Product Description

FRZ Prop Firm Challenger

v4.0

Seller

🔥 Link👉 https://www.frzsoftware.com/product/prop-firm-challenger-ftmo-ea/

🔥 Reviews📈 https://trader.ftmo.com/metrix?share=b8da7bac5dd8

📈
https://trader.ftmo.com/metrix?share=dcb7991e1d41

📈 https://www.youtube.com/watch?v=fVtl4rEFwWc

FRZ Prop Firm Challenger EA v4 – FRZ Software

FRZ Prop Firm Challenger is a fully automated robot designed to pass prop firm funding challenges such as FTMO. The EA trades based on a unique algorithm and works on the 15-minute timeframe. The EA will include the trading rules inbuilt so that the EA itself will monitor the daily and maximum loss levels. It is designed to work primarily on major currency pairs and also includes a news filter.

The EA should be used on at least 15 currency pairs. The recommended pairs are EURUSD, USDJPY, USDCAD, AUDUSD, GBPUSD, USDCHF, AUDCAD, AUDCHF, CADCHF, CHFJPY, EURAUD, EURCHF, EURCAD, EURGBP, EURJPY, GBPJPY, NZDCAD, NZDJPY, and NZDUSD. If you use it on a few pairs, you may not get the required no of trades to reach the target within the given time period. However, the EA does not take simultaneous trades on related pairs. For instance, if a trade is taken on EURUSD, the EA would not take another trade on any pair that has EUR or USD. Also, the trading pairs are randomly selected, and also take profit levels are randomly altered automatically. This would ensure that two users using the same EA on the same prop firm would not get the exact same trades.

NB: If your prop firm has any account type that allows keeping trades over the weekend, we recommend you select that type as this EA would perform better in such accounts. Also, make sure you set setting 8 & 9 as false in that case. However, it is not compulsory to have weekend trades allowed. You can always set to close trades if any at the end of Friday.

Version History:

• v1.0 – initial release
• v1.1 – minor bug fix
• v2.0 – Improved algo
• v3.0 – fix a bug in the daily loss calculation
• v3.2 to 3.61 – News filter updated & minor bug fixes
• v3.7 –  Improved algorithm for higher accuracy and lower drawdown
  – Added an option for a token stop loss – this is for those prop firms who make it mandatory to have a hard stop loss. This is just for the sake of having a stop loss and we never expect this top loss limit to hit.
  – Now we have recommended pairs: EURUSD, USDJPY, USDCAD, AUDUSD, GBPUSD, USDCHF, AUDCAD, AUDCHF, CADCHF, CHFJPY, EURAUD, EURCHF, EURCAD, EURGBP, EURJPY, GBPJPY, NZDCAD, NZDJPY, and NZDUSD.
• v3.8 to 3.9 – News filter bug and trade exit bug fixed
• v4.0 – Major improvements in the algorithm with improved accuracy and lower drawdown along with a few minor bugs being fixed.

Customers are advised to be updated to the latest version ASAP.

The EA can be used to pass prop firm challenges as well as for trading after getting funded.

Some successful prop accounts of our clients*:

• FTMO 100k: https://trader.ftmo.com/metrix?share=b6387c22113a
• FTMO 50K: https://trader.ftmo.com/metrix?share=b8da7bac5dd8
• FTMO 100K: https://trader.ftmo.com/metrix?share=dcb7991e1d41
• FTMO 100k: https://trader.ftmo.com/metrix?share=1ca87b1a0436
• MFF 10K: https://ibb.co/WGRLySh
• TFF 100k: https://ibb.co/6wrwpw4

Please note our software is provided “as is”, without any warranty or condition of any kind, express, implied, or statutory. The past performance of any trading system is not necessarily indicative of future results.

*We always recommend starting with the recommended lot sizes and gradually increasing later on if necessary.

All the EA settings are explained in the user manual in our knowledge base.

