Max daily/weekly/monthly profit/loss (money/percent)
Can you please add an option to stop trading for the day once a certain max target profit is hit on each trading day? This would help a lot in money and risk management. Thank you
Duplicates 5
TargetProfit (ccy / %) to allow us to withdrawal
Max daily/weekly/monthly loss
I am running the EA across 13 charts (FX, Commodities) so there are many instances of it. Would it be possible to have a global risk/money management system? So like a global, daily stop loss in your currency (USD, GBP) and a global profit as well on a daily basis. Or as a % of your balance etc. I think a few people might be doing this. Otherwise, you will just end up installing many instances of MT5 for each account/portfolio you have. Something on a global level would suit me and maybe others
daily target
would like to suggest having a daily target and then ea off “firsts” for the day. for some people, we’d like to aim a certain amount and get out of the market. helps in preventing being stuck in further DD. currently am using another ea to help stop trades the moment it hit target profit. would love to see it built-in CP as well.
Target Profit/Take Profit for the week?
Is there some way to set a profit target for the week for the bot? Currently, we have a target profit and stop till tomorrow after close which allows a daily profit target. But would there be a current way to set a weekly target? Or could this be looked at to be implemented?
I feel as though the weekly target is much better. Since 1% a day is great. But.. if we don't hit that 1% for the day but do the next day. We're still down on the week if that makes sense?
I think this would be a really good addition
Add a "Maximum DD"
Not too sure if this has been mentioned anywhere before so apologies if it has!
I had an idea that might be of some use? Limiting the DD the bot is able to make? Say 20% for example. If the current open positions reach a maximum of 20% DD then close the trades and maybe have it set so you're able to stop trading for the day after this has happened?
Would love to know what people think.
Replies 34
Loading EAs on multiple charts cannot be avoided as we follow different set files for each pair.
However, I would like to see the global money management indicating the P&L achieved for that particular pair on the EA GUI.
I think it is good idea to add both Global and Personal Risk Management (max loss for day/week/moonth).
Global TP also can be added. But we can't check how it works before we have multi-set/multi-currency version of EA.
What others think about this?
Even if the above features were implemented just for 1 EA, it would be great. Whilst I don't have a problem running multiple installations of MT5 for a particular account with a broker. I think with having a multiple currency EA would be convenient. Again, there is an easy workaround.
Out of curiosity, how easy is this to implement? And how easy would it be for a user to optimise and save custom parameters for each FX pair or asset. I have been doing loads of testing and would hate to lose the research I have done.
1. So, do you want to add max loss for day/week/month for single EA?
Let's rename this topic and ask community to vote.
2. Multi-set version is complicated one.
But you will not lose your sets, you just need to save all sets to one folder and run multi-set version of CP with link to this folder.
I think option 1 is the most viable for the short term and I think its reasonable to achieve. No 2 is the dream of course.
I've added new topic for multi-set version — https://communitypowerea.userecho.com/communities/1/topics/135-multi-set-multi-currency-as-well-version-of-ea
So, this should be renamed for "max daily/weekly/monthly loss"
Yes I want to withdraw in strategy tester automaticly when expert earned X amount of money
It's only possible with MT5
Please check PS Tsunami in MQL5
PS Tsunami offers withdrawal option in backtests..
TargetProfit in absolute units (I mean "x" eur or usd, the units of the account) or in %. Once reached the EA stop opening new trades (to allow us to withdrawal, for example)
Original idea by Fabio Campos