How to set Hard Stop on MT5 platform for account linked to signal

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Hello,

I have subscribed to a signal on MQL5 and I need to know if there is a way to set an hard stop on my MT5 platform.

For example --> close all trades when drawdown reaches X % of the balance

Is there a way to do so?

Thank you and kind regards,

 

There is a stop if equity i less than ... option in the Signals settings.



 
Eleni Anna Branou #:

There is a stop if equity i less than ... option in the Signals settings.



I also found that option but I am not completely sure about the meaning.

Does it mean that it only use a certain percentage of the capital for trading or that it will close trades if drawdown goes above the indicated percentage?

Thanks,

 
Marco Carrisi #:

I also found that option but I am not completely sure about the meaning.

Does it mean that it only use a certain percentage of the capital for trading or that it will close trades if drawdown goes above the indicated percentage?

Thanks,

Don't confuse this setting with the above one.

It will disable your signal subscription if your account's equity goes below the set level.

The percentage in the above setting is the percentage of your account that will be used for the signal copying.

 
Eleni Anna Branou #:

Don't confuse this setting with the above one.

It will disable your signal subscription if your account's equity goes below the set level.

The percentage in the above setting is the percentage of your account that will be used for the signal copying.

ok thanks Eleni

so when you say " It will disable your signal subscription" means that the copy gets stopped or that pending trades are immediately closed?

I want to find a way to create an hard stop on trades when reaching a certain level of the capital..

 
Marco Carrisi #:

ok thanks Eleni

so when you say " It will disable your signal subscription" means that the copy gets stopped or that pending trades are immediately closed?

I want to find a way to create an hard stop on trades when reaching a certain level of the capital..

Pending orders are not being copied in the first place, they are copied as market trades when they are triggered in the signal provider's side.

 
Eleni Anna Branou #:

Pending orders are not being copied in the first place, they are copied as market trades when they are triggered in the signal provider's side.

so it is clear to me that It will disable my signal subscription and new orders won't be copied in the first place. But what about trades open prior the equity reaches the indicated level?

 
Marco Carrisi #:

so it is clear to me that It will disable my signal subscription and new orders won't be copied in the first place. But what about trades open prior the equity reaches the indicated level?

You will have to manage any remaining open trades yourself manually.

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