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EV Risk Free
Sizes your lot by risk percentage, watches your daily loss and warns you before you cross it. Free, for MetaTrader 5.
No payment, no card.
What it does
- Lot size from risk % and stop in points, correct on indices and metals too
- Daily loss limit anchored to the opening balance, with an alert when breached
- On-chart panel: balance, suggested lot, day P/L and headroom left on the limit
- Runs alongside any strategy or EA: it never opens or closes trades itself
How to install
- Create your free account — the licence is generated automatically.
- Download EVRiskFree.ex5 from your account area and copy it to MQL5/Experts.
- In MT5, Tools → Options → Expert Advisors, tick «Allow WebRequest» and add https://evtradelabs.com
- Drag the EA onto a chart and paste your licence key into the inputs.
What it does NOT do
It does not trade for you and promises no returns. It is not a strategy: it is the calculator you should run before every entry, and the alarm that stops you on a bad day.
If you need it to act as well
EV Risk Manager closes positions on breach, handles global drawdown and ships a prop firm mode.
See EV Risk Manager →