risk manager
Info
The risk manager is a Expert Advisor for MetaTrader 5 that the risk manager controls and limits the overall loss for the account, and the loss for every deal. it includes trailing stop for the account.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use risk manager
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.
What this tool does
the risk manager controls and limits the overall loss for the account, and the loss for every deal.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: Quantora Trade Manager MT5: Advanced Position Management - another powerful expert for MetaTrader 5 traders.
the risk manager controls and limits the overall loss for the account, and the loss for every deal.
Also recommended: Quantora Break Even Manager MT5 - Automated Stop Loss Protection - similar expert with strong performance on MetaTrader 5.
it includes trailing stop for the account. when exceeding the preset values (in %) the open positions are closed by market orders. all pending orders are removed.a balance check is performed once a day when the date changes. it uses the trade server time, i. e. the time of the last quote.
the ea has been tested on a real account for forts derivatives market and on a demo account metaquotes-demo for forex.
expert advisor parameters:
day risk % - maximum percentage of loss for a day.
deal risk % - maximum percentage of loss for every deal. zero value disables this function.
trailing stop % - trailing stop percentage for a day profit.
You may also like: Quantora Position Size Calculator MT5: Professional Risk-Based Lot Size Calculation - excellent alternative for expert users on MetaTrader 5.
Source Code
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⚠ 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.