Is there a reliable, proven, prop firm EA?
- Problem setting investor password at MT4
- EA for passing prop firms and funded trading?
- EAs That can Pass And manage Prop Firm Accounts?
If you are referring to Market EAs, then that I cannot answer. You will have to research the EAs and test them yourself to find out.
As for private individuals using their own EAs, programmed by them for their own strategies, then the answer is — yes there are many. However, none of those individuals are interested in proving their worth to you or showing their trade history. Why would they?
They are producing the necessary gains by themselves with the prop-firm funding, so they have no interest in sharing that skill, except maybe with family and close friends, or people they trust. They achieved the necessary skill and knowledge by themselves through dedicated effort, so most will expect that others should do the same if they want to succeed.
Has anyone actually used an EA for passing their prop firm challenge and maintaining their prop firm accounts over a long period of time? If so, do you have proof? Trade history on myfxbook, for example? Thanks!
You can lower risk to like 0.1% per trade (ie risk 100 dollars per trade on 100 000 account).... but then profit will be same low. You can diversify bu running many EAs, lower risk and put several strategies in place- but you risking being accused of high frequency trading.
With higher risk you just trade until you blow account. You need to consider what you take out and all costs like costs of chalanges. There are EA that can pass challanges, but those I tested never have 100% pass rate or anything close to 100%.
Some prop firms using server plugins to prevent EA from profiting ( as example strategies using trailing stops will not get as much profit as on demo or live account).
And do not expect anyone to give you EA with set file that will work on propfirm as if such exist noone would share it or sell it ;-) You must do your own research, tests, baktests and analyses of set files. Be aware of scammers when doing your research.
That is not true. You can easily trade with an EA with such low drawdown limits. Obviously, EAs that don't apply proper risk management will fail.
So, the issue is not because of EAs, but because of traders and/or coders that don't know how to apply proper risk management in their EAs.
That just goes to show that the EA does not apply proper risk management based on stop-loss and instead is only based on margin requirements.
Learn to properly apply risk management and the EA will pass challenges and continue to function long-term without any problems.
Again not true. I researched 43 prop-firms and only 5 of them discouraged the use of EAs.
However, those same 5 prop-firms, would still allow EAs, provided the EA executables were submitted for testing and evaluation, and if they passed, they would be allowed for live trading.
I researched prop firms in the USA, Canada, UK, Liechtenstein, Malta, Cyprus, Czech Republic, Israel and UAE.
EDIT: Obviously, I only researched prop-firms that offered MetaTrader as a platform. I did not research others that did not.
Take a few lessons from Prop Firms (Part 1) — An introduction
Fernando Carreiro, 2023.04.19 16:20
In this introductory article, I address a few of the lessons one can take from the challenge rules that proprietary trading firms implement. This is especially relevant for beginners and those who struggle to find their footing in this world of trading. The subsequent article will address the code implementation.
Has anyone actually used an EA for passing their prop firm challenge and maintaining their prop firm accounts over a long period of time? If so, do you have proof? Trade history on myfxbook, for example? Thanks!
Hi,
I am currently trying my second prop firm challenge for a 10k account using EAs. I blew up the first account in only 3 days.
I am using 4 different EAs on the account which all have some common traits:
low DD, money management and explicit S/L and T/P.
I almost blew up the account in the beginning after I set wrong lot size in the parameters.
This bot has now been running for 7 days and so far the result is +0.6% out of 8% in phase 1. This is a unlimited time prop firm account.
Many Prop firms accepts the use of EAs. If in doubt - mail them and ask.
However, there is always a risk that the Prop firm or Brooker will go bankrupt or your account will be violated, so my plan is to diversify and try several Prop firms with high recommandations and high score on TrustPilot.
-Skrulle / Newbie Forex Trader.
Image redacted by moderator.
I found out that allowed DD by prop firms is to prevent people using EA's
You can lower risk to like 0.1% per trade (ie risk 100 dollars per trade on 100 000 account).... but then profit will be same low. You can diversify bu running many EAs, lower risk and put several strategies in place- but you risking being accused of high frequency trading.
With higher risk you just trade until you blow account. You need to consider what you take out and all costs like costs of chalanges. There are EA that can pass challanges, but those I tested never have 100% pass rate or anything close to 100%.
Some prop firms using server plugins to prevent EA from profiting ( as example strategies using trailing stops will not get as much profit as on demo or live account).
And do not expect anyone to give you EA with set file that will work on propfirm as if such exist noone would share it or sell it ;-) You must do your own research, tests, baktests and analyses of set files. Be aware of scammers when doing your research.
I have written an EA that should have 100% pass rate (would pass in 10+ years of backtesting, only optimized on the past year, other 9 years being out of sample).
Awesome, right?
Here's the catch: it will take 6-9 months to pass.
Now, that's not that big a deal, given that pretty much all prop firms now have no time limit. But it's not going to get anyone excited. It's not sellable. It's not going to make my living this year.
But with $1M in prop firm funding? It'll generate a 6-figure income, almost completely passive.
To borrow from an old project management joke:
I can make you an EA that's fast. I can make you an EA that's consistent. I can make you an EA that's profitable. Now, which two of those do you want?
BTW, the strategies are no big secret. Just Google something like "high probability swing trading strategies" and you'll find dozens of proven strategies. All you have to do is get them coded into an EA.
Beating the market really isn't hard. People lose because they get impatient/unrealistic.
- www.mql5.com
I am using 2 different EA's to pass prop firm's Challenges on regular basis. Their DD is quiet low. So I apply them using a trade copier with multiplying the risk factors appropriately. This of course is achieved by a lot of testing and MM. Most Importantly I use EP protection in case anything goes south. And believe me things do go south.
The only EA which does the job all the time are the HFT EA's but then you have to abide by a lot of Hoops to fight the firm in actually getting the payout.
Anyone saying anything else is trying to sell you something other than advise.
If you are referring to Market EAs, then that I cannot answer. You will have to research the EAs and test them yourself to find out.
As for private individuals using their own EAs, programmed by them for their own strategies, then the answer is — yes there are many. However, none of those individuals are interested in proving their worth to you or showing their trade history. Why would they?
They are producing the necessary gains by themselves with the prop-firm funding, so they have no interest in sharing that skill, except maybe with family and close friends, or people they trust. They achieved the necessary skill and knowledge by themselves through dedicated effort, so most will expect that others should do the same if they want to succeed.
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