Account Protector Metatrader 4
This utility prevents risk of ruin per trading cycle.
Retail forex trading accounts are designed with stop out levels that make it impossible to quickly restore lost trading capital (to initial levels) in the event of a human or algorithm trader " blowing" an account. This hampers the efforts of a trader who after growing an account investment to a multiple of its initial value, suddenly suffers irreparable loss because of several trade entry mishaps.
The Account Protector solves this challenge by enforcing that a significant amount of your capital remains, whenever net losing positions threaten total equity loss.
This Expert Adviser's approach is more satisfying than a simple stop-loss setting as it provides a tolerance for recovery before shutting down all trading activity.
It is discourages overtrading , when a trader has experienced sufficient stop loss hits in one trading day, so that a trader is forced to wait until the next day before resuming trading activity.
It goes a step further by hampering a human or algorithm trader from initiating new positions by closing/shutting off your Meta Trader application on Windows , which removes it from your work space.
It also provides a hedging option that occurs before the maximum draw down set level is reached.
It also sends you mobile notifications in real time whenever critical activities occur on your trading accounts
DRAW DOWN SETTINGS
Minimum Equity Retention (Percentage of Account Balance)
Minimum Investment Retention (in Account Currency Units)
Shut Down MT4 after Closing Trades (true/false)
HEDGE SETTINGS
Hedge all Trades (true/false)
Hedge Equity (Percentage of Account Balance)
Critical Free Margin Hedging (Percentage of Account Balance)
Margin-Hedge Re-activation Margin (Percentage of Account Balance)
COMMUNICATION SETTINGS
Send Notification to MetaTrader App on Mobile Device
HOW TO USE
1. Draw Down Settings
Indicate the minimum retention of your investment here.
If your trades are positive, this value updates every 24 hours.
A. You determine the percentage of your funds, you desire to preserve, no matter the trading eventualities.
B. You can alternatively determine the monetary value of your funds you desire to keep no matter the trading circumstances. Most traders after flipping/doubling an an account, update this value to their initial investment value here to ensure they have similar circumstances if they have to start again.
The higher of these two values is used by the program for determining the maximum draw down allowed on the account it runs on.
C. You can select whether the program closes the Meta Trader 4 Terminal in case the minimum retention value is hit, after exiting all trades.
2. Hedge Settings
A. You select if hedging functionalities are switched on or off.
B. You select the percentage of account equity (in account balance terms) at which hedging occurs, this value must always be higher than the inputted minimum retention value.
C. You select the percentage of the free margin (in account balance terms) at which hedging occurs. It must be noted that if the free margin is less than zero, option 2B becomes null and void, as new hedge positions will not be allowed on the account. To turn this option off, simply set this value to zero "0".
D. Whenever position(s) are hedged, and part or all of the hedged positions are closed, the price levels must move a certain distance from the levels where hedging occurred for the program's hedging property to get active again. This allows account recovery if one gets the market direction right, and prevents persistent hedging at the selected equity hedge level.
3. Communication Settings
A. Input your MetaQuotes ID in your Windows MetaTrader Desktop Application to get notified on your mobile device whenever a drawdown maximum or a major action is taken on your account.
B. Turn this option on or off.
Please use this link to get the font that makes this Utility appear nicely on your Meta Trader Desktop App
