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You must keep your computer running from Monday through Friday. If you close your computer MT5 will stop working so any open trades will not close if TP or SL is hit. If you cannot keep your computer running then you would need to have a VPS.
Alan,
Hi Nicholas,
Answer to question 1) The EA’s are the same. They are coded differently as MT4 and MT5 have different languages. So yes you can use MT5 for testing and then MT4 for live trading. However, be aware of one thing: If MT5 is on a different broker or different prop firm than MT4 then there could be some difference as each broker or prop firm will have somewhat different histortical data.
Answer to question 2) One week or two weeks is not sufficient backtest to see how the EA will perform over the long term as during such short periods of time the market could be trending without any significant retrace or drawdown. During longer periods of time such as one month or longer then the market is more likely to have some small retraces and even a drawdown. If you are going to run your EA for a month or longer than you want to know how it will perform during retraces or drawdown. So it is recommended if you are going to run an EA for a month or longer that you at least backtest it for one month.
Answer to question 3) There is no right or wrong answer to this question. I have used the best 1 to 3 EAs and have found that the 10 EAs they were selected from actually performed better than the few I selected. Then again I have had the opposite occur. The one nice thing about running all the EA’s is that they will compensate for each other. What I mean by that is when one or two EAs are going through a drawdown the others most likely could be profiting, this helps to minimize drawdowns. So, since it is difficult to decide to run 1 to 3 EAs or the whole lot, what I do when I want to have more than a 1% account risk I will then run all the EA’s to minimize drawdown. If I just run 1 to 3 EAs then I keep my account risk to 1% because the drawdowns will most likely be greater. So, running the whole lot with a 2% risk also helps to increase profit. So running the whole lot helps to keep drawdown to a minimum while at the same time increases the chance of greater profit.
Hope this helps!
Alan,
Hey Alan
Thanks for your response.
On question 2, I may not be clear in my question. So according to Petko, we must run the EA’s on a test account on FTMO before we use the best-performing ones to pass the account challenge. I would like to know if the 2 weeks we run the test enough. We then take the top 3 and add them to our live account, is this correct?
I will keep in mind of course that if I run 3 or more, which makes sense to me, but then adjust to compensate for no more than 1% risk over all three. I would assume I adjust the lot size? So if I then take my top three EA’s over the two week test period, for a 10K account, then the lot size for 1 EA is 0.05 – I would then divide 0.05 by three and use that lot size on each EA. Am I correct in this Alan?
I am planning on only running on FTMO live account s only.
I do have all EA’s running on a different broker demo account just to have a continuous updated best performance on the EA’s.
Still learning…relatively new to trading, been a heck of a journey this far though. As the saying goes, trading is simple, but definitely not easy.
Thanks again.
Hi Granit,
Mine opened one trade yesterday. I only have the one open trade. Please wait another day and you should see a trade.
Alan,
FTOM 5.0 AUDUSD! I have only had the 10K challenge running for the last 4 days. 4 trades have been closed and now I have one trade open.
Alan,
is it because v5.0 is using more entry criteria than v4.3 ?
on 15m too, its taking more time for trades to setupHi Petko, thank you very much for your response. I’ve been using my MacBook for about a year, and I’ve been trading on the FTMO Broker account for approximately 2 months now. So far, it has been working without any issues. Could I have possibly made a mistake during the installation? The robots are running on my VPS, and 7 out of 8 have already opened trades, so I believe everything should be running correctly. I’ve also explained the issue to MQL5 support, and they believe it’s not on their end.
Hey Nicholas,
I don’t really depend on the time period as one or two weeks. Sometimes, there will be more or less trades opened.
But two weeks is enough to check the recent top performers. Then you need to keep in the challenge only the top performers.
Regarding the risk. The set files are for the testing account and if you trade the EAs individually.
If you decide to put more than 1 EA on a challenge, you better lower the risk.
I have had the FTMO robot on my MT5 for 2 weeks and it has still not made any trade:
– The settings is on the M15
– The algo trading is on
– The only thing i have changed is the take profit (i have only changed it with 10 pips, so if the take profit on the default set files was 60, i have changed it to 50)
– It is running on a VPS
– The broker i have is ACG markets, live 10k accountDo anybody know what i should do to get it going so i can pass the challenge soon.
Thank you.
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