Prop Max Daily Loss Manager

Prop Max Daily Loss Manager — Daily Risk Management Assistant for Prop Trading Firms

Prop Max Daily Loss Manager is a MetaTrader 5 utility designed for traders taking Challenges or trading on Funded accounts with prop companies (such as FTMO). The tool automatically monitors daily risk and helps avoid violating the established maximum daily loss limit.

Key Features

• Automatic closure of all trades when the specified daily loss level is reached;
• Alert notifications when the limit is triggered;
• Flexible configuration: choice of loss calculation type (in % or account currency);
• Support for different risk calculation methods: from initial balance, daily starting balance/equity, or maximum value;
• Recommended to set the limit 10–20% below the specified level to account for possible slippage.

Settings

• Input your Challenge\Funded Account Balance — specify the initial balance of your Challenge\Funded account;
• Input Maximum Daily Loss % in Challenge\Funded Account: — enter the maximum daily loss percentage;
• Calculation loss type — select your prop's loss calculation method:
  • Started Balance — from initial balance;
  • Today's Balance/Equity — from balance/equity at the start of the current day;
• Risk From — specify the source value for calculation:
  • Balance - risk will be calculated from the account balance at the time of drawdown reset and will not consider equity;
  • Equity - risk will be calculated from the account equity at the time of drawdown reset and will not consider balance;
  • Balance/Equity - risk will be calculated from the highest Balance/Equity value at the time of drawdown reset.
• Select risk based type — risk type:
  • Percent - risk calculation in percentages;
  • Amount/Money - risk calculation in account currency, in monetary terms.
• Input your custom max daily risk — enter your custom daily risk value;
• Display the Alert? — show message when limit is reached (true/false);
• Close all trades? — close all trades across all symbols if my set loss level is reached? close all trades when limit is reached (true/false).

Usage Example

If the maximum daily loss set by the prop company is 5%, you can set the limit at 4.5%. This creates a protective buffer of 0.5% in case of slippage. When the specified level is reached, the utility will automatically close all trades and display a message if necessary.

Who It's For

• Traders taking FTMO Challenges (and others) or already trading;
• Those who want to automate compliance with daily loss limits;
• Anyone trading under strict risk management conditions.