Proportional Trade Correction Prop Firm MT5
Proportional Trade Correction Prop Firm trading MT5
If you found this EA, it's probably because you're in a really specific situation.
Here are the conditions if you want to use this EA correctly :
- You want to be a prop firm trader.
- You want to use signals from MLQ5 market.
- You want your trades to be proportional to the signal provider.
If you're smart and you want to leverage your money thanks to prop firm trading without knowing how to trade, here's what you may think : "I will get a funded account to get 10 000$, then i'll go on mql5 signals market to copytrade a signal provider, I'll choose him wisely and I'll get the same stats as him. If he's good enough I'll get money passively".
Let me tell you that's a great idea, however it won't work without this EA.
But why ?
Simply because there's something you can't control and it's account leverage. Prop firm accounts leverage are 1:100 and you can't control your provider leverage neither.
The problem is that MQL5 signals make the calculation based on your leverage and your own leverage, which means that if your balance * leverage doesn't match with your provider, you may find yourself with completely different stats than your provider at the end of the month.
To make it simple, the trade you copy from your signal provider aren't PROPORTIONAL, and you won't get the same RESULTS as him without this EA.
However, Proportional Trade Correction EA solves this problem.
How does it work ?
- Of course, first, you need to find your signals provider
- You need to input your provider balance and your own balance (your own balance should be higher than your provider balance, but it's often the case with prop firm accounts)
- The bot is ready to use.
- Whenever your signal provider opens a trade, the EA calculates how many lots need to be opened to get a proportional trade with your account balance.
- Whenever the signal provider closes the trade, the newly opened trade closes too.
- And that's all. That means that at the end of the month, if your signal provider made 10%, you made 10% too, because the trades opened were proportional !
Let's take an example :
Your signal provider balance : 2500
Your own Balance : 10 000
Your signal provider opens a trade and it opens 0.05 lots on your account.
O.O5 lots represent 0.002% of the provider balance.
And 0.002% of your own balance represents 0.2 Lots.
Then, the bot opens 0.15 lots to get a total of 0.2 lots.
And that's it, at the end of the month, you get proportional trades with your signal provider.
You have now everything needed to start your prop firm trading journey thanks to MQL5 signal providers !
If you want to automate everything about your copytrading, don't forget that there's a daily drawdown limit to respect,
That's why I created another bot, the Daily Drawdown limit EA that will solve this problem, you can find it right here : https://www.mql5.com/en/market/product/85087?source=Site+Profile+Seller#description
If you have any question or any suggestion, send me a message, I'll answer as soon as possible !