Adding percentage drawdown in metatrader 4

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Is there an option in metatrader 4 settings to add percentage drawdown. For example, we reach 65% drawdown, all positions are closed automatically. As the percentages are introduced according to our strategy. Be it manual trading or using an EA. Thank you!
 
Nikolay Borisov: Is there an option in metatrader 4 settings to add percentage drawdown. For example, we reach 65% drawdown, all positions are closed automatically. As the percentages are introduced according to our strategy. Be it manual trading or using an EA. Thank you!

There is no such built-in option. You have to use a MQL program to do that.

You can either look at the Codebase if something free already exists, or in the Market for paid products (also sometimes free). However, recommendations or suggestions for Market products are not allowed on the forum, so you will have to do your own research.

Finally, you also have the option to hire a programmer in the Freelance section.

 
Fernando Carreiro #:

There is no such built-in option. You have to use a MQL program to do that.

You can either look at the Codebase if something free already exists, or in the Market for paid products (also sometimes free). However, recommendations or suggestions for Market products are not allowed on the forum, so you will have to do your own research.

Finally, you also have the option to hire a programmer in the Freelance section.

I am using an EA that is from MQL and is in the platform. And the creator cannot add a percentage drawdown option. So I want to use an external drawdown option.

 
The question you're seeking an answer for is far too ambiguous, you obtain a 65% drawdown, but then what happens after ? Do you close positions for the day and not trade for the month ? For the quarter ? For the year? Even though I am aware of your example, just an fyi approach, a 65% drawdown is considered highly risk seeking behaviour (which is not considered an attribute to have in the context of portfolio management), implementing such a strategy will only provide benefit of not losing the other 35% of the account, nothing more. You are under utilizing risk optimization. 
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