The Risk Manager Expert Advisor for MT4 is a very important and, in my opinion, a necessary program for every trader.
With this advisor, you can manage the total on your trading account. Control can be carried out both in the marginal monetary equivalent of US dollars of maximum losses on the account, and in percentage.
For the advisor to work, simply attach it to the currency pair chart and set the maximum allowable risk in the deposit currency or in% of the current balance.
The following parameters can be configured in the EA:
Description of settings
Close market orders true / false – if true is selected, orders are deleted if the risk is exceeded.
Delete pending orders true / false – if true is selected, pending orders are deleted if the risk is exceeded.
Pause after error in seconds – pause before a new attempt to close an order.