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Hi Ilan,
Thanks for your response.
I would like to suggest to add fortnightly top 10 results. I believe this would give us better ideas on the strategy performance on the past two weeks. Stronger indicator on how the strategy is performed during the current market condition and economic environment.
Hey Ben10power,
I can’t say for sure which is the best practice, because the market generally determines this. However, the system that Petko implemented recently worked well. I’ll address your questions individually.
1. Not the top 5 but all of the EAs in the app, and all time. Download them and run them in a demo account.
2. Yes, but you’re looking for the best-performing currency or symbol, not strategy. Use the Symbols tab in FX Blue for this.
3. What Petko does is trade all of the EAs for the best-performing asset from the preceding week. So, you’re only trading one asset per week.
4. Again, not the strategy, but the asset. You’ll simply repeat the process and check which asset is performing best in the demo account. That’s the one you’ll trade the following week in your challenge account.For the funded account, you’ll need to experiment a little. Again, use a demo account. You can either simply continue doing in the funded account what you were doing in the challenges with the assets. If it works, why stop? You can also try top 3 EAs, or top 1 of each asset. Anything, really. But again, please test any new idea on a demo account.
Also, please ensure you have set up the app correctly before downloading the EAs. I mean the account or challenge size, risk per trade, DD levels, account protections, etc.
In terms of the fortnightly suggestion, I do understand your point, but the app is already so jam-packed with features that adding yet another timeframe might be a bit much. Having said that, it is really easy to see the performance of any EA across any time period you choose. Simply use EA Studio for this. You can use the strategy tab for this or the Validator.You’ll go to Data -> Data Horizon and set your date range. Then, go to Strategy and select “Import an expert advisor back”. You’ll select the EA you’ve downloaded from the app and see it’s performance over the date range you selected. In addition, yu can see many other stats. You don’t need a license for this. You only need a license to download the EAs, but because you have the Prop Firm Robots app, you’ve already downloaded it.
I hope this all makes sense.
Thanks,
IlanHi Ilan, thank you again for your detailed response and tips. I’ll try all the EAs this weekend when the top 10 is refreshed.
My follow up question – the daily maximum loss for the funded account is between 3% – 5% on most of the prop firms.
Am I understanding this correctly that each of the Prop Firm Robot (EA) is risking 1% at mid level? If I use 3 different EAs on a single prop firm account. I could risk 3% in total and this means I will breach the account if all of them hit stop loss?
I understand to pick the best performing currency pair from the last week’s result in the demo account. If the best performing currency is USDJPY and there are 4 EAs are with this currency pair. I would download all 4 EAs and load them up in my Prop fund account. Would this create some issues with max daily loss limit?
I know we can reduce to 0.5% low risk setting but I am just wondering what’s the maximum EAs on the same currency pair we should use?
Another question follows this – if the prop firm restricts the hedging within the same currency pair, then this would create some issues if we are using multiple EAs on the same currency pair as they could enter both buy and sell trades.
Hi everyone I purchased these bots this week and have loaded onto my Darwinex Silver account, they Blue Hat Appear so I know it is turned on and the stats are however but no trades have been placed by either BOT so what is happening?
I have used Darg Gold which Does place trades and Dark Rea but your BOTS are not placing 1 Trade?
Seems alot of money for something that doesnt work
Mk
Suggestion to the Prop Firm Robot EA – Inside the news setting – is it possible to have an option to close all positions before red/major news randomly between 5 – 60 mins? Most of open positions are now reached SL after last night’s news event on my demo account.
Hi Ben10power,
Correct, with 3 EAs each risking 1% per trade, you will be risking 3% in total if they all trade at the same time. So if all 3 hit SL, you could breach a 3% DD account; however, you can also set account protections like max. daily loss, which could be set lower than -3%, and close all trades if the account gets close to that. This is also applicable if you are running more EAs, as you asked in the next paragraph. It’s unlikely that all the EAs will open trades simultaneously because they use different indicators and parameters.
