At The Forex Funder, the use of Algorithmic Trading Tool is permitted but with specific limitations. Here are the key points to keep in mind:
Use of Algorithmic Trading Tool for Risk Management Only:
Algorithmic Trading Tool can be utilized for assisting in risk management strategies. This includes setting stop losses, take profits, and managing trade sizes.
However, Algorithmic Trading Tool are not allowed to be used for executing trades. All trading decisions and trade executions must be made manually by the trader.
No Algorithmic Trading Tool Copy Trading:
Copy trading using Algorithmic Trading Tool is not permitted on The Forex Funder platform. This means you cannot use an Algorithmic Trading Tool to automatically replicate trades from another account, whether it's within The Forex Funder or with other prop firms or standard brokers.
The policy ensures that all trades are the result of individual decision-making and strategy, maintaining the integrity of the trading process.
Personalization of Algorithmic Trading Tool Settings:
While Algorithmic Trading Tool for risk management are allowed, it's important for traders to ensure that their Algorithmic Trading Tool settings are unique and tailored to their individual trading style and strategy.
Simply using default settings or mirroring settings from other traders is discouraged. Each trader should customize their Algorithmic Trading Tool to reflect their personal trading approach.
Prohibited Strategies:
Certain strategies, such as High-Frequency Trading (HFT), are not allowed. HFT involves using advanced algorithms to execute numerous trades in seconds, aiming to profit from small price differences, which can lead to market disruptions.
By adhering to these guidelines, traders can effectively use Algorithmic Trading Tool as a tool for enhancing their risk management while ensuring compliance with The Forex Funder's policies. It is essential for traders to understand these rules to maintain a fair and responsible trading environment.