited a week and it changed and also the best performers for this week was from the last weeks data was audusd usdcad and euraud both euraud and usdcad was the very top performers but they still lost now as far i know if you are trading three robots together take the best three performing robots and set them like for this week to end you have to wait till friday and see the results and then select your robots that’s how petko showed and
hey as far as i know you should see the weekly results and choose the top performers every end of that week right?
Hi Alan,
I’m a little confused as to what exactly are you referring to. Shouldn’t the robot app be showing which robots have performed well, eliminating the need for me to manually backtest myself?
As for XAUUSD, how can the robot app show profits for the day, yet I am in a drawdown? I am using the FTMO server so I should have the same results. Right now my XAUUSD trade is sitting at -161 while the app shows +71. How can that be if we are both using the FTMO servers?
Hi Tanyeem,
Thanks for your response. Yes, that is exactly how I use the robots too. I check the past week’s 3 best performers and use them but they don’t do well after I put them on the charts.
On the other hand, the ones which were loosing the past week, are getting some profitable trades, but I only see that from the app since I am not using those as they were performing poorly the week before.
What are you suggesting?
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