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UPDATE ON MY FTMO STRATEGY V5.0
This table shows the results of the FTMO V5.0 10K Challenge from December 20th to the end of the year. Two weeks ago XAUUSD was the top performer and EURAUD was in second place. Note XAUUSD fell to last place over the last two weeks and EURAUD took the top performer place and AUDCHF jumped up to second place. I have reduced to lot size for XAUUSD to 0.01 lots and increased the lot size of AUDCHF to 0.3 lots a risk of 1% to the account. Over the last two weeks the account profited by $73.65 or 0.73%. I really wasn’t expecting much price action over the Christmas holiday season. Total account value now stands at $10301.92.
As can be seen by the balance line, over the last two weeks the account moved sideways during the Christmas Holiday period. Then on Friday the account advanced approximately $173 or 1.7% to show a profit of $73.65 for the two week period.
My strategy in trading the FTMO V5.0 robots shows this account still has quite aways to go to complete the challenge as it is up just 3% so far. The good news is that it is slowly progressing upwards. I expect I could continue to see slow progress through the first part of January until we get passed the New Year holiday period. If this account continues to move higher during the last half of January I may consider increasing the top performer lot size in February.
Alan,
UPDATE ON MY FTMO STRATEGY V5.1
The following is my strategy on how I plan to trade Petkos’ FTMO V5.1 robots:
I started demo trading the FTMO v5.1 robots on a FREE 200K FTMO demo account on December 21st. The following are the results so far. The table below shows EURAUD in top place and AUDCHF in second place. The problem I see in the table is EURAUD has only closed 2 trades and AUDCHF only 1 trade. This really isn’t surprising to me as the trading was done during the low volatility period of the Christmas holidays. Before I consider moving any of the 5.1 robots to an FTMO Challenge I need to see at least 3 to 5 closed trades. So I will continue to demo test these robots for another week.
Alan,
It is possible to look at each robot in EA Studio or the source code and try to identify which of the FTMO robots are range trading or trend trading, however, to me, the proof is in the pudding how they actually perform while trading. Therefore, it is my opinion, the best way to identify which robots perform best in ranging and trending markets is to put them in a demo account, identify ranging and trending markets, and then see which robots perform best during these different market conditions.
Alan,
What’s the criteria on how Trading Hours should be set?
What’s the timezone to be taken in consideration? (I’m in GMT+1)
Big update – https://www.youtube.com/watch?v=5EWNP9L2q5U
Dear Fellow Traders,
I’m genuinely thrilled to share a major milestone in my trading journey – the FTMO Robot has successfully navigated and conquered my 1 Phase 15k Challenge! 🎉
I initially kicked off with V5.0, diligently trading for a month with the Top 3 performers. However, in the pursuit of optimizing results, I decided to make a strategic move. I upgraded to V5.1, tweaking the lot size to be twice the default for the top performer, USDCHF. The outcome? It delivered the maximum profit during this trading.
I used V5.0 initially but it was cost to cost even after 1-month trading with Top 3 performer later I replaced all the robots with V5.1 with Top 3 performers but this time 2x the lot size of default for the top 1 performer ( USDCHF). It gave me the maximum profit in the meantime.
The journey took me a solid 34 calendar days, during which USDCHF and EURAUD emerged as the most profitable pairs for me.
For those keen on the nitty-gritty details and statistics, feel free to check out the comprehensive breakdown on my FX Blue profile:- https://www.fxblue.com/users/480135
Happy and genuine trading vibes to all!
So did you just keep using the same top 3 performers from your test time? I have been trialling the 8 bots as suggested for to see what are top performers
Hi Tyler,
The timezone is GMT. With “From hour” set to 2 it means the EA will not start trading until 2 hours after the market opens.
Alan,
Morning all!
I am not sure whether this question has been asked above already so apologies if so.
Question is if there are several thousand people using the EA and we are using the same Prop Firm do they not detect trades being copied or is there variance programmed into the bot?
Thanks again for your answer. 😉
Hi Mathew,
You don’t need to worry about the same EA being used by others while in the FTMO Challenge and Verification as the third party EA rule only applies to funded accounts.
Alan,
MY FTMO V6.0 STRATEGY
I have opened an FTMO 50K Challenge. I have placed all 8 Expert Advisors on MT4 with lot size set to 0.01. I will be testing these EAs for 5 trading days. I will then look at the top profit maker and if it has at least 3 closed trades I will then change the lot size to the recommended lot size for each downloaded EA. I started testing these EAs on Monday 01/08/2024. The following tables provided by FXblue show the results after just one day of testing. I know the results for only one day of trading is limited but I wanted to get my strategy out there so others can see how I am testing and will trade these Expert Advisors.
This table shows 2 closed trades after one day of testing. One EA was profitable EA and one EA had a loss.
This table shows 4 Open trades. The table shows 3 EAs in profit and 1 EA in a losing trade.
Alan,
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