Is There A Way To Reduce Risk Below A Certain Balance Level?

[ChrisL 0]

Hi everyone

I'm pretty new to fxDfreema and, although I haven't posted in the forum before, the searches I've done to find out how to do the things I need have been really helpful. However, I can't find an answer for my current problem.

I currently have my EA running as I want and it risks 1% per trade depending on the stop loss and account balance. What I'm trying to do now as part of my money management is to get it to reduce the amount of risk more if my account balance drops below a certain amount. For example:

If my starting balance for the month is, say, $100,000, it will risk 1% of that balance per trade. That works fine. If my account draws down, say, 5% below the starting balance (so the balance in this example would be $95,000), I want the EA to reduce the risk on each trade to 0.5% rather than the usual 1%. Then, once the account recovers and the balance moves above $95,000, the risk would be adjusted back up to 1% again.

I hope this makes sense. I haven't even started trying to put this into my EA as I have no idea to do it, so hopefully, there is a way and somebody is able to explain it to me.

Thanks.

[roar]

@chrisl-0 so, keep track of highest recorded balance (I would do it that way), and if current balance is enough below that record, change your risk percent.
Use these blocks in your project, should work
https://fxdreema.com/shared/P9AoUisOd

[ChrisL 0]

Thanks a lot for that, I appreciate it. I'll give it a go.

I'll have to do a little research to try and understand what it means though as I don't have a clue, haha.