RISKGUARD MANAGEMENT: MANUAL

Download: RiskGuard DEMO

Download : journal

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Very important first configuration video: video (duration 3 minutes)

Expert settings panel divided into 3 parts:

“CONFIGURATION 1” which is used for fixed size trading and market entry settings. It is used with the Buy and Sell buttons on the panel. This mode allows the trader to enter multiple orders of the same type, therefore either all buy or all sell, by first setting a loss which is a % of his balance or a fixed economic value. For each order entered, the expert will update the stop level to guarantee your set loss, and will indicate with an orange line your next stop level that you will have by entering a further order. example, you have set a loss of $250, if you have 2 orders of 1 lot or 20 orders of one lot, your loss in the event of a stop will always be $250. It must be seen as a single operation even when using multiple orders.

 “CONFIGURATION 2” is used in the most common way using the CALC-PENDING-OPEN buttons and is used to enter the market or enter pending orders by automatically calculating the size and having the possibility of seeing both the lot that will be used before executing the trade that the return risk that your operation will have also counting the spread if set and will set your operation at the stop loss and take profit level taking into account the spread.

 “GRAPHICS SETTING” are all the graphics settings of your panel that will not influence your trading apart from the last 2 before the CSV settings which generally should not be touched and we will see later

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To switch from one configuration to another just click on the CONFIG button at the top left.

2 hidden buttons are the word RISKGUARD and the value in the P/L box, by clicking on the value of the P/L box you can switch from displaying it as a percentage to money to points or no value to display. While clicking on the word RISKGUARD will reduce the entire panel like the following photo

Clicking the INFO button at the bottom right will expand the panel with the parameters you have chosen on the settings.

This setting is to choose the trader level and accordingly sets the various limits. Below are the limits for each level:

Pay particular attention to the functions highlighted in red, and here are some examples of their usage:

Function: "Allow parameter changes with open trades"

Function: "Allow trades outside the Expert"

Function: "Allow Expert removal with open trades"

Function: "Allow account switching with open trades"

Function: "Allow Algo Trading disabling"

It is recommended to go to Tools > Options > Expert Advisors and check only the option "Allow algorithmic trading."

Fixed size value to use with the “Buy” and “Sell” buttons.

When opening a trade, the expert will set a stop loss level and a take profit level which cannot be changed. I recommend setting the take profit level wider as this type of trading is generally closed manually. with the “Close” button

Maximum number of orders allowed in the same operation (for "Beginner traders" the maximum is however 10).

This setting is a value expressed in seconds and will block the “Buy” and “Sell” buttons for the set time (useful to avoid issuing orders hastily)

Setting expressed in points which will prevent you from adding an order if that order would bring the distance between the current price and the stop loss to a value lower than the one set.

Choice of risk per trade, in this case the example shows a risk of 1% of your balance per trade. You have the possibility to choose a risk in % or in economic value

Let's now move on to "CONFIGURATION 2"

This is one of the most useful parameters for the less experienced as we are used to only displaying the Bid price on a chart. This parameter, which must be set for each instrument, allows you to automatically set the stop, take and entry price in case of pending, taking into consideration the spread that we declare. The return risk that the expert will indicate to us also takes into account the spread.

This parameter, if set to true, works exactly like the point described above except that it automatically sets the value of the spread by calculating the spread at the exact moment in which the operation is opened.

This parameter is useful for those who use accounts with commissions (raw), putting the commission value that your broker provides you at the time of calculating the lot will set the value in such a way that your loss is the total of the commissions.

Exactly like the parameters of configuration 1 to give the possibility of choosing a different risk between one configuration and another.

This parameter is actually used for both modes, both configuration 1 and configuration 2. When the "BE" button is pressed it will move the stop loss level, in this case 1 point above the entry price or the average price in the case of “CONFIG. 1”.

This parameter allows you to set the return risk which, once reached, will automatically move the stop to BE. It only works with Senior Trader level as this type of function is only active on the currently active account. If your trade is on a second account this function will be executed when you log into your account.

This parameter gives you the possibility of maintaining a pre-set risk-return ratio when calculating your operation. Obviously you are also free to change it from the operator panel.

These 3 levels are for partializing an operation, the value 50 means that I am closing 50% of my initial size. Example initial size of 10 lots at the first stage will close 5 lots, at the second stage another 2 lots at the third stage another 1 lot leaving 2 open lots.

These 3 parameters are to indicate the return risk of where to take the partial. if the value is left at 0 when you open the operation you can still add the partial from the panel, if instead you write the value when you open the operation it will also automatically set the partial level and this also when you open via smartphone.

 Here you can set the strategy and notes you prefer by default. Each time the trade is opened, after clicking on calc, the two fields will also appear on the panel and from there you can modify the values. once the trade is opened it will no longer be possible to change the strategy and note of that trade. You will also find these notes and strategies automatically in the journal to be able to carry out an analysis with all the possible combinations.

