[Alan Northam]

Hi Carl,

Can you tell me more about what you are doing. How are you selecting the robots. What robots are you using. What risk are you using. What prop firm are you using. How long has the robots been trading.  Account size.  How much are the losses.  Are you tracking the performance with FXblue? Anything else you can tell me would also help.

Alan,

[Alan Northam]

Hi dani,

You would use a lot size calculator.  The following is the one I use all the time:

https://www.forextime.com/eu/trading-tools/trading-calculator/pip-calculator#pip-calculator

Alan,

[Alan Northam]

Hi dani,

The problem as to account size is used in determining the drawdown of the asset in question is resolved by expressing the drawdown as a percentage. So whatever your account size is the drawdown will be 9.34%.  As an example, a $1000 account would have a drawdown of $93.40.

Alan,

[Alan Northam]

Hi Gareth,

I am happy to see you are having success with the EAs you have created with EA Studio.  Yes, the stats will change until you get more trade data, this is expected.

I thought I would let you know that my Infinity Forex Fund Evaluation has hit its profit target and the account is now funded using my strategy of trading EAs I created using EA Studio.

https://sandbox.eatradingacademy.com/forums/topic/ongoing-challenge-10-eas-from-ea-studio/

So keep up the good work and you can have success as well using a strategy similar to mine!

Alan,

[Alan Northam]

Hi Traders,

WEEKLY REPORT

On Tuesday 05/14/2024 this Infinity Forex Fund One Step Evaluation hit the profit target of $110,000.  As a result, this account is now FUNDED!  The previous twelve weekly reports in this Ongoing Challenge outlines the process I went through to achieve this goal.

Statistics:
Profit = $10,002.36
Gain = 10.00%
Average 30 Day Profit = 3,158.64
Average 30 Day Profit (%) = 3.3%

The Expert Advisors used to pass this Evaluation and obtain a FUNDED account I created using EA Studio.  These Expert Advisors are the same Expert Advisors I have been using for the last twelve weeks without any upgrades or optimizations.  The only thing I changed over the last twelve weeks were the lot size.

 

This chart shows the statistics of this account since inception:

 

This chart shows balance line of the cumulative profit since inception:

 

The following the the Certificate of Acheivement:

 

 

Alan,

[Alan Northam]

Moin,

The list of brokers on the eatradingacademy website are brokers they use.

Alan,

[Alan Northam]

Hi Traders,

WEEKLY REPORT

Week of May 5, 2024 through May 11, 2024. The following are the twelfth week results of trading 10 Expert Advisors (EA) I created using EA Studio. These Expert Advisors are being traded on my Infinity Forex Fund (IFF) 100K Algo One Step Evaluation account. I analyzed the results this week using FXblue where I sorted this past one week trading results by sorting the “Net pips” column from most pips gained to most pips lost this past week. I then looked at the Net Profit column to determine profits and losses for the week. The following are the results along with the changes made for trading next week:

This past week ended with a profit of $1.91 and an account balance of $109,680.18. The price target to become a funded account is $110,000. To reduce risk of this next week of significantly drawing down this account, since it is so close to hitting the price target and becoming funded, I am going to continue to limit the risk to the account to 1%.

There were six profitable currency pairs this past week having a profit factor of 1.2 or greater. However, two of the pairs, NZDUSD and EURGBP, will not be traded this next week because over the last twelve weeks they produced an overall loss of -0.08% and -0.01% respectively. I will adjust the lot size of each of the four currency pairs I will be trading this next week to have an account risk 0.25% for a total account risk of 1%. The other six currency pairs will have their lot size adjusted to 0.01 lots.

USDCAD(+4.04%): 0.80 Lot size
USDJPY(+1.020%): 0.39 Lot size
EURUSD(+1.94%): 0.32 Lot size
USDCHF(+0.85%): 0.41 Lot size

AUDUSD(+0.93%): 0.01 Lot size
GBPUSD(+0.52%): 0.01 Lot size
EURJPY(+0.28%): 0.01 Lot size
EURGBP(-0.01%): 0.01 Lot size
NZDUSD(-0.08%): 0.01 Lot size
GBPJPY(-0.14%): 0.01 Lot size

Note: The percentages in parenthesis show the percent gain of each currency pair over the last 12 weeks.

