mql5/Experts/Advisors/ERMT_PMEx

ERMT PME v1.2 - Pure Management Edition

Enhanced Risk Management Tool - Position Management Expert

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Table of Contents

1. Introduction
2. Quick Start Guide
3. Core Features
4. Phase Management System
5. Configuration Guide
6. Risk Management
7. Troubleshooting & FAQ
8. Advanced Topics

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Chapter 1: Introduction

What is ERMT PME?

ERMT PME (Enhanced Risk Management Tool - Pure Management Edition) is a professional-grade position management EA for MetaTrader 5. Unlike traditional EAs that open trades, ERMT PME focuses exclusively on managing existing positions to maximize profits and protect capital.

Key Philosophy

"PME doesn't trade - it protects and maximizes"

The EA implements institutional-grade profit protection strategies that adapt to market conditions and position performance. It's designed to work alongside any trading strategy or EA, acting as an intelligent exit manager.

What Makes PME Different?

• Pure Management: Never opens new positions, only manages existing ones
• Universal Compatibility: Works with any EA or manual trading strategy
• Adaptive Protection: Phase-based system that evolves as profit grows
• Non-Intrusive: Doesn't interfere with positions below profit thresholds
• Institutional Logic: Built on proven professional trading principles

Who Should Use PME?

• Manual Traders: Add professional exit management to your setups
• EA Users: Enhance any trading robot with superior profit protection
• Portfolio Managers: Manage multiple positions with consistent rules
• Risk Managers: Implement strict risk controls across all trading

What PME Does

✅ Protects Profits: Locks in gains as positions develop ✅ Manages Risk: Enforces strict loss limits and drawdown controls ✅ Maximizes Returns: Adaptive trailing for trend-following positions ✅ Partial Closures: Banks profits while keeping runners active ✅ Emergency Protection: Automatically adds stops to unprotected positions

What PME Doesn't Do

❌ Does not open new positions ❌ Does not predict market direction ❌ Does not guarantee profits ❌ Does not trade autonomously

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System Requirements

Platform

• MetaTrader 5 (Build 3000 or higher)
• Account Type: Any (ECN, Standard, Pro)
• Instruments: All symbols supported

Recommended Setup

• VPS: Recommended for 24/7 operation
• Latency: < 50ms to broker for optimal execution
• Balance: Minimum $500 (or equivalent) for proper risk management

Files Structure

MQL5/Experts/Advisors/ERMT_PMEx/
├── ERMT_PME_1.2.mq5              # Main EA file
├── README.md                      # This file
├── Modules_PME/
│   ├── DataTypes_PME.mqh         # Core data structures
│   ├── Utilities_PME.mqh         # Utility functions
│   ├── RiskManager_PME.mqh       # Risk management
│   ├── TechnicalAnalysis_PME_Merged.mqh  # Market analysis
│   ├── PositionManager_PME_Complete.mqh  # Position handling
│   └── ProfitMaximizer_PME.mqh   # Phase management
└── Guides/
    └── [Documentation files]

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Version History

v1.2 (Current)

• ✨ Fixed critical phase lock calculation bug
• ✨ Added PHASE_INITIAL protection (positions < 40pts untouched)
• ✨ Improved breathing room calculation for better profit protection
• ✨ Fixed file writing errors with filename sanitization
• ✨ Enhanced debug logging for phase calculations
• 🐛 Fixed entry price unit mismatch
• 🐛 Fixed premature position closures

v1.1

• Phase-based profit management system
• Progressive profit locking
• Multi-level partial closures
• Session-based adjustments

v1.0

• Initial release
• Basic breakeven and trailing stop
• Emergency stop management
• Risk limit enforcement

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License & Disclaimer

Copyright

© 2024 ERMT Trading Systems. All rights reserved.

Disclaimer

Trading foreign exchange and contracts for difference on margin carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. This EA is provided as-is without any guarantees. Always test on a demo account before live trading.

