Opened a trade on your phone without a stop loss? Let MetaTrader 5 fix it
The MT5 mobile app is the fastest way to catch a move and the easiest way to break your own rules: no lot calculator, the last lot you used is still in the box, and the stop loss is one more screen away.
TrueRisk Trade Manager can watch for exactly these trades. Switch on two inputs and any manual trade (phone, web terminal, one-click trading) opened while it runs gets:
- the panel's stop loss and take profit, if it has none, after a short grace period
- its lot cut to your risk % and to the room left before your loss limits
It only ever makes the lot smaller, never bigger. So you can open from the phone with a generous lot and let the manager size it.
Live test on a demo account (EURUSD, 0.5% risk on about 50,300): a 3.00 lot trade was cut to 1.25 lot (250.00 at risk); a 2.00 lot trade opened without a stop got a stop and target added, then was cut to 1.96 lot (250.88 at risk).
Both inputs are off by default, so nothing changes until you turn them on. The manager also runs the trades you open from its panel: half closed at 1R, stop to break-even at 1R, trailing stop from 1.5R.
User guide: https://www.mql5.com/en/blogs/post/777319
TrueRisk Trade Manager MT5 ($59, or rent 3 months for $30): https://www.mql5.com/en/market/product/200816
Already using a TrueRisk tool? A short review on its Market page helps other traders find it and tells me what to improve.
