Money Fixed Risk
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Money Fixed Risk
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
Description & Settings
An example for calculating the lot value in accordance with the risk per trade.
What's new:
added two methods for outputting (printing) the calculated lot. Method 1 — when setting StopLoss to zero.
//--- variant #1: StopLoss=0.0 sl=0.0; check_open_long_lot=m_money.CheckOpenLong(m_symbol.Ask(),sl); Print("sl=0.0", " CheckOpenLong: ",DoubleToString(check_open_long_lot,2), ", Balance: ", DoubleToString(m_account.Balance(),2), ", Equity: ", DoubleToString(m_account.Equity(),2), ", FreeMargin: ", DoubleToString(m_account.FreeMargin(),2));
Method 2 — see the code listing below:
//--- variant #2: StopLoss!=0.0 sl=m_symbol.Bid()-ExtStopLoss; check_open_long_lot=m_money.CheckOpenLong(m_symbol.Ask(),sl); Print("sl=",DoubleToString(sl,m_symbol.Digits()), " CheckOpenLong: ",DoubleToString(check_open_long_lot,2), ", Balance: ", DoubleToString(m_account.Balance(),2), ", Equity: ", DoubleToString(m_account.Equity(),2), ", FreeMargin: ", DoubleToString(m_account.FreeMargin(),2));
Also, now the result of a trading operation is checked:
First check: if the end of the method operation returned "true", but the method returned "0" (this may happen in case of requotes) — the "count" counter should be decreased by one.
Second check: if the end of the method returned false "false", the "count" counter should be decreased by one.
Why do we need to decrease "count" by one? In this case we do not have to wait 980 ticks again, but we can try to enter on the next tick.
How it works:
Set risk percent per trade (the
% risk
parameter) and Stop Loss (
StopLoss (in pips)
parameter). This defines parameters of possible deposit loss.
The following loop is implemented to simulate trading:
Initial value count=-21 is set to "warm up" the strategy tester. Then the remainder after devision of count by 980 (this number was chosen randomly) is calculated. It means that every 980 ticks lot calculation cycle is started, in which lot is calculated taking into account the risks per trade.
The lot calculation cycle depending on risk per trade (calculation for the Buy position):
Step one //--- getting lot size for open long position (CMoneyFixedRisk) double sl=0.0; double check_open_long_lot=0.0; //--- variant #1: StopLoss=0.0 sl=0.0; check_open_long_lot=m_money.CheckOpenLong(m_symbol.Ask(),sl); Print("sl=0.0", ", CheckOpenLong: ",DoubleToString(check_open_long_lot,2), ", Balance: ", DoubleToString(m_account.Balance(),2), ", Equity: ", DoubleToString(m_account.Equity(),2), ", FreeMargin: ", DoubleToString(m_account.FreeMargin(),2)); //--- variant #2: StopLoss!=0.0 sl=m_symbol.Bid()-ExtStopLoss; check_open_long_lot=m_money.CheckOpenLong(m_symbol.Ask(),sl); Print("sl=",DoubleToString(sl,m_symbol.Digits()), ", CheckOpenLong: ",DoubleToString(check_open_long_lot,2), ", Balance: ", DoubleToString(m_account.Balance(),2), ", Equity: ", DoubleToString(m_account.Equity(),2), ", FreeMargin: ", DoubleToString(m_account.FreeMargin(),2)); if(check_open_long_lot==0.0) return;
Then the calculated lot value for a Buy position taking into account StopLoss is received to the check_open_long_lot variable using the method of the class:
double check_open_long_lot=m_money.CheckOpenLong(m_symbol.Ask(),m_symbol.Bid()-ExtStopLoss);
The following parameters are printed to the Experts journal: StopLoss, calculated lot value in accordance with the risk per trade, trade account balance at the time of calculation, margin at the moment of calculation.
