Discussing the article: "Risk Management (Part 5): Integrating the Risk Management System into an Expert Advisor"

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Check out the new article: Risk Management (Part 5): Integrating the Risk Management System into an Expert Advisor.

In this article, we will implement the risk management system developed in previous publications and add the Order Blocks indicator described in other articles. In addition, we will run a backtest so we can compare results with the risk management system enabled and evaluate the impact of dynamic risk.

Welcome to the final part of our risk management series. In this article, we will explore how using the risk management system changes results: whether it makes a significant difference, the pros and cons of a dynamic approach to risk management, and when it makes the most sense.

We will answer these questions by creating a simple Expert Advisor that uses the Order Blocks indicator described in previous risk management articles.

Let’s start by optimizing this indicator, which will enable faster and more efficient backtests and make it easier to optimize the Expert Advisor.

We will also walk through the step-by-step process of creating an Expert Advisor, defining its parameters, and integrating key events such as OnTradeTransaction, which should only be handled within that function.

Finally, we will answer the questions raised in this article by running four tests of the Expert Advisor with different parameter combinations. This way, we will compare trading with and without loss and profit limits and assess when dynamic risk management is most effective.

Author: Niquel Mendoza

Author: Niquel Mendoza