Introduction
So, you’ve stumbled upon the Master Propfirm FTMO MT5. With a rating of 5 and some rave reviews, it’s tempting to think you’ve found the holy grail of forex trading. But hold your horses. Let’s dissect this beast and see if it’s worth your time and money.Installation and Setup
First things first, you need to get this EA up and running. Follow these steps:- Download the EA from here.
- Open your MetaTrader 5 platform.
- Navigate to the File menu and select Open Data Folder.
- Copy the downloaded EA file into the Experts folder.
- Restart MetaTrader 5.
- Drag the EA onto your preferred chart (AUDCAD, EURCAD, NZDCAD, EURGBP on M5 timeframe).
- Configure the settings: choose between fixed or dynamic lot sizes, set your risk percentage, and ensure you’re using a low spread account.
Experience Using the Robot
Let’s be real. Trading robots are a mixed bag. Konrad Mieszkowski reported a 2.2% increase in one week with a drawdown of 0.61%. Impressive? Sure. Sustainable? That’s the million-dollar question. The EA uses moving averages, RSI, and secret candles to make its moves. Sounds fancy, but don’t forget, it’s just an algorithm. It’s not going to turn water into wine.Tips for Improvement
Here are some nuggets of wisdom to squeeze the most out of this EA:- Test on a Demo Account: Always start with a demo account. Get a feel for how the EA behaves under different market conditions.
- Adjust Settings: Don’t just stick to the default settings. Tweak the moving average periods, RSI levels, and lot sizes to match your trading style.
- Monitor Performance: Keep an eye on the EA’s performance. If it’s not meeting your expectations, don’t be afraid to pull the plug.
- Use Low Spread Accounts: This EA thrives on low spreads. Make sure your broker offers competitive spreads to maximize your gains.
Source Code of Master Propfirm FTMO MT5
We don’t have the original source code of the Master Propfirm FTMO MT5 sold on MQL5. However, we’ve created a sample code based on its description. This code is available for you to review and modify as needed. If you have any questions about the code, feel free to ask. Remember, this is just an example from easytradingforum.com, not the original robot.
Code:
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If you’re interested in trying out the Master Propfirm FTMO MT5, you can download it from the link above. Keep in mind that the EASY Trading Team does not sell this robot. We’ve merely created a code based on its description for educational purposes.In conclusion, while the Master Propfirm FTMO MT5 shows promise, approach it with a healthy dose of skepticism. Test it thoroughly, tweak the settings, and always be prepared for the unexpected. Happy trading!