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Dear Traders,
I notice some of you are getting quite frustrated with the FTMO robots so I thought I would share the following:
January through May are good months for trading the forex market.
June through August are the worst months for trading the forex market as the big traders that move the markets take vacations.
September through the first half of December are the best months for trading the forex market.This month, January 2024, has not lived up to expectations as being a good month for trading the forex market. However, do not be despaired as we still have February through May to look forward to some good profits. It may occur where we have to go through several weeks of disappointments but be patient the profits will come to those who stay the course.
Alan,
Dear Traders,
When using the FTMO robots on other prop firms do not expect to see the same performance as the historical data of the various prop firms may be somewhat different. Also, the top 3 robots from the FTMO app may not be the top 3 on other prop firms. When using other prop firms I recommend testing all robots with a small lot size for a month to learn if the FTMO robots are profitable and how their performance compares to testing on the FTMO prop firm. Once you have determined the prop firm works well with the FTMO robots then you can pick the top 3 from the FTMO app and trade them with the prop firm you have tested.
I am now testing a different prop firm each month to determine how well they perform using the FTMO robots.
In January I tested “Infinity Forex Funds” and found this prop firm performed equally well compared with the FTMO prop firm using the FTMO robots. So on Monday I will be using the top 3 from the FTMO app on IFF.
In February I will be testing “FX2 Funding”.
Alan,
Hi Alan, thank you for the revert.
My main worry is the inconsistency of the ea across the various prop firms. Even though I’ve loaded the ea on exactly the same assets across the prop firms, the signals are seemingly different. Why is that?
Please indulge me for a moment and let’s forget about the various prop firms. I have a 10k challenge account on ftmo and I also have a 50k trial account. The ea opened a sell position (audchf) on the trial account but nothing on the 10k account. These are from the same prop firm, why would there be a signal discrepancy. This is confusing 🤷🏾♂️. I don’t get it Allan.
Hi Nchele,
The demo account and the challenge account use different servers. You can check this by looking at the login credentials for both accounts and look at the server name.
Alan,
Hi Alan,
What’s your recommendation if the top 3 has a duplicated asset but on different time frames. Example, top 3 is reflecting audchf M30, xauusd M5 and audchf M5.
Also how often do you guys refresh the robots. I refresh daily on the weekly time frame. Is that too much? What’s your recommendation.
And I understand that your responses will be a recommendation.
Thanking you.
Hi Nchele,
Go with the updated V6.1 robots. I would only add new robots to your Challenge once a week as a minimum.
Alan,
Alan, here’s another puzzling occurrence. This sell position was opened as per normal with a 50 pip stop loss and 100 pip TP. The NFP news just came out and were in our favour for us to maximise profit. The position closed too soon. It seems that the TP was moved to around 12 pips. I only made a profit of $120. The market is still moving as we speak in our favour so I’m missing out on profit. Why would the position have closed way before 100 pips? I’m very disappointed..
Hi Alan,
Please note on the YouTube platform Petko has advertised firmly that the FTMO robot works with any prop firm, also he said no need to test but one can trade directly. Note that I bought this robot on the bases of the YouTube video by Petko. Just for clarity!
Alan, here’s another puzzling occurrence. This sell position was opened as per normal with a 50 pip stop loss and 100 pip TP. The NFP news just came out and were in our favour for us to maximise profit. The position closed too soon. It seems that the TP was moved to around 12 pips. I only made a profit of $120. The market is still moving as we speak in our favour so I’m missing out on profit. Why would the position have closed way before 100 pips? I’m very disappointed.. Kindly I need response to this problem I just came across?
Hi Nchele,
Here is what happened. The FTMO robots have an internal Average True Range (ATR) indicator built into them such that when the range of a candle increased significantly it will close the trade. Here is what it looked like on the chart. When the 15 minute candle drawn on the chart due to NFP news event increase significantly the ATR (blue line) moved upward crossing the signal line (red horizontal line) and triggered the robot to close the trade. The reason the ATR closes the trade is because sometimes after a wide ranging candle the trend will change directions and start losing. The ATR helps to keep a profitable trade from turning into a losing trade.
Alan,
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