Prop Account Drawdown Monitoring and Stop-Based Lot Sizing

Summary

This document describes a MetaTrader 4 chart utility aimed at traders managing funded accounts with daily loss limits. It tracks daily profit and loss from open positions and trades closed that day, including commissions and swaps, to help users monitor drawdown against a stated 5% daily limit. It presents the dashboard as a way to make account exposure and losses visible during trading.

The utility also calculates a suggested lot size from the user’s chosen balance risk percentage and stop-loss distance in pips, using the instrument’s tick value. The text explains the intended inputs and calculations but supplies no code, worked example, broker-specific validation, or test results. Accuracy therefore depends on the platform’s symbol data and on the trader entering an appropriate stop distance and risk percentage; the monitor does not itself guarantee compliance with a firm’s rules.

Key ideas

• The dashboard combines open-position PnL with trades closed during the current day.
• Daily PnL includes commissions and swaps in its stated calculation.
• Lot size is derived from the selected balance risk and stop-loss distance.
• The calculation uses the instrument’s tick value, so symbol data and inputs matter.

Tags

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