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Hey guys hope you are well. There are a few traders here that have passed but havent seen much results or trades or settings etc.
I also have tried many times to reach out to EATA for some guidance with settings for the EAs that actually passed as per Petko’s videos, as indeed they are promising. However, ach trader is very different in many ways and a simple default guide on settings would be nice not as a manual but mostly as a hands on experience tips on what they used and worked for them (which pairs, how many, did they use spread limit and if so what, any special settings for news, did they change any indicators settings, or SL/TP, is there a trailing feature hard coded to some of the EAs and if so which of them and is that adjustable – i had USDJPY and EURBGP if i remember correctly modifying open positions moving SL and didnt know what was going on).
There is some DD lately after “America was great again”… especially with high volatility pairs. But not sure if the EAs are better optimised so far, as maybe new pairs need to be added to move away from USD as much as possible for the next couple weeks (humble opinion). And to be fair all DD is absolutely normal and expected in trading. It is how we manage it that makes a difference.
Personally i have rmeoved all the EAs from my challenges to a demo 50k for stress testing, as they were hitting SL one after thee other, and optimised my settings on the Prop App to produce EAs based on profit factor and selected those with either the lowest DD or the most smooth equity/balance progression i could find or both (rare). As you can see in the graphs of the EAs in the App, any drops above 500$-1000$ can potentially be dangerous even at 1% risk. And this is because, in order to increase the number of trades and move the challenges faster (which should be the goal) we were told to choose the 5 best performers to trade with. The 1% risk of each trade each EA might open even if it is not at the same time, during the day will end up risking more than 1%. For example, as we speak i have a XAGUSD opened an hour ago at DD of -207 (went about -260 at some point) and while waiting on that a USDJPY opened and is in DD as well by -39. Now, i know that for 50k we should be ok up to 2500 daily (although this is not meant to be hit). Which means, that if the rest of the 3 pairs open more trades while the open ones go deeper in DD then the chances to hit EP increase. And yes we wont lose the account, but we would then need to trust the same process all over to get us from 47500 to 55000 which now transformed our 10% target of 5000 to 15% of 7500…and that’s when hopefully all the trades until then are winners and the same DD wont happen again. Which means in order to be able to recover we would need either to close any big loosing trades sooner or decide and calculate 1-3 max EAs on our set up as this should be safer. See, it might go slower but you wont get slap after slap after slap. And all the slaps will not be as loud.
It would very much help if we had faster and more frequent responses from EATA support and/or Petko directly in a channel or group, where all the traders could exchange ideas and settings so we can help each other. It would also be amazing if we had free additional indication monitoring tools to check the trend and bias on each chart so we can have a better understanding on how to intervene if we need to. It would also be amazing if we had further criteria in the Prop App when selecting the EAs such as which EA actually passed which size challenge, which settings where used and how long did it take as brief profile update on each EA.
Finally to be 100% fair and transparent, i have bought the yearly subscription of the FTMO Prop EAs and i know these strategies work and can bring results as seen in Petkos videos. So i have plenty of time to test their behaviour and set ups before i put them on a challenge again. I trust the process and the settings as generated and leave all of them as is. The only things i tweak a bit is the lot size, or spread, and maybe the account protection (daily loss, max equity, etc). However it would be great help if we had access to look the settings of successful fellow traders that passed and had maybe pay outs as well or even better Petkos full settings parameters.
So not giving up, rather taking a step back to see the bigger picture and try different things before i risk accounts again.
Apologies for the long comment :-).
Cheers, K.
Sorry, but I don’t agree and I’ll show you why…
So why does the profit change but not the DD?
If I do 3 backtests with 3 different risks I will have 3 different DD and 3 different profit values.
I attach a screenshot with backtests done on USDJPY by downloading exactly your files without modifying anything.Please explain to me why in the backtests both profit and loss change, while in the table of your dashboard they do not.
Thanks
Hello Konstantino,
Thank you for your detailed responce you have made some very valid points that I agree with.
Like you its the JYP pairs that have hit me the hardest, I have removed JYP EAs from my trading account.
Ill send an email to support maybe we can get a responce from support.
Regards
Bob
Something is wrong, as my account this week has almost been wiped out! Thanks for sharing Cristian …
Looking forward to hearing the responce !!!
Hi! I’m noticing in the Prop Firms Robot App the Drawdown does not change when you change the Risk Level between Low, Medium and High. What level of risk is used for the drawdown calculation, so that I can adjust accordingly?
Same here!
I am using the prop firm robots app since more than 3 months.
My best aproach was to use the 3-5 best performing robots per Week (e.g. FX only).
This went really well for a couple of months and I also passed the first phases of prop firms.
Here’s the catch: Since 2 Weeks there are massive draw downs and no profits..
Is there anything broken with the app ?
Best,
Sandor
Hi everyone,
I am using the prop firm robots app since more than 3 months.
My best aproach was to use the 3-5 best performing robots per Week (e.g. FX only) and exchange them on a daily basis if they had 2 consequtive losses.
This went really well for the past months and I also passed the first phases of prop firms (5%ers and FTMO).
Here’s the catch: Since 2 Weeks there are massive draw downs and no profits.. I am about the loose my accounts.
Is there anything broken with the app ?
Best,
Sandor
Hi, I already replied to this here.
Hello Ilan, I have purchased your service with prop firm robots. Unfortunately I am not getting them to work properly. Is there a checklist on how to get them started correctly on MT4 and MT5? Best regards Eric
Hi @Flyhigh430, there are video guides that you can access on the order confirmation page and from the order confirmation email. Also on the top right section of the app (where’s the YouTube icon), you can follow the link to watch the video guides as well. You can read this article which covers the process as well.
Let us know if there is something unclear so me or Ilan can elaborate on this.
Thank you Marin for quick and precise feedback. Still one question; in the graphics displayed on the chart; the bot presents number of open trades and closed trades etc. It also shows This Weeks Trades and This Month Trades. Only on BTCUSD-bot this gives information on the time (weeks months) prior to my usage. Should the other bots also present this? The other bots are not presenting information from how the bot performed prior to my usage, does it mean the bot is not fully implemented/functioning?
Eric
The graphics show the backtest of each strategy for the selected period – 1 Day, 1 Week, 1 Month, 1 Year or 5 Year. This works the same way as the backtest in MetaTrader and updates every 30 minutes. If you’re looking at a shorter period, e.g. 1 Day, it’s very likely that there are not trades from some strategies.
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