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Hi superalf,
I use to be able to go to Y5 and see all 14 robots. Why I cannot do that now is a mystery. It may be that Petko is not testing the shorter term time frames back 5 years like he use to. I am waiting for clarification from Petko.
While we wait I should also invoke some knowledge to you incase you are not aware. The robots are back tested using BlackBull historical data. You may not be aware that all brokers/prop firm historical data is somewhat different. So for example, the top 3 robots in the Prop Firm robot app may not be the top 3 when trading the robots with FTMO. So, when you chose the robots you want to use from the Prop firm robot app don’t expect them to be the same top performers in the FTMO challenge.
Alan,
Hi Alan,
Thanks for checking on that. Do let me know.
Right, I am aware that the backtesting is not done using FTMO and that the data and results can change from one broker to another, I have seen this myself. This is why I have been testing the robots myself on an FTMO demo account to determine which are performing better (following your approach with your EA Studio robots, great work there!)
Hi superalf,
Petko has informed me there will be a big upgrade soon. So lets se if the upgrade solves all your issues.
Alan,
Hey Alan,
I’ve been speaking to Nikos about the Top 10 EAs lately, but he hasn’t answered yet and does not have solutions for some things I asked, especially the issue with trading portfolio EAs and identifying the profitable ones. Could you please take a look at the thread and see if you can add something valuable? Thanks a lot!
best regards
Boyan
I had an EURAUD M15 trade on May-7. the loss is not showing on your website stats. Is this just an error or you
not keep showing losses (scam?)
Hi Wolfgang,
The app is updated every hour and shows profits and losses. Here is the problem and some education for you.
The historical data your Expert Advisors use with your metatrader terminal is not the same for all brokers/prop firms. The reason is with the forex market there is not one single source where all the brokers get their historical data. So it is up to each broker to go out into the markets and get their own data. They do this by getting trading data from various banks around the world. Unfortunately, all banks / prop firms do not get their trading data from the same banks. As a result every brokers data will be somewhat different. So when you have a particular EA and you use it with different brokers you will get different results. So when EA on broker A is profiting the same EA on broker B could be losing, AND, when the EA on broker A is losing the same EA on broker B could be profiting. The problem is not the EA it is the historical data used by the brokers.
Knowing this, the app where you got the EA uses broker Blackbull for its historical data. The results shown in the app shows the performance of the EAs using Blackbull historical for educational purposes. You need to read the at the bottom of the app. While the EAs in the app show certain performance, because each brokers historical data is different, it does not mean the same EAs will be profitable at the same time with the broker / prop firm you are using. So how do we successfully use these EAs? Good question! Here is the answer: You need to test the EAs with your broker/prop firm. So how do we do this? Here is how I do it: I install all EAs I want to trade with the broker I plan on using and use a 0.01 lot size so the results do not significantly cause a drawdown. I then let the EAs run for one week, sometimes two weeks. I then review the results to determine which EAs are profitable with the broker/prop firm I am using. I will then chose these EAs to trade and change the lot size to represent the account risk I chose to accept. Currently I am testing 50 EAs I created with a new prop firm I plan to use. I always do this to reduce risk. This is all part of money management.
You can be successful using the EAs from the Prop Firm robots app or the Top 10 EA app, it just depends upon how you do it. Success comes from testing with is part of money management. Money management is necessary to run a home, a business, or in trading.
Hope this helps!
Alan,
Hello,
I connect the V6.1 bot gold to my mt4 account but 0 trade was opened since Friday. Someone have an explication?
