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PROP FIRM
* Smart Prop Trader ( Free Coupon Code: SPT155 ) : [ Ссылка ]
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Hello Traders,
Welcome to the second part of the forex trading journey using prop firm ea pro V2. In the last two weeks, I have been running this expert advisor, and the drawdown has been very small. I've been watching to see if this expert advisor can be used to take on prop firm challenges.
I ran three currency pairs in this experiment, namely gold to US Dollar, British Pound to US Dollar and Euro to US Dollar. I use the H1 time frame.
On July 6, 2023, I started a trial of expert advisor prop firm ea pro V2 with a small capital of only 1000 USD. Usually, prop firm challenges provide minimum capital of 10000 USD. Here, I will look at the biggest drawdowns in USD terms and compare the risk of drawdowns on each prop firm's challenge capital nominal.
To view trading reports, I use MQL5 reports. From an initial capital of 1000 USD, the drawdown that occurred was not too large, only around 7.4%, or around 76 USD.
Let's take a look at the allowable drawdown when running a firm prop challenge.
First, I will look at the daily maximum drawdown with a capital of 10000 USD. The maximum drawdown allowed is 400 USD.
Secondly, with a capital of 25000 USD, the maximum allowed daily drawdown is 1000 USD.
Thirdly, with a capital of 50000 USD, the maximum allowed daily drawdown is 2000 USD.
And of course, the bigger the capital, the bigger the allowable drawdown.
From this information, it can be concluded that for 2 weeks running the expert advisor prop firm EA pro V2, the drawdown that occurs is still below the maximum drawdown loss limit.
However, keep in mind that to take part in this prop firm challenge, there is a profit target that must be achieved. Usually, prop firm challenges have a time limit to reach a specified target. However, in Smart Prop Trader, you are not limited by the length of time it takes to reach profit. This means you have more freedom in setting the level of drawdown risk without having to think about the time limit to reach the profit target.
If you are interested, you can check the Smart Prop Trader registration link in the video description.
Returning to the MQL5 report, a drawdown of 76 USD was made from a lot size of 0.01, or the smallest lot size. This lot size setting has an influence on the drawdown that occurs. I suggest using a lot size of 0.01 if your prop firm challenge capital balance is below 50000 USD.
The drawdown of 76 USD came from the three currency pairs that I ran.
For two weeks, a total of 88 trades have been opened with a profit ratio of 87%.
It was recorded that there were three transactions that suffered losses in a row.
The average profit earned was 2.70 USD, while the average loss was 2.55 USD.
The average trading duration ranges from 30 minutes to 11 hours.
Okay, that's the second part of the trading report that I ran on the expert advisor prop firm EA pro V2 trial.
Have you also run this expert advisor? I want to know your opinion. Write your opinion in the comments column.
You can also join the Telegram group listed in the video description to become part of the HG Trade community. In this community, I have also shared my collection of expert advisors.
In the next video, I will provide a development report on the trading expert advisor that I run. So, don't forget to like and subscribe so you don't miss the latest information.
Thank you for watching to the end. See you!
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