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EmoGuardian allows three ways to set Loss and Profit limits.
  • Setting minimum and maximum equity values
  • Setting max los and gain per day (in the account currency)
  • Seeting max loss and gain per day in percentage
For each section imposing a “lower limit” on equity either through Minimum Equity or Max Loss is mandatory, whereas imposing an upper limit is optional. To impose an upper limit on Equity, select the relative checkbox Max Equity or Max Gain. To enable one section, you must select the corresponding checkbox. To avoid misunderstanding the three “sections” of this tab are incompatible, so once one section is selected the other two will be disabled.

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Clarifications:

In the third section, figures are expressed in percentages. The percentage is computed taking as a reference the Account equity at 00:00:00 or at the time specified in the Reset daily at HH:MM section. Example: Current time 8:30---- Reset time: 2:15--- max loss 3%--- Current balance 80345 USD Imagine you have an open position with a Loss of 150 USD. From 2:15 to 8:30 you took several trades with a total closed loss of 500 USD. At 2:15 you had no open position. This means that at 2:15 your balance was 80345 + 500 USD= 80845 USD. This balance will be taken as a reference. From 2:15 to now (8:30) you have a total loss (closed + open) of 500 + 150 USD = 650 USD which represents a 650/80845 = 0.804% loss. EmoGuardian will allow you to keep trading, since you are allowed to lose up to 3% **Remember** Whenever you see the word loss, in any of EmoGuarding fields, the sign of the number is not relevant. The EA will always interpret the number as a negative number. For example, in the field Maximum loss per day, you can insert either -200 USD or +200 USD and they will all be interpreted as a maximum allowed loss of 200 USD. **Remember** Losses and gains include both open and closed operations.(For more details on how Daily Loss is calculated, read this section).

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Reset daily at HH:MM checkbox:

The sections that permit to set a max loss/max gain consent to establish the time in which the day will start. In case this option is not selected the day will start at 00:00:00 platform time and end at 23:59:59 Platform time.
Please check the section Day start/end time, for more details.