PrizmaL - Settings / F.A.Q

Question:
Would you be willing to assist with the setup? I haven't set up an EA before.
Answer:
Yes, of course. I can guide you through the setup step by step and explain everything in a simple and clear way.

Question:
Is there a preset file available for configuring the EA?
Answer:
All settings are used by default. The only parameters you need to adjust are the risk level and the broker time (GMT). For correct GMT setup, it’s best to contact me directly and I’ll help you configure it properly.

Question:
Do I need to adjust my GTM settings to accommodate daylight saving time?
Answer:
No, no adjustments are required. The EA automatically handles daylight saving time, so your GMT setting remains the same. However, it’s still recommended to contact me, as each broker may handle time changes differently and I can help you verify the correct setup.

Question:
On what timeframe should I operate the EA?
Answer:
The recommended timeframe settings are specified in the product description.

Question:
What is the minimum initial deposit needed for a trading account?
Answer:
The minimum initial deposit is specified in the product description.

Question:
What leverage setting do you recommend?
Answer:
The recommended leverage settings are specified in the product description.

Question:
If I wish to increase my deposit, are there any settings that I need to adjust?
Answer:
No changes are required. The EA automatically adapts position sizing based on your account balance.

Question:
Is it possible to adjust the risk level with active trades?
Answer:
Yes, it is possible. However, changes to the risk level will apply only to new trades. All currently open positions will remain unchanged.

Question:
What is the current risk level at which you are operating?
Answer:
Each EA uses different risk levels. The recommended risk level is specified in the product description. If you’re unsure which setting to use, feel free to contact me directly and I’ll be happy to help.

Question:
How does the “Max Daily Loss” work?
Answer:
This is a disciplinary mechanism designed to protect your deposit from a "losing streak" within a single trading day.

How it works:
1. Reference Point: The robot tracks performance starting from 00:00 Server Time.
2. Calculation: throughout the day, it sums up the net result of all closed trades (Profit/Loss + Swaps + Commissions).
3. Trigger: If the total realized loss for the day reaches your specified percentage (e.g., 3%), the robot stops trading immediately.
4. Reset: The trading lock is automatically lifted the next day at 00:00, and the robot resumes operation.

In simple words: "If the market conditions are bad today and the robot hits the daily loss limit, it takes a break until tomorrow to preserve your capital."

Question:
Does your EA employ a stop loss for every trade?
Answer:
Yes. Every trade is opened with a predefined stop loss.

Question:
Is a grid or martingale strategy employed?
Answer:
Does not employ high-risk trading techniques such as martingale, grid, or position averaging. Every trade is protected by a predefined stop-loss.

Question:
Do trading EA execute trades automatically, or simply generate signals?
Answer:
The EA executes trades fully automatically. It does not generate signals and does not require manual confirmation.

Question:
How often does the EA trade, and how long does it typically take to place the first trade after installation?
Answer:
This depends on the specific strategy. It’s best to check the signal page, where you can find approximate information about trading frequency, including the average number of trades per week.

Question:
How many trades can this EA open simultaneously?
Answer:
In most cases, the EA opens only one trade at a time. However, this depends on the specific strategy, so it’s best to check the product description for exact details.

Question:
Do I need to enter any web address for the news filter?
Answer:
No, you don’t need to enter any web address. The news filter uses the economic calendar built directly into the terminal, so no external services are required.

Question:
Would it be wise for me to intervene manually in trades when they're moving against me?
Answer:
Manual intervention is not recommended. The EA manages trades according to its strategy and risk logic, and interfering manually may disrupt its performance and lead to unintended results.

Question:
Is your EA compatible with the MetaTrader 4 platform?
Answer:
No. I develop EAs only for MetaTrader 5, as MetaTrader 4 is an outdated platform, is no longer actively updated, and many brokers no longer support it.

Question:
Can I use your EA to successfully pass a Prop Firm Challenge?
Answer:
Most of the EAs fully comply with prop firm requirements. They include flexible risk level settings as well as a maximum daily drawdown limiter. However, overall suitability still depends on the specific strategy and the rules of the prop firm.

Question:
Is it safe to try EA on another trading instrument?
Answer:
Each EA is designed and tested for specific trading instruments. The recommended instruments are listed in the product description. Using the EA on other instruments is not recommended unless explicitly stated.

Question:
Can I use your EA with an account currency other than USD?
Answer:
Yes. You can use almost any account currency. In most cases, the EA automatically adjusts the lot size based on your account currency. Manual adjustment options are also available if needed. The key requirement is that your account balance, when converted to USD, matches the minimum deposit requirement for the EA.

Question:
Can I use other EAs simultaneously alongside your EA?
Answer:
Yes, you can use other EAs simultaneously with this EA. However, keep in mind that all EAs share the same account balance, so it’s recommended to reduce the risk level in each EA to avoid excessive margin usage. Also, make sure that each EA uses a different magic number to prevent conflicts when trading on the same account.

Question:
Can I test the advisor on a demo account before purchasing?
Answer:
No. A demo version is not available. However, you can download the EA after purchase and test it in the Strategy Tester to evaluate its performance.

Question:
How to properly test an advisor in the strategy tester?
Answer:
There are many tutorials on YouTube explaining how to use the MetaTrader 5 Strategy Tester. Simply search on Google or YouTube for relevant guides.