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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 😏
Here is the link to FTMO FAQ for this: https://ftmo.com/en/faq/do-i-have-to-close-my-positions-overnight/
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?
I just learned something: the decimal place is important
Example for USDJPY (3 decimal – 1 pip – 0.01)
Price: 149.856
TP: 150.752 => Price difference: 0.896. I was like “What!? 9000pips??” No: it’s actually 90 pips on a 3 decimal currency pair. I can stop sweating lol
Nevermind, I calculated the price difference between entry and S/L and T/P, and the price values are correct. The graph is weird, but the prices are okay.
Example for EURUSD:
Entry price: 1.05776 / SL: 1.06533 (price difference 0.00757, or in pips 75.7) / TP: 1.05183 (price difference 0.00593, or in pips 59.3)
The settings are SL 75 / TP 60, so it looks good!
Another example:
And the settings:
Should I change the settings? (I use leverage 1:100 if that helps)
Trades are taken. This is my myfxbook link: https://www.myfxbook.com/portfolio/ftmo-demo-challenge-200k/10491050
Started on Oct 22, and got 20 trades
Started on Oct 22, and 20 trades were taken. My myfxbook link if you want to check: https://www.myfxbook.com/portfolio/ftmo-demo-challenge-200k/10491050
Sorry the myfxbook link for the 5EAs was incorrect. Here is the good one: https://www.myfxbook.com/portfolio/mt4-45219580/10495701
You should be able to use 2 robots, as long as they are on different charts. Depending on the strategies, it can take some time before they make their first trade. Not trading is also trading :)
