Daily Drawdown Limit EA Prop Firm trading MT5

Drawdown Limit EA Prop Firm trading MT5

If you found this EA, it's probably because you want to get a funded account with a prop firm, but you see a rule that most of traders fear : Maximum Daily Drawdown. 

I've been through this problem myself as I'm a prop firm trader and I've made a bot to solve this rule, and you can get it to solve this problem too.

How does it work ?

1. When you first setup this EA, you need to input the initial deposit which corresponds to the size of your funded account. For exemple if you get a 10k$ funded account, you input 10k. 
2. Then, you input the maximum daily drawdown. In most prop firms, the daily drawdown is 5%, but to have a little margin you can input 4,8%. This means that the bot will stop any trades if you lose 480$ in a day. This value never changes as the calculation is not made with your balance, it is made with the initial deposit because most prop firms work that way.
3. When a trade opens, it will automatically display your daily profit/loss. 
4. It will automatically close every position if your daily drawdown EQUITY reaches the amount you've set up before. 
5. If a position opens it will directly close it and this will be the case until 11PM CEST. 
6. When we go past this time, the daily profit/loss comes back to 0 and it can start trading again by accepting new positions. 

This EA is perfect for those who do copy trading or EA trading with a prop firm because it will follow the rules the prop firm wants you to follow. 

If you have any questions about it you can contact me. I answer in the day !