Cap Your Daily Drawdown at 2 % in MT5 — Two Practical Paths (Checklist Inside)
“Passing a prop‑firm challenge isn’t about hitting +10 % once — it’s about making sure you never hit –5 % in a single day.”
In this tutorial you’ll learn two concrete ways to hard‑limit daily losses to 2 %: one plug‑and‑play (using the DoIt GBP Master EA) and one DIY (a printable checklist that works with any EA or manual system). No hype, just tools that keep you trading tomorrow.
1 · Why Daily‑Loss Rules Fail — and Accounts Follow
1‑1 · The Unforgiving Math of Prop‑Firm Limits
FTMO, MyForexFunds and most serious evaluators share the same trap: breach 5 % daily drawdown and the account is closed instantly — profit wiped, fee lost. In 2024 FTMO reported that 68 % of failed challenges die on drawdown day one; the trader never even gets to test long‑term edge.
1‑2 · The Four Classic Ways Traders Break the Rule
- Lot‑size creep after a winning streak (“I’m hot today”).
- Martingale revenge to recover the first loss.
- News FOMO: trading uninformed through CPI or FOMC.
- Manual overrides: disabling an EA mid‑session and doubling down manually.
Each error is emotional — so the fix has to be automated or at least pre‑committed. That’s what the next two sections deliver.
2 · Path A — Plug‑and‑Play Control with DoIt GBP Master
2‑1 · How the EA Monitors Equity in Real Time
- Every new tick, the EA calculates floating P/L + closed P/L for
- the broker day (server midnight reset).
- If equity ≤ Start‑of‑Day Equity × (1 – DailyLossCap%) → it triggers Pause Mode.
- Pause Mode instantly closes open baskets if the optional checkbox is on, then blocks new entries until the broker day rolls over.
2‑2 · Setting Your Own Cap
| Step | Action |
|---|---|
| 1 | Load the EA on GBPUSD H1 (any broker, ECN recommended). |
| 2 | In inputs, set RiskPerTrade = 0.5 % (prop‑firm safe start). |
| 3 | Set DailyLossCap = 2 %. |
| 4 | Choose CloseOpenTradesOnCap = true if you want all exposure flat immediately. |
| 5 | Hit OK → done. |
Result: Even a Black‑Swan spike can’t cost you more than 2 % that day — the account lives to trade another session.
2‑3 · Real‑World Footprint
Case‑study extract: During the 3 April 2025 PMI surprise, equity dipped −1.9 %. The EA hit the trailing stop, calculated equity at –1.96 %, and blocked further entries. Balance end‑day: –1.96 %. Trader avoided the −4 % melt‑down that took out three other GBPUSD bots the same morning.
3 · Path B — The Manual Checklist (Works with Any System)
If you prefer running multiple EAs, discretionary trades, or a platform other than MetaTrader, the DIY route is your hedge.
3‑1 · The Four‑Point Daily Drawdown Checklist
- Pre‑session equity screenshot — log start‑of‑day equity in a journal or spreadsheet.
- Hard stop‑trading alert — set a broker‑side equity alert at –2 %. Many platforms let you trigger push or email notifications.
- Exposure thermostat — never exceed two open trades / 2 R combined risk until equity is ≥ +1 R.
- Quarter‑day equity checks — times: 09:00, 13:00, 17:00 London. If equity ≤ –1.5 %, cut size in half.
3‑2 · Why It Works
- Mechanical thresholds reduce in‑session negotiation (“just one more trade”).
- Checking four times a day prevents slow‑bleed days from sneaking below –5 %.
- Written commitment shrinks the will‑power tax. If you can’t obey the paper, the challenge isn’t the account — it’s you.
4 · Comparing Both Paths
| Feature | DoIt GBP Master | Manual Checklist |
| Automation | Full, per‑tick | Human‑executed |
| Max trades allowed | 1 basket, coded | Your discipline |
| Platform | MT5, MT4 | Any |
| Effort | 2‑minute setup | Daily logging + alarms |
| Best for | Single‑pair focused, hands‑off | Multi‑EA or mixed manual setups |
Pro tip: Combine both — run the EA on your prop‑firm account and keep the checklist taped to your monitor for any discretionary add‑ons.
5 · FAQ — Daily DD Controls in Prop-Firm Environments
Q1. Can I set DailyLossCap below 1 %?
Yes. Any value from 0.5 % to 5 % is accepted. Below 0.5 % the EA ignores trades because spread cost exceeds risk.
Q2. Does Pause Mode resume automatically?
Yes. At broker midnight, the EA resets the daily counter and reactivates trading for the new session.
Q3. What if I want to run multiple EAs?
DoIt GBP Master tracks its own trades — just set the Magic Number and you're good to go.
6 · Download the Drawdown Checklist (PDF)
Get the 1‑page EA Survival Checklist →
Print it, tape it to your wall, and sign it before your next session.
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