Introducing the Gold Prop Firm Robot

Discover the Gold Prop Firm Robot, a powerful trading tool designed to help traders achieve consistent results while meeting the requirements of prop firm challenges. Powered by advanced algorithms and proven strategies, this Expert Advisor (EA) offers a simple yet effective solution for trading Gold (XAUUSD) on the MetaTrader 4 (MT4) platform.

Advantages

• Accurate Trading: Utilizes breakout strategies to capitalize on Gold’s high volatility, ensuring reliable performance.
• Ease of Use: Perfect for PROP FIRMS, with simple setup and operation for seamless trading.
• No Parasitic Strategies: Avoids risky tactics like grids and martingales, prioritizing safety and consistency.
• For All Traders: Suitable for both beginners and professionals, with customizable settings to match trading goals.
• Universal Broker Compatibility: Works with any broker, with top performance on Vantage Markets.
• Latest Strategies: Employs multi-timeframe trading and advanced confirmation algorithms for high-probability trades.

Recommendations

• Currency Pair: XAUUSD (GOLD)
• Timeframe: Any timeframe (optimized for M5)
• Minimum Deposit: $50 USD (5,000 cents on a cent account)
• Account Type: Cent account or prop firm challenge account (strongly recommended to manage risk)
• Minimum Leverage: 1:500
• Broker Recommendation: Vantage Markets (Sign Up Here)

What’s Inside Gold Prop Firm Robot?

Gold Prop Firm Robot: Advanced Breakout Trading

The Gold Prop Firm Robot is a state-of-the-art Forex advisor designed for trading Gold (XAUUSD). It leverages a proven breakout strategy, focusing on key support and resistance levels to capitalize on Gold’s high volatility. The EA uses advanced confirmation algorithms and multi-timeframe analysis to identify high-probability trading opportunities while controlling risks.

The bot has been tested across various market conditions, demonstrating consistent performance in volatile environments like XAUUSD trading. It excels in achieving stable results, making it ideal for prop firm challenges and personal trading accounts.

New Features and Advanced Functions

• Breakout Strategy: Focuses on trading around key support and resistance levels, optimized for Gold’s volatility.
• Dynamic Adaptation: Automatically adjusts trade frequency and lot size based on account size and maximum drawdown settings.
• Multi-Timeframe Trading: Analyzes and trades on multiple timeframes simultaneously for a comprehensive market approach.
• Enhanced Risk Management: Includes built-in stop-loss ($5 per trade) and take-profit (50 pips) mechanisms to limit drawdowns.
• Prop Firm Friendly: Designed to comply with prop firm rules, avoiding risky strategies like grids and martingales.
• Customizable Settings: Offers flexibility to tweak trade frequency, lot size, and drawdown limits to match risk tolerance.

Trading Engine: Precision Trading with Advanced Algorithms

• Trade Execution: Places orders twice daily, with a maximum of two trades filled, using pending order placement.
• Scalping Precision: Focuses on small, frequent profits with tight stop-loss and take-profit levels, minimizing exposure.
• Trend Detection: Uses proprietary algorithms to detect breakout opportunities in the XAUUSD market, ensuring timely entries and exits.
• Risk-Adjusted Scaling: Dynamically scales trade sizes based on account balance (e.g., 5,000 cents for $50 USD) and market volatility.
• Order Management: Closes or cancels all orders before the end of the day, with no overnight trades.
• Recovery Function: Increases lot size for the next day’s trade if the previous day’s trade resulted in a loss, enhancing recovery potential.
• Backtesting Alignment: Ensures backtest results closely match live trading performance, providing confidence in strategy evaluation.

Settings and Instructions

Recommended Setup

• Platform: MetaTrader 4 (MT4)
• Currency Pair: XAUUSD (GOLD)
• Timeframe: M5 (works on any timeframe)
• Minimum Deposit: 5,000 cents ($50 USD) on a cent account
• Account Type: Cent account or prop firm challenge account
• Minimum Leverage: 1:500
• Broker Recommendation: Vantage Markets (Sign Up Here)
• Broker Requirements: Low spread (max 20 pips), low latency VPS (under 50ms ping)

Installation Instructions

1. Download the Bot: Obtain the Gold Prop Firm Robot .ex4 file from the provider.
2. Open MT4: Launch your MetaTrader 4 platform.
3. Access the Data Folder: Go to File -> Open Data Folder -> MQL4 -> Experts.
4. Install the Bot: Copy and paste the .ex4 file into the Experts folder.
5. Refresh MT4: Right-click on the Expert Advisors tab in the Navigator window and select Refresh. The bot should appear in the list.
6. Enable Auto-Trading: Click the Auto-Trading button at the top of the MT4 platform to activate the bot.
7. Attach to Chart: Drag the Gold Prop Firm Robot onto an M5 XAUUSD chart, and ensure the settings window pops up.

Recommended Settings

• Initial Lot Size: 0.01 per 5,000 cents of account balance (e.g., 0.01 for 5,000 cents).
• Max Spread: 20 pips (to avoid trading during high-spread conditions).
• Stop Loss: $5 (50 pips, adjusted for M5 timeframe).
• Take Profit: 50 pips (adjusted for M5 efficiency).
• Max Drawdown: Set to match prop firm rules or personal risk tolerance (e.g., 5-10%).
• Trade Frequency: Customizable from conservative to volatile based on risk preference.
• News Filter:
  • News Start Time: 14:30 (e.g., US NFP at 14:30 GMT).
  • News End Time: 15:30.
  • Time Zone Offset: 0 (adjust based on broker time).
  • Minutes Before News: 15 (stop trading before high-impact news).
  • Minutes After News: 15 (stop trading after high-impact news).

Additional Instructions

• Cent Account Recommendation: It is strongly recommended to run this bot on a cent account to manage risk effectively. For example, a balance of 5,000 cents ($50 USD) is the minimum, but 10,000 cents ($100 USD) is recommended for better margin safety with 1:500 leverage.
• Demo Testing: Always test on a demo account for at least a week to familiarize yourself with the bot’s performance.
• Backtesting: Use MT4 Strategy Tester on XAUUSD (M5) over at least 6 months of historical data to validate performance.
• Live Testing: Monitor the bot during high-impact news events and regularly check equity/drawdown on the chart.
• News Filter Configuration: Ensure https://www.worldtimeserver.com is added to allowed URLs in MT4 (Tools > Options > Expert Advisors > Allow WebRequests).
• Support: Contact the developer at Telegram: t.me/ForexBotEATrader for assistance.

Troubleshooting

• Bot Not Trading: Check the Experts tab for errors (e.g., demo restriction, news filter active).
• News Filter Issues: Ensure https://www.worldtimeserver.com is added to allowed URLs in MT4 (Tools > Options > Expert Advisors > Allow WebRequests).
• Support: Contact the developer at Telegram: t.me/ForexBotEATrader for assistance.