Short answer
Trade Manager Prop Risk is an on-chart MT5 utility that tracks live account equity and daily drawdown against limits you enter, then trips a kill shell when one is hit: it closes in-scope positions and deletes or flattens new in-scope entries until the day resets or you release it manually. Three thin helpers cover the newest position: set SL/TP, break-even, partial close. It does not generate signals, open trades or promise that you will pass anything. Buy and activate it on MQL5 Market ($79, 10 activations).
What this prop firm trade manager for MT5 is, and is not
Most prop firm trade managers for MT5 try to do everything. Trade Manager Prop Risk (v1.01) is narrower: a risk shell for traders who already choose their own entries, by hand or through an EA, and want the firm’s daily loss number watched by something that cannot rationalize a bad hour.
What it is
- Live account equity, today’s PnL, daily drawdown and distance to the kill level, on the chart.
- Four limits you enter by name, plus a reset hour for the trading day.
- A kill shell with two switches,
CloseOnKillandBlockEntriesWhenKilled, and scope controlsMagicFilterandSymbolScope. - Helpers for the newest in-scope position: set SL/TP, break-even with an offset, partial close by percent.
What it is not
- Not a signal service or auto-entry robot: no Session ORB, grid, DCA or martingale.
- Not a lot-size calculator or order-entry panel in v1.01. You place trades, or your EA does.
- Not a backtest check; that is a different lane under Verify.
- Not affiliated with any prop firm, and it carries no database of firm rules.
How the named limits work
Every limit is an input you type. Zero turns a limit off, and the Expert will not start until at least one is on. If several are on, the highest equity level trips first.
| Input | Kills when equity falls to | Plain meaning |
|---|---|---|
DailyDDPercent | Day-start equity × (1 − pct/100) | Drop from the day’s opening equity, in percent. Default 4.0. |
DailyLossMoney | Day-start equity − amount | The same base, in account currency. |
EquityDDPercent | Peak equity since day open × (1 − pct/100) | Drop from the day’s high, not from an all-time high-water mark. |
EquityFloor | The absolute level you enter | A hard equity number, independent of the day. |
ResetHourServer | Not a kill limit | Broker server hour, 0 to 23, where the trading day starts. |
Day baseline and server time
All day boundaries use broker server time. Day-start equity is the first equity reading after the boundary. If you attach mid-day with no stored state, the baseline is your equity at attach time and the panel marks it “(attach)”. Restarts on the same day restore the stored baseline, peak and kill latch.
Firms define their day differently: another time zone, a balance-based start, floating profit in or out. Read your firm’s rules, set ResetHourServer to match as closely as the server clock allows, and keep a buffer.
Measured on the account, not the scope
Limits are measured on account equity even when scope is narrowed to one magic number or symbol, because prop rules are account-level. Scope only decides what the kill shell touches.
What the panel shows: OK, armed, warn, killed
The status line reads ARMED while the shell is watching and KILLED with the reason once a limit trips. The daily drawdown line carries a tag: ok, WARN at 75% of the effective limit, then CRIT at 100% or once killed, with a bar that fills as drawdown approaches the limit.
The full view adds the kill level, realized and floating PnL, day-start equity, scope and next reset; compact view hides those rows. Captures of each state are on the install FAQ page.
When a limit trips: the kill shell
On a trip the shell latches “killed” and saves that state, so a restart on the same day does not clear it. Then it acts on everything in scope:
CloseOnKillcloses in-scope positions. A failed close is retried on each timer sweep.BlockEntriesWhenKilleddeletes in-scope pending orders and closes any new in-scope entry that appears while killed.
The Experts tab logs the trip as KILL_FIRE with the reason, and each flattened entry as ENTRY_BLOCKED. The latch clears at the next day reset or when you press the manual release button. Releasing does not suspend the limits: if equity is still past a limit, the kill fires again. Trading on after a real breach means raising the limit first, which should be a deliberate decision.
Scope: magic number and symbol
MagicFilter of 0 means every magic number, including manual trades. A value above 0 limits the shell to one EA’s trades. SymbolScope is the chart symbol only, or every symbol on the account. Anything outside scope is left alone and logged as SCOPE_SKIP. Pick scope deliberately.
After the entry: SL/TP, break-even and partial close
Three buttons act on one position: the newest in-scope position on the chart symbol. They are helpers, not a strategy.
- Set SL/TP applies the distances from
DefaultSLPointsandDefaultTPPoints, measured from the open price. A zero leaves that side unchanged. - Break-even moves the stop to the open price plus
BreakEvenOffsetPointsplus the current spread, toward profit. It is skipped if the stop is already there or the broker’s stops level makes the price invalid. - Partial close closes
PartialClosePercentof the volume (1 to 99), rounded down to the lot step. It refuses if either side would fall below the minimum lot.