Salient features:

• Daily loss & max loss guard – the  EA will monitor these limits and close the trades before the account hits any of those limits.
• Trade randomization: Trading pairs are randomly selected and also take profit levels are randomly altered automatically. This would ensure that two users using the same EA on the same prop firm would not get the exact trades.
• Target management: EA will close all the trades when the profit target is achieved.
• Weekend auto trade close:  You may opt to close trades at the end of the Friday trading to ensure trades are not kept over the weekend if your prop firm does not allow that.
• Mobile/email notifications: You can get notifications on loss limits or target achievement.
• Info panel: You can see all the main statistics on the screen to easily understand the current situation.

Installation and Usage Video

EA Specs

Frequently Asked Questions

Is there a guarantee that I pass each and every prop firm test I take? 

Obviously No. There is no guarantee that this software will pass prop firm challenges each and every time you try. However, there is a good possibility that you could pass or at least qualify for a free repeat as offered by most prop firms. But, still, there is always a risk of failure.

Please note our software is provided “as is”, without any warranty or condition of any kind, express, implied or statutory. Past performance of any trading system is not necessarily indicative of future results.

Do you refund me if I fail or do not reach my prop firm target?

No. We do not offer any refunds in that case as we do not guarantee that you pass.

Can I use the EA on any prop account size?

Yes. Prop account size does not matter. It can be a $2,500 account or $500,000 or any other amount. You just need to adjust the lot size and account details under settings according to your account size.

Is this a subscription or a one-time payment?

This is a one-time payment subject to our licensing policy where the number of licenses you purchase determines the no of simultaneous accounts you can run the EA. However, even if you buy a single license, you can always transfer the license to a new account at any time subject to a nominal license transfer fee of $5.

Can I use it on any prop firm? 

The basic requirement is that your prop firm should allow using EAs. However, please read all the FAQs to fully understand how the EA works. Also, read all the rules provided by your prop firm. If you have any concerns, please contact us for clarifications before you buy.

How long would it take to complete a challenge?

It depends on your settings and market conditions. The EA scalps the market with small gains on each trade. You may always increase the lot size and other settings to increase trading but on the other hand, it will increase the risk.

What would be the expected drawdown and monthly return?

It could be anything; we can not guarantee anything.  The EA will monitor your loss limits and it will close trades whenever they are too close. The return is usually dependent on lot sizing and other settings. You can try out our free demo to have an understanding of its trading patterns.

Will it follow all of my prop firm’s rules?

There are so many prop firms and they may have various different rules. Our EA has provided for general rules like loss limits, news filtering, keeping trades over the weekend, etc. However, you must carefully read the rules of your prop firm and then consider our manual to see if you can safely use the EA on your prop account. If you have any concerns, please contact us for clarifications before you buy.

What kind of strategy does it use?

The EA uses a trend-following scalping strategy.

Should I backtest on Strategy Tester before I use it on the live prop account? 

Yes, this is a must-do. You need to back-test on the same MT4 using the same account size to be sure everything runs well before using it on the actual account. If you have any concerns, you need to contact us for advice we can advise you on the right settings or any other concerns.

Does it need any particular leverage?

We recommend you have at least 1:30 leverage.

If more than one is going to use this EA on the same prop firm, will that be an issue?

Yes, this can pose some risks that you need to take. However, the trading pairs are randomly selected, and also take profit levels are also randomly altered automatically by the EA. This ensures that two users using the same EA on a single prop firm would not get the exact same trades.

Which lot size should I select? 

We recommend you start with 1 lot per each $50,000 balance. For instance, if your account is $100,000, then start with 2 lots. You may increase the lot size gradually if you see you would not reach the target within the given time period. This is the conservative approach.  However, you can always have a bigger lot size if you want to speed up things. Please note higher lot sizes can increase the risk of reaching the loss limits.

Do you provide set files? 

No. You simply need to update your account details, lot size, and other settings to suit your prop account. There is no need for set files.

Can I use this EA to trade after getting funded also?  

Yes. We recommend you set a conservative monthly target after getting funded; most funded users lose their account in a few months when they try to achieve unrealistic targets. We recommended you use a lower lot size than what you used in the challenge after getting funded so that you have a better chance of keeping your account active in the long term.

