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Hi John,
Thanks for your kind comment!
I don’t use third party EA’s. For protecting the equity of my account I use Forex Strategy Builder Pro which is great for generating EA’s that will automatically close at predetermined equity levels and profit levels.
Also, I don’t have any news to report on the money management updates at this time.
“Is the FTMO trading bot subject to continuous updates, and do users need to replace it on a monthly basis?”
To determine if the FTMO Robot needs to be replaced I backtest it with EA Studio and look at its monthly profit. As long as the Robot continues to show good profit on a monthly basis there is no need to replace it. Lacking access to EA Studio you can also backtest the Robot using MT4 or MT5 Strategy Tester. The following is the results of my monthly backtesting using MT4 Strategy Tester:
11/01/2022 – 12/01/2022 769.50
12/01/2022 – 01/01/2023 -157.80
01/01/2023 – 02/01/2023 214.50
02/01/2023 – 03/01/2023 214.50
03/01/2023 – 04/01/2023 914.10
04/01/2023 – 05/01/2023 593.70This backtest shows the results of the EA Studio backtest using the broker data instead of the Premium data and synced with the long and short swaps and commissions.
EA Studio Backtest 2
Here is the results of my test to compare the backtest of EA Studio and MT4. As can be seen EA Studio’s results are close to MT4’s results.
EA STUDIO BACKTEST
MT4 BACKTEST
How long does the “Account Percent Stop” indicator stop trading?
Does this indicator just stop trading for the EA it is attached too, or does it stop trading of all EA’s in open chart windows in the MT4 terminal.
Maria: I have been trying to recreate your problem but I cannot get the Downloaded Data bars and the Output Log to be different when I perform the steps above. Did you close and reopen FSB? I will be away from home in about 2 hours so I won’t be able to do much more troubleshooting until tomorrow. Maybe Petko will see this by then and help you. If not, I will check back tomorrow.
Be sure to try the steps in the previous post.
Maria: Go to Control Panel>Data Sources and click on Open Data Directory. Then Look at Available Data Sources and select the appropriate data source. Then click on Open Data Directory. Then openM15 files using a spreadsheet like Excel or buy using notepad++. I selected these two options over just using notepad because they will count all the lines of data. Make sure all 200000 lines of data are there. If only 50,000 lines are there then that is the problem. If all 200,0000 lines of data is in the file then do the following: Go to Control Panel>Data Sources and click on Reload Data Files. See if this fixes the problem.
Notepad++ can be downloaded for free.
Maria: Go to Control Panel>Data Horizon and change Use Start Date Limit Year to something like 2000. Output log will not update until you select something other than Data Horizon such as Profiles or Symbols. Look at data log and you should see Data File is Loaded increase.
Patrick,
If you want to trade 24/5 then you do not need to do anything with the Trading Sessions option. If you want to limit trading to certain hour then all you need to do is to adjust the range of trading hours for the days you want to limit trading. If you do not want to trade on Sunday to avoid high swaps then all you need to do is to check the box “Do Not Trade on Sunday”.
Hope this helps!
AlanARRR,
Petko has demonstrated that the results of using candle data from your broker and using the premium data is the same as long as you update the Long Swap, Short Swap, and Commissions from your broker with the default Long Swap, Short Swap, and Commissions in EA Studio.
Alan,
Hi Petko,
Today I reviewed your updated course adding the semi-automatic trading strategy. However, I could not find the link to the EA you used. Also, the Conclusion video was not accessible as it says it is a private video.
Cheers,
AlanI am no longer using FTMO as it requires to pass target price in one month, its Swap fee’s are too high, it has a daily max loss requirement, and the scaling up requirements mean you have to have a profit for four consecutive months and it only scales up by 25 percent. These requirement are too restrictive for me. Even after having done all the hard work of becoming an FTMO Trader you can still lose your account if you happen to fail the maximum daily drawdown limit. In my opinion this daily drawdown limit is too restrictive for using EA’s. The reason for using EA’s is so you don’t have to sit and monitor the trades everyday. However, with this restrictive daily drawdown it is still necessary to interact with the daily trades so as not to violate this drawdown requirement. This is not something I want to do. So, until the EA’s can be programmed not to violate a specified daily drawdown requirement of a prop firm using EA’s with a prop firm is not realistic. I have moved on to trade my own account where I can use EA’s without all these restrictions and not have the constant worry of losing my account for violating a restrictive requiremnt. My opinion!
Augustine – This is exactly why I have been pressing Petko (see “EA Studio Updates” topic) to have the overall risk in percent and in dollars added to the Portfolio Stats. This way it would be possible to set the proper lot size so that the overall risk i.e. daily drawdown is not violated. Right now this has to be done manually looking at the SL of each of the 10 strategies within the Portfolio and calculating total risk and then set the lot size of the Portfolio so the daily drawdown risk is not violated.