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Then what % are you recommending? If 1% doesnt work then how much should i use?
i tot the setfile suppose to be the best set up for the pair.
btw usdchf already hit sl, eurusd auto reversed
With 8 EAs all set at 1% (which is recommended in the settings file) your total risk is 1% if all 8 EAs hit SL. This would cause you to fail the max daily loss of 5% and you would lose your account. It is rare for all 8 EAs hit SL on the same day but it could happen. So, in my opinion I would want to prevent this from occurring. If it were me I would set the lot size to 1/2 the size shown in the set file. This would limit the maximum daily loss to 4% so the account would not fail the daily maximum loss requirement of 5%.
The set file lot sizes are the lot sizes Petko used to pass the FTMO challenge. The lot size in the set file will help to pass the FTMO challenge in a minimum of time. However, the set file lot sizes are quite risky. To pass the challenge in the shortest period of time requires taking added risk. So if you use the lot sizes as shown in the set files then if you blow the account you have to start a new challenge until you pass.
An alternate approach is to reduce risk and take longer to pass the challenge.
It is up to each trader to set the lot size of any robot to the risk level the trader is willing to accept.
Alan,
My FTMO robot is not doing good at all here you can see.
https://trader.ftmo.com/metrix?share=4e3d21de5fac&lang=en
Hello Petko and fellow support staff,
I am one of your customers and purchase many of the EAs from Udemy… and I am keen to get the lifetime monthly updates, before I get this, I have some questions for Team Petko…
1 – I have watched videos on how Petko showed us how to test all 8 EAs on the FTMO Trial or Demo account to see which EAs outperform the rest and then bring the best ones onto the live FTMO challenge, my question if I were to use the FTMO trial which is only 14 days, is it enough to sieve out the best outperforming EA?
2 – If I were to use the FXView broker Demo account, how long should I test the 8 EAs before knowing which EA is the one for the live challenge account?
3 – Since I am using FXView to test the 8 EAs, and once I bring the best-performing EAs to the live FTMO challenge, with a difference in spreads & commission between FXView and FTMO, will the forward testing results be valid enough for me to use it on a live FTMO challenge?
That’s all for now.
Thank you.
Eddy
Answer to question 1) Petko uses one week to determine top performers so a 14 day free trial would be sufficient. I prefer to demo test for one month to determine top performers. In this case you can use two 14 day free trials.
Answer to question 2) Same answer as above.
Answer to question 3) When the EAs are created they are tested for various spreads. However, the historical data between various brokers and prop firms will be different. Commission variation will result in profit variations. The performance of an EA will be different when used with various brokers and prop firms. My recommendation is to test the EA on the same broker or prop firm you plan to use for live trading.
Alan,
hi im very happy with FTMO ROBOTS from 1 week im 4 % + in my account / i put top 3 robots on chalange
Hello Alan,
Thank you for your prompt reply.
I have this question…
For your reply to my 3rd question… not all prop firms have trial, and I know most prop firms use Eightcap as their broker.. I do have account with them, but exhausted a lot of their demo account which they does not allow me to create more demo accounts unless I deposit at least $500 into a real account before letting me get more demo accounts, for this problem I am facing, what suggestions do you have for me to test all 8 EAs on a broker before going live with a prop firm, not just with FTMO?
Thank you.
I like to use Dukascopy as their historical data does not have any gaps in the candles or missing candles! It is a premium historical data. It is also what EA Studio uses for historical data.
FYI – What I do when trading with prop firms that does not have a demo account I will open a live account and use it to test my EAs. I then set the lot size to 0.01 lots so that the testing of EAs doesn’t change the account balance too much. I’m not suggesting this for you I am just sharing how I handle such circumstances just for your information :o)
Alan,
Oh, this is a good idea to create a small live account on a broker that most prop firms uses which in most cases is Eightcap.com… I will see if I can create a US$100 small live account and test the 8 EAs with 0.01 micro lot for collecting the data to see which EAs are the top performers.
I will also create a Demo account with Dukascopy to test the 8 EAs too, and will also sign up to another FTMO trial to test these 8 EAs as well.
Thank you.
Hello Alan,
Please see if this is viable on test these 8 EAs…
I will deposit a $100 live account with Eightcap, and also create a $25K demo account with them to test these 8 EAs for 1 month to identify which one is the top-performing ones before I put it on a live challenge with Blueguardian prop firm instead with FTMO due to their trading rules which are quite strict as compared to Blueguardian
I will also sign up to FTMO trial to test these 8 EAs.
Thank you.
Eddy
Yes this is a good idea. Please be mindful however that there will be some difference between the performance of Eightcap and Blueguardian as their historical data will be somewhat different. As an example, the top 3 EAs in Eightcap might only be the top 2 in Blueguardian, or you might see 5 trades in Eightcap but 6 trades in Blueguardian over the same period of time. You really cannot tell what the differences will be but I just want you to be aware the performance could be somewhat different but don’t let this deter you from what you want to do. Remember, nothing is guaranteed in trading we can only see possibilities. Be consistent and over time you will be profitable.
Alan,
Hello All
I thought I would share my testing data. I sincerely hope Petko and team gets that VPS ip and running VERY soon for us users to get the top performers from them directly.
In the meantime, I have been running this testing account since 20 November. Here’s my current results:
I also have a previous test run that I ran before this one that ran from 09 November to the 20th of November, here’s the results for that one:
Hope this helps some people.
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