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Forums>StrategyQuant>General Discussion>Money Management in MT4 vs SQ settings

  • #235696 |
    Customer
    3 Posts

    Everyone and anyone,

    I’m just trying to clarify the settings when I upload an EA into MT4.

    If I want to use Fixed Amount Risk in Dollars;
    Do I need to have “UseMoneyManagement” set to true AND “RiskInPercent” set to Zero AND “UseFixedMoney” set to say $40 – As per Image below.

     

    MT4 EA Inputs

    I find this confusing as both Fixed Amount and  Risk Fixed % of account have the common settings that come under “UseMoneyManagement”.

    Clarification of settings for the three groups of settings 1)Fixed lots, 2)Fixed amount and 3)Fixed Risk % would be appreciated.

     

    Regards,

     

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    #235710
    tomas262
    Administrator
    1826 Posts

    Hello,

    UseFixedMoney is not dependent on UseMoneyManagement

    1. Fixed lots mean a single value always for example 0.1
    2. Fixed amount means you are limit bet size expressed in money (some people are not comfortable with % risk)
    3. Fixed % is the aggressive allows full potential of compounding
    #235717
    Customer
    3 Posts

    Thanks,

    Though perhaps my question has been misunderstood.

     

    i understand that part, what I’m trying to get at is on MT4 settings.

     

    For a bot to use fixed risk of say $40, could I see a screen shot of the MT4 EA inputs screen.

     

    for a bot to use fixed % of say 2%, could I see a screenshot of the MT4 EA inputs screen.

     

    and one also for a fixed lot size, say 0.5.

     

    im confused with how to set the settings.

    #235727
    Customer
    793 Posts

    you want to trade fixed lots – UseMoneyManagement – false, UseFixedMoney – false, Lots – XXX

    you want to trade fixed money – UseMoneyManagement – true, UseFixedMoney – true, RiskInMoney – XXX

    you want to trade fixed% – UseMoneyManagement – true, UseFixedMoney – false, RiskInPercent – XXX

    thats it :)

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    #235734
    Customer
    3 Posts

    Thanks Hankeys,

     

    Pretty self explanatory, I appreciate the clarification though…I like to sweat the small things =P

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