Earning the required profit challenge
In prop trading, which is offered by certain companies, individuals have the opportunity to obtain a funded forex account by making an initial investment. After successfully navigating through two challenge stages and demonstrating their proficiency in risk management, traders can commence trading with the capital provided by the respective company. The portion of profits earned is shared with the trader. Given the constraints associated with these types of accounts, a trading Bot is employed to execute transactions, aiming to successfully progress through the two challenge stages. The key factor contributing to the Bot’s success lies in its adept capital management and the effective implementation of Permitted loss limits specific to prop trading accounts
Certain prop trading firms stipulate a specific time frame for account progression, which can elevate the risk associated with passing the challenge. We recommend considering the “Funded Next” prop trading option as it offers several advantages, including revenue calculations based on your account balance, the absence of a time limit for challenge completion, a long-standing presence in the market with a track record of regular payments, and no restrictions on using trading Bots. Additionally, if you decide to acquire an account from Funded Next via the provided link, you’ll enjoy a 50% discount on the challenge fee. Should you require assistance, feel free to reach out to us on Telegram @fexpert_io.
?Why use bot prop
The purpose of Propy Bot is to comply with the rules of loss limit and capital management in Prop Trading and finally pass two challenge stages within two months and after that you will receive a Real account and you can earn real money. The most important advantage of funded accounts is the lack of user capital. The trader trades with the prop company’s capital and receives a large portion of the profit. The number of people who can pass the two-stage challenge and earn real money is less than 1% of all people who buy a prop account. You can pass this challenge without any worries by using the bot to pass the Proppy challenge. Note: The appropriate prop account capital for the bot to pass the challenge is at least 5000 dollars.
Due to the use of real-time market data by bots designed by Forex Expert, unfortunately, Backtest cannot display its performance clearly. This is due to the lack of important data used by the bot in the history of the market. But at the same time, you can check the performance of the bot on our account and make a purchase if you wish. Due to the restrictions imposed on prop accounts, such as maximum daily and monthly losses, the settings of this bot have been made with the least possible risk.
This bot runs on Metatrader 4 and we need a Windows server with high uptime to run it. This server must be optimized for this because if there is a problem with the server, such as lack of access, it can disrupt the bot’s work. If you buy Phoenix Expert, the server will be provided to you by Forex Expert by paying the relevant fee. Due to the prevention of copyright violations, all botsand experts presented in Forex Expert are executed only on Forex Expert servers on your account.
There are the same rules in most of the prop trading providers. In the first stage, the trader must be able to earn 5% profit within a month and also observe the daily and monthly loss limits. The daily loss limit is 5% and the monthly loss limit is usually 10%. After that, in the second stage to prove your ability, you have to earn 5% profit again, with the difference that at this stage you usually have two months and you are still obliged to observe the daily and monthly loss limits.
The most important advantage of prop trading is not needing initial capital. You can get good capital like 10 thousand, 20 thousand or even more up to 1 million dollars by preparing a prop account from a prop trading service company and if you are a good trader May you earn a lot of money. But you will get real income only when you can pass its challenges and make good deals from then on.
The most important thing to consider is to stick to your personal strategy. You should set rules that include account limits and act like a forex bot. Identifying losses can sometimes keep you in the game. Therefore, you must develop the ability to accept mistakes and identify losses so that you can stick to the account limits.
– In the image below, you can see the function of the bot to pass the prop and fund challenge during one week, which was prepared by mql5.com. You should pay attention to the fact that the goal of the bot is to pass the challenge and do it with the least possible risk. manages, so making profit in this phase is not one of the goals of the bot:
The maximum registered Drawdown is 0.7% and the maximum margin used is 0.7%.
– The image below shows the growth graph of the account balance and its open transactions:
– Finally, the graph below shows the Drwadown process, which is the most important factor for passing the Propy and Funded challenge, as you can see, in the end, the security of the challenge is passed and the potential loss of the bot does not even come close to the Prop account limit: