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Daily Drawdown Limit EA Prop Firm trading MT4

60 USD

Demo downloaded: 35

Published: 26 November 2022

Current version: 1.0

Daily Drawdown Limit EA Prop Firm trading MT4

Name: Daily Drawdown Limit EA Prop Firm trading MT4
Price: 60.00 USD
Author: Mathieu, Frede Alfaro

Utilities
Mathieu, Frede Alfaro
Version: 1.0
Activations: 5

If you found this EA, it's probably because you want to get a funded account with a prop firm, but you see a rule that most of traders fear : Maximum Daily Drawdown.

I've been through this problem myself as I'm a prop firm trader and I've made a bot to solve this rule, and you can get it to solve this problem too.

How does it work ?

When you first setup this EA, you need to input the initial deposit which corresponds to the size of your funded account. For exemple if you get a 10k$ funded account, you input 10k.
Then, you input the maximum daily drawdown. In most prop firms, the daily drawdown is 5%, but to have a little margin you can input 4,8%. This means that the bot will stop any trades if you lose 480$ in a day. This value never changes as the calculation is not made with your balance, it is made with the initial deposit because most prop firms work that way.
When a trade opens, it will automatically display your daily profit/loss.
It will automatically close every position if your daily drawdown EQUITY reaches the amount you've set up before.
If a position opens it will directly close it and this will be the case until 11PM CEST.
When we go past this time, the daily profit/loss comes back to 0 and it can start trading again by accepting new positions.

This EA is perfect for those who do copy trading or EA trading with a prop firm because it will follow the rules the prop firm wants you to follow.

If you have any questions about it you can contact me. I answer in the day !

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Alexandre Henrique Vassoler 2022.12.02 02:09 #

User didn't leave any comment to the rating

516

Reply from developer Mathieu, Frede Alfaro 2022.12.02 09:32 #

Hello Alexandre ! 1- If the data still appears on your screen and you don't have the EA attached anymore, can you try deleting the chart and opening it back ? It should delete the data from the screen. 2- If it's not resetting when the new balance is entered, can you try detaching the EA and attaching it back to the chart ? Don't worry, the balance Is updated automatically while you trade !
Hope I answered you question well ! Don't hesitate to come back to me.