Tools for Risk Management in MT5

a. Terminal Window:

• The Terminal window in MT5 provides real-time information about your open trades, including profit/loss, equity, and margin level. This helps you monitor your risk exposure effectively.

b. Account History:

• Use the "Account History" tab in the Terminal window to review your past trades and analyse performance. Identify patterns or areas for improvement in your risk management approach.

c. Trading Simulator:

• Utilize the Strategy Tester in MT5 to backrest your trading strategies and assess their risk management effectiveness before applying them in live markets.

d. Custom Indicators and Scripts:

• You can create or download custom indicators and scripts that help calculate position sizes, track risk exposure, and manage stop-loss/take-profit levels automatically.