Home › Forums › Ready-to-use Robots › Prop Firm Robots › FTMO Robot: Suggestions and Ideas
Tagged: Euro FTMO robot accounts
- This topic has 49 replies, 24 voices, and was last updated 8 months ago by Alan Northam.
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August 10, 2023 at 20:53 #190306Petko AleksandrovKeymaster
Hey traders,
Many of you have been trading the FTMO robot since I created the very first version. Based on your feedback, emails, replaies in the Forum I greatly improved it! Thank you for that!
So in this Forum Topic, I would be happy to hear more suggestions and ideas.
So far, what I have collected from e-mails and replies in the Forum is as follows:
- Take Profit for the Account (close all trades and stop trading if the challenge target is reached)
- Use on different currency pairs
- Set files for the lot size of the different accounts
Looking forward to your ideas!
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August 10, 2023 at 23:57 #190267Brian WatsonParticipant
is there a way add automatic Trailing Stop to each trade after the trade is in profit
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December 1, 2023 at 7:32 #217675Nicholas GroblerParticipant
+1 On this, I wanted to ask for this exactly. Some of the trades in V5 was nicely in profit, I was using AUDUSD, they did not hit TP and reversed to close in negative. So a trailing stop would be awesome.
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August 10, 2023 at 23:58 #190309Petko AleksandrovKeymaster
That is a good idea! I will check the possibilities and if that will bring better or worse results.
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August 11, 2023 at 13:02 #1903930xRowieParticipant
Hi Petko,
I have an idea, instead of using lot sizes, would it be possible to change it so you have the following options:
— Risk Mode: Percent or Lot SizePercent: Based on the account size, automatically calculate the position so it will use X% of the account’s equity (This would allow compounding)
Lot Size: The setting we have now to manually set the specific lot size.Kind regards
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August 11, 2023 at 13:06 #190409Alan NorthamModerator
EAs usually work best when they are updated once every month or two. It is easy to adjust the lot size at these times.
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August 17, 2023 at 12:40 #191762Petko AleksandrovKeymaster
Also, if you use % and not lots, it’s hard to compare a few EAs in the account. And this is what we do – we trade many EAs and we trade them with the same lot so we can see which ones are the top performers.
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October 26, 2023 at 4:16 #2072220xBitpoolParticipant
Once we get funded with FTMO, we’re not allowed to keep the trades opened overnight.
I imagine this is the reason why we have the “Entry time” settings in the EA
I have 2 questions:
1) Should we change these settings based on FTMO timezone? (in case they use different timezones depending on your region for example)
2) I’m not sure I understand correctly “keep the trades overnight”. I understand we have to close them before the night. Are these settings covering this case? Or is it just for the entry time but not the exit?
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October 26, 2023 at 4:18 #2072230xBitpoolParticipant
Here is the link to FTMO FAQ for this: https://ftmo.com/en/faq/do-i-have-to-close-my-positions-overnight/
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October 26, 2023 at 7:41 #207252aaronpriestParticipant
This would only apply to weekends for Forex pairs because overnight rollover is minutes and not 2hrs, however for indices it might be nightly, I’m not sure. I use the swing account with FTMO for just this reason so I don’t have to worry about closing for news or weekends.
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October 26, 2023 at 7:49 #2072540xBitpoolParticipant
Yes I was thinking of trying the challenge for a swing account for the extra safety. I must admit not looking for the news is a big plus.
A 1:30 leverage should be fine but if the robot is able to address the overnight / weekend stuff, I’d be happy to keep an eye on the important news to get access to a 1:100 leverage
This raises another question: does the calculation of the min position changes if the leverage is 1:30? As it’s less risky, one would maybe be tempted to multiply the lot size by 3 😏
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October 26, 2023 at 9:11 #207271Dygon LinuxParticipant
Please help me to have the best setup for the 80000€ challenge and the 10000€. I want to have all Ea that works in the challenges.Thank you very much!!
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October 26, 2023 at 14:26 #207347Alan NorthamModerator
Hi Dygon,
For the 80000 euro challenge set the EA properties as follows. This will limit risk to 1%.
Amount for a new lot = 2.4
Maximum position amount = 2.4
Amount to add on addition = 0.0
Amount to close on reduction = 0.0For the 10000 euro challenge set the EA properties as follows. This will limit risk to 1%.
Amount for a new lot = 0.3
Maximum position amount = 0.3
Amount to add on addition = 0.0
Amount to close on reduction = 0.0To determine which EAs are working the best in the current trading environment add all EAs to a demo account and watch them for one to two weeks. Then pick the EAs performing the best and add to your FTMO challenge.
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November 4, 2023 at 14:11 #209658dusktraderParticipant
Hello, just a wishlist item… in a future update to this bot, can you offer an option to base the risk on % of equity? That way over time it will take advantage of compounding in the account.
So, for example, I’d like to be able to enter 1% as the equity risk, and the bot would calculate this dynamic for each trade.
Thank you for considering!
