JOINT PURCHASES PROP MASTER MT4 (NO DLL)

PROP MASTER MT4 (NO DLL)

V1.4

Prop Master Expert Advisor works according to the classical strategy and follows all the rules set by Prop firms for their clients. The Expert Advisor can be traded both on funded accounts of Prop firms and on your own accounts. There is no restriction on the type of trading account.

Check out the Prop Master live signal:

How to test the Expert Advisor?
It is important for the Expert Advisor to operate in the correct time zone, so before testing you should correctly set the GMT parameter.

How to set the GMT parameter correctly?

1. The setting should be made at the time when the market is open and ticks are received in the trading terminal.
2. Open Google and search for "Current GMT time," then open the first website that appears and note the time (for example, it's 10:53).
3. Open the trading terminal in which you will be testing and using the Expert Advisor.Open the data window Market watch, and at the top of this window you will see the time of your broker's trading server (let's say it's 12:53).
4. Subtract the Greenwich Mean Time (GMT) from the broker's time and get the parameter to be set in the Expert Advisor (Example: 12-10=2, set +2 in the Expert Advisor).

IMPORTANT !!!

Check the spread size on your trading account. If the average spread is greater than 5 then you will get results that will be much worse compared to those with a spread size between 0 and 4. Open an ECN or Prime account in your trading terminal and make sure that the spread is between 0-4 pips.

Do not test the Expert Advisor on weekends. Brokers worsen trading conditions in the last seconds of trading on Friday, and trading conditions are fixed for the whole weekend. You may get different results than usual on weekends.

Prop Master respects all requirements of Prop firms

• StopLoss and TakeProfit are set in each trade
• Classic breakout strategy (does NOT use averaging and martingale)
• Does NOT use high frequency trading
• You can set a limit on the maximum number of open trades
• Magic Number and Comment parameters of the order are displayed in the settings. (Set these values to unique to avoid Copy trading blocking)
• The module for tracking drawdowns is already inside the Expert Advisor

How does the drawdown tracking module work?
Especially for working on Prop Firm accounts, the Expert Advisor has a module for monitoring drawdowns on the account. The module takes into account negative trades from the history, as well as current trades that are still in the market. If the drawdown exceeds the maximum specified drawdown on the account or the maximum specified drawdown for the day, the Expert Advisor will close all orders at the market price.

IMPORTANT !!! Prop controller works with all orders on the account and in case of exceeding the drawdown, it will close not only the orders of Prop Master Expert Advisor, but also the orders of other Expert Advisor, which can also work on your account.

How to configure Prop Master for trading on Prop account

1. You need to enable the Prop Controller module - "Challenge On" = true.
2. Set the value of maximum drawdown for the day "Max. daily drawdown (%)".
3. IMPORTANT !!! Set the value a little less than the broker allows, because at times of a very active market you may catch slippage, and the drawdown may slightly exceed the allowed values. In case you set it a little less, you will have a small reserve so that you do not violate the rules.
4. Set the maximum drawdown value "Max. equity drawdown (%)" (The rules for setting the drawdown are the same as for the daily drawdown).
5. Set the profit target value in percentage "Phase Target (%)". If the profit target value will be reached, the Expert Advisor will stop trading so as not to spoil the situation.

Key advantages of the Prop Master Expert Advisor
The Prop Master Expert Advisor sets adequate small StopLoss and TakeProfit in each order.

It is important to pay attention to this, because some Expert Advisors set a very large StopLoss in the order and just wait for the wrong entry into the trade or do not set StopLoss at all. Thus, you can constantly get profitable trades, but if the market goes wrong, you can get a loss of half of your deposit or lose your entire deposit if StopLoss is not set at all.

A proper money management strategy limits the loss on each trade to a percentage of your deposit.

I believe this is the most correct trading, when you open a trade, you calculate the lot size in such a way that your maximum loss on the trade is from 1 to 7% of your deposit (everyone chooses for himself an acceptable risk per trade). Therefore, the Prop Master Expert Advisor calculates the lot size for each trade individually, based on the StopLoss size calculated by the strategy and the size of your deposit.

