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DrawDown For Prop Firm

The "DrawDown For Prop Firm" is designed to manage drawdown levels for prop firm challenges using the MetaTrader 4 (MT4) platform. The EA aims to monitor the drawdown of the trading account and take necessary actions when the drawdown exceeds a specified trigger percentage.

Example Scenario:

Assume you have a trading account with an opening balance of $5000. You decide to use the "DrawDown For Prop Firm" EA to manage your drawdown, and you set the drawdown trigger percentage to 4%.

EA Configuration:

  • Opening Balance : $5000
  • Drawdown Trigger Percentage : 4%

Monitoring and Actions:

  1. Initialization:

    • The EA initializes with your provided settings, including the opening balance of $5000 and the drawdown trigger of 4%.
  2. Drawdown Calculation:

    • As you execute trades, the EA constantly monitors the account's drawdown by calculating the difference between the opening balance and the current equity.
  3. Trigger Threshold:

    • Since you set the drawdown trigger to 4%, the EA will take action when the calculated drawdown percentage reaches or exceeds 4%.
  4. Example Drawdown Scenario:

    • Suppose, after executing some trades, your current equity drops to $4800. The drawdown would be $5000 (opening balance) - $4800 (current equity) = $200.
  5. Drawdown Trigger Action:

    • As the drawdown exceeds the 4% threshold, which is $200 (4% of $5000), the EA will trigger and take action.
  6. EA Actions:

    • The EA will automatically close all open positions to prevent further losses.
    • If configured (e_b_DeletePendingToo set to True), the EA will also delete any pending orders.

User's Role:

  • Manual Drawdown Entry:
    • Before running the EA, you, as the user, need to manually enter the drawdown trigger percentage (4% in this example) through the EA settings.

Benefits:

  • Risk Management:

    • The EA helps you manage risk by closing positions when the drawdown reaches a predefined threshold, in this case, 4%.
  • Account Protection:

    • By setting a drawdown limit, the EA acts as a safeguard, preventing excessive losses and protecting your prop firm account from breaching predetermined limits.
  • User Control:

    • The manual entry of the drawdown limit provides you with control over the risk management strategy, allowing you to adapt the EA to your specific risk tolerance.

Installation

  1. Download the EA: Obtain the compiled (.ex4) file for the "DrawDown For Prop Firm" EA.

  2. Copy to Expert Folder: Place the .ex4 file into the "Experts" folder of your MetaTrader 4 platform. This folder is usually located within the root directory of your MT4 installation.

    Example Path: C:\Program Files\MetaTrader 4\experts

Settings and Features

Settings Section

Opening Balance 

  • Default: 10,000.0
  • Description: The opening balance of the trading day. This value needs to be set by the user for the EA to function correctly.

Drawdown Trigger Percentage 

  • Default: 2.0
  • Description: The percentage drawdown trigger. If the current drawdown percentage exceeds this value, the EA will take necessary actions.

Maximum Slippage in Points 

  • Default: 30
  • Description: The maximum allowed slippage in points for closing positions.

Delete Pending Orders on Trigger

  • Default: False
  • Description: If set to True, the EA will delete all pending orders when the drawdown trigger is reached.

Display Section

Top Padding 

  • Default: 0
  • Description: Adjusts the vertical padding at the top of the display in the MT4 chart.

Left Padding 

  • Default: 0
  • Description: Adjusts the horizontal padding on the left side of the display in the MT4 chart.

Usage

  1. Initialization: The EA initializes the account currency, opening balance, and drawdown trigger percentage during the OnInit() function.

  2. Drawdown Monitoring: On every tick, the EA monitors the account's drawdown by calculating the difference between the opening balance and the current equity.

  3. Actions on Drawdown Trigger: If the calculated drawdown percentage exceeds the specified trigger percentage, the EA will close all positions and, if configured, delete pending orders.

  4. Display: The EA displays relevant information, including balance, equity, drawdown trigger, current drawdown, drawdown trigger percentage, and current drawdown percentage in the MT4 chart.

Additional Notes

  • Opening Balance: The user must set the opening balance for each trading day through the EA settings.

