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Hi eliav dror,
Your answer to your question about not hitting 5% can be found in the following link:
https://community.algotradingspace.com/forums/topic/how-to-trade-the-ftmo-v5-1-robots/#post-219413
The answer to your question about 1:2 rr is that the robots are created to trade profitably the majority of the time with the RR set for each robot. To change this value to a 1:2 rr would result in the robots losing the majority of times. Why is this? This is because sometimes the robots will move against the trade for a short period of time before becoming profitable. So if the stop loss was set to close to the opening price the trade could be closed with a loss before it had a chance to move into profitability. The robots are therefore created for best performance.
Alan,
Hey, I am confused about something. for this week I took three robots for 3currencies. Now as this is my first week trading a challenge account, I divided 1% risk of the account within the three best performing robots making it 0.3% risk each and reduced the lot sizes. Is this the right way? If not, what should I do my account size is 50k.
Hi Tanyeemgazi,
When taking the FTMO Challenge you need to keep your account from losing more than 5% of your account balance in one day. To do this you need to set the risk of each robot you are trading so this does not occur. It is recommended to keep the total account balance risk below 3%. So, if you are trading 3 robots then each robot can be set to have a risk of 1%. To do this you need to set the lot size properly. Since you are using just 3 robots you can set each robot to the lot size recommended in the setfiles.
By dividing the lot size by three for each robot you have limited your daily account loss to 1%. This is fine, however it will take much longer to pass then challenge.
Here is the thing about passing the challenge. The larger the risk the sooner you could possibly pass the challenge, however the risk is increased of failing the maximum daily drawdown of 5% or falling below the total account loss of 10%. The lower the risk the longer it will take to pass the challenge but the risk of losing your account is lowered. Each trader must decide how much risk to take as each traders risk tolerance is different.
Alan,
Hi Alan.
I have a big request, which will definitely be helpful to all users of this robot.
You will definitely test these 8 robots permanently and you always know which is the top of the robots that perform the best.
Please post this ranking periodically, it would help us a lot.
Especially when this ranking changes.
We thank you a lot.
For example, the ranking after my tests is EURAUD, USDCHF, XAUUSD.
I don’t know if the other users have the same ranking.
I started using these 3 robots, with the mention that EURAUD opens very few trades.I think it is the best. You know how to test robots the most correctly. Many of us do not know or fail to test them correctly.
My question is: how anybody would test better than you?
I think many would appreciate this help. Of course, if you want to offer it.Perché quando si avvia il bot non vedo alcun indicatore sul grafico? Non ce nemmeno l’intup true or false
So, the safest and low risk strategy is to use the Top 1 from 8 EAs to pass FTMO. It would of course take longer. For step 1 of the challenge where are suppose to get 10% of the profit, any idea roughly how long will it take to achieve it ? 1 month, 2 months or 3 months? For a newbie, with the Top1 EA , shall I stick to a $25k challenge or can go for $100k , I don’t really care if it takes longer to beat Step 1 challenge. My priority is to be on safe side first and then gradually start doing medium risk trading after passing the challenge.
Also, Can we just use EA for FTMO with the given set file without changing any parameters in it?
Thanks
The lowest risk is to use the Top 1 EA. As to how long it will take to pass the challenge depends upon the volatility of the market. There are certain days, weeks, and months that are more volatile than others.
For a newbie, I would recommend using a 10K challenge. This way if you fail the challenge you can use the same money you would have used on the 25K or 100K challenge to try the 10K over again until you pass then challenge. Then once you pass the challenge you can use profits from it to use higher level challenges.
Alan,
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