Prop Max Daily Loss Manager

The Prop Max Daily Loss Manager is designed for traders who trade with Prop companies.

This utility will help you avoid exceeding the maximum daily loss set by the prop company. You can set your own daily loss level, upon reaching which trades will be closed and you will receive a corresponding message. This way, you will close your trades on time and not lose your account. It is recommended to set the risk at 10-20% lower than the company's set level, because there may always be slippages that could increase your loss.

For example, if the prop's daily loss is 5%, set it at 4.5%, and 0.5% will be a reserve in case of slippage. Or simply set your desired daily risk.

Settings:

• "Input your Challenge\Funded Account Balance:" enter the starting balance of your Challenge\Funded account;
• "Input Maximum Daily Loss % in Challenge\Funded Account:" enter the maximum daily loss percentage set by the company, usually 5%
• "Calculation loss type:" choose how your prop calculates risk:
  • "Started Balance" from the starting Balance;
  • "Today's Balance/Equity" from today's Balance/Equity at the start of the day.
• "Risk From:" choose which indicator to calculate the risk from. The indicator is taken at the time of the daily drawdown reset (Maximum Daily Loss resets) at the beginning of the day. Options:
  • "Balance" the risk will be calculated from the account balance at the time of the drawdown reset and not include equity;
  • "Equity" the risk will be calculated from the account equity at the time of the drawdown reset and not include the balance;
  • "Balance/Equity" the risk will be calculated from the highest Balance/Equity indicator at the time of the drawdown reset.
• "Select risk based type" choose which risk calculation type to use:
  • "Percent" risk calculation in percentage;
  • "Amount/Money" risk calculation in the account currency, in money.
• "Input your custom max daily risk" enter your custom daily risk;
• "Display the Alert? true = yes" Display a message if my set loss level is reached? true - yes, false - no;
• "Close all trades? true = yes" Close all trades across all symbols if my set loss level is reached? true - yes, false - no;