Prop Firm Robots: General questions

[ayoub bentoumia]

Hello,

This week has seen many economic announcements in favor of the dollar and to the detriment of gold and the euro. Or the results are just catastrophic: interest rates set by the ECB at 4.50, unchanged but at an all-time high.
Despite the market conditions, I’ve been trading with these robots since October and I’ve got two challanges FTMO and funded next and I still haven’t passed.
I’m very patient too but I’m starting to seriously wonder if I’ll ever get there and when.
I’ve decided to stop trading gold because with a lot of 0.01 we won’t get far. Despite the fact that the robot manages to get the best entry points, but otherwise for the other peers I remain suspicious. If anyone has managed to pass the challange this month or in December, I’m very curious to know how and with what.

Regards

[Alan Northam]

Hi ayoub,

Here is the results of one trader pass a challenge in the beginning of January 2024.

https://community.algotradingspace.com/forums/topic/i-passed-2-challanges-with-the-ftmo-robots-this-month/#post-224808

Alan,

[gabiscriba]

Unfortunately, this is not encouraging at all. Passing the challenge happened accidentally and with a special strategy, risking more on the top 1 performer. It is not something that can be applied in the long term, except by relying on luck. I am curious if on the funded live account he will be able to continue to obtain profit and make withdrawals.

[Richard Lawrie]

Good day EA Trading academy members

 

I am just interested to know if anyone is keen to join a Telegram group to share Experience with the FTMO Robot and discuss potential set files and success strories?

 

Cheers

 

 

[Alan Northam]

Hi gabiscriba,

Petko does a similar thing by increasing risk on his top performers.  Petko has a scaling up plan he developed and uses to scale up with his top performers.  He shows how to do this in his “The Complete FTMO Challenge” course.  I think I can remember his sharing the scaling up plan in the 21 day course.  Basically Petko will wait until he has 3% profit and then will double his risk from 1% to 2% such that if his account draws down it will only draw down a maximum of 2% leaving his top performer with a worst case of 1% profit.  Petko has used his scaling up plan in some of the earlier FTMO robot versions.  Petko uses his scaling up plan to pass the challenges more quickly and has passed challenges using the scaling up plan and has shared this on the forum in the past.  So I think Pranav is following Petko’s scaling up strategy by doing a similar thing.

Alan,

[gabiscriba]

Yes, I know this strategy, I saw the video, it is a very good strategy.

But Pranav risked on the top 1 performer, not on the top 3 like Petko. Basically, his risk was 50-50, that’s why I say it’s a coincidence that he passed. And that this approach with top 1 is very risky.
I would like to be able to use the strategy with the top 3 performers. But in my case, as I posted yesterday, I don’t have a top 3 performer in the last month. And that’s why I can only wait for this top to appear. The problem is that I don’t know how long I have to wait. At this rate, I can only trade with EURAUD, which opens a trade every two weeks (more or less).

[Alan Northam]

Hi gabiscriba,

If the strategy of waiting for the top 3 performers to develop, which at this point I am thinking may not develop before Petko updates the robots again, maybe a different strategy is in order.  Or, maybe just wait for the next update.

Alan,

[Alan Northam]

Hi Richard,

Links to other websites are not allowed on the forum and was deleted in your post above. The forum was developed so traders could get together to discuss their trading, FTMO successes and failures, set files, and success stories.  By using this forum allows ALL traders have the same opportunity to learn from others.

Alan,

[Kevwefreeborn]

I’ve sent an email requesting for a refund because I so far do not like the performance of the EAs, it’s been days now, but still no response from support.

How can I even test the profitability of the EAs when they don’t pick up trades? I need my refund please.

 

[Richard Lawrie]

Give the EA some time to work.

Try backtesting them in the meantime.

 

I have done backtests on majority of the files from the FTMO robot app and I picked up that most of them take between 10 – 13 trades a month. You can’t expect the EA’s to be trading all the time.

 

The most important thing is that the EA’s take high probability trades only. Be patient & don’t rush the system.

 

Luckily all the Prop firms don’t have maximum trading days anymore so you can be patient and let the EA’s do the work.

 

[Richard Lawrie]

Good day EA Trading academy team

 

Quick question with regards to backtesting

When I back test I usually look at the Results column as well.
I am focusing on Profit, Drawdown, Profit factor and recovery factor.

I also look at the actual results column though.

Is there a specific number we should be aiming for in the results column or is looking at the above mentioned enough to do an accurate backtest?

Regards

[Kevwefreeborn]

Well, I’ll give it more time to see.

[Trader 27]

Try EURAUD and usdchf and utilize Petko’s scaling strategy.

[Trader 27]

Take prop firm challenges that has no time limits.

[Alan Northam]

Hi Richard,

I look for a Profit Factor of at least 1.2 because it tells me the strategy is profitable.
I look for a Drawdown of less than 10% because the deeper the drawdown the longer it takes to recover the loss.
I look at the count of trades as this tells me how active is the strategy.
I look at Profit as I can take it and divide it by the number trades so I can forecast expected profits in the future

So I am looking for an active strategy, the profitability of the strategy, quickly recovery from a drawdown, and expectation of future profits.

Alan,

[Author]

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