This parameter is used to indicate a time that refers to the server time and is used to close all open trades in the respective instrument. both trade markets and pending ones, if for example we enter 9pm and at 9pm server time close all trades. leaving the parameter at 0 the function is deactivated.

This parameter is used to indicate a time that refers to the server time and is used to close all pending trades in the respective instrument. for example, if we enter 9.00 pm he will close all pending trades at 9.00 pm server time. leaving the parameter at 0 the function is deactivated. If activated (true), this parameter allows Advanced level traders to use the smartphone or tablet with the original metatrader application to open pending or market orders with the lot calculation performed by riskguard. simply open an order at a 0.01 lot and enter the stop and the order will automatically be eliminated and reopened at the lot calculated based on the risk declared on riskguard. you will be able to take advantage of the auto spread function and all the riskguard functions as if you were opening the order exactly from your PC. obviously to take advantage of this function you either use a VPS or in any case riskguard must be active on a PC.

This function serves as a daily safety stop, the expert will take the value of the balance from 00:00 (server time) for example balance 100,000 dollars upon reaching 90,000 dollars of equity he will close all orders of all instruments with active expert that are been inserted with expert or not. This feature also works only on the account currently in use.

This function is exactly like the function described above with the difference that the percentage will be taken from your maximum daily balance. Example for the first trade of the day the stop level will be the same as above 90,000, but if our maximum daily balance has reached 110,000 10% will be on 110,000 so the stop will be at 99,000.

MONEY MANAGEMENT QUANTUM

The QUANTUM function is a proprietary algorithm that helps the trader by deciding the percentage of risk for each trade based on the statistics of his account, maximizing profits and decreasing losses.

To better understand its potential, I leave you a link to a video where on the video you will also find the necessary material to carry out your simulations and explore the advantages in full autonomy. in fact, a free expert has been created for the simulations and an excel sheet to process them.

link to video https://youtu.be/afsNGmmqAp8

the first parameter is to activate or deactivate the function, the second parameter must be declared the Drawdown value that you are willing to accept and quantum will calculate your risk so as not to exceed it, the third parameter is to give a maximum risk ceiling on the single trade for avoid being banned by props even if your stat would allow for a greater risk, while the minimum risk it doesn't let you go below is 0.05%.

the fourth and final parameter is very important for the function that considers breakeven trades and therefore does not incorporate them into the statistics. if, as in the example, writing 0.03 means that all trades that have made a profit ranging from -0.03% to 0.03% are considered BE.

Let's now move on to the "GRAPHICS SETTINGS" 

This parameter allows you to choose the position of the panel whether on the right or left by default.

This parameter allows you to increase or decrease the size of the panel on the graph.

This parameter allows you to increase or decrease the size of the text in the panel on the graph.

This parameter is used to adjust the distance of the stop and take lines from the current price each time the “Calc” button is pressed

This parameter is used to adjust the thickness of the graph lines except the dotted lines indicating the spread which will always have a fixed size.

This parameter is used to choose whether to display the labels placed in the graph lines. True are visible and false are hidden.

On these parameters you can customize the color of the bands of your operation. on Macs to change the color you need to double-click on it and press F4

Here you have the possibility to choose what to display in the 6 fields that appear in the info table

This parameter is used to change the display on the panel of those parameters that display the points, by decreasing the multiplier you can switch to pips for convenience.

This parameter is used to set the maximum slippage accepted to execute or not an order (if we issue a pending purchase order at the price of 1.0000 on eurusd in case of high volatility it means that we will accept to buy within a tolerance of 3 points, in addition will not issue the order)

Here you choose the start and end dates of the trades and balances to export to csv.

Now let's see how to use the panel on the graph

A small premise: the panel is dynamic both in the value fields and in the buttons which are colored based on whether they can be used or not. this update occurs every minimum change in the "Bid" price so if you are in a moment of low price volatility and for a few seconds the price does not move you will also see the panel stopped and if you press a button it may seem slow in execution but in reality It doesn't depend on the expert but on the price. Everything was built to be as fast as possible using an update at each point which is the minimum change in price.

Let's see how to issue orders in "CONFIGURATION 1"

To issue orders in CONFIGURATION 1 and therefore with a fixed lot, once the parameters have been set, simply press either buy or sell and you start entering the orders, automatically if you press the buy button the sell button will be deactivated and the stop loss and take profit level will be set which cannot be moved, with each order added the levels will adapt to maintain the loss and gain in RR set among the parameters. You will notice that the stop and take prices in the orders will not be the same in all orders, this is done specifically as some prop firms place limits on the number of changes and orders executed daily. To get around this limit I have inserted an "Update" button which allows the trader when to update all the orders by putting the stop and take level equal for each one, in any case if the price touches the red stop line or the green line of take the expert if active on the current account will close all orders but will still be slightly slower than having a stop already updated on the broker's server.