The ARM Fix (Auto Risk Manager Fix) Expert Advisor is designed for managing the preset loss level using physical stop orders.
It estimates the size of the existing position of the instrument, calculates the required level to close it and sets physical stop orders at this level.
As soon as position size changes (increases, decreases, is locked), the EA recalculates the required levels and modifies or adds stop-levels with the new values.
The Expert Advisor works with the symbol on whose chart it runs. Losses in the settings are specified in the deposit currency. It can work with all orders or with the ones selected based on the Magic number.
The EA is able to work in conjunction with other trading robots (that place orders, however pre-test of compatibility is requirqed) and with the orders placed manually.
It is very convenient for manual scalping, if you want to keep the daily loss limit.
- Use Magic - use or not the magic number as a filter,
- Magic number,
- Risk in deposit currency - risk of losses as a percentage of deposit.