You size each trade yourself. The helpers stay available while killed, since they reduce risk.
Honest limits of the tool
It reacts; it does not veto
An Expert cannot stop a manual ticket or another EA’s order before it is sent. The native MT5 order window stays fully usable. While killed, the shell reacts: it closes or deletes a new in-scope entry as soon as the terminal reports it, with a timer sweep as backstop. A position can therefore exist for a moment before it is flattened. Orders outside scope are not touched.
It also needs the terminal running, connected, and with Algo Trading enabled. If the terminal is closed or offline, nothing is enforced.
Gaps, slippage and safety buffers
Equity is checked on every tick and every second, but the close is a market order. A weekend gap, a news spike or slippage can carry equity past a firm’s limit before the close fills. Set the tool’s limits tighter than the firm’s. The default DailyDDPercent of 4.0 is only a default.
No pass claim and no firm rule database
You maintain the numbers. Firm rules change, and this tool enforces only what you enter. It is not affiliated with or endorsed by any prop firm, and it cannot promise a pass, a funded account or compliance with rules it cannot see. See the terms and the disclosure page.
Install and set up on MT5
- Buy it on MQL5 Market; the terminal installs the EX5.
- Attach it to one chart.
- Turn on Algo Trading, in the toolbar and in the Expert’s settings.
- Enter at least one kill limit, the reset hour and scope.
- Test on a demo account before any challenge or funded account.
Before live use, also set both kill switches, the helper distances, PartialClosePercent and MaxSlippagePoints, the deviation allowed on closes and modifies.
Demo checklist
- Compare the panel’s day-start equity with your own calculation.
- Set a small
DailyLossMoneyon demo, trip it, and confirmKILL_FIREappears and the in-scope position closes. - Open a new in-scope trade while killed and see how quickly it is flattened.
- Open an out-of-scope trade and confirm it is left alone.
- Restart the terminal and confirm the killed state is restored.
- Press each helper once on a test position.
Buy and activate on MQL5 Market
Trade Manager Prop Risk is listed on MQL5 Market at $79 with 10 activations (listing as of 2 November 2026; the Market page is the source of truth for price and terms). Market handles purchase and activation. quantkit.co takes no payment for this Expert and sends no separate license email.
Buy on MQL5 Market Install FAQ
Read who writes this site and how QuantKit is paid first.
FAQ
What is Trade Manager Prop Risk, and what is it not?
An on-chart MT5 utility that tracks live equity and daily drawdown against limits you enter and runs a kill shell when one is hit. It is not a signal service, an entry robot or a lot-size calculator.
How do the daily loss and equity drawdown limits work?
You type them in. DailyDDPercent and DailyLossMoney measure the drop from day-start equity, EquityDDPercent the drop from the day’s peak, and EquityFloor is an absolute level. Zero is off; at least one must be on.
Does it generate signals or open trades by itself?
No. It never opens a position. It watches equity, closes or deletes in-scope trades after a trip, and offers three helpers on positions that already exist.
What happens when a limit is hit?
The kill latches and survives restarts. CloseOnKill closes in-scope positions; BlockEntriesWhenKilled deletes in-scope pendings and closes new in-scope entries after they appear. The latch clears at day reset or on manual release.
Can it block the native MT5 order ticket or other EAs?
Not before the order is sent. An Expert cannot veto a manual ticket or an EA’s order. While killed it flattens new in-scope entries after they appear, so a position can exist briefly. Out-of-scope orders are left alone.
How do I install and set it up?
Buy on MQL5 Market, attach it to one chart, switch on Algo Trading, enter a limit, set scope, and test on demo first. See the install section and the install FAQ.
Where do I buy and activate it?
On MQL5 Market only: $79 with 10 activations, activated by Market. quantkit.co takes no payment for it and sends no separate license email.
What about gaps, slippage and safety buffers?
Closes happen at market, so a gap or slippage can carry equity past a firm’s limit before the close fills. Set the tool’s limits tighter than the firm’s.
How is this different from an all-in-one trade manager?
It is narrower on purpose: drawdown meters, a kill shell and three thin helpers. No lot-size calculator, order-entry buttons, trailing stop, basket view or news filter in v1.01.
Is QuantKit affiliated with any prop firm?
No. It ships no firm rule database or presets. You enter numbers from your own firm’s current rules, and nothing here promises a pass or a funded account.
Related QuantKit reading
- Validate an EA backtest before a prop challenge
- Audit an MT5 backtest before buying an EA
- The free 12-check checklist and the Verify hub
- Methodology, corrections and privacy
- All products and articles