Daily PL risk management

Daily P/L Risk Management is a MetaTrader 5 utility that watches your account's daily profit and loss and acts automatically when a limit is hit. It tracks both realized and unrealized P/L and can close positions, disable trading or alert you. It is a practical safety net for prop-firm challenges and disciplined day trading.

Features

• Daily loss and profit limits, set by money amount or percent of balance/equity.
• Combined P/L tracking: counts both closed-trade (realized) and open-position (unrealized) results, so limits reflect your true daily state.
• Automatic action on limit: close all positions, disable further trading for the day, or just send an alert.
• Optional max-drawdown protection as a second safety layer.
• Helps you respect daily-loss rules without watching the screen all day.

Inputs

• Daily Loss Limit: amount or percent that triggers the loss action.
• Daily Profit Target: amount or percent that triggers the profit action.
• Limit Mode: money or percent.
• Include Unrealized P/L: count open positions toward the limit (on/off).
• Action On Limit: Close All, Disable Trading, or Alert Only.
• Max Drawdown: optional account-protection threshold.
• Reset time for the daily counter.

Outputs

• On-chart status showing current daily P/L against your limits.

Alerts

When a limit is reached, it can send a screen popup, sound, push notification and email, and execute the chosen action.

Limitations

The utility acts on your account's positions; it cannot recover losses or override broker conditions such as slippage at execution. The daily reset depends on the chosen time/server settings. It enforces limits but does not place trades.

Full guide: see the Comments section.

Group support: https://www.mql5.com/en/channels/vuongphamtrading