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Rules
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Specification
Forex robot to work on MT5, my aim is to run this on a specific prop firm with the rules below. My aim is to buy a $100,000 prop account which is a 2 stage trial system with no time limit (increases chances substantially of passing). The account will stay active as long as there is more than one trade a month.
Basic rules of the prop firm:
- 5% max relative drawdown.
- No high frequency trading.
- No arbitrage.
- Grids welcome with singals or tick backtesting.
- Averaging welcome with singals or tick backtesting.
Expert advisor preferences:
- For it to trade forex.
- No limit to how many pairs I will run this on, at the discretion of the coder or I can optimise and run this as my own setup.
- This will be run on my dedicated server so it must not be ping sensitive as depending on the broker 100ms or more can be the norm.
- If the coder specifically requires this to be run at low ping 1ms or so then no dll is allowed, as I will run that on an mql4 vps.
- Preferably some proof in either track records of live accounts or 100% tick data back testing provided.
Phase one:
Phase one is a demo account with 10% profit target for completion. Once a robot and a coder has been selected, I will send the specific account number which will be hard coded into the robot and exported as ex4 so I will not have access to the code or be able to use it anywhere else. If the coder wants an investor password this can be given or a link to myfxbook for tracking purposes.
Phase two:
Phase two consists of the same, but with a 5% profit target. Once again a new account will be issued and the specific account number will be locked into the ex4.
Phase three:
Finally after passing both evaluations and being issued a live account, we will continue on. The final account number will be locked into the EA plus any modifications required and then once hitting 10% $4,000 will be sent to the coder which will then unlock the EA for permanent use on any computer and multiple accounts.
If at any point the evaluation phase fails or the evaluation of the accounts post passing is rejected by the company (proof of this will be provided if it occurs) then the contract is essentially cancelled along with the trading account. Neither I or the coder will be paid (if it fails on the first evaluation phase) and the project terminated. All the account tracking will be done via myfxbook or investor passwords where the coder can track the account at their leisure, proof of withdrawals etc will be clearly visible on either method.
The payment scheme is summarised below.
Payment scheme overview:
- Passing stage 1 evaluation 10% target, NO rewarded.
- Passing stage 2 evaluation 5% NO rewarded.
- Passing stage 3 the live account (10% target) $4,000 rewarded upon withdrawal.