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I use Dukascopy.com when I need a demo account. However, with IFF I just opened an Algo Evaluation account and used it as a demo account.
Alan,
The FTMO robot is installed properly. How long has the robot been installed? If you just installed it within the last day or two you may need to give it more time to start placing trades.
Alan,
Hi ochoanel,
I also have a challenge account with Infinity forex fund (IFF). IFF doesn’t have a demo account so I opened an Algo Evaluation account so I could demo test. I have been testing the FTMO V6.0 robots this week on both the FTMO Challenge and the IFF Algo Evaluation and the results so far are very similar. So you might check out this prop firm. Also check out the5ers.com. I have had accounts with them in the past. Also https://fx2funding.com/ is located in the US so you might check it out. I haven’t used them before but I like their plans and rules so I might try them next time I want to start a new account.
You can also check out:
https://platform.algotradingspace.com/prop-firms/
Alan,
Hi ochoanel,
I too am in the US and I contacted FTMO support about this. There response is that US clients with current challenges will be able to continue trading them and if they become funded accounts they will still be able to receive payouts. The only thing US traders cannot do is to open new Challenges.
Alan,
Hi Bence,
I haven’t watched Petkos’ video but if the results were from last week and not this week I would expect somewhat different results.
As to whether this week was a slow week or not I cannot answer. I don’t know if you can call it a slow week or not but it could just be that the trending and ranging periods didn’t last long enough for all the indicators to line up during certain periods of this week. Maybe not a slow week but there could have been more trending and ranging periods than the previous week but they didn’t always last long enough for all the indicators to align. Just my thoughts.
Also, no worries. I don’t take your response as a complaint.
I am spending this week testing the robots. I am looking for a top performing robot with at least 3 to 5 closed trades before I will start trading it. It doesn’t look like this will happen this week so I may have to wait a few more days.
Alan,
Hi Bence,
The reason the FTMO V6.0 robots don’t take trades as often as we would like is because the robots contain six indicators that all have to lineup to give a buy or sell signal. So it takes time for all these indicators to align themselves. The theory behind having so many indicators is that if it takes many indicators to line up and give a trade signal then the higher quality of signal it should be. Robots with fewer indicators would obviously take less time for the indicators to line up and give a trade signal. So I would not be disappointed the robots do not take trades as often as we would like, we should be pleased the signals from the FTMO V6.0 robots are providing high quality trades.
I might add that even though these robots provide high quality trades it is still possible for these indicators to close with a loss. Why is this? There are two types of indicators, indicators that provide profitable trades when the market is trending, and then there are those indicators that provide profit when the market is ranging. So there are trending type indicators and there are ranging indicators. Trending indicators will generally end up losing in ranging markets and ranging indicator will generally end up losing when the market is trending. Now beware that every trading day will provide trending periods and ranging periods. This is why we will get profitable trades and losing trades. Further sometimes ranging markets can last for several days or several months. This is why it is beneficial to demo trade as it will help us to understand if the markets are trending on a weekly basis so we can determine if the current market environment will allow our robots to generate profits. So with good quality robots there should be more profitable trades than losing trades which will then provide a profitable account.
Alan,
Hi PrinalSci,
I started testing the FTMO V6.0 robots on 01/08/2024. I will be sharing my results for the week this coming weekend and my plan for going forward.
Alan,
Hi Brian,
Sorry to hear you no longer wish to trade with the FTMO robots. To let you know I am currently testing the robots and will be trading with them soon and hope to pass the challenge within the next couple of months. I hope you will continue to follow how I test and trade the robots and maybe it will help to give you confidence in the robots such that you may wish to trade with them again in the near future. Sure wish you would reconsider and just follow my lead.
Alan,
Hi Shashwat,
At least now you know for sure they wouldn’t accept the EA.
As for the FTMO demo account. If you are using FTMO V6.0 robots did you make sure the account size of the demo account matches the downloaded robots. For example, if your account size is a $10,000 account then the downloaded robots should be the $10,000 download of the robots. Also if you testing the robots using MT4 do you see smiley faces, or if you are using MT5 do you see a blue hat in the upper right corner of the charts. If these things were done correctly then you just need to give it more time to start seeing trades. I have also been testing the FTMO V6.0 robots this week in an FTMO account. I have 3 open trades going. One was opened on 01/08/2024, one on 01/10/2024 and one on 01/11/2024. Notice there was not a open trade taken on 01/09/2024 that day was skipped. So it is possible that when you start a new FTMO demo account it may take a day or maybe even two days before you will start seeing trades opened. So, hang in there, be patient, and give it time.
Alan,
This is exactly why demo testing is important. You can follow the guidelines for demo testing from the following link:
https://community.algotradingspace.com/forums/topic/how-to-trade-the-ftmo-v5-1-robots/#post-219413
The link shows how to trade the FTMO 5.1 robots but it applies to all FTMO robots as well.
To change the account risk from 1% to 0.5% (low risk) all you need to do is to cut the lot size in half.
Alan,
Hi Michal,
Yes this is a good strategy and is what I do. As to how to test and trade the robots I would recommend clicking on the link about in an early message on HOW TO TEST AND TRADE THE FTMO V6.0 ROBOTS.
Alan,