The Prop Master uses high-performance trailing stop in trading.

It is necessary to fix the profit, and trailing stop allows you to fix the profit on the trade in case the market suddenly turns to the side against the open trade. Even if in this case you will not always get profit from a larger market movement, but using trailing stop allows you to reduce the number of losses and thus increases the stability and profitability of the Prop Master Expert Advisor.

Description of the Prop Master Expert Advisor settings

• GMT - a parameter that is needed first of all for proper testing of the Expert Advisor. How to set this parameter correctly, please read in the block "How to test the Expert Advisor"
• Money Management Type - a switch that sets the type of calculation of the trade lot:

1. Fixed lot - set the switch to this position so that each trade is opened with a fixed lot. The lot size is set in the "Fixed lot" parameter
2. Auto-lot - set the switch to this position so that the lot size is calculated automatically depending on the size of the account balance. Calculation formula: Account Balance / Divider
3. Risk per transaction - set the switch to this position so that the lot size is calculated in such a way that the loss on one trade is not more than the specified percentage of the deposit. The risk percentage is set by the "Risk per transaction" parameter

• Fixed lot - sets a fixed lot size (Money Management Type = Fixed lot)
• Divider - sets the divider for the lot calculation (Money Management Type = Auto-lot)
• Risk per transaction - sets the percentage of risk per transaction (Money Management Type = Risk per transaction)
• Maximum trading spread - the size of the maximum spread at which the Expert Advisor can work. If this value is exceeded, the Expert Advisor will not place orders
• Maximum number of deal - allows you to set the maximum number of orders placed simultaneously

Time filter

• Enable the operation of the time filter - limits the Expert Advisor's operation at night, during periods of low market activity and increased spread size
• Start trade (hour) - hour after which the Expert Advisor starts working
• Stop trade (hour) - hour after which the Expert Advisor finishes its work

Order Parameters

• Minimum SL for auto calculation - minimum value of StopLoss size. If the calculated value of StopLoss is less than the specified one, the trade is canceled. (Relevant in case of automatic calculation of the StopLoss size by the Expert Advisor)
• StopLoss - StopLoss size in pips (0 - StopLoss size is calculated automatically according to the internal logic and strategy of the Prop Master Expert Advisor) (10 pips - 0.0010 or 0.00100)
• TakeProfit - TakeProfit size in pips (0 - TakeProfit size is calculated automatically according to the internal logic and strategy of the Prop Master Expert Advisor) (10 pips - 0.0010 or 0.00100)

Prop firm settings

• Challenge On - set "true" to start the Prop Controller module
• Max.daily drawdown (%) - set the maximum drawdown for the day
• Max. equity drawdown (%) - set the maximum drawdown of the account by Equity
• Phase Target (%) - set the amount of profit for passing the challenge

Other

• Magic Number - unique number of the Expert Advisor (the Expert Advisor uses numbers from MagicNumber to MagicNumber+10
• Order comment - comment that is recorded in the order

How to install the Prop Master Expert Advisor correctly?
In order to start trading with the Prop Master Expert Advisor, you need to download it to your trading terminal, as well as download the settings of the Expert Advisor

The Expert Advisor is configured for trading on EURUSD and GBPUSD.

The set files contain the basic settings for trading with the Expert Advisor, and everyone sets the risk settings himself based on his understanding of the risks. For someone acceptable risk for one trade is 0.5% of the deposit, and someone can risk 10% in the prospect of greater profits. Therefore, you need to set the Money Management Type and Risk per transaction settings yourself. You can find the description of the parameters of the Expert Advisor and Money management in particular above in the description.

Trading account requirements

• EURUSD spread less than 6 pips
• Minimum deposit 100$
• Leverage from 1:20
• ECN, NDD or RAW account
• Server ping up to 25 ms is preferable