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November 5, 2023 at 16:29 #209968dusktraderParticipant
Hello, can you please give your thoughts on trading through holidays and/or month of December? I noticed one of Petko’s videos was demonstrating a bot in Dec 2022 I think.
Have you by chance been able to backtest this through holiday/December months?
I’ve been advised that manual trading is a bad idea in December, but I’m curious your thoughts. Also, maybe this doesn’t apply to bots in general.
Thanks
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November 5, 2023 at 19:19 #210017dusktraderParticipant
Ahh! I see Petko already answered this question. Just watched this video: https://www.youtube.com/watch?v=QCNWanYW9Do
Spoiler: he doesn’t risk real money during December for manual or bot trading (at least per this video)
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November 5, 2023 at 23:47 #210080Alan NorthamModerator
Petko was testing a new EA and it happened to be December when the new EA was created so he tested it during December. All newly created EAs should always be tested using a demo account. This is why he used a demo account during December. It was not about not risking real money during December it was about testing a new EA using a demo account before deciding to move the EA to a live account.
Alan,
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November 6, 2023 at 4:03 #210127dusktraderParticipant
Thanks Alan. Are you saying that it is “okay” to pursue bot trading in December as well?
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November 23, 2023 at 9:05 #215359Arik ShaharParticipant
Hi,
I’m about to start a 100K challenge now
My question is can I use multiple profitable FTMO robots in the same account. I had 3 forex pairs with nice profits and I’m considering whether to trade with the three robots or with one of them each time.Thanks.
Eric
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November 23, 2023 at 13:42 #215411Ilan VardyModerator
Hey Eric,
Yes, you can. You can use as many as you’re comfortable using, based on the criteria who select (profitable trades, profit factor, etc.). Just make sure you adjust the entry lots and risk settings to match the account size and number of EAs, so you don’t risk too much.
Cheers,
Ilan
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November 28, 2023 at 13:00 #216635Brian PeltonParticipant
I haven’t purchased the FTMO Bot yet but how about this approach?
Start off with all 8. Lower the lots accordingly. Divide 1% by 8.
Then monitor the performance. After you have a pair that has losses after 5 trades remove it.
Now let’s say you remove 2. Now adjust your lots to accommodate those removals.
This will let you stay low risk but instead of just using the top performers you slowly remove the losers just like what
is taught in the courses but on a smaller scale instead. Thoughts? Has anyone tried this?
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November 28, 2023 at 13:32 #216646Alan NorthamModerator
Hi Brian,
Good to see you are thinging about risk management. This is a good low risk approach. Good idea! Keep thinking about ways to manage your account. Good to see you are thinking individually instead of just following others advise. This is the way to learn and to become a successful trader.
Alan,
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November 30, 2023 at 22:04 #217558LuceParticipant
I have an Deposit of 10k on an demo account and the balance is currently at 10.148,13
That should be a gain of 1,48%. But MyFxBook shows a gain of 0,41%:
does somebody now why?
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December 1, 2023 at 8:37 #217688Alan NorthamModerator
Go to Metatrader Account History below the chart and make sure you are showing all history.
Alan,
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December 1, 2023 at 14:32 #217889LuceParticipant
Its already set to show all history,
But even if it would not be like that, in MyFXBook it should still diplay everything.
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December 1, 2023 at 20:47 #217937Carlos BenavidesParticipant
I suggest that you keep the 8 bots running inhouse and share the details for my fxbook with us so we can check for the top 3 profitable for the last 5 days I got a VPS for 15usd per month and the resources are already full with just running the test bot on 8 charts I don’t think it can handle another mt5 account to trade the top 3…. This will really help us a lot to cut costs on a VPS. Ram is already at 90% and CPU usage at 60% to 80%
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December 2, 2023 at 7:42 #218096Petko AleksandrovKeymaster
With the new Version 5 we have included set files that risk exactly 1% from the Account size.
However, I guess you request is to use % instead of Lots, which is something we have been considering.
We will also leave that topic so nay other ideas how to improve the FTMO Robot will be taken into consideration!
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December 8, 2023 at 6:49 #219630Carlos BenavidesParticipant
I would like to request to add 3 or more pairs so we always have something to choose from specially on slow months like this.
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December 8, 2023 at 19:58 #219751Tanyeem gaziParticipant
hey petko can you put an entry delay feature for more easy uniqueness of the robot
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December 24, 2023 at 9:43 #222310Sammy TraderParticipant
First you buy a $25 per month VPS to test EAs on a Demo account. After a month, whatever is the 1st Top EA performed, stick to it while testing others on a demo account as things will change again after Holidays when market gets more volatile.
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January 12, 2024 at 9:26 #226403Hiu Kin YeungParticipant
My account is down 7% on a 100K challenge, I got $93700
Now I’m planning to switch to using the FTMO bot, want to have it run on low risk ,let it grind back to $97500 , then i wanna scale it up
Is there any setting I can twerk ?
Would the bot counter any problem while i start it off with just $93700 ?
