Risk Manager Pro sizes every trade, tracks your drawdown in dollars and locks the buttons before you cross the line.
Change the risk, drag the stop, switch on the daily limit and take a trade. It works like the panel in MT5, on a pretend account.
Room to risk - no drawdown rule enabled
0.01 lots = $10 risk
Drag the SL line or use the arrow keys on it.
Simulation. Example account and prices. No order is sent anywhere.
Reset puts everything back to the start, so there is no need to wait out the cooldown.
0.50 lots
= $1,000 risk on EURUSD at a 2,000-point stop
Risk a percentage of equity, balance or free margin, a fixed amount, or fixed lots. Set the stop and the lot is worked out and rounded down to your broker’s step.
Daily and max drawdown, fixed or trailing. Set your own line above the firm’s and see the dollars left before it. At the line, positions close and the buttons lock.
BLOCKED cooldown 14:58
A loss starts a cooldown. Until it runs out, the buttons say no.
One button locks the trading rules. Unlocking takes a request and a 12-hour wait.
The cTrader edition has sizing, chart lines, trade management and the drawdown stop. The trading rules, the rule lock, the journal, your own stop above the firm’s and the dollars-left readout are on MT5 only, and cTrader measures drawdown differently (see Questions).
An example session on MT5 with four rules on: daily drawdown 5%, your own stop at 3%, a 15-minute cooldown and 5 trades a day.
Risk 1% on EURUSD with a 200-point stop. The panel works out the lot size and rounds it down to your broker’s lot step.
The panel shows: 5.00 lots = $1,000 risk
The loss is counted at once. With nothing open, the money left before your stop is on screen in dollars.
The panel shows: Room to risk $2,000 of $2,000 floor $97,000 (daily)
The cooldown is running. The button says so before you click, and nothing is sent.
The panel shows: BLOCKED cooldown 14:12
You lost again at 10:05, so the cooldown has run out. The trade you want now risks more than the room you have left. The panel refuses it and names the reason.
The panel shows: BLOCKED $1,200.00 left of drawdown budget
That was the last one for today. The count comes from your account history, so restarting MT5 does not reset it.
The panel shows: BLOCKED 5/5 trades - back in 12:45:00
Equity reaches the line you set. The panel closes every open position on the account, once, and sends no new entries. The firm’s own line is still $2,000 away.
The panel shows: BLOCKED prop-firm rule breached
09:02
$3,000
room left today
Put in your own account. These are the drawdown rules Risk Manager Pro for MT5 checks twice a second.
Room left before your tightest stop
$4,200
Read this before you buy.
Sold on the MQL5 Market and the cTrader Store.