This first chart shows the trading results for this past week:

This chart shows trend line of the cumulative profit since inception:

This chart shows the statistics of this account since inception:

This chart shows 11 of the last 12 weeks of this Evaluation have been profitable:

Alan,

[Alan Northam]

Hi Calebfg256,

Answer 1:  Before you select a Prop Firm robot you need to make some choices to set up risk and profit target.  See image below.  You need to select the size of your challenge.  You need to select the Max loss, Max daily loss, and Profit target according to the requirements of your challenge.  Then you need to determine risk, Low risk, Medium risk, or High risk.  Then you need to decide if you want the robot to trade during news events so you need to select the New filter you wish to use.

 

Answer 2:  If you select robot EURUSD M15 for example, then you need to put it on a M15 chart.

Answer 3:  To pass a challenge, or to be a successful trader using a brokerage account with robots requires three things:  1.  A good robot.  The Prop firm robots are very good robots and have been backtested to show they can product profits.  2:  A trading strategy.  It is a well know fact in professional trading that all traders need to develop their own trading strategy.  What works for one trader does not often work for another.  If one strategy was to work for everyone, that trader could sell his strategy and we would all get rich.  However, it does not work like that.  The majority of traders end up losing their accounts.  So, my advise is to practice on a demo account until you figure out your strategy for trading.  The demo account could be with a forex broker or the prop firm FTMO has a demo account.  3. Risk diversification:  Professional traders never risk more than 2% or their account on any one trade or robot and they never risk more than 6% when trading multiple robots at one time.  Professional traders never put all their eggs in one basket.  So trade more than one robot so that if one robot is drawing down the other robots might be profiting offsetting the loss.

Hope this helps!

Alan,

[Alan Northam]

Hi Wolfgang,

The app is updated every hour and shows profits and losses. Here is the problem and some education for you.

The historical data your Expert Advisors use with your metatrader terminal is not the same for all brokers/prop firms. The reason is with the forex market there is not one single source where all the brokers get their historical data. So it is up to each broker to go out into the markets and get their own data. They do this by getting trading data from various banks around the world. Unfortunately, all banks / prop firms do not get their trading data from the same banks. As a result every brokers data will be somewhat different. So when you have a particular EA and you use it with different brokers you will get different results. So when EA on broker A is profiting the same EA on broker B could be losing, AND, when the EA on broker A is losing the same EA on broker B could be profiting. The problem is not the EA it is the historical data used by the brokers.

Knowing this, the app where you got the EA uses broker Blackbull for its historical data. The results shown in the app shows the performance of the EAs using Blackbull historical for educational purposes. You need to read the at the bottom of the app. While the EAs in the app show certain performance, because each brokers historical data is different, it does not mean the same EAs will be profitable at the same time with the broker / prop firm you are using. So how do we successfully use these EAs? Good question! Here is the answer: You need to test the EAs with your broker/prop firm. So how do we do this? Here is how I do it: I install all EAs I want to trade with the broker I plan on using and use a 0.01 lot size so the results do not significantly cause a drawdown. I then let the EAs run for one week, sometimes two weeks. I then review the results to determine which EAs are profitable with the broker/prop firm I am using. I will then chose these EAs to trade and change the lot size to represent the account risk I chose to accept. Currently I am testing 50 EAs I created with a new prop firm I plan to use. I always do this to reduce risk. This is all part of money management.

You can be successful using the EAs from the Prop Firm robots app or the Top 10 EA app, it just depends upon how you do it. Success comes from testing with is part of money management. Money management is necessary to run a home, a business, or in trading.

Hope this helps!

Alan,

[Alan Northam]

Hi Ronald,

If you are using MT4 and see a smiley face in the upper right corner of the trading chart or if you are using MT5 and see a blue hat then the EA is working correctly and you just need to give it more time to start placing trades.

Alan,

[Alan Northam]

Hi David,

The text in the graphic says “Minimum equity protection activated”.  This happens to protect your account from further loss.  You need to change the “Minimum equity (currency) setting in the EA properties box.

Alan,

[Alan Northam]

Hi Pak,

That decision is up to you.  The “Top 10 robots” are updated every hour.

Alan,

[Alan Northam]

Learning curve :o)  We all go through it.  Sometimes painful!

[Alan Northam]

Hi Carl,

FYI – The .b is just part of the name of the chart as can be seen in the chart tab and in Market watch and has nothing to do with Expert Advisors.

Alan,

[Alan Northam]

Hi superalf,

I think so!

Alan,

[Author]

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