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January 12, 2024 at 9:46 #226408Alan NorthamModerator
This is exactly why demo testing is important. You can follow the guidelines for demo testing from the following link:
The link shows how to trade the FTMO 5.1 robots but it applies to all FTMO robots as well.
To change the account risk from 1% to 0.5% (low risk) all you need to do is to cut the lot size in half.
Alan,
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January 18, 2024 at 15:46 #227677Abhishek ChibParticipant
Why asking for new feature. Live example : USDCAD was in profit and small New reverse the market. If we have Tailing SL or Slab wise TP then we will in profit. See screen shot.
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January 22, 2024 at 10:27 #228801Robert ForbesParticipant
Would it be possible to expand the range of trading accounts, or to allow us to put in a custom amount that automatically works out the setting?
For example, FXIFY is offering substantial discounts for challenges, and they have a $15000 account, and up to $400000. Also, Surgetrader has a $250000 account. It would be great to get settings for these account sizes.Thanks!
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January 22, 2024 at 11:28 #228815Alan NorthamModerator
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January 22, 2024 at 10:59 #228808heroking82Participant
hello.
i would like to turn off a FTMO robot instead of removing it from charts…
is it possible to do the slash (//) technique with FTMO robots?
if so which line. cheers
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January 22, 2024 at 11:26 #228814Alan NorthamModerator
Hi heroking82,
Go to the Expert Advisor properties box and uncheck the following:
Alan,
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January 22, 2024 at 15:44 #228861heroking82Participant
legend. cheers
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January 23, 2024 at 21:03 #229168Robby MesenbergParticipant
Hey there!
as we got the backtest Feature, is it clever to Trade them on funded Accounts?
Does anyone have experience on that?
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January 24, 2024 at 10:17 #229280Alan NorthamModerator
Hi Robby,
The FTMO app does the backtest so traders do not have to spend time backtesting the Expert Advisors. I take the top 1 to top 3 Expert Advisors from the FTMO app and apply them to an FTMO Challenge.
Alan,
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January 24, 2024 at 13:07 #229330Robby MesenbergParticipant
Thanks for your answer alan. I meant trading them on funded. Not Challenge. Do you have experience with that?
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January 24, 2024 at 19:22 #229398Alan NorthamModerator
Hi Robby,
Yes you can use the FTMO robots from the FTMO app on a funded account. The only difference is that the robot will automatically close the robot when the account reaches 10% profit. To keep this from happening you can turn this feature off in the robots properties dialog box. The other thing is you don’t want the robot to drawdown very much so you really need to protect the account from hitting the max daily loss limit and the max account loss limit. So I would suggest tightening these up as well. I would also suggest not risking more than 0.5% of account balance until after you have made 1 or 2% profit. Again this is to protect the account from drawing down. All these changes can be made in the robots properties dialog box. Since you have gone through the process of passing the challenge and the verification stages you do not want to loss your account once it is funded. So slow and easy to start until you get some profit, then you can increase the risk.
Alan,
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January 24, 2024 at 18:55 #229390Gilles RuelensParticipant
Alan
The top 1 -> top 3 is it from the weekly, daily, monthly?
thx in advance
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January 24, 2024 at 19:25 #229400Alan NorthamModerator
Hi Gilles,
I use the weekly time period to select the top 3. I did this at the beginning of the week. Right now my account is up about 1.6%.
Alan,
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January 25, 2024 at 3:10 #229467Trader 27Participant
Here’s a feedback and improvement suggestion after running ftmo robot on live funded account. During New York Close, brokers tends to widen the spread, yes entry protection is in place for the EA, however, an opened trade that’s still running will be stopped out prematurely by the broker. Hence is there a way to improve the robot to prevent such losses.
Thanks in advance.
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January 28, 2024 at 11:59 #230113MUSTAFA SAMEHParticipant
Hello
I have a suggestion regarding the filter for the previous period, whether a day, a week, or a month
Is it possible to add a date from to to so that we can, for example, know the profits and losses for two weeks, not just one week? -
January 28, 2024 at 23:39 #230250MUSTAFA SAMEHParticipant
Hello
I have a suggestion regarding the filter for the previous period, whether a day, a week, or a month
Is it possible to add a date from to to so that we can, for example, know the profits and losses for two weeks, not just one week?-
January 31, 2024 at 12:46 #230995vinnysvinylParticipant
Yes! I second this. A month is a little too long, a week a bit too short. Being able to manually select a range would allow us to hone in on the Goldilocks zone ; )
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February 19, 2024 at 19:29 #236158Patrick VerleeParticipant
Hi There,
Starting out here. I was wondering if you also have setfiles for EURO SWING accounts. That would be great for us, European traders unless there’s a reason for only using USD accounts.
Let me know. Thanks
Patrick
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February 19, 2024 at 20:27 #236174Alan NorthamModerator
Hi Patrick,
The same setfiles will work for both USD and the EURO. However, with the new FTMO app you do not get a setfile as the downloaded robots will have the correct settings.
Alan,
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