Risk Monitor by MT4expert
The Risk Monitor by MT4expert is a powerful tool that analyzes the overall risk of all open trades on your account. When moving your stop loss, your risk recalculated instantly. This way you always know what your risk is.
All you need to do is insert this tool as an indicator on your chart to analyze the risk of all trades on various charts.
The Risk Monitor by MT4expert looks both to Initial Risk as to Actual Risk for the individual currency pairs as well as for all open trades on several currency pairs.
|Initial Risk of the current pair:||This is the risk based on your balance and shows the risk from the entry price to the stop loss.|
|Actual Risk of the current pair:||This is the risk based on your equity and shows the risk from the current rate to the stoploss.|
|Total Initial Risk:||This is the risk based on your balance and shows the risk from the entry price to the stop loss.|
|Total Actual Risk:||This is the risk based on your equity and shows the risk from the current rate to the stoploss.|
|Total Profit/Loss:||This is the profit or loss of your open trades in percentages.|
The Risk Monitor also shows the number of open orders and open trades.
The size of your account is $ 10,000. You open a 1 lot long trade on the EUR/USD. The pip value for 1 lot is 10 USD. You place a stop loss at 20 pips. This creates a risk of 200 USD. Your Initial Risk is 2.00%.
Now, when the EUR/USD rises by 50 pips, your trade turns profitable. Your account equity has increased to $ 10,500 (10,000 + 10 x 50). The distance from the current price to your stop loss is now 70 pips. This results in a Actual Risk of 6.67%.
Once you open a second trade on another currency pair, this risk will be added to the Total Initial and Actual Risk. This way you always have a clear view of the overall risk of your account.