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Hi Kevwefreeb,
Here is the thing about trading: As traders we look at past performance to determine if the instrument we want to trade is in an uptrend. We then expect the trend to continue so we place a trade. However, no one knows with 100% confidence if the trend will continue in the future. Have you ever looked at the stock market? Normally it will go higher but there are times when it goes down. However, over the long term the stock market continues to mover higher and higher.
The same thing applies to Expert Advisors or EAs/robots. Expert Advisors are created based upon the past performance of currency pairs. The majority of times these EAs will be profitable. However, there are times when EAs will go through a drawdown. How do we handle this? The way we handle this is with consistency. A successful trader will keep trading knowing that as long as he/she is consistent they will be profitable over the long term. You can never be a successful trader if you do not continue trading over the long term. So continue to trade on a demo account until you feel you have become a successful trader and then move on to a live account.
Hope this brings new encouragement to you!
Alan,
hey everyone,
so my 2 week trial with FTMO ends tomorrow, i ahve been using the tope 3 robots that i downloaded on 14th Jan, at that point in time the 3 top pairs selected by the app were the following. I am using a 10k trial account.
EUR/AUD M15 – trades 1 this week with profit $160
GBP/AUD M30 – trades 2 this week with a negative $95
USD/CAD M30 – trades 4 this week profit of $174Current results showing a profit of $274, so 50% towards the profit target. I shall post the link below.
https://trader.ftmo.com/metrix?share=859246db0501&lang=en
The question i have now is according to Petro videos, do i increase lot size as account at 2% or was this old pass methods?
Looking at the app today, then GBPAUD is not part of the top 3 and so i would swap this out for perhaps the AUDUSD pairing.
Overall, i think passing the challenges is possible and will certainly try it on a full live challenge at some point, it will be a case of chopping and changing per week.
Hi Paul,
Good job so far!
I would wait until the account has a profit of 3% before increasing risk to 2%. The reason for this is if your account has a drawdown of 2% you would still have a 1% profit.
Changing out GBPAUD for AUDUSD may be a good idea as it has larger profit last week. However, that does not mean AUDUSD will be more profitable than GBPAUD next week. It is your choice. Oh, the choices we traders have to make! :o(
Alan,
I have replaced all my FTMO V6.0 robots on my 50K FTMO Challenge with this weeks top 3 from the FTMO app.
Alan,
Hi all,
I am using the FTMO robot on a trial account (yes I am aware there is no longer a need) but I was familiarising myself with the mechanics before entering a challenge. I have an issue where trades are automatically closing early, not hitting either SL or TP. Has anyone else had this issue? I have added all of the standard FTMO bots and made no changes. I have used the correct risk and account size bots. If I am doing something wrong I would really appreciate any help 🙂
Many thanks!
N
I haven’t had this issue.
But I’d like to see the response from the EA Trading academy team to see the potential issue.
Hi Hope and Richard,
The FTMO V6.0 robots have a built in indicator that is used for closing positions. When this indicator signals a close the robot will be closed. The TP and SL are used as a secondary method of closing closing trades when the built in indicator does not signal a close.
Alan,
I am using the FTMO robot version 6.0. Should I check the top performance every day from the last week, or should I check it once a week, for example, on Sundays? Additionally, does version 6.0 of the robot allow for setting leverage?
Hi Michal,
It is up to you as to how often you check the top performers. One way is to just check them once a week. Another way would be to check the monthly and the weekly to see which robots show up for both the monthly and weekly time frames. This would tell you which robots have been best performers for a longer period of time. So there are various ways to use the FTMO app.
As for leverage, leverage is set by the broker or prop firm and not by the robot.
Alan,
So end of my 2 week trial with ftmo using the top 3 from a few weeks ago. Over halfway there, USDCAD was top performer with 6 trades, GBPAUD had 3 trades and EURAUD only had 1 btu it had the biggest profit of 160 from that trade. I currently have a challenge ongoing with another different bot just started yesterday, so will wait till next week and give these bots a chance on a challenge.
If the FTMO EA has a built in indicator as suggested, why did it open two trades on the same pair, but closed one prematurely while the other was left open? Couldn’t/shouldn’t it be closing both trades??
Thank you for your replies so far, do we know which indicator is being used to close positions early? I have seen a position open for a particular pair, and then close early, and then reopen again a short while later..
It’s happened to me too. It opened two similar positions on the same pair, closed one of the positions and opened a new one in the opposite direction.
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