EA Risk Management

Product Description

PropFirm Risk Manager EA is a dedicated risk-control Expert Advisor designed for prop firm traders (FTMO, MyFunded, E8, and similar).

This EA does NOT open trading strategies.
Its only job is to protect your account by monitoring equity in real time and enforcing risk rules automatically.

It helps you:

• Prevent daily and maximum drawdown violations

• Stop trading after reaching daily profit targets

• Control trading time windows

• Avoid accidental rule breaks due to emotions or overtrading

The EA works with any manual trading or any other EA.Main Features

• Daily Drawdown Protection (money or percentage)
• Maximum Drawdown Protection (Peak Equity based)
• Max DD can be disabled and safely reset
• Daily Profit Target (Soft Lock)
• Trading Time Control (Start / Stop trading hours)
• Hard Lock & Soft Lock system
• Automatic recovery after terminal restart
• Clear on-chart status panel

Important Notes

• This EA does not place trades (except for a small technical netting check).
• It only manages risk and permissions.
• Works on any symbol and any timeframe.
• Designed to be attached to one chart only.

USER GUIDE (Step by Step)

How to Install

1. Attach PropFirm Risk Manager EA to any chart

2. Allow:

   • AutoTrading

   • DLL imports (if required by broker)

3. Keep the terminal running

That’s it.

Input Settings Explained

🔹 DAILY RULES

DailyMaxDDPercent

• Maximum daily drawdown in percentage

• Example: 5.0 = 5% daily loss limit

• Set 0.0 to disable

DailyMaxDDMoney

• Maximum daily drawdown in money

• Example: 500 = $500 daily loss

• Set 0.0 to disable

=> If either limit is reached → HARD LOCK

🔹 MAX RULES (Peak Equity Based)

MaxDDPercent

• Maximum drawdown calculated from Peak Equity

• Set 0.0 to disable

MaxDDMoney

• Maximum drawdown in money from Peak Equity

• Set 0.0 to disable

Important behavior

• When Max DD is set to 0, the EA:

  • Automatically releases any Max DD hard lock

  • Resets Peak Equity to current equity

• This prevents false hard locks after withdrawals.

🔹 PROFIT LIMIT (Soft Lock)

DailyProfitPercent / DailyProfitMoney

• When reached → SOFT LOCK

• EA will stop allowing new trades

• Open positions are NOT closed

• Automatically resets on a new trading day

🔹 TIME CONTROL

TradingStartTime

• Time when trading is allowed (HH:MM)

• Example: 08:00

TradingStopTime

• Time when new trades are blocked

• Example: 16:00

📌 Outside this time:

• No new trades allowed

• Risk rules are still monitored

🔹 OPTIONS

CloseOnHardLock

• true → Close all open positions on hard lock

• false → Only block trading

DeletePendingOrders

• Automatically deletes all pending orders on hard lock

Lock Types Explained

🔴 HARD LOCK

Triggered by:

• Daily Drawdown

• Maximum Drawdown

Effects:

• Trading is fully blocked

• Optional: Close all positions

• Remains active until:

  • New trading day (daily rules)

  • Max DD is disabled by user

🟡 SOFT LOCK

Triggered by:

• Daily profit target reached

Effects:

• No new trades allowed

• Existing trades continue

• Automatically resets next day

🟡 TIME LOCK

Triggered by:

• Trading outside allowed time window

Effects:

• No new trades

• No forced closures

• Automatically unlocks at start time

On-Chart Information Panel

The EA displays:

• Current Equity & Balance

• Peak Equity

• Daily DD / Max DD status

• Profit today

• Lock status and reason

• Time control status

This helps you always know why trading is allowed or blocked.

Recommended Usage

• Use together with:

  • Manual trading

  • Grid / Martingale / Scalping EAs

• Strongly recommended for:

  • Prop firm challenges

  • Funded accounts

  • Emotional risk control

Disclaimer

Trading involves risk.
This EA helps manage risk but cannot prevent all losses.
Always test on a demo account before using on a live account.