RisklyTrailing MT4
- Utilities
- Version: 1.10
- Activations: 5
RisklyTrailing turns one manual entry into a group of positions without take profit and manages each of them with a step stop, so the first positions lock profit early and the last ones stay in the market for long moves.
How it works
- Open a position manually: RisklyTrailing opens the additional positions you choose, all with the same stop loss and no take profit.
- After a set profit, all positions move to break-even (with a small margin beyond the entry).
- Step stop: at +1 step the first position locks its stop at +1 step, at +2 steps the first two lock at +2, at +3 steps the first three lock at +3, and so on. Stops only move in your favour.
- The last N positions can be left without steps (break-even only) to ride long trends.
- Optional "give room" setting: the step stop is placed a few pips below the step.
Protection
- Maximum risk of the whole trade (all positions together): if exceeded, the trade is not scaled in.
- Maximum daily loss: when reached, positions are closed and new trades are blocked until the next day.
Important
- RisklyTrailing does not open trades by itself: it only adds positions to the trade you open.
- Distances are in pips: 1 pip = 0.0001 on most forex pairs (0.01 on JPY pairs), 0.10 on gold and 0.01 on silver.
- A hedging account is required.
- In the Strategy Tester there is no manual trader, so the EA opens minimum-lot demonstration trades (comment "Riskly demo") to show how it works. On a live or demo account it never opens trades on its own.
