Risk Manager for MT4

MT4 Risk Manager is an invaluable tool for any trader in the Forex market, offering a practical solution to manage and mitigate risks in a trading account. The tool, designed as an expert advisor, helps traders control their risk and profit both in monetary terms and as a percentage of their current balance.

Functionality of the MT4 Risk Manager

With MT4 Risk Manager, traders can control the risks associated with each transaction, daily, weekly, or monthly. It allows traders to set maximum allowable lots for trading, a maximum number of orders per day, and even a maximum daily profit. Additionally, the tool can also automatically set default Stop Loss (SL) and Take Profit (TP) levels if these settings are activated.

Alerts and Order Deletion

A unique feature of the MT4 Risk Manager is its ability to alert the trader about each event and explain the reason for deleting an order. This is especially useful if a trader opens more orders than the set limit or trades with a larger lot than prescribed. If the trader exceeds their daily profit limit, the tool will prevent any further trading until the next day.

This feature essentially acts as a safety net, preventing traders from losing more than what they have set as their acceptable risk.

Customizable Settings

The MT4 Risk Manager offers a variety of customizable settings. Traders can set a default SL and TP when opening a deal, with the option to turn these settings off. They can also set the maximum allowable lot on the account, the maximum number of orders that can be opened simultaneously, and choose to delete pending orders in case of excess risk. The tool also calculates swaps and commissions.

Independent Verification

For those who want to see the tool in action, independent testing of the MT4 Risk Manager is available on the forexroboteasy.com website. Users can also subscribe to updates on the results of testing this product, providing real-time insights into its performance and reliability.

FAQ Section

What is the MT4 Risk Manager?

MT4 Risk Manager is an expert advisor tool designed to help Forex traders control and manage the risks associated with their trading account.

How does MT4 Risk Manager help in risk management?

MT4 Risk Manager allows traders to set acceptable risk parameters, like the maximum allowable lots, number of orders per day, and daily profit limit. It also alerts traders when these limits are exceeded and prevents further trading.

Can MT4 Risk Manager automatically set Stop Loss and Take Profit levels?

Yes, MT4 Risk Manager can automatically set Stop Loss and Take Profit levels if these settings are activated.

Where can I see independent testing of the MT4 Risk Manager?

Independent testing of the MT4 Risk Manager is available on the forexroboteasy.com website.

We welcome all users to share their experiences with this product. Your feedback not only helps other traders but also contributes to the continuous improvement of the tool. Please note that this article is an independent product review and does not endorse or promote any specific product.