Risk Manager for MT5

The MT5 Risk Manager is a crucial tool for every trader who wishes to have a firm hold on their trading risks. This Forex trading software allows you to control and manage risk in your trading operations, whether in monetary or percentage terms. It works by simply attaching it to your currency pair chart, and setting the acceptable risk values in your deposit currency or as a percentage of your current balance.

Functionality of MT5 Risk Manager

As a Forex risk management tool, the MT5 Risk Manager provides several functions that help you maintain control over various aspects of your trade. For instance, it allows you to manage the risks for each deal, daily, weekly, or monthly. It also gives you the power to control the maximum allowable lot when trading, the maximum number of orders per day, and the maximum profit per day. Furthermore, it allows you to set profit taking on Equity.

Automatic SL and TP Setting

One of the unique features of this tool is its ability to set default Stop Loss (SL) and Take Profit (TP) values. If you specify automatic setting in the settings, the tool will set these values for you, ensuring that you do not exceed your risk limits. If this feature is not required, you can simply set it to off.

Alerts and Explanations

The MT5 Risk Manager is not just a tool, it also functions as an advisor. It accompanies each event with an alert, explaining the reason for deleting an order. For example, if you open a 6th order when you’ve allowed only 5 per day, the tool will delete the 6th order and provide an explanation. Similarly, if you open a deal with a larger lot than you initially indicated, the tool will delete the order and explain the reason. This feature is particularly useful in ensuring that you adhere to your trading rules and do not succumb to greed.

Settings Description

The MT5 Risk Manager allows you to customise various settings to suit your trading needs. These include Default SL, Default TP, Max Lot, Max Order same time, and the option to delete pending orders in case of excess risk. It also provides the option to calculate with Swap and Commission, giving you a more accurate picture of your potential profits or losses.

Independent Testing and Updates

For those who wish to learn more about the MT5 Risk Manager, independent testing of this product is available on the forexroboteasy.com website. Subscription to updates on the results of testing this product is also available, allowing you to stay informed about any improvements or changes in the tool’s capabilities.

Sharing Experiences

We invite users of the MT5 Risk Manager to share their experiences using this Forex trading tool. Your feedback can provide valuable insights to others considering this product for their trading operations.

FAQ Section

What is the MT5 Risk Manager?

The MT5 Risk Manager is a Forex trading tool designed to help traders control and manage risk in their trading operations.

How does the MT5 Risk Manager work?

The tool works by attaching to your currency pair chart and allowing you to set the acceptable risk values in your deposit currency or as a percentage of your current balance.

What unique features does the MT5 Risk Manager offer?

It offers several unique features such as the ability to set default SL and TP, control the maximum allowable lot size, control the maximum number of orders per day, and set profit taking on Equity. It also provides alerts and explanations for its actions.

Where can I find independent testing of the MT5 Risk Manager?

Independent testing of the MT5 Risk Manager can be found on the forexroboteasy.com website.

In conclusion, the MT5 Risk Manager is a comprehensive Forex trading software designed to help you gain control over your trading risks. Its functionality, combined with its unique features, make it an essential tool for any trader.