How do I change the money management settings on a paid subscription please?
2 settings you can use
1) risk%, set it higher or lower base on how much you wanted to risk. MQL used this as part of lot ratio calculation
2) set equity$, this meant once your equity <= equity$ on the signals tab, MQL will KILLED all open trades from the providers and PREVENT new trades from provider from opening into your mt4
You can also run your own written/purchased/freebie order management EA alongside subscription on your mt4. You can even run multiple EA within same acct. Is NOT recommened to run combo of subs + EA or other subs etc etc, coz of margin level/margin requirement and u can easily MC/SO out (margin call, stop out)
How to Configure the Trading Platform to Use Signals:
Forum on trading, automated trading systems and testing trading strategies
91063848, 2016.10.12 00:54
In MetaTrader 5 You could have only one position general, one symbol on time that same. so if accounts customer and providers accounts have position open ?
Sorry, I do not understand English well.
The text below says that if I unsubscribe the singal, the money is still deducted me. Is there a refund, since I have not used the signals for the whole month?
20. Can I unsubscribe from the Signal in the same way I subscribed to it?You can cancel the Signal subscription in My Subscriptions on https://www.mql5.com/en/signals or directly in the terminal: see MetaTrader 5 Help → User Interface → Toolbox → Signals: Unsubscribe from Signal. If you unsubscribe from a fee-based Signal, the amount blocked in your account for payment of the subscription fee will be deducted from your account upon canceling the subscription.
unfortunately once u subs to a signal there is no changing allowed.
1) Let the current subs expired and subs using your live acct to the same signals
U may skype me for alternative solution
It wont necessarily lower the drawdown. Few thingies you may want to learn
1) Leverage. eg u wanted to buy 0.01lots (1000 units) of EU@1.3 and your initial balance was USD1k
Calculation: 1000 units * $1.3 (price) ==> $1300
without leverage you would need $1300. With a leverage of eg 500, you would need to put aside $2.60
2) Margin required This is the margin required for all your open positions. In the above example assuming one open trade of EU, 1000units @1.3, its USD2.60
This is also Margin Used
3) Equity. Equity=Balance less floating loss or add floating profit
4) Margin level. Margin level=(Equity/Margin used) * 100%
If broker has set margin level 100% as margin call and you had reached this level or lower you will see the equity etc displayed at bottom of mt4 turning pink
If broker has set stop out at 50%, when margin level <= 50%, the largest lossing position will be killed/stop out by broker
For more specifics regards how drawdown is being calculated pls refer to this investopedia definition
Pls also note that for some circumstances drawdown may be measured differently, eg when participating in a fx contest, the sponsor of the contest have the rights to dictate what drawdown measurements are used. Hope this is helpful for you