Advisor Risk manager for MT4 and MT5 platforms

SeniorTrader

Recruit
Messages
5
Hello dear forum users!

I am new to this forum, but I am far from new to trading!

I have been trading for many years and the most important thing is that I realized that money management is the MOST IMPORTANT thing in trading !!!


While in the branch with forex advisors, I saw that a lot of people write about advisors with averaging, martingale, and very often they are called "advisors without Stop Loss"

In fact, you can also make money on them by applying the right approach to calculating and managing risk. For many, it is a pain that they cannot control the stop loss of the advisor, so today I want to share with you the advisor Risk manager for MT4 and MT5 platforms.


The main essence
of this advisor is that it controls - the size of the maximum loss for all open positions, after reaching which the EA will fix the loss and close the orders.

Thus, if you have orders without stop loss and, for example, there is a strong movement in the market late at night, you can cut your losses, even if the trading robot you are using does not use SL
 

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liability

Private, 1st Class
Messages
26
It is obvious from the beginning that risk mgmt is very important for the forex trading along with money mgmt. But thank you for sharing that as well
 

Granigamand

Private, 1st Class
Messages
52
Personally, I don't really trust all these programs. As for me, it's better to do all this on your own and not to trust the management of your account to some third-party programs. If I have learned anything in trading, it' s only that you can trust your account and your money only to yourself.
 

SeniorTrader

Recruit
Messages
5
Personally, I don't really trust all these programs. As for me, it's better to do all this on your own and not to trust the management of your account to some third-party programs. If I have learned anything in trading, it' s only that you can trust your account and your money only to yourself.
You can only control your account when you are at your PC. But in trading, anything can happen and you can accidentally open a deal with the wrong volume and forget about it, for such cases you need a rick manager. This robot does not open deals itself, it can only close them.
 

Talar

Private, 1st Class
Messages
63
Lol same here. Moreover, my friend was scammed like that. He trusted some shady program, too, and then he had to restore his data. It was just awful, he was very upset. Since then, he has been checking everything several times. And that sounds like the right approach to me. You can't trust everyone, you have to check everything. Especially if there's money involved.
 

Olieng38

Sergeant
Messages
140
It is very right that we are talking about risk minimization in any format of work, because it allows you to get the result you have planned and reduce the possibility of loss in any circumstances. And this is a big plus.
 

Bearad

Private
Messages
22
Any format of work on the market - active or passive, should take into account such moments, because it allows, firstly, to save capital, secondly, not to violate the rules of financial resources allocation, and thirdly, to avoid stressful moments.
*Good luck to everyone and thank you for the useful information.
 
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