Experience lesson: yesterdays gold super bullish move to a new high, besides eating away all my previous wins of the week, really was the proof and lesson I needed to understand how to better manage the FTMO Prop EA trading. See the SL/TP range is huge and by design that is to allow the XAU movement towards TP. However, as of yet the TP has never been hit, whereas SL sometimes and if not the open trade stays well within loss until it reverses to profit. Sometimes the EA will close the trade early and open opposite direction but not if it doesn’t get the required opposite signals. Now here is the breakdown for me: you shouldn’t allow the EA to go over 100$ in loss with XAU especially if you are running it on default protections with no spread/max lot/max open positions protections. If the EA has opened a wrong direction position, I would let it run up to 100$ loss and most likely close the trade and possibly open a new one manually to the opposite direction as this movement is a strong indication of the trend going the other far the other way and until it comes back that is usually the profit direction. I have noticed that if the pair is chopping there is no real danger as it will definitely return to the opening direction soon. But if the pair is trending and trending strongly, then it won’t come back anytime soon and I would need the opposite direction to match my losses and also gain some profits. So the way the EA trades when loosing at least with XAU, can be used as a strong confirmation to either hedge with an opposite direction manual trade so you can offset the loss to breakeven and even gain some profit while waiting for the reversal or if you want to play it safe simply close the wrong direction after 80$-90$ loss and open an opposite direction IF the chart is showing strong trend and high volume on that trend. The EA usually opens the correct direction but because the SL/TP for XAU is huge you should really be careful when the trade is not going the right way. This supposed to be a bearish move but turned out to be the most impressive bull trend I have seen the last couple weeks with any pair. Due to work commitments I wasn’t on my PC to make changes and caught this late on my mobile after the open loss was about 380-400$, so at that point I had to let it play out. But since it wasn’t coming back this morning and the SL was at about 500$ I closed the trade, as it was affecting all three of my challenges. Thankfully nothing else was open so this move didn’t activate my EP, however I think I ll pass todays trading as the losses counted on todays trading and if another one like this happens it could be an issue. Please note so far the EA has been very successful and was able to manage it correctly. But it needs monitoring like that as sometimes it will be very wrong although its calculations are correct but the market is not playing ball as it has a mind of its own and can go either way without notice.
Hi Alan,
Thank you for replying. I’m novice compared to most people here so please elaborate more. If it helps I’ve added more details:
Robots I currently have the below EAs and a $200K challenge at $191k:
Please advise on:
1. How to properly apply risk diversification for the safest and most consistent results?
2. What do the headers “D1″,”W1″,”M1” mean? Does it mean we would be applying the EAs accourning to the sufix timeframe (Ex: AUDCHF M5, on 5 min) and let them run for a day, a week etc accordingly?
3. Any additional heads up/suggestion you have for me to pass the challenge using robots?
Thank You in advance
i too took a hit on this trade, on friday, loss of £700. I run this bot on my darwin account. So i have a lot aize of 0.19 open. Thing is it was in nice profit on thursday i think by £240 and hindsight says i should have banked the profit but i wanted to see the EA in action.
May have to adjust the TP in the set file going forward and take the small wins.
@paul4x yep that’s a good idea as well. Tbh the XAU pair seems the most active-profitable-low DD EA on the board so far. However due to its volatility can sometimes return more losses. So perhaps tightening the TP from 9000 to 5000-6000 would be a solution limiting the chances of a reversal as for the price to hit the default TP is a long distance and lots of things can happen to turn things around until it hits that TP. So if the XAU is more active, then yes a smaller TP that would most likely be hit more often would also be an excellent choice.
Hi Calebfg256,
Answer 1: Before you select a Prop Firm robot you need to make some choices to set up risk and profit target. See image below. You need to select the size of your challenge. You need to select the Max loss, Max daily loss, and Profit target according to the requirements of your challenge. Then you need to determine risk, Low risk, Medium risk, or High risk. Then you need to decide if you want the robot to trade during news events so you need to select the New filter you wish to use.
Answer 2: If you select robot EURUSD M15 for example, then you need to put it on a M15 chart.
Answer 3: To pass a challenge, or to be a successful trader using a brokerage account with robots requires three things: 1. A good robot. The Prop firm robots are very good robots and have been backtested to show they can product profits. 2: A trading strategy. It is a well know fact in professional trading that all traders need to develop their own trading strategy. What works for one trader does not often work for another. If one strategy was to work for everyone, that trader could sell his strategy and we would all get rich. However, it does not work like that. The majority of traders end up losing their accounts. So, my advise is to practice on a demo account until you figure out your strategy for trading. The demo account could be with a forex broker or the prop firm FTMO has a demo account. 3. Risk diversification: Professional traders never risk more than 2% or their account on any one trade or robot and they never risk more than 6% when trading multiple robots at one time. Professional traders never put all their eggs in one basket. So trade more than one robot so that if one robot is drawing down the other robots might be profiting offsetting the loss.
Hope this helps!
Alan,
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