A MetaTrader 5 risk manager whose limits actually hold

Limits set in the dashboard

A limit is set for one account or for «All accounts» — then it applies to each account separately, not to their sum. The action is your choice: «Warn at 70% and 90%, close new entries at 100%» or «Warn only».

How T-Manager enforces limits

• Once a minute the EA fetches the rules from the dashboard, but it calculates them itself from the account history in the terminal. Daily loss is the day's closed trades with commission and swap plus the floating loss of open positions (floating profit does not reduce it), as a percentage of the balance at the start of the day; the dashboard counts it the same way. Drawdown is measured from peak equity adjusted for deposits and withdrawals. A trade never waits for the network.
• From 70% of a limit a yellow «Risk: … (N% of limit)» line appears on the chart; at 70, 90 and 100% the dashboard creates an event and sends a notification.
• At 100% a red «TRADING BLOCKED BY RISK» banner shows the reason and the reset time. Open positions are not closed: you manage them as usual.
• Without a connection the last received limits apply — they are stored in a file that is encrypted and bound to the account. The licence works offline for 72 hours; after that only new entries are closed.

The block applies to entries made through the T-Manager panel, and trades from the standard MetaTrader window or other EAs count towards the daily loss, drawdown and trade count.

Manual trading panel

• Position size from risk: in money, in percent or in lots; the risk base is balance, equity, free margin, a custom amount or the balance at the start of the day, week or month.
• One-click BUY and SELL, and an order drawn as lines you drag on the chart.
• Stop loss from recent bars or from ATR.
• Automatic or one-button breakeven, trailing stop, partial closes including dynamic levels.
• Close 10, 25, 50, 75 or 100% of a position, winners or losers only, by side; auto-close on profit or loss, «close all» with confirmation.
• Virtual stops, take profits and pending orders, OCO, trailing pending orders.
• The header shows total risk if every stop is hit and the number of positions without a stop.

There is also a local «Day control» in the EA inputs — daily profit target, losing streak, pause after a loss, prop drawdown, a news filter based on the MetaTrader 5 calendar and a trading window. It is off by default.

Prop account

In the account settings you set the phase (1, 2, 3 or Funded), the profit target and the daily and total loss limits. The account page shows «Target X%: Y%» and the daily and total loss against the limit — from the starting balance, with the day starting at midnight. This is progress tracking; trading is stopped by the risk manager rules. More in «Prop firm risk management».