Forum Replies Created
-
Posts
-
Hi BR Luce,
One more thing I forgot to suggest. If you are going to eventually open an FTMO Challenge you should also test on the FTMO demo account so you can compare the results between your brokers server results and the FTMO server results. Sometimes I see significant difference when demo testing on one server and live trading on another. I have even experienced different results when demo testing on a broker and then live trading with the same broker using the same EAs.
Alan,
Thanks!
Please keep us informed of your results as I think traders would find it of value. It also shows that not all weeks will be profitable, however over time the majority of weeks should show profitability. :o)
Alan,
UPDATE ON MY TESTING FTMO Robot V4.1
From mid August until early November I tested FTMO Robot EURUSD V4.1 using several 14 day FTMO demo accounts. During this time, if I piece together the results of several 14 day demo accounts, this robot gained approxiamtely 9.2%. Based upon this performance I then desided to move this robot to a 10K FTMO Challenge.
On November 9th I started a 10K FTMO Challenge using FTMO robot EURUSD V4.1. As luck would have it, the account started drawing down. This happens with trading and is something I just have to deal with. As can be seen the account drew down by -5% and has been moving net sideways since and currently about -1.5% below breakeven. It will be interesting to see if this Challenge moves into profit before the end of the year.
Alan,
UPDATE ON MY FTMO STRATEGY V4.3
On October 26th I started an 10K FTMO Challenge using Petko’s FTMO V4.3 robots. From October 26th through mide November the lot size for all robots was 0.01 lots. In mid November I determined the 2 top performers to be EURUSD, and EURAUD. I then increased the lot size of these top performers to 0.1 lots. From the chart below you can see that from mid November the account continued to move sideways, then in early December the account drew down by -2% and has now started to rebound.
Next I looked at FXblue to check on the current top performers. I filtered the chart by Net pips. It was necessary to filter by net pips instead of net profit becuase the lot sizes are different. I noticed EURUSD was still the top performer. I also noticed EURAUD moved down to 4th place with a loss of 133 pips. I also noticed GBPAUD has moved into second place with a gain of 40.7 pips. I will not reduce the lot size of EURAUD from 0.1 lots to 0.01 lots. I will continue to keep EURUSD with 0.1 lots with all other robots at 0.01 lots. I will check this account again next weekend to see how this 10K FTMO Challenge is doing.
Alan,
Petko has a video on exactly how to set up and trade the FTMO V5.1 robots.
Alan,
You can do it any way you chose. You could also keep trading the old and the new portfolios in a demo account.
Alan,
I don’t use MT5. Contact [email protected]
Alan,
Right click on the blue hat, select Expert Advisor, select Remove. Now you can install a new Expert Advisor.
Alan,
I know that Forex.com does not allow trading with EA’s on their demo account but does allow them on their live accounts. So I have to question if Pepperstone allows EA’s on their demo account. Check with them to verify they allow EA’s on their demo accounts.
Alan,
The lowest risk is to use the Top 1 EA. As to how long it will take to pass the challenge depends upon the volatility of the market. There are certain days, weeks, and months that are more volatile than others.
For a newbie, I would recommend using a 10K challenge. This way if you fail the challenge you can use the same money you would have used on the 25K or 100K challenge to try the 10K over again until you pass then challenge. Then once you pass the challenge you can use profits from it to use higher level challenges.
Alan,
