Introduction
Risk Manager Pro MT5 is a trading robot designed to manage risks and automate trading strategies. Boasting a perfect user rating of 5, it appears to be favored by its users, but let's dig deeper and analyze its true effectiveness and functionalities.Description of Features
Risk Manager Pro MT5 comes equipped with a variety of features intended to manage risk and optimize trading strategies:- Trailing Limit on Equity: Automatically adjusts to protect equity gains, which is particularly appreciated by day traders.
- Overtrading Prevention: Ensures that you don't open too many positions, keeping your strategy disciplined.
- Equity Stop: Sets a safety net to close trades when equity falls below a certain point.
- Drawdown Control: Monitors and limits daily, weekly, and monthly drawdowns to protect your capital.
- Customizable Settings: Allows traders to tailor the robot to match their specific trading style and risk tolerance.
Performance Analysis Over the Last Year
Analyzing the performance data from forexroboteasy.com, we see some promising yet skeptical results. The robot shows a steady growth rate in accounts, as reported by users like immanuelthelight, who praised its trailing limit feature. However, it's essential to scrutinize the stats:- Annual return rate: 15-20% (seems decent, but not extraordinary).
- Drawdown levels: Maintained below 10% (good for risk management but may limit aggressive growth).
- Number of trades: Moderate, indicating it's not an overtrader.
It's clear the robot is conservative, focusing on risk management rather than aggressive profit maximization.
Pros and Cons
Here's a quick rundown of the pros and cons:- Pros:
- Strong risk management features.
- User-friendly with customizable settings.
- Prevents overtrading, maintaining discipline.
- Cons:
- May be too conservative for high-risk traders.
- Limited information on long-term performance.
- Unknown proprietary code; difficult to tweak or verify.
Conclusion
Risk Manager Pro MT5 is a solid option for traders looking to prioritize risk management over high returns. User testimonials suggest it’s effective, but it may be too conservative for some. The lack of access to the original code leaves some room for skepticism.Source Code of Risk Manager Pro MT5
Unfortunately, the original source code for Risk Manager Pro MT5 is not available to the public. However, you can refer to the details available on MQL5 for a general understanding. Our team at EASY Trading Team has developed a sample code inspired by the robot's features.
Code:
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