Lot Loss
Info
The Lot Loss is a Script for MetaTrader 5 that simple risk management tool, that calculates required lot size according to amount of money trader affords to lose and stop-loss in points. INPUTS Risk-Money: money to sacrifice.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Scripts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Lot Loss
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
Simple risk management tool, that calculates required lot size according to amount of money trader affords to lose and stop-loss in points.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Script works on MetaTrader 5. Place the file in the MQL5/Scripts folder and restart the terminal.
Description & Settings
Related: Profit and Losses represented in Pips - another powerful script for MetaTrader 5 traders.
Simple risk management tool, that calculates required lot size according to amount of money trader affords to lose and stop-loss in points.
Also recommended: closing partially script and Stop loss to Break Even point - similar script with strong performance on MetaTrader 5.
INPUTSRisk-Money: money to sacrifice.
Stop-Loss Points: stop-loss in points.
EXAMPLE
AUDJPY Sell Order
Risk-Money: 1000 USD
Open Price: 73.706
Stop-Loss: 76.130
Stop-Loss Points: 76.130 - 73.706 = 2.424 (2424 points)
Lots: 0.45
You lose 1000 USD, if you hit stop-loss with 0.45 lots position.
You may also like: Group transfer Stop loss - excellent alternative for script users on MetaTrader 5.
⚠ 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.