1. **Evaluation and Verification Process**:
- Prop trading firms such as FTMO often require traders to undergo an evaluation and verification process before using Forex robots in live trading. This process involves demonstrating proficiency in trading skills, risk management, and strategy implementation to ensure readiness for live trading.
2. **Compliance with Risk Parameters**:
- Traders using Forex robots must adhere to predefined risk parameters set by the prop trading firm. These parameters typically include maximum drawdown limits, daily loss limits, and risk-adjusted performance targets to ensure prudent risk management and capital preservation.
3. **Live Account Trading Conditions**:
- Upon successful completion of the evaluation process, traders are provided with live trading accounts by the prop trading firm. They must adhere to specific trading conditions, including leverage limits, margin requirements, and allowable trading instruments, when deploying Forex robots in live trading environments.
4. **Profit Sharing and Fee Structure**:
- Prop trading firms like FTMO often employ profit-sharing models where traders receive a percentage of the profits generated by their trading activities. Traders may also be subject to performance fees or subscription charges based on the size of the trading account and the duration of participation in the program.
5. **Continuous Monitoring and Evaluation**:
- Traders using Forex robots are subject to continuous monitoring and evaluation by the prop trading firm to assess trading performance, adherence to risk parameters, and compliance with trading guidelines. Regular performance reviews help identify areas for improvement and optimize trading strategies over time.
6. **Adherence to Trading Objectives**:
- Traders must align their trading activities with the objectives and principles outlined by the prop trading firm. This includes focusing on capital preservation, consistent profitability, and adherence to ethical and professional standards in all trading activities conducted using Forex robots.
7. **Risk Disclosure and Disclaimer**:
- Prop trading firms typically require traders to acknowledge and accept the risks associated with Forex trading, including the potential for financial loss and market volatility. Traders must sign risk disclosure agreements and disclaimers acknowledging their understanding of the risks involved in using Forex robots for trading purposes.
