Risk Manager Pro MT5

The Risk Manager Pro MT5, a leading Forex software, serves as an effective risk controller for traders. This expert advisor allows users to define settings that control their trading activities, helping them avoid emotional trading decisions which often derail their trading strategies.

Key Features of Risk Manager Pro MT5

This Forex trading tool offers numerous features that facilitate advanced trading strategies and trading risk management. One primary feature is the ability to set parameters that automatically close open trades and even the trading terminal itself, if required. This feature is designed to prevent unnecessary losses due to impulsive, emotion-driven trading decisions.

The Risk Manager Pro MT5 settings include “Check Limit to Close”, which is used to verify the equity limit, and “Limit to Close”, which refers to the equity limit taken into account. The tool also checks the maximum daily loss limit and the maximum weekly loss limit to ensure that the trader’s strategy does not exceed these thresholds.

Different Types of Limit

Two types of limits can be set with the Risk Manager Pro MT5, namely “SimpleLimit” and “TrailingLimit”. The SimpleLimit is calculated as the maximum drawdown per day. For instance, if the “Check Day Limit to Close” is set to $10 and the starting balance for the day was $100, the Risk Manager will close all positions when the equity drops to $90.

On the other hand, the TrailingLimit is calculated from the maximum profit per day. If the “Check Day Limit to Close” is set to $100 and the balance at the start of the day is $1000, all positions will be closed when the equity drops below $1200.

Additional Features and Settings

The Risk Manager Pro MT5 also offers features such as “Max Amount of Day Trades”, which restricts the number of trades per day, and “Max Amount of Losses Per Day”, limiting the number of losing trades in a day. The software also provides an “Anti Grid” feature that guards against adding to losing trades. Furthermore, the tool considers broker’s commission and swaps in calculations, providing a more accurate analysis of the trading situation.

Other settings also include “Max Drawdown Percentage Per Day”, “Max Amount of Losses in a Row”, and “Max Opened Orders Amount”, among others. These settings are designed to protect the trader from excessive losses and to ensure that the trading activity remains within the defined strategy.

Notifications and Terminal Closure

Finally, the Risk Manager Pro MT5 has settings that allow for PUSH notifications when certain events are triggered. The tool can also close the terminal immediately or with a minute delay if the rules are violated, providing a safety net for traders.

FAQs

Q: Where can I see independent testing of the Risk Manager Pro MT5?
A: You can watch independent testing of this product on forexroboteasy.com and subscribe to updates on the results of testing this product.

Q: Is Risk Manager Pro MT5 suitable for beginners?
A: Yes, the software is designed to be user-friendly and can be used by both beginners and experienced traders alike.

We invite all users of Risk Manager Pro MT5 to share their experiences using the product. This aids in providing a comprehensive review and understanding of the tool from a user perspective.

Please note that this review is independent and is not associated with the developers of the Risk Manager Pro MT5. This review aims to provide potential users with an unbiased overview of the product’s features and capabilities.