Prop Firm Robots: Suggestions and Ideas

[Petko Aleksandrov]

Hey traders,

Many of you have been trading the FTMO robot since I created the very first version. Based on your feedback, emails, replaies in the Forum I greatly improved it! Thank you for that!

So in this Forum Topic, I would be happy to hear more suggestions and ideas.

So far, what I have collected from e-mails and replies in the Forum is as follows:

• Take Profit for the Account (close all trades and stop trading if the challenge target is reached)
• Use on different currency pairs
• Set files for the lot size of the different accounts

Looking forward to your ideas!

[Brian Watson]

is there a way add automatic    Trailing Stop to each trade after the trade is in profit

[Petko Aleksandrov]

That is a good idea! I will check the possibilities and if that will bring better or worse results.

[Marin Stoyanov]

Hi Petko,

I have an idea, instead of using lot sizes, would it be possible to change it so you have the following options:
— Risk Mode: Percent or Lot Size

Percent: Based on the account size, automatically calculate the position so it will use X% of the account’s equity (This would allow compounding)
Lot Size: The setting we have now to manually set the specific lot size.

Kind regards

[Alan Northam]

EAs usually work best when they are updated once every month or two.    It is easy to adjust the lot size at these times.

[Petko Aleksandrov]

Also, if you use % and not lots, it’s hard to compare a few EAs in the account. And this is what we do – we trade many EAs and we trade them with the same lot so we can see which ones are the top performers.

[0xBitpool]

Once we get funded with FTMO, we’re not allowed to keep the trades opened overnight.

I imagine this is the reason why we have the “Entry time” settings in the EA

I have 2 questions:

1) Should we change these settings based on FTMO timezone? (in case they use different timezones depending on your region for example)

2) I’m not sure I understand correctly “keep the trades overnight”. I understand we have to close them before the night. Are these settings covering this case? Or is it just for the entry time but not the exit?

[0xBitpool]

Here is the link to FTMO FAQ for this: https://ftmo.com/en/faq/do-i-have-to-close-my-positions-overnight/

[aaronpriest]

This would only apply to weekends for Forex pairs because overnight rollover is minutes and not 2hrs, however for indices it might be nightly, I’m not sure. I use the swing account with FTMO for just this reason so I don’t have to worry about closing for news or weekends.

[0xBitpool]

Yes I was thinking of trying the challenge for a swing account for the extra safety. I must admit not looking for the news is a big plus.

A 1:30 leverage should be fine but if the robot is able to address the overnight / weekend stuff, I’d be happy to keep an eye on the important news to get access to a 1:100 leverage

 

This raises another question: does the calculation of the min position changes if the leverage is 1:30? As it’s less risky, one would maybe be tempted to multiply the lot size by 3 😏

[Dygon Linux]

Please help me to have the best setup for the 80000€ challenge and the 10000€. I want to have all Ea that works in the challenges.Thank you very much!!

[Alan Northam]

Hi Dygon,

For the 80000 euro challenge set the EA properties as follows. This will limit risk to 1%.

Amount for a new lot = 2.4
Maximum position amount = 2.4
Amount to add on addition = 0.0
Amount to close on reduction = 0.0

For the 10000 euro challenge set the EA properties as follows. This will limit risk to 1%.

Amount for a new lot = 0.3
Maximum position amount = 0.3
Amount to add on addition = 0.0
Amount to close on reduction = 0.0

To determine which EAs are working the best in the current trading environment add all EAs to a demo account and watch them for one to two weeks. Then pick the EAs performing the best and add to your FTMO challenge.

[dusktrader]

Hello, just a wishlist item… in a future update to this bot, can you offer an option to base the risk on % of equity? That way over time it will take advantage of compounding in the account.

So, for example, I’d like to be able to enter 1% as the equity risk, and the bot would calculate this dynamic for each trade.

Thank you for considering!

[dusktrader]

Hello, can you please give your thoughts on trading through holidays and/or month of December?  I noticed one of Petko’s videos was demonstrating a bot in Dec 2022 I think.

Have you by chance been able to backtest this through holiday/December months?

I’ve been advised that manual trading is a bad idea in December, but I’m curious your thoughts. Also, maybe this doesn’t apply to bots in general.

Thanks

[dusktrader]

Ahh! I see Petko already answered this question. Just watched this video: https://www.youtube.com/watch?v=QCNWanYW9Do

Spoiler: he doesn’t risk real money during December for manual or bot trading (at least per this video)

[Author]

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