I hit my daily loss limit. Now what? 

We recommend you keep using the EA. EA will start trading the next day automatically. If you hit the daily loss limit, your immediate target should be revised as securing a free repeat.

On how many MT4 accounts can I use the EA?

The EA license is based on the trading account number. The software use is limited to the account number it was licensed (The licensed account can be either a demo or a real account). The number of account licenses (license quantity) you purchase determines the number of prop trading accounts that you can run the software simultaneously.

License use examples:

• If you buy one (License Quantity=1) account license, then you can use the software only in one trading account at any given time.
• If you buy two account licenses (License Quantity=2), then you can use the software for up to two trading accounts simultaneously.
• If you buy three account licenses (License Quantity=3), then you can use the software for up to three trading accounts simultaneously.

You can change the licensed account number at a nominal transfer fee of $5. This means even if you buy only a single license you can get the license transferred to a new account as you go along with the prop firm.

How many trades would it take a week?

The number of trades will depend on market conditions and the no of pairs you use. To increase the trading activity, you need to increase the no of charts that you use the EA on.  Please use the EA on all recommended pairs. However, EA will not take simultaneous trades on related pairs as mentioned before.

Do you use a stop loss?

No. EA does not use any hard stop loss. The stop loss value given under the settings is not a real stop loss and trades are not closed on this stop loss. It will only serve as the minimum price level to add more positions to the DCA averaging method. Your actual (virtual) stop loss would be your daily loss limit subject to the buffer.

My prop firm wants me to set stop loss on each and every trade. Can I use this EA?

No. You can’t. This EA does not use stop loss for each and every trade as mentioned before.

How do you calculate the daily loss limit and maximum loss limit?

Our daily loss and maximum loss calculations are based on the way used by FTMO. Please be aware that your prop firm may use a different method and in that case, you may have to increase or decrease the allowed loss limits to reflect the rules of your prop firm.

Maximum daily loss = result of closed positions of this day + result of open positions.

Example: Assume your maximum daily loss is 5000. Your first two trades for the day closed with a 4000 profit. Now your third trade goes into a drawdown of -6000. In this case, the maximum daily loss rule is still not violated as your loss for the day is still -2000.

NB: There is one caveat here, if your trade in the above case continues to the next day, then your result of the positions of the day becomes zero as it is a new day and your maximum daily loss becomes -6000 and then your daily loss limit becomes automatically violated. Therefore the EA will check the result of the ongoing trades (without considering closed trades for the day) at the overnight check time (under setting) to see if the current trades continued to the next day, the maximum daily loss could be violated. If it is the case, the EA will close the trades at overnight check time.

How much drawdown can I expect?

It could be anything. However, EA will monitor the drawdown and trades will be closed if the loss limits are too close as set under the EA settings.

Do you use martingale, grids, hedging, tick scalping, or DCA averaging?

The EA does not use any martingale, grids, hedging, or tick scalping but it uses DCA averaging. The maximum no of trades per pair on DCA can be set under settings. Please make sure your prop firm allows more than one trade on a single pair.

Which timeframe does the EA use?

The EA uses a 15-minute timeframe which you can not change. And it is designed to be used on currency pairs. We have not tested it on metals, indices, or crypto pairs although it might work on them too.

How many pairs/charts should I use the EA on?

Use it on at least 15 pairs. We recommend you use it on the following currency pairs: EURUSD, USDJPY, USDCAD, AUDUSD, GBPUSD, USDCHF, AUDCAD, AUDCHF, CADCHF, CHFJPY, EURAUD, EURCHF, EURCAD, EURGBP, EURJPY, GBPJPY, NZDCAD, NZDJPY, NZDUSD.

The EA does not take simultaneous trades on related pairs. For instance, if a trade is taken on EURUSD, the EA would not take another trade on any pair that has EUR or USD. Therefore, you need not worry about over-trading just because you have used many pairs.

Do I need to change the magic number for each chart/pair?

How long would an EA typically keep a trade?

Please note that the past performance of any trading system is not necessarily indicative of future results. Full terms and conditions are given here