  • Website Link: For more information or support, visit www.meta4indicators.com.

  • Version: Current version is 1.5.

Disclaimer

Trading involves risk, and it is recommended to thoroughly understand the EA's functionality before using it in live trading. The EA's behavior can be adjusted through the provided settings to align with specific trading preferences and risk tolerance.


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The program is use to copy trading from MT4   to MT4 and MT5  on local PC or copy  over the Internet.   Now you can easy copy trades to any where or share to friends. Only run one Flash Server on VPS, also need allow the apps if you turn on Windows Firewall. Can not add more than 20 account copier to server, include both  MT4 and MT5 Get free Copier EA for MT4 and MT5 (only  receive signal),   download here Instants copy, speed smaller 0.1 seconds, easy to setup How to setup and guide Let read a
EA Hedger
Sergej Chukhista
4.67 (3)
EA Hedger   est un utilitaire de trading professionnel avec de nombreux paramètres qui vous permet de gérer les risques en utilisant la couverture. La couverture est une technique de trading qui consiste à ouvrir des positions opposées à celles déjà ouvertes. A l'aide d'une couverture, la position peut être totalement ou partiellement bloquée (verrouillée). Pourquoi est-il rentable d'acheter ce produit : Fiabilité   - le conseiller est soigneusement vérifié et testé Utilité   - l'Expert Advis
DrawDown Limiter MT4
Haidar, Lionel Haj Ali
5 (9)
Expert Advisor "Drawdown Limiter"  Vous êtes au bon endroit si vous recherchez un contrôle de drawdown, un limiteur de drawdown, une protection du solde, une protection de l'équité ou une limite quotidienne de drawdown en rapport avec les entreprises de gestion de capitaux (Prop Firm), FTMO, My Forex Fund, ou si vous souhaitez protéger votre compte de trading. Avez-vous déjà eu du mal à contrôler votre drawdown en tradant sur des comptes financés ? Cet EA est fait pour vous. Les entreprises d
FX28 Trader
Tsvetan Tsvetanov
5 (1)
Présentation du FX28 Trader Dashboard - Votre gestionnaire de transactions ultime Découvrez tout le potentiel de votre expérience de trading avec le FX28 Trader Dashboard, un gestionnaire de transactions complet et intuitif conçu pour élever votre trading Forex à de nouveaux sommets. Que vous soyez un trader expérimenté ou que vous débutiez votre parcours financier, cet outil puissant a été développé pour simplifier vos activités de trading et améliorer votre processus de prise de décision. Car
OrderManager MT4
Lukas Roth
4.63 (19)
Présentation du OrderManager : Un utilitaire révolutionnaire pour MT4 Gérez vos transactions comme un pro avec le tout nouveau utilitaire Order Manager pour MetaTrader 4. Conçu avec simplicité et facilité d'utilisation à l'esprit, l'Order Manager vous permet de définir et de visualiser sans effort le risque associé à chaque transaction, vous permettant de prendre des décisions éclairées et d'optimiser votre stratégie de trading. Pour plus d'informations sur l'OrderManager, veuillez vous référer
Trader Evolution MT4
Siarhei Vashchylka
5 (2)
" Trader Evolution " - A utility designed for traders who use wave and technical analysis in their work. One tab of the utility is capable of money management and opening orders, and the other can help in making Elliott wave and technical analysis. Manual (Be sure to read before purchasing) | Version for MT5 Advantages 1. Trading in a few clicks. Immediate and pending orders are available in the panel 2. Money management. The program automatically selects the appropriate lot size 3. Simpli
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Welcome to Josmellon GOLD EA V5, an automated trading solution designed for XAUUSD (Gold) on MetaTrader 4. It uses automation and a sophisticated strategy tailored for the dynamic Gold market. Overview : Crafted for Gold trading to capitalize on its liquidity and movements. Relies on two Triangular Moving Average-based indicators for trade decisions. Key Features: Automated Execution: Executes precise and timely orders in the volatile Gold market. Indicator-Based Signals: Rel ies on two selecte
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