Usage Terms

• ✅ Personal use: Unlimited
• ✅ Demo/Practice accounts: Unlimited
• ❌ Redistribution: Not permitted
• ❌ Commercial resale: Not permitted
• ⚠️ Modification: At your own risk

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Chapter 2: Quick Start Guide

Installation (5 Minutes)

Step 1: Copy Files

1. Locate your MetaTrader 5 data folder:
   • Open MT5 → File → Open Data Folder
   • Navigate to MQL5/Experts/Advisors/
2. Copy the entire ERMT_PMEx folder here

Step 2: Compile

1. Open MetaEditor (F4 in MT5)
2. Find ERMT_PMEx/ERMT_PME_1.2.mq5 in Navigator
3. Double-click to open
4. Press F7 to compile
5. Check for "0 errors" in the Toolbox

Step 3: Attach to Chart

1. Open any chart in MT5 (symbol doesn't matter - PME manages all positions)
2. Drag ERMT_PME_1.2 from Navigator onto the chart
3. Enable "Allow Algo Trading" when prompted
4. Click OK

Congratulations! PME is now active and monitoring your positions.

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First-Time Setup (Recommended Settings)

When you first attach PME, use these conservative settings:

Essential Settings

=== Management Control ===
Manage all positions: true
Magic Filter: 0 (manages all trades)

=== Risk Protection ===
Max Loss Per Trade: 5.0%
Max Daily Loss: 20.0%
Max Drawdown: 25.0%

=== Phase Management ===
Enable Phase Management: true
Phase 1 Trigger: 40 points
Phase 2 Trigger: 60 points
Phase 3 Trigger: 100 points
Phase 4 Trigger: 200 points
Phase 5 Trigger: 400 points

Leave everything else at defaults for now.

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Your First Managed Trade

Scenario: Manual Long Trade

1. Open a position manually: Buy 0.1 lot EURUSD
2. PME detects it: Check Experts tab for confirmation
3. Watch the magic happen:
   • Position < 40 pts profit: PME monitors but doesn't interfere
   • Position reaches 40 pts: PME enters PHASE_PROTECTION
   • Position reaches 60 pts: Advances to PHASE_ACCUMULATION
   • And so on...

What You'll See in Logs

[INFO] PME [#123456] Position registered - 0.10 lots @ 1.08500
[INFO] Position #123456 in PHASE_INITIAL (35.0 pts) - no phase lock applied
[INFO] Position #123456 transitioning from Initial to Protection (Peak: 42.0, Current: 41.0)
[INFO] Applied phase lock for #123456: Phase Protection lock: 10.0 pts (was 0.0 pts)

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Understanding the Dashboard

When Show Dashboard is enabled, you'll see a status panel:

═══════════════════════
ERMT PME v1.2
─────────────────────
STATUS
Active: 3
Closed: 12
─────────────────────
RISK
Exposure: 250.75
Drawdown: 3.2%
─────────────────────
MANAGEMENT
Breakevens: 8
Trails: 15
Partials: 6
─────────────────────
PERFORMANCE
Saved: $487.50
Captured: $1,245.00
Efficiency: 78.5%
═══════════════════════

Dashboard Elements Explained

• Active: Positions currently being managed
• Closed: Positions PME has closed this session
• Exposure: Total risk in open positions
• Drawdown: Current account drawdown from peak
• Breakevens: Times breakeven was applied
• Trails: Active trailing stops
• Partials: Partial closures executed
• Saved: Loss prevented by early exits
• Captured: Extra profit from trailing
• Efficiency: Overall management effectiveness (%)

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Common First-Time Questions

Q: Why isn't PME doing anything? A: Check that:

• Position profit is at least 40 points (Phase 1 trigger)
• "Allow Algo Trading" is enabled (button in toolbar)
• Position matches your Magic Filter (if set)

Q: Can I use PME with my existing EA? A: Yes! PME is designed to work alongside any EA. Just ensure your EA doesn't constantly modify stops, as this may conflict.

Q: Will PME close my positions immediately? A: No. PME only intervenes when profit thresholds are reached. It won't touch positions in PHASE_INITIAL (< 40 points).

Q: What if I want to manually close a position? A: Go ahead! PME won't interfere with manual closures. It simply removes the position from its tracking.

