DuoFX Trading Psychology MT5
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Dragos Mihai Ofrim
DuoFX Labs: trading tools for MetaTrader 5 and MetaTrader 4
We build the tools we use ourselves: fast, clean and honest about what they do. Every product ships for both MT5 and MT4 from the same code, is tested on live charts before release, and gets updates when traders ask for something. - Sürüm: 1.0
You know the trade. The one right after a loss, bigger than it should be, taken to win it back.
User guide and articles: User guide, How to stop revenge trading in MT5, Overtrading and daily loss limits, Tilt and FOMO in trading, Trader burnout and exhaustion.
DuoFX Trading Psychology sees it the moment it happens, on your desktop or from your phone, and tells you in plain words: "New trade 4 min after a loss, lots up 2x". Revenge trading, overtrading, a losing streak, the daily loss limit, a trade with no stop loss, a trade outside the hours you planned: it watches every trade on your account and speaks up while there is still time to stop.
No pop-ups to click through and no lectures. Just an honest signal when your trading stops following your plan, for traders who know their rules and want help keeping them on a bad day.
Why it is free
We trade too, and we know how it feels at the end of a bad day: tired, frustrated, tempted to win it back. Mental health and exhaustion are part of trading that nobody talks about. This tool is our contribution, free now and free for good.
What it watches
- Revenge trading: a new trade within 15 minutes (your choice) after a losing trade closes.
- Size up after a loss: bigger lots than the losing trade before it, on the same symbol and magic number.
- Overtrading: more trades in a day than your trading plan allows (default 5), with your own day start hour.
- Losing streak: a number of losses in a row (default 3), with a warning one loss before.
- Daily loss limit: the day's loss, open trades included, against a percentage of the balance at the start of the day (default 3%), with a warning at 75%.
- Stop loss discipline: a trade that still has no stop loss after a short grace time (default 60 seconds), so a stop you add right after the fill is never flagged.
- Trading plan hours: a trade opened outside the sessions you planned (off by default).
The discipline meter
A small panel shows one word, Calm, Warning or Tilt, and the reason in plain words, for example "2nd trade 4 min after a loss, lots up 2x". Below it are today's counters (trades against your plan, losses in a row, day P/L against your daily loss limit, the last loss and the time left in the revenge window) and a short list of today's flagged events. It follows the chart's light or dark colours, folds its sections, minimises to a one-line bar, can be dragged anywhere and fits small charts. Every line has a tooltip that explains it.
Alerts that never block you
An on-chart notice appears at the top of the chart and closes by itself or on a click. Sound, push notifications to your phone and email are each optional, and are rate limited so several flags arrive as one message. There is no pop-up box to click away, and nothing stops the terminal. Telegram and Discord alerts with the free DuoFX Alert Relay.
An optional cooldown, chosen while you are calm
FOMO and tilt are hardest to see from the inside. If you want a firmer rule, switch the cooldown on in the inputs or on the panel before you trade. After a losing streak, the daily loss limit or a revenge trade it starts a break of the minutes you set, or until the next trading day. During it, choose one of two modes:
- Warn only (the default when on): every new trade is flagged.
- Close new trades: a trade opened during the cooldown is closed at once. Only trades within your chosen scope, and only trades opened after the cooldown began. Trades that were open when it started are never touched. Closing a trade costs its spread and any commission already paid, so this mode does not save money on that trade; it stops a tilted session from growing.
A countdown shows the time left, and an "End cooldown" button ends it early after a second click to confirm.
It sees phone trades too
MetaTrader cannot stop a trade being placed, and a trade from the phone app or the web terminal never passes through a desktop window. An Expert Advisor still sees every position on the account while the terminal runs, so attach it once in a terminal that stays on (a VPS works well) and it watches trades from every device.
Use cases
- Day traders and scalpers on gold (XAUUSD), indices and forex who want a daily loss limit and a trade count that speak up in time.
- Traders working on revenge trading, FOMO or emotional trading after a loss.
- Anyone building a trading routine: a written trading plan, fixed hours, a stop loss on every trade.
- Traders who notice burnout and exhaustion and want a clear signal to step away for the day.
FAQ
- Can it stop me from opening a trade? No tool can block a trade in MetaTrader. It tells you at once, and with the close mode of the cooldown it closes a new trade within a few seconds.
- Does it trade? It never opens or changes a trade. It closes a trade only in the cooldown's close mode, which is off by default.
- Which trades does it count? You choose: manual trades only (magic 0, which includes phone and web trades), all trades, or a list of magic numbers; all symbols or only the chart's symbol.
- What happens after a restart? Today's flags, what was already alerted and a running cooldown are kept, and the counters are rebuilt from the account history, so nothing is alerted twice.
- Several charts? One chart per account and scope sends the alerts and runs the cooldown; other charts show the same panel.
- Netting or hedging accounts? Both. Partial closes count as one trade on hedging accounts (and on MT4, where a partial close creates a new ticket).
- Does it need to stay open? Yes. No Expert Advisor can watch an account while the terminal is closed.
- Is this risk management or mental health advice? Neither. It is a trading discipline tool that reads your trades. It cannot judge how you feel, and it does not promise results.
- Strategy Tester? It runs and watches the tester's own trades. Panel clicks do not work in the tester, so use the inputs there.
- MT4 or MT5? Both, with the same features.
Settings
- What to watch: symbols (all or this chart), trades (manual, all, listed magic numbers), magic numbers, trading day start hour.
- Behaviour checks: revenge window, size up after a loss, max trades a day, losing streak, daily loss limit %, stop loss check and grace seconds, planned hours on or off and the hours.
- Cooldown after tilt: off, warn only or close new trades; length in minutes or until the next day; minutes; max slippage for the close mode.
- Alerts: warnings and tilt or tilt only, on-chart notice and its seconds, sound and sound file, push, email, Send to DuoFX Alert Relay (off by default), the seconds between combined alerts.
- Panel: corner, offsets, theme, font, font size, start minimised, number of flagged events shown.
Available for MetaTrader 5 and MetaTrader 4.
Disclaimer: Trading carries a high risk of loss. This utility is a trading discipline tool for educational and informational purposes only. It is not financial advice and not medical or psychological advice, it cannot prevent losses or block trades, and it does not guarantee results. If stress from trading feels serious, talk to someone you trust or a professional.
