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Hi Sammy,
After you get the setfile and load it into the EA show a screenshot and I will verify it is the correct file.
Alan,
Hi Sammy,
The FTMO V5.1 robot setfiles for a 10K account are correct but they are different from the image you have provided. Somehow, you did not load the correct setfile. You should have been sent an email with a link for the correct setfiles and robots. If you do not have these setfiles you will need to contract [email protected] .
Also, you cannot just use setfiles for other EAs as the settings will not be correct.
Alan,
The Minimum equity protection is protecting your account balance of $10,000. So it is keeping your account from trading as trading could result in a loss which would then cause your account to fall below $10,000. To get this EA to start trading it is necessary to reduce the Minimum equity protection level. For example, reducing it to $9100 would keep your account from drawing down more than 10%.
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,
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,
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,
Create another one using OOS of 10%. This will give you an idea on how it will perform outside the same period.
Also, that 11.9% max drawdown could cause an FTMO account to fail if you were to use your portfolio in an FTMO Challenge.
Alan,
UPDATE ON MY FTMO STRATEGY V4.3
The chart below shows the FTMO 10K Challenge balance line of FTMO V4.3 robots from mid December to the end of December 2023. The chart shows a loss of 0.33% over this period. The top performer remains EURUSD. One week ago I increased the lot size from 0.1 to 0.33 lots to represent an account risk of 1%. I really didn’t expect much progress to be made over this two week Christmas holiday period. Further, there may not be much progress made over the next week which represents the New Years holiday period. Hopefully I will see some positive progress made in this Challenge during the last half of January 2024.
The question may be asked as to why am I still using FTMO V4.3 in an FTMO Challenge. What I am showing is two fold: 1. That the FTMO Challenge can be held over a long term without failing the challenge using proper risk management, 2. That the FTMO robots can be used over the long term and still be profitable.
Alan,
UPDATE ON MY TESTING FTMO Robot V4.1
This chart shows the update of my testing FTMO V4.1 robot on an FTMO Challenge. The trading results for the last half of December is from the black vertical line to the right edge of the chart. During this time the balance line has moved upward by $200 to breakeven. However, when I look at the chart from the red vertical line to the right edge of the chart I see the balance line has advanced $465.00. This is a gain of 4.9% over a two to three week period. If this progress continues it could be possible for the FTMO robot V4.1 to pass the challenge my the end of January or early February 2024. So lets see how it goes!
Note: This is a test of the FTMO robot to see how long it can be traded and still be profitable.
Alan,
Hi Luce,
You need to load the setfiles for v5.1 and don’t trade more than 3 EAs to limit account risk to 3%.
Alan,
Hi Sammy,
With the FTMO account you cannot trade during the news or hold positions over the weekend. The advantage is the leverage is 100:1. The FTMO account is good for manual trading but not good for trading EAs.
With the FTMO swing account you can trade during the news and you can hold positions over the weekend. The disadvantage is the leverage is 30:1. This account is good for trading with EAs and the leverage of 30:1 is plenty.
If you use the FTMO account and trade with EAs you will have to manually close all trades during the news events. This will be difficult to keep up with as there are a lot of news events each month. I would not recommend this approach.
Alan,
Hi Sammy / Brian,
Sounds like you are not ready to start trading the FTMO robots. I suggest you follow my trading of my testing the v5.1 robots. Hopefully, this will give you a real life experience of what goes into testing and trading the robots.
I just started demo testing FTMO v5.1 robots on Dec 24th. After testing the robots I will then start a challenge. The last post in the following link shows my testing of the v5.1 robots. I will be updating the results of my testing this weekend.
https://community.algotradingspace.com/forums/topic/my-ftmo-strategy/#post-222356
I would also suggest the video “FTMO Robots – The Complete Users Guide:
Alan,