Q: Can I change settings while PME is running? A: Yes, but you'll need to remove and re-attach the EA to the chart for changes to take effect.

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Next Steps

Now that PME is running, explore:

• Core Features - Learn what PME can do
• Phase Management System - Understand the adaptive logic
• Configuration Guide - Fine-tune for your strategy

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Chapter 3: Core Features

Feature Overview

PME implements six major management systems that work together to protect and maximize your positions:

1. Phase Management - Adaptive profit protection that evolves with your position
2. Profit Locking - Progressive locks that secure gains as profit grows
3. Partial Closures - Bank profits while keeping runners for big moves
4. Trailing Stops - Dynamic trailing based on ATR and momentum
5. Risk Management - Strict enforcement of loss and drawdown limits
6. Emergency Protection - Automatic stop-loss for unprotected positions

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1. Phase Management System

The Six Profit Phases

Your position evolves through six distinct phases as profit grows:

Phase	Profit Range	Management Strategy	Lock Level
INITIAL	0-39 pts	Hands-off monitoring	None
PROTECTION	40-59 pts	Apply first lock	10 pts min
ACCUMULATION	60-99 pts	Start trailing	25 pts min
MAXIMIZATION	100-199 pts	Active management	50 pts min
RUNNER	200-399 pts	Wide trailing	100 pts min
EXTREME	400+ pts	Maximum protection	200 pts min

Phase Transition Logic

Position opens at 1.0850 (Long)
├─ Price 1.0880 (+30 pts) → INITIAL: PME monitors, no action
├─ Price 1.0892 (+42 pts) → PROTECTION: Lock 10pts (SL @ 1.0860)
├─ Price 1.0915 (+65 pts) → ACCUMULATION: Lock 25pts (SL @ 1.0875)
├─ Price 1.0955 (+105 pts) → MAXIMIZATION: Lock 50pts (SL @ 1.0900)
├─ Price 1.1055 (+205 pts) → RUNNER: Lock 100pts (SL @ 1.0950)
└─ Price 1.1255 (+405 pts) → EXTREME: Lock 200pts (SL @ 1.1050)

Key Feature: If profit retraces to a lower phase, PME maintains the highest lock achieved (retreat protection).

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2. Profit Locking

How Locks Work

Profit locks are minimum guaranteed profit levels. Once a lock is set, your SL will never be moved below that level.

Lock Calculation Formula

Base Lock = Minimum for current phase (10, 25, 50, 100, or 200 pts)
Progressive Lock = (Peak Profit - Base) × Lock Percentage
Total Lock = Base Lock + Progressive Lock
Breathing Room = Allow 50% retracement from peak
Effective Lock = MAX(Total Lock, Peak × 50%)

Example

Position reaches +80 points (ACCUMULATION phase)
├─ Base Lock: 25 points (phase minimum)
├─ Peak Profit: 80 points
├─ Progressive Lock: (80 - 25) × 40% = 22 points
├─ Total Lock: 25 + 22 = 47 points
├─ Breathing Room: 80 × 50% = 40 points
└─ Effective Lock: MAX(47, 40) = 47 points
   → SL set at Entry + 47 points

Progressive Lock Percentages

• PROTECTION: Lock 30% of excess profit
• ACCUMULATION: Lock 40% of excess profit
• MAXIMIZATION: Lock 50% of excess profit
• RUNNER: Lock 60% of excess profit
• EXTREME: Lock 70% of excess profit

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3. Partial Closures

Multi-Level Banking Strategy

PME can close portions of your position at profit milestones, banking gains while keeping runners active.