If the calculation returns "0.0", exit:
if(check_open_long_lot==0.0) return;
Step two
Then we receive the lot value of the Buy position for which we have sufficient funds; the value is received to the chek_volime_lot variable using the CheckVolume method of the class. The following parameters are passed here: m_symbol.Name() — symbol name, check_open_long_lot — position volume we want to open (this parameter was calculated earlier):
//--- check volume before OrderSend to avoid "not enough money" error (CTrade) double chek_volime_lot=m_trade.CheckVolume(m_symbol.Name(),check_open_long_lot,m_symbol.Ask(),ORDER_TYPE_BUY);
Step three
If the CheckVolume method returns a value other than "0.0", then we check the condition: do we have enough money to open a position with the lot calculated in accordance with the risk.
if(chek_volime_lot!=0.0) if(chek_volime_lot>=check_open_long_lot) m_trade.Buy(chek_volime_lot,NULL,m_symbol.Ask(),m_symbol.Bid()-ExtStopLoss,m_symbol.Bid()+ExtStopLoss); else Print("CMoneyFixedRisk lot = ",DoubleToString(check_open_long_lot,2), ", CTrade lot = ",DoubleToString(chek_volime_lot,2));
If we have enough money, open the position, if not — the lot value calculated in accordance with the risk per trade (DoubleToString(check_open_long_lot,2)) and the lot value for wich we have enough funds (DoubleToString(chek_volime_lot,2)) are printed to the Experts journal.
Example (when you test in the Strategy Tester, choose EURUSD, M1, testing period from 2016.11.28, deposit $3000):
A Buy position was opened (extract from the tester journal) — the calculated lot based on risk per trade is 2.23.
Money Fixed Risk (EURUSD,M1) 2016.11.28 00:03:24 sl=0.0 CheckOpenLong: 0.01, Balance: 3000.00, Equity: 3000.00, FreeMargin: 3000.00Money Fixed Risk (EURUSD,M1) 2016.11.28 00:03:24 sl=1.05942 CheckOpenLong: 2.23, Balance: 3000.00, Equity: 3000.00, FreeMargin: 3000.00Trade 2016.11.28 00:03:32 instant buy 2.23 EURUSD at 1.06076 sl: 1.05942 tp: 1.06142 (1.06042 / 1.06076 / 1.06042)Trades 2016.11.28 00:03:32 deal #2 buy 2.23 EURUSD at 1.06076 done (based on order #2)Trade 2016.11.28 00:03:32 deal performed [#2 buy 2.23 EURUSD at 1.06076]Trade 2016.11.28 00:03:32 order performed buy 2.23 at 1.06076 [#2 buy 2.23 EURUSD at 1.06076]Money Fixed Risk (EURUSD,M1) 2016.11.28 00:03:32 CTrade::OrderSend: instant buy 2.23 EURUSD at 1.06076 sl: 1.05942 tp: 1.06142 [done at 1.06076]Money Fixed Risk (EURUSD,M1) 2016.11.28 00:48:32 sl=0.0 CheckOpenLong: 0.01, Balance: 3000.00, Equity: 2828.29, FreeMargin: 462.80Money Fixed Risk (EURUSD,M1) 2016.11.28 00:48:32 sl=1.05899 CheckOpenLong: 2.60, Balance: 3000.00, Equity: 2828.29, FreeMargin: 462.80Money Fixed Risk (EURUSD,M1) 2016.11.28 00:48:32 CMoneyFixedRisk lot = 2.60, CTrade lot = 0.43Trade 2016.11.28 00:53:15 stop loss triggered #2 buy 2.23 EURUSD 1.06076 sl: 1.05942 tp: 1.06142 [#3 sell 2.23 EURUSD at 1.05942]Trades 2016.11.28 00:53:15 deal #3 sell 2.23 EURUSD at 1.05942 done (based on order #3)Trade 2016.11.28 00:53:15 deal performed [#3 sell 2.23 EURUSD at 1.05942]Trade 2016.11.28 00:53:15 order performed sell 2.23 at 1.05942 [#3 sell 2.23 EURUSD at 1.05942]
It turned out that funds are not enough to open the second position.
Pay attention to the fact, that when StopLoss is not specified (StopLoss=0.0), the calculated lot is equal to the minimum allowed lot value.
As a result, the first position was closed by stop loss with a loss of 298.82:
This corresponds to almost 10% risk of $3000 deposit.
