Drawdown Limiter Advanced
Whether you are a trader that use Expert Advisors (EA) or you trade manually, if you decided to obtain a funded account and you are going to start an evaluation phase with a Prop Firm (like FTMO, MyForexFunds, FundedNext and all the other ones available), you will surely need to pay close attention to put a daily drawdown limit.
That seems easy, at least in words, but dealing with the rigid rules of a Proprietary Firm leave no space for mistakes, distractions, emotional blindness or execution delays.
Right for this, the best way to manage your drawdown limit is using a program that is going to monitor your drawdown level automatically at all times and take the right actions to ensure you don't break any rules throughout the whole process of getting funded and then managing a funded account reducing the risk of losing it.
For you, the Drawdown Limiter - Advanced will:
- Monitor the Daily Drawdown
- Monitor the Overall Drawdown
- Close all the positions once your drawdown limit is reached
- Delete all the pending orders once your drawdown limit is reached
- Advise you by e-mail (if you want to)
- Prevent the breach of max daily drawdown rule when closing the day with realized profit but floating losses that would overcome the max daily drawdown of the next day.
- Monitor the Balance / Equity a the start of a new range and the current level of it
- Monitor the Realized and Unrealized Profits and Losses for the day measured in percentage and account currency
The graphic interface is very easy to understand and it show more than the essential information.
You can decide what to see by clicking the button to show more or show less.
PLEASE, consult the User Guide before relying on the Expert Advisor.