FTMO Robot: V4.3: What’s new?

[Kris]

@letsrockit: Thanks for your reply!
Indeed it does. I’m working with the EURAUD, but here it’s more like ratio 2:1 instead of 1:2, so I was just wondering if the scaling from the FTMO course only applies to EURUSD. If so, it would seem that EURUSD might be the better pair to trade.

[letsrockit]

I hope they are all good (My wish)
Will see after several trades and market conditions which pair(s) are good to go.

Will keep you update

[John Noland]

Thanks for the reply and always being so willing to help.

How about a discount code for your Udemy students, seems loyalty should be rewarded..(-:
Something like 10% off for every 3 Udemy courses purchased. It would be easy to do and be great customer service and marketing…(-:

[John Noland]

Thanks for the reply and always being so willing to help.

How about a discount code for your students for the Multiple asset FTMO EA?
Seems loyalty should be rewarded..(-:
Something like 10% off for every 3 courses purchased. It would be easy to do and be great customer service and marketing…(-:

[Petko Aleksandrov]

Hey Kris,

Glad to hear from you. In the course, I showed scaling with the EURUSD EA, which uses SL of 30 and TP of 60.

Now when the EA trades on multiple currencies, they all use different SL and TP.

However, if you want to use the scaling with 1:2 you can set SL of 30 and TP of 60 to any of the EA. It will have a worse backtest but it will be easier for you to manage it.

 

 

[Petko Aleksandrov]

Yes, the SL and the TP are different for every EA. However, if you use the Scaling up, you better use the same SL and TP (30 and 60) so it will be easier to handle it.

After the EA is made to trade on a few pairs, I prefer to test them all and keep the best one on my challenge.  Check this video if you have missed it yesterday.

[Petko Aleksandrov]

Hey John,

Glad to hear from you. We optimized the prices at the lowest price possible. That is why we do not offer any extra coupons.

In fact, the price will increase in the following months because we have many students and traders joining, and we can’t handle the support. We prefer to have fewer students but be able to answer all questions.

[Petrbrazdil]

First week with FTMO EA.

I would like to share my first impressions and experiences with the FTMO robot. I tested all 7 pairs and here are the results.

I tested NZDJPY on FTMO free trial.

I am attaching the account statement. And a summary of individual pairs.

EURUSD – Total 5 trade

– Profit 210 dolar ( 1 Trade )

– Loss -1169  dolar ( 4 trade )

– Total Loss -959 dolar

 

AUDNZD – Total 9 trade

– Profit 167,45 dolar ( 4 Trade )

– Loss -676,36 dolar ( 5 Trade )

– Total -508,91 dolar

 

GBPAUD – Total 15 trade

– Profit 1820,5 dolar ( 9 Trade )

– Loss -1475,6 dolar ( 6 Trade )

– Total +344,9 dolar

 

GBPCAD – Total 7 Trade

– Profit 789,29 dolar ( 4 Trade )

– Loss -1577,67 dolar ( 3 Trade )

– Total -788,38 dolar

 

EURCAD – Total 14 trade

– Profit 1137,87 dolar ( 7 Trade )

– Loss -1522,24 dolar ( 7 Trade )

– Total -384,37 dolar

 

EURAUD – Total 14 trade

– Profit 1272,67 dolar ( 8 Trade )

– Loss -1567,66 dolar ( 6 Trade )

– Total -294,99 dolar

 

EURNZD – Total 15 trade

– Profit 1663,12 dolar ( 9 Trade )

– Loss -1776,04 dolar ( 6 Trade )

– Total -112,92 dolar

 

I know it’s a statistic for the first week only. But already during the first week it can be seen that a larger SL than TP will be a problem. The losses compared to the profit are noticeably larger.

Today I will try to change the basic parameters like BE, SL, TP and martingale. I’ll see what it does in the back test.

 

NZDJPY testing results

– Total 19 trade

– Profit 6944,07 dolar ( 15 Trade )

– Loss -1256,07 dolar ( 4 Trade )

– Total +5688 dolar

[Alan Northam]

Good to hear you are backtesting the FTMO strategies.  To get a good idea how the EA’s will perform over the long term requires a long term backtest.  To get a good idea how the EA’s will perform backtesting should be over a period of at least one month.  I have been backtesting the FTMO EURUSD strategy over the month of August.  To do this I used the free FTMO demo account twice for a total of 30 days of testing.  The results I get is that the EA has produced a profit of 3.78% for the month.  Doing some quick math says that I should hit the 10% price target in approximately 2.5 months.  I will continue my testing.

The reason for sharing my results is that I noticed over your one week backtesting you showed EURUSD as a losing strategy.   Whereas my backtesting over the last month shows a nice profit.  The FTMO strategies were created to be profitable over the longer term and my results vs your results shows that the longer term backtesting will produce profitable results as the EA’s were created to do.

Reference:  https://community.algotradingspace.com/forums/topic/ftmo-demo/

[Petrbrazdil]

Hi Alan.

I understand what you mean. I know it’s a short time. I was just surprised that in a week so many strategies show a loss. I’m also a little scared of the RRR, which for some strategies is not even 1:1.

Now I’m doing a backtest in MT4. I want to choose the best max 3 strategies and try them on one demo account.
For the GBPAUD pair, I was able to increase the profit factor from 1.5 to 1.68 with a minor adjustment. It’s not much, but hopefully it will be good. I would like to do such tests regularly.

My point is that I would like to find some combination that would be successful for trading with propfirms. Unfortunately, I don’t have the time or the psyche to do manual trading.

[Petrbrazdil]

 

I did this with GBPAUD

 

[Alan Northam]

I just wanted to share some thoughts about RRR.

Books written for the retail trader will say the RRR should be 2:1 or even 3:1.  However, it is a known fact that the approximately 80 – 90% of retail traders lose all there capital within the first year of trading.  So having a 3:1 RRR doesn’t help any.  Here is what often happens:  The market will go through a drawdown that stops out the trade, then the market will resume moving in the direction of the trend and the trader loses out on the profit from the market moving in the direction of the trend because the trade was stopped out during the drawdown.

On the other hand, the EA’s created by FSBpro are backtested to show a profit even though the RRR may be less than one to one.  Here is what often happens:  The market will go through a drawdown, but because the SL is set further apart from the price the trade was entered at, the trade doesn’t get stopped out.  Then when the trend resumes the trader is still in the trend and the trade and because of the RRR being less than one to one the trade hits the TP sooner and the trader walks away with a win.

As a result, it is shown that having a RRR greater than one to one can hurt the trade, whereas a RRR less than one to one can help the trade.

So, I would not be concerned about the RRR.

I understand that coming from the retail trader world it can be difficult to start trusting a RRR less than one, but the reality is a RRR less than one can provide a better trade.

Also to protect your account the EA’s have a protection in that if the account loses 4.9% of the original account balance it will stop trading.

[Kris]

@Petko: What do you do if the prop firm does not have Demo accounts? Like “trueforexfunds” which has a lower entry price and easier qualification?

[Petko Aleksandrov]

You can use the FTMO Trial. It is the same market. Conditions are a bit different with every server, but at the end, you will see which EA performs the best.

[Rulison Archer]

How often are you changing the active EA on the live accounts? I have only had it going for 1 week and have seen 2 of the pairs towering over the others. In your experience, are you changing daily, or even weekly?

[Author]

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