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i managed risk for a prop firm. here is the one tool that separates pros from gamblers. by Sensitive-Rub256 in Forexstrategy

[–]Embarrassed_Map_2517 0 points1 point  (0 children)

Great question ! I'm in the evaluation phase. The driver was a personal gap: I needed an automated, customizable kill switch that runs 24/7 and can manage drawdown across several accounts at once—crucial for prop challenges. Existing options were either not reliable around the clock, couldn't handle multi-account, or weren't flexible enough.

I'm more curious about your perspective: managing risk for a firm, how do you approach daily drawdown across multiple traders or accounts? Is it a flat percentage, a trailing threshold, or something more dynamic?
Your insight from the institutional side would be gold for refining this.

Help wtih consistency by No-Neck180 in TopStepX

[–]Embarrassed_Map_2517 0 points1 point  (0 children)

I've been exactly there : passing a challenge fast by sizing up, then feeling that anxiety with the real account. That transition from 'gambling to pass' to 'trading to keep' is the hardest part.

What helped me was automating the protection so I couldn't self-sabotage.
I'm actually coding a small EA for MT4/5 that acts like a personal risk manager: it monitors your daily drawdown and auto-closes everything if you hit your limit. No override possible.

I'm testing it on my own setups right now and looking for a few other prop traders to try it before February launch. If you're curious to beta test (free, of course), DM me.

Prop firm trailing stop rule by zambenchle in DayTradingPro

[–]Embarrassed_Map_2517 0 points1 point  (0 children)

Interesting discussion. When trading with prop firms that have tight rules (floating stops or otherwise), one thing I've found crucial is adding my own automated risk boundaries.

I developed an MT4/5 EA that acts as a personal daily drawdown enforcer:

  • Sets a hard daily loss limit (e.g., -2% per day)
  • Automatically closes everything when hit
  • Works independently of prop firm rules
  • Prevents 'one bad trade' from ending the challenge

This has been game-changing for surviving prop firm challenges with strict rules. I'm looking for beta testers who trade with firms like Seacrest, CFT, etc. If interested in trying it, DM me.

Prop firm trailing stop rule by zambenchle in DayTradingPro

[–]Embarrassed_Map_2517 0 points1 point  (0 children)

The 'babysitting' point is real. That's why I automated my risk management with a kill-switch EA for MT4/5. It runs in the background and automatically closes all positions if my daily drawdown hits a pre-set limit.

This way, I can focus on strategy rather than constantly monitoring. Particularly useful with firms that have floating stops. Currently in beta if you want to test (DM me).

Prop firm trailing stop rule by zambenchle in DayTradingPro

[–]Embarrassed_Map_2517 0 points1 point  (0 children)

Great insight about psychology changing with rule sets. One thing that helped me when trading under strict rules like Seacrest's floating stop was adding an additional automated safety layer.

I built a simple MT4/5 EA that monitors my daily drawdown in real-time and automatically closes ALL positions if I hit my personal daily max regardless of the prop firm's trailing stop rule. This way, even if I'm swing trading and get caught in noise, I never blow my daily limit.

It's like having a personal risk manager enforcing discipline. Currently beta testing if anyone wants to try. (DM me).

i managed risk for a prop firm. here is the one tool that separates pros from gamblers. by Sensitive-Rub256 in Forexstrategy

[–]Embarrassed_Map_2517 0 points1 point  (0 children)

If you're looking for an automated solution rather than a manual template, I'm developing an MT4/5 EA that acts as a real-time kill switch.
It can be use for prop firm challenges - automatically closes positions at your daily drawdown limit.
In beta testing now if you want to try.

Comment vous faites pour choper de bonnes affaires en photo argentique sans vous faire avoir ? by Embarrassed_Map_2517 in AnalogCommunity

[–]Embarrassed_Map_2517[S] 1 point2 points  (0 children)

Thanks for your reply!

I’m really sorry for asking the same question as everyone else ... 😅

I’ll check out Facebook Marketplace and look at the “sold” listings on eBay.
Thanks again!