and been around the block more times than I care to count, you’re chasing a unicorn on a treadmill.

Advantages of Using EAs in Prop Firm Challenges

Now you might be thinking, well Pro isn’t it true that if I just use an EA that can beat a prop challenge, then I’ll be good, I have nothing to worry about?

I can see why you would think that. And there are some clear thinking reasons as to why you would: 

1. Effective Risk Management: EAs utilize advanced algorithms to make informed trading decisions, including setting stop-loss orders and using position sizing to minimize risk.
2. Increased Profitability: By automating trading strategies, EAs exploit market movements efficiently, even in the trader’s absence.
3. Consistent Performance: EAs are designed for long-term profitability, employing strategies that have been historically successful​​.

BUT.

Here’s the problem: First off, let’s talk about these prop firm challenges. They dangle the carrot of a funded account if you can just prove your worth by navigating their obstacle course of trading rules. Sounds simple enough if I’m using an EA, right?

Wrong!

The statistics are about as encouraging as a hedgehog in a balloon factory. Whether manual or algorithmically traded, the success rate of funded challenges is Abysmally low.

The Problem With EA’s on a Challenge

1. You only have 5% to work with. After that YOU’RE DONE. 
2. Market forces and random chance is ALWAYS at work against you. At the end of the day, markets are made up of PEOPLE, and people do random things, make random decisions and sometimes things happen that are random. With a tight margin of only 5%, its literally impossible to code a bot that can account for the random events that happen in the market to always be able to withstand a drawdown of just 5%. Unless you plan on reaching your quota every 120 days :/
3. It can be held against you. Literally at any moment in time, your chosen prop firm can decide, eh, we think you’re using a public EA, or this EA is now against our TOS or we think your EA is too risky. Whatever the case may be they can come up with a reason to shut you down. Don’t think its too far fetched because it happens all the time.

   The point is, because you don’t have control over many of these factors that are so consequential in determining your success, your odds at any substantial positive outcome are not only low but their beyond your ability to affect any kind of real change on it. That’s why it only feels like it does. That’s why you’ve probably taken more than a few challenges. 

   The Harsh Reality of Prop Firm Trading

   The allure of being able to share in the profits of a $100,000 account seems so prosperous and attainable. But let’s be honest about the situation here. If you are only allowed a drawdown of just $5,000, do you really have a $100,000 account? Or Do you have a $5,000 account with some lipstick on it?

   If that number doesn’t scare you here’s one that should. 8. Yes only 8% of traders pass 2-step prop firm challenges and its not because 92% aren’t using EA’s LOL. 

   Now here’s the real kicker are you sitting down? Of those 8% that actually do trug across the finish line, 70% of them LOSE the account within just 30 days. Imagine 1000 people take a challenge. 80 survive only for just 24 of them to still be in the runnings to even qualify for a payout.

   So the prop firm just made on average 250 from each challenge taker raking in a cool quarter of a million dollars, with only 24 guys left who may not even survive the following month to receive a payout. Isn’t it easy to see how these prop firms don’t even have to use real broker feeds to run their operations. No one’s getting paid anyway so who cares where the money comes from right lol.

So what is the Best EA to Use?

The best EA to use is one that you can use on an account that you own. Why play a rigged game when you can be the game master? It’s 2024, and AI-powered Expert Advisors (EAs) are the new kings of Forex trading. You obviously already know this which is why you’re looking for the best EA’s to beat prop firm challenges. What you really need though is an automated trading bot that will allow for you to grow and compound an account that YOU own, full out with no limitations. 

I know this might not be what you want to hear but it is what you need to hear. The chances of you 

Building Your Own Empire with AI

Choosing an AI EA over a prop firm challenge is like picking a smartphone over a carrier pigeon. You get to be the captain of your own ship, navigating the Forex seas without the fear of hitting the prop firm iceberg. You set the rules, you keep the profits – no need to share your hard-earned treasure.

Here’s the best forex trading EA on the market. 

Conclusion: Embrace Your Trading Destiny In summary, chasing prop firm challenges is akin to knitting on a rollercoaster – a thrilling but ultimately fruitless endeavor. With success rates as low as 1% to 6%, it’s a path fraught with more pitfalls than promise. Why not take control with AI? It’s time to embrace the future, set your own course, and let the robots do the heavy lifting. Your sanity and your wallet will thank you. Welcome to the new era of Forex trading!