Recently I’ve started to learn how to trade in mt4 for a challenge. But I dont see how anyone can manage their risk properly!
I now understand when beginners ask me ‘what lot size shall I trade?’ Because in mt4 you cant see how much money you’re risking before you take the trade. For pending orders it’s okay you have time but if you’re market executing then you cant see your risk. By the time you’ve worked out and entered your stop loss, lot size, take profit, price has already moved and sometimes a lot. So how do you make sure you only risk a certain amount eg 1%?! No wonder beginners blow their accounts.
I couldnt find it online. Is there anyone consistently profitable using MT4 who uses market orders? How are you managing your risk? In particular how are you always risking a particular % eg 1% a trade.