Automated Position Risk Controls for Existing MT5 Trades

Summary

This document describes a trade-management utility for open positions rather than a signal generator or strategy. It can add missing stop-loss and take-profit levels, move stops to break even as trades become profitable, and apply trailing stops to help manage gains. It also provides daily profit and loss limits and can monitor manual positions as well as trades opened by other expert advisors.

A dashboard is described for viewing and controlling these functions. The tool is presented as a way to add operational risk controls without changing the underlying trading approach. The document gives no evidence from testing, details of how limits are calculated or enforced, or explanation of how settings interact with market gaps, slippage, or broker execution. It therefore outlines useful trade-management features, but does not establish that they improve outcomes or specify configuration rules for a particular strategy.

Key ideas

• The utility manages existing MT5 positions and does not create trading signals or open trades.
• It can set missing stop-loss and take-profit levels and use break-even and trailing-stop controls.
• Daily profit and loss limits provide account-level controls, and manual and expert-advisor trades are supported.
• The description gives no performance evidence or detailed execution behavior for the controls.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.