Here is a simple risk management Expert Advisor that I finished a while back as I needed a way to automatically engage my trading plan without human hesitation.. :crap:
If you can not improve your discipline while your hard earned money is at risk, than you should be using DisciplineTrader.
EA attached below.
Version 1.1 includes a Stoploss function that will automatically set a Fixed Stop Loss on all orders (only if open order does not include a stoploss: This function will not override a stoploss value that you decided earlier). This is a handy feature for ECN brokers that do not allow a market order to be executed with Take Profit and Stop Loss in the OrderSend parameters. This eliminates the extra step of adding a Stoploss to our orders and ensures that all trades have a Fixed Stoploss. We are currently using a 50 Pip stop loss on our managed accounts.
Feature Added
Fixed Stoploss for all open orders
Commonly Asked Questions
Attach EA on any chart or timeframe
Only 1 EA is needed per account
Basket Values are in $$$ and not Pips
EngageStopOut must be True to engage closing conditions based on Discipline Trader’s setting
Monitors All open positions from different magic numbers and currency pairs
If your trades are closed at your x % loss or through Basketprofit/loss, the EA will continue to work
EX4 file must go within the metatrader4/experts/ folder