SC T - Risk Per Trade- MT4
Info
The SC T - Risk Per Trade- MT4 is a Script for MetaTrader 4 that the story behind this trading tool: most traders lose and this is a fact. There are lot of reasons behind their losses, but the main reason in my opinion is that they can't control their emotions since they are dealing with money.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Scripts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use SC T - Risk Per Trade- MT4
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
THE STORY BEHIND THIS TRADING TOOL: Most traders lose and this is a fact.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Script works on MetaTrader 4. Place the file in the MQL4/Scripts folder and restart the terminal.
Description & Settings
Related: XI T Buy Sell Auto Stoploss. mq4 - Stoploss set from Fractal Levels, Money management Risk/Reward - another powerful script for MetaTrader 4 traders.
Also recommended: Open Order (With Risk Management, TP and SL) - similar script with strong performance on MetaTrader 4.
THE STORY BEHIND THIS TRADING TOOL:Most traders lose and this is a fact. There are lot of reasons behind their losses, but the main reason in my opinion is that they can't control their emotions since they are dealing with money. So when we see a trader keep holding a losing trade for so long or when we see a trader closes a winning trade too soon, this trader don't know how to manage emotions.
For example, if we give Ben, Joey and Rachel the same trading plan with the same balance and the same trading information, in the end of the day every one of them will have a different result because they are human beings and have emotions.
So what I did, I create an eyeglasses (a.k.a. the RiskPerTrade trading tool) that will allow Ben, Joey and Rachel to see everything on their screen in terms of % instead of money.
I urge you to try wearing these eyeglasses :)
HOW TO USE IT :
You can check the following video that will explain how to use this trading tool
SCREENSHOTS :
ALTERNATIVE TRADING TOOL:
You can also consult the following script which is the
THE STORY BEHIND THE OVERALL RISK TRADING TOOL:
The story behind developing this trading tool was to build a good trading habit, which is to always think in terms of percentage rather than amount of money. This way will allow us to treat small accounts as we are treating bigger accounts, which will allow us to switch from small accounts to bigger accounts smoothly.
HOW TO USE IT :
You can check the following video that will explain how to use this trading tool
You may also like: Lot sizing risk based and also converting the currency of the account - excellent alternative for script users on MetaTrader 4.
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.
