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The answer to your question is found in the “Forex Trading with EAs + 30 Best Strategies” course that you can download and watch on Day 3 of the 21 day course. Basically what you do is wait for 5 days after you start trading the Portfolio’s then you look for the strategies that have produced losses and have 5 or more trades. These trades are then eliminated from the portfolio. How to do this is explained in the course you are to watch on day 3.
Make sure you have installed the EA properly and that the icon in the upper right corner of the trading window shows a smiley face for MT4 or a colored icon for MT5. If so then it should be ready to make trades. I monitor the FTMO EURUSD robot and the last time it placed a trade was on 09/14/2023 at 15;30. What size account do you have and what are your lot size settings.
Here are recommended lot sizes for each account size:
200K Account: Amount for new position = 6.0 / Maximum position amount = 6.0
100K Account: Amount for new position = 3.0 / Maximum position amount = 3.0
50K Account: Amount for new position = 1.5 / Maximum position amount = 1.5
25K Account: Amount for new position = 0.75 / Maximum position amount = 0.75
10K Account: Amount for new position = 0.30 / Maximum position amount = 0.30It is best to put all the EAs in a demo account. Wait 3 to 5 days and move the EAs with more than 3 closed profitable trades to a live account. This indicates the EAs are at least trading once a day if you are waiting 3 days or at least once every other day if you are waiting 5 days. Then every 3 to 5 days look for the top profitable EAs in the demo account and place those in the live account replacing the EAs in the live account not performing well.
Q1) Do the EAs work on any Propfirm or only FTMO?
A1) YesQ2) What is the overall success of the EAs? Is there a way to see trading results of recent weeks?
A2) Review my demo trading at https://platform.algotradingspace.com/forums/topic/ftmo-demo/Q3) Does the company assist with set up of the Robots and VPS?
A3) We have videos on how to setup the robots on MT4 and MT5. VPS services have videos on how to setup VPS. We can assist based upon our knowledge of the VPS service you choose to use.Q4) Are these Robots available for purchase on MLQ5 or they are available only here?
A4) The robots are only available on the eatradingacademy website.Q5) If I use the Robots and don’t pass Propfirm challenges, are there free resets or just the 30 day money-back guarantee?
A5) You will need to read the rules for the particular prop firm you choose to use.Always use a demo account until you are comfortable trading robots before using a live account!
EA Studio is the easiest EA generator to learn to use. I use it all the time to create profitable EA’s. EA Studio is web-based and you can run multiple EA Studio generators at one time. So you can have multiple EA Studio’s running on multiple computers. Express Generator is an add-on to EA Studio to allow creating EA’s much faster but is very difficult to learn to use. Express Generator runs from the Power Shell much like using command prompts. FSBpro is mostly used when a trader wants to create an EA manually but can can be used to automatically create EA’s. FSBpro is more difficult to learn to use than EA Studio. FSBpro is a software program you must install on your computer and you can only install it on one computer but you can create multiple EA’s at the same time.
Bottom line: If you want to learn to create EA’s automatically then EA Studio is the best choice.
There is a free course teaching how to use EA Studio.
There is a free course teaching how to use FSBpro.
Hi Chris,
Its good to hear you are having success with the EA’s. Can you share which course you are referring to and more about the results, such as, how much profit over what time frame and why you had to make some tweeks and what tweeks you made, etc. I am sure other traders would like to know more about your success. Please share!
Alan,
Petko does use VPS.
Some prop firms will allow EA’s but some will not allow them in certain account types. Usually you can find out if they allow EA’s by reading the rules for the challenge. I do know that FTMO does allow the use of EA’s.
It is often advised if you are using a funded account that a VPS should be used. However a VPS is not necessary if you keep your MetaTrader MT4 / MT5 active 24 hours a day during the trading week. The problem occurs if there is a power outage or your internet service goes down. For this reason it is advised to use a VPS or some other form of backup so the EA’s will continue to trade.
I just wanted to share some thoughts about RRR.
Books written for the retail trader will say the RRR should be 2:1 or even 3:1. However, it is a known fact that the approximately 80 – 90% of retail traders lose all there capital within the first year of trading. So having a 3:1 RRR doesn’t help any. Here is what often happens: The market will go through a drawdown that stops out the trade, then the market will resume moving in the direction of the trend and the trader loses out on the profit from the market moving in the direction of the trend because the trade was stopped out during the drawdown.
On the other hand, the EA’s created by FSBpro are backtested to show a profit even though the RRR may be less than one to one. Here is what often happens: The market will go through a drawdown, but because the SL is set further apart from the price the trade was entered at, the trade doesn’t get stopped out. Then when the trend resumes the trader is still in the trend and the trade and because of the RRR being less than one to one the trade hits the TP sooner and the trader walks away with a win.
As a result, it is shown that having a RRR greater than one to one can hurt the trade, whereas a RRR less than one to one can help the trade.
So, I would not be concerned about the RRR.
I understand that coming from the retail trader world it can be difficult to start trusting a RRR less than one, but the reality is a RRR less than one can provide a better trade.
Also to protect your account the EA’s have a protection in that if the account loses 4.9% of the original account balance it will stop trading.
Good to hear you are backtesting the FTMO strategies. To get a good idea how the EA’s will perform over the long term requires a long term backtest. To get a good idea how the EA’s will perform backtesting should be over a period of at least one month. I have been backtesting the FTMO EURUSD strategy over the month of August. To do this I used the free FTMO demo account twice for a total of 30 days of testing. The results I get is that the EA has produced a profit of 3.78% for the month. Doing some quick math says that I should hit the 10% price target in approximately 2.5 months. I will continue my testing.
The reason for sharing my results is that I noticed over your one week backtesting you showed EURUSD as a losing strategy. Whereas my backtesting over the last month shows a nice profit. The FTMO strategies were created to be profitable over the longer term and my results vs your results shows that the longer term backtesting will produce profitable results as the EA’s were created to do.
Reference: https://platform.algotradingspace.com/forums/topic/ftmo-demo/
I like the idea you are backtesting with two different brokers. The reason the top 3 keep changing is your backtest time is not long enough. You should backtest for at least 30 days before picking the top EA’s to move to a different account.
