Daily Loss Lock

Most accounts are not lost on a bad trade. They are lost on the trades that come after it.

You take a stop. Then another one. The daily loss is already on the screen, and the thought comes: "one more trade to get it back". One becomes three, the size goes up, and a day that should have closed at -200 closes at -800. Sometimes it is a week of work. Sometimes it is a funded account.

This is not a strategy problem. It is a risk management problem. Every serious trader has a daily loss limit, but a limit that you can ignore in the heat of the moment is only a suggestion. Daily Loss Lock turns your daily loss limit into a rule that the platform enforces for you.

How it works

You set two limits in account currency.

• Daily Limit (soft). When the day's loss reaches it while you still have a trade open, you receive a warning and your trade is not closed. You keep full control of the position. As soon as you go flat with the day's loss at or above this limit, the account is locked until the next trading day. No new trade, no revenge trade.
• Max Limit (hard). This is the emergency brake. If the day's loss, closed plus floating, reaches it, all positions are closed and all pending orders are deleted immediately, and the account is locked.

When the account is locked, it stays locked

Any new position is closed within milliseconds and any pending order is deleted. MetaTrader 5 can shut itself down, so the temptation disappears from the screen. Closing and reopening the terminal does not unlock it, because the lock is saved and lasts until the next trading day. The next day, trading is released automatically and you start with a clear head.

Why two limits

Many tools close your trade the moment a limit is touched, often at the worst price, right before the market turns. Daily Loss Lock respects your trade management: the soft limit lets you finish the trade you are in, and only stops you from opening the next one. The hard limit protects you from the one scenario you cannot afford.

Features

• Protects the whole account: attach it to one chart and it watches every symbol
• Counts profit, swap, commission and fees, and ignores deposits and withdrawals
• Configurable day start hour (server time), useful to match a prop firm's trading day
• On-chart panel with closed result, floating result, day result, both limits and the lock status
• Warns you when the Algo Trading button is off
• Optional push notifications to your phone
• Checks the account every 250 ms and reacts to every trade event

Inputs

• Daily Limit (default 200): soft limit, locks the account after you go flat
• Max Limit (default 300): hard limit, closes everything at once
• Close MetaTrader 5 while locked (default true)
• Day start hour (default 0): server hour when the lock is released
• Check interval in ms (default 250)
• Show panel and panel corner
• Push notification (default false)

Who it is for

Day traders of indices, forex, metals and stocks on MetaTrader 5, traders working on prop firm accounts with a daily loss rule, and anyone who has already given back a week of profit in one afternoon.

Recommendations

Keep MetaTrader 5 running, ideally on a VPS, because no tool can protect an account while the terminal is closed. Keep the Algo Trading button on. You can try it for free in the Strategy Tester, where the utility opens small demonstration trades so you can watch the lock working. A three-month rental is available if you want to use it on your own account before buying.

Daily Loss Lock is a risk management tool, not a trading strategy. It does not guarantee profits and cannot prevent losses caused by gaps, slippage or a closed market. It helps you keep the promise you made to yourself before the session started.