Discussing the article: "Developing a multi-currency Expert Advisor (Part 14): Adaptive volume change in risk manager"
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Check out the new article: Developing a multi-currency Expert Advisor (Part 14): Adaptive volume change in risk manager.
The previously developed risk manager contained only basic functionality. Let's try to consider possible ways of its development, allowing us to improve trading results without interfering with the logic of trading strategies.
In one of the previous articles of the series, I touched on the topic of risk control and developed a risk manager class that implements basic functionality. It allows setting a maximum daily loss level and a maximum overall loss level, upon reaching which trading stops and all open positions are closed. If a daily loss was reached, trading was resumed the next day, and if an overall loss was reached, it was not resumed at all.
As you might remember, the possible areas for the risk manager development were a smoother change in the size of positions (for example, a two-fold reduction when half the limit is exceeded), and a more "intelligent" restoration of volumes (for example, only when the loss exceeds a position reduction level). We can also add a maximum target profit parameter, upon reaching which trading also stops. This parameter is unlikely to be useful when trading on a personal account. However, it will be in great demand when trading on the accounts of prop trading companies. Once the planned level of profit is reached, trading can usually be continued on another account only.
Author: Yuriy Bykov