Forum Replies Created
-
Posts
-
Nw this bot has nearly blew my account not using more than medium risk and I started out at low risk in 2 weeks I was at $215k almost $216k now I am down to $204k in a 2 day period! wiyth $2700 in floating loss!
I have noticed that after a winning EURJPY trade the EA automatically entered a EURJPY trade again but this time at a loss. The next day the Set file had changed. Please add option to each set file to close EA automatically. This would prevent the EA opening trades in the same direction after a win because the trend could have changed.
So what are you saying I should instead of seeing which bots performed well over a week period to check every single day by checking in prop robot app and switch to daily instead of weekly to see which bots have the highest profit factor and just add those bots and cut any loser bots that are in a loss? Let me know if this is correct? In the course it talks more about checking weekly to see which bots performed best but if you are saying I need to add winning bots for each day to trade the following day. Also do you recommend I add these top winning bots after daily close or before daily open and look at bots that performed well the previous day?
Anyone else seeing huge losses from these prop robots this week? I went from $200k account up to $215k ($15k in profit in 2 weeks) then this week I am down to $205,500, Huge losses! Seems like Robots are very up and down. My strategy is to go in once per week and see which robots performed best for the prior week then the top 3-5 bots I add to my prop challenge for the following week trading. First two weeks of using the robots gains were amazing now the third week this week I am seeing huge losses especially today on USDJPY I lost like $3500 and in a $1600 floating loss overall. I am focused on a few pairs that seemed to perform well on the prior weeks. USDJPY, USDCHF, EURJPY, and XAUUSD. I have a number of USDJPY bots trading 1553814431, 538832091, 2013751115, 2067664102. Any Thoughts?
The instruction video shows i should able to set my trading day start and end times, but i don’t have any in my prop app download files once loaded on mt5…shows no setting for this.
suggestions or direction please. I am only interested to Trade New York open hours.
Do you change EAs before the start of Sydney session? Or just when your day starts depending on which country you stay in
Sorry Marin
just one more question, from your own trading experience with EAs, do you ever close your positions when you meet your objectives, or do you advise allowing the EA to close on its own, either through SL, TP or EA settings.
Regards
Tsholo
Hello Nigel, by default every strategy created in EA Studio has the news filter properties. You can modify the actual values when put the strategy on the chart.
Hi, let me address all the properties one by one.
R-Squared is a statistical measure that can be useful to gauge how the strategy’s performance is influenced by broader market movements. An R² of 0 means that none of the performance can be explained by the index used for comparison. An R² of 50 for example, suggests that approximately 50% of the strategy’s performance can be explained by fluctuations in the benchmark. Please check this post and the linked video to learn about R-Squared (this is a complex statistical measure and it’s not that simple to explain so better read the post and watch the video).
Return to DD (Return to Drawdown) is a measure that helps evaluate the risk-adjusted return of the trading strategy. This ratio is calculated by dividing the total return by the maximum drawdown experienced during the observed period. For example a ratio of 0.99 suggests that for nearly every 1% of drawdown experienced, the strategy generated an equivalent increase in value. With another example, if Return to DD is 3.57 it indicates that the strategy earned about 3.57 times the maximum percentage decrease experienced in account value. This high ratio is a positive sign, showing that the returns significantly outweigh the risks taken (measured by drawdown).
Profit Factor is the ratio of gross profits to gross losses over the specified period. It helps to understand how well the strategy performs in terms of profitability.
Regarding what would be good values, we don’t put that much attention to the actual values of the above parameters. The way we use the app is just to pick the top 3/5 for from the weekly/monthly charts and trade with them. Then we check the performance on a daily basis and make amendments to the strategies we trade with if there are new top performers in the top 3/5 for the period we’re looking at. This is the system we follow and it works for us but this is not a recommendation or the only way to do it. Some traders might use the above properties to select their strategies or might have their own way to manage the EAs.
It’s a personal choice how much you will be risking. As I mentioned above, by default the EAs from the Prop Firm Robots app come with a pre-set lot based on the settings you choose. The lot is different for each pair and for each strategy. We don’t use the Prop Firm Robots on live accounts and we don’t have insights on this. On our live accounts we use EAs from the Top 10 Robots app.
