Prop Master MT5

Overview of Prop Master MT5

• Prop Master is an advanced Expert Advisor (EA) designed for MetaTrader 5 that complies with the requirements of Prop firms.
• This EA is suitable for both funded accounts from Prop firms and personal trading accounts, offering flexibility in trading strategies.
• Utilizes a classic breakout strategy, ensuring that it does not rely on high-frequency trading, averaging, or martingale systems.

Key Features

• Automated Trade Management: Orchestrates trades without human intervention while adhering to predefined rules.
• StopLoss and TakeProfit Settings: Automatically sets adequate StopLoss and TakeProfit for each trade to manage risks effectively.
• Drawdown Monitoring: Includes a built-in module for monitoring drawdowns, closing all orders if specified limits are exceeded. 📉

Money Management Strategies

• Calculates lot sizes based on the trader's account balance and predefined risk levels, ensuring potential losses per trade remain manageable.
• Traders can configure settings to either use fixed lots or auto-lot adjustments, catering to varying trading styles and risk appetites.

Performance Results

• Backtests from 2013 to 2024 indicate a monthly profit of 8.19% for EURUSD and 4.75% for GBPUSD, with a high percentage of profitable trades.
• Minimum monthly trades recorded are 12 for EURUSD, showcasing the EA's consistency in trading activity.

User Experience and Reviews

• Users have reported satisfactory performance, particularly highlighting the automated risk management features.
• Feedback emphasizes confidence in the EA's ability to adhere strictly to Prop firm's rules while maximizing profit opportunities. 🌟

Setting Up Prop Master MT5

• Ensure to properly configure the GMT settings for accurate trading times based on the broker's server time.
• Choose an ECN or Prime account with minimal spreads for best performance; surveys suggest settings with spreads between 0-4 pips yield optimal results.
• Regular updates and user guides are available for maintaining optimal functionality and addressing any issues during operation.

Final Tips for Traders

• Engagement in backtesting and forward testing is crucial before committing real funds to understand the EA's performance under varying market conditions.
• Utilize the trailing stop feature to secure profits as market conditions change, adapting to new trends effortlessly. ⏳