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Petko was testing a new EA and it happened to be December when the new EA was created so he tested it during December. All newly created EAs should always be tested using a demo account. This is why he used a demo account during December. It was not about not risking real money during December it was about testing a new EA using a demo account before deciding to move the EA to a live account.
Alan,
Hi,
I’m about to start a 100K challenge now
My question is can I use multiple profitable FTMO robots in the same account. I had 3 forex pairs with nice profits and I’m considering whether to trade with the three robots or with one of them each time.Thanks.
Eric
Hey Eric,
Yes, you can. You can use as many as you’re comfortable using, based on the criteria who select (profitable trades, profit factor, etc.). Just make sure you adjust the entry lots and risk settings to match the account size and number of EAs, so you don’t risk too much.
Cheers,
Ilan
I haven’t purchased the FTMO Bot yet but how about this approach?
Start off with all 8. Lower the lots accordingly. Divide 1% by 8.
Then monitor the performance. After you have a pair that has losses after 5 trades remove it.
Now let’s say you remove 2. Now adjust your lots to accommodate those removals.
This will let you stay low risk but instead of just using the top performers you slowly remove the losers just like what
is taught in the courses but on a smaller scale instead. Thoughts? Has anyone tried this?
Hi Brian,
Good to see you are thinging about risk management. This is a good low risk approach. Good idea! Keep thinking about ways to manage your account. Good to see you are thinking individually instead of just following others advise. This is the way to learn and to become a successful trader.
Alan,
I have an Deposit of 10k on an demo account and the balance is currently at 10.148,13
That should be a gain of 1,48%. But MyFxBook shows a gain of 0,41%:
does somebody now why?
+1 On this, I wanted to ask for this exactly. Some of the trades in V5 was nicely in profit, I was using AUDUSD, they did not hit TP and reversed to close in negative. So a trailing stop would be awesome.
Its already set to show all history,
But even if it would not be like that, in MyFXBook it should still diplay everything.
I suggest that you keep the 8 bots running inhouse and share the details for my fxbook with us so we can check for the top 3 profitable for the last 5 days I got a VPS for 15usd per month and the resources are already full with just running the test bot on 8 charts I don’t think it can handle another mt5 account to trade the top 3…. This will really help us a lot to cut costs on a VPS. Ram is already at 90% and CPU usage at 60% to 80%
With the new Version 5 we have included set files that risk exactly 1% from the Account size.
However, I guess you request is to use % instead of Lots, which is something we have been considering.
We will also leave that topic so nay other ideas how to improve the FTMO Robot will be taken into consideration!
How To Trade the FTMO Robots
===========================Petko does not recommend trading all 8 robots in an FTMO Challenge. He recommends trading just 1 to 3 robots.
To determine which robots to trade in an FTMO Challenge the robots should be tested in the FTMO Free demo account for a minimum of one to two weeks.
After testing the robots in a Free FTMO demo account the demo account should be linked to FXblue or MyFxbook. You will then be able to review the most profitable robots. You can then select the top 1 to 3 top robots with a minimum of 3 to 5 closed trades. If none of the top 3 robots have closed at least 3 to 5 trades continue testing.
Once you have determined the top 1 to 3 robots you can now add them to an FTMO Challenge.
Continue to monitor all 8 robots in the Free FTMO demo account on a weekly basis with FXblue or MyFxbook. If different robots become the top 1 to 3 performers move these to your FTMO Challenge and replace the old robots with the new ones. Once the 14 day Free FTMO demo account has expired, create a new one, and link to FXblue or MyFxbook. Continue monitoring the robots on a weekly basis to continue updating the FTMO Challenge with the newer 1 to 3 top performers.
Note1: It is not recommended to trade all 8 robots in an FTMO Challenge at one time. The reason for this is they will all generate profits at different times. The strategy is to determine which of the 8 robots are currently in profit and trade those in the FTMO Challenge while the robots that are performing poorly are kept in the demo account.
Note2: Each robot has an account risk of 1%. Trading 3 robots will result in an account risk of 3%. It is not recommended to allow an account risk of more than 3%.
Note3: While it is not recommended to trade more than 3 robots in the FTMO Challenge at the same time if you chose to trade more than 3 robots in an FTMO Challenge then the lot size of each robot should be reduced to keep the account risk at a maximum of 3%.
I also suggest the review Petko’s video on how to install and trade the FTMO v5.1 robots:
https://community.algotradingspace.com/forums/topic/is-the-robot-available-for-multiple-funded-accounts/#post-219126Alan,
I would like to request to add 3 or more pairs so we always have something to choose from specially on slow months like this.
Great! And I have something more to add: If the traders follow these instructions, THEY WILL NOT FAIL A CHALLENGE. So far I never lost a challenge if I was trading the Top 1 Expert Advisor out of the 8. It might take longer to pass, but it won’t fail!
And so far, we don’t have a trader who reported or shared stats of losing a challenge if one was trading, just the Top 1 CURRENT winner. Most traders that failed just placed all of them on a challenge and did not follow the instructions.
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