Many prop firms allow hedging within a single account, but if multiple EAs create opposing positions simultaneously, it could still be seen as hedging behavior, especially if they’re not netting the positions properly. To avoid violations, you’d need to either limit each account to only one EA per pair or ensure the EAs’ logic avoids opposite entries on the same sy
We’ve never had this issue come up for us when trading with prop firms, though, but of course you should check with your prop firm if they do restrict hedging. I would even advise considering a prop firm that does allow both buy and sell positions at the same time.Hi Mark,
If you look at the robots in the app and switch to the 1-week results, you’ll see that all the EAs open between 1 and 4 trades per week. So, the EAs are not very active but rather wait for the exact market conditions where all of the entry conditions are met for the highest chances of success.
The Dark Gold and Dark Rea are very different EAs and use different indicators and values. It’s a grid EA, so they will, by their nature, open more trades.
Judging an EA by the number of trades it opens or how active it is is not an accurate assessment.
Thanks,
IlanHi, that is a good suggestion. News can unfortunately affect things and we just avoid opening new trades around the news. The problem with what you have suggested is that it would make accurate backtesting a problem. Also as currently the backtest will capture this behaviour accurately, with a good backtest it will show that over the long term the news spikes are not causiing a problem even if on occasion they can cause a loss.
Hi Ilan,
Thanks for the explanation. This makes sense.
Another thing – why do we only see EAs on M5 charts? Do you also create EAs on M15, M30, H1 charts?
Hi Samuel, thanks for the response. So open positions will be kept during the news event. Understand it could go either way but would be good to have an option if I don’t want to take the risk.
Oh then it renders the news function useless for PropFirms. PropFirms rules for non-swing accounts ask to not open and close trades around news mostly +-5 minutes.
Here’s the improvements on the PropFirmRobotsApp that would need to be made before being usable:
– In Custom Challenge Options add news priority, before medium news time, after high news filter, max spread, max open positions, news record to show. Because when you add multiple EA’s it becomes tedious to change them all manually one by one
– Risk, max loss, max daily loss and profit target should be the values that we set not a guess of a margin. We can set the margin ourselves
– The default value for medium news time should be 30 minutes and high news 60 minutes because even if the prop firms rules are between 2 and 5 minutes generally it can have a lot of volatility before and after.
– The news currencies should be by default only the ones that are related to the pair. For example EURUSD would be EUR and USD only. XAUUSD would be USD only and so on.
– The news priority should close ALL related pairs to the news in addition of preventing of new trades of being open. For example a USD news should close all pairs that have USD in for example XAUUSD and JPYUSD and so on.Optional or in the future but would be great:
– Add entry delay parameter to have more unique strategies
– The randomize settings built-in in the EA so each new trades have a unique setting
– Add an equity protector Max Daily Loss balance, Max Daily Loss equity and Mac Daily Loss highest value are the most used by PropFirms. (We can use a protector EA in the meantime)
– Add a trading time setting (We can use a protector EA in the meantime or close trades manually but not ideal)After all these improvements I would be able to use the PropFirmRobotsApp on my ProFirm challenges.
I’m looking forward to it.
Keep up the good work!
Hi EASystem,
Agree with your suggestion and I think these are mandatory if we want to use PropFirmRobots, especially on non-swing and funded accounts. Prop firm funded accounts specifically stipulates the news trading restrictions.
Further randomisation is also required to survive prop firm scrutinizing on each of the profitable trades. they can come up with all the BS excuses to deny payouts so its better not to give them opportunities to do so in the first place.
Can I ask what the requirement for a non-swing account is? Do you really need more than 1:30 leverage? I have passed MANY prop firm challenges using EA Studio as shown here: https://community.algotradingspace.com/forums/topic/many-prop-firm-challenges-passed-with-ea-studio/
I always choose swing accounts and never pay any attention to news at all. I suppose it depends on the system that you are trading but the strategies behind the prop firm app have shown in the back test that they do not require news turned off and its just an option.
I guess my main question to EA System is why do you need more than 1:30 leverage? Other than that suggestion for additional slickness are sensible, we will consider implementing 🙂
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