Default Partial Close Levels

Level	Trigger	Close %	Example (1.0 lot)
1	50 pts	20%	Close 0.2, Keep 0.8
2	100 pts	20%	Close 0.2, Keep 0.6
3	200 pts	25%	Close 0.25, Keep 0.35
4	400 pts	20%	Close 0.2, Keep 0.15

Total: 85% taken as profit, 15% kept as final runner

Dynamic Adjustment

Partial percentages adapt to market conditions:

• Strong Momentum: Close less (keep more for the trend)
• Weak Momentum: Close more (bank profits quickly)
• High Volatility: Close less (give room for volatility)

Example Scenario

Open: 1.0 lot EURUSD Long @ 1.0850
├─ +50 pts (1.0900): Close 0.2 lots → Bank $200, Keep 0.8 lots
├─ +100 pts (1.0950): Close 0.2 lots → Bank $400, Keep 0.6 lots
├─ +200 pts (1.1050): Close 0.25 lots → Bank $1000, Keep 0.35 lots
└─ +400 pts (1.1250): Close 0.2 lots → Bank $2400, Keep 0.15 lots
   Total Banked: $4000 | Runner Value: $600 (if closes at +400)

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4. Trailing Stop System

ATR-Based Trailing

PME uses Average True Range (ATR) to dynamically adjust trailing distance based on market volatility.

Trailing Distance by Phase

Phase	Base Distance	With High Volatility
PROTECTION	2.5 × ATR	3.0 × ATR
ACCUMULATION	2.0 × ATR	2.4 × ATR
MAXIMIZATION	1.5 × ATR	1.8 × ATR
RUNNER	3.0 × ATR	3.6 × ATR
EXTREME	4.0 × ATR	4.8 × ATR

Adaptive Features

• Momentum Detection: Wider trails in strong trends
• Volatility Adjustment: Automatically compensates for volatile markets
• Step System: Only moves SL when price advances by minimum step (15 pts default)

Example

EURUSD @ +120 pts profit (MAXIMIZATION phase)
ATR = 20 pips
Volatility = Normal

Trail Distance: 1.5 × 20 = 30 pips
Current Price: 1.0970
SL: 1.0970 - 0.0030 = 1.0940

Price moves to 1.0990 (+20 pips)
→ SL advances to 1.0960 (maintaining 30 pip distance)

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5. Risk Management

Three-Level Protection

1. Per-Trade Risk (Default: 5%)

• Maximum loss allowed on any single position
• Enforced by emergency stop-loss if position lacks SL
• Example: $10,000 account → Max $500 loss per trade

2. Daily Loss Limit (Default: 20%)

• Maximum cumulative loss allowed in one day
• Closes all positions if breached
• Resets at midnight broker time

3. Maximum Drawdown (Default: 25%)

• Maximum peak-to-valley decline allowed
• Closes all positions and halts trading if breached
• Requires manual reset

Emergency Stop System

If PME detects a position without a stop-loss:

1. Calculate appropriate SL based on ATR (7× multiplier by default)
2. Apply emergency SL immediately
3. Log warning in Experts tab
4. Sound alert (if enabled)

Risk Limit Actions

Scenario: Daily Loss Limit Reached

[WARNING] Daily loss limit reached: 20.5%
[ACTION] Closing all positions (EXIT_RISK)
[INFO] Position #123456 closed @ 1.0875 (-$150)
[INFO] Position #789012 closed @ 1.2450 (-$200)
[ALERT] Daily loss limit triggered!

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6. Session-Based Management

Trading Session Adjustments

PME recognizes three major trading sessions and adjusts management:

Session	Time (UTC)	Trail Multiplier	Partial Multiplier
Asian	00:00-08:00	1.2× (wider)	1.5× (less frequent)
London	08:00-16:00	1.0× (standard)	1.0× (standard)
New York	13:00-21:00	0.9× (tighter)	0.8× (more frequent)

Rationale

• Asian: Lower volatility → wider stops to avoid whipsaws
• London: Standard volatility → normal management
• New York: High volatility + trends → tighter stops, faster banking

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Feature Interaction

All features work together harmoniously:

Position Flow Example:

Open Long @ 1.0850
  ↓
+30 pts → INITIAL: PME monitors silently
  ↓
+45 pts → PROTECTION: Lock 10pts, Start light trailing
  ↓
+70 pts → ACCUMULATION: Lock 25pts, Tighten trail
  ↓
+80 pts → RUNNER CREATED: Close 20% @ +50pts trigger (banked $200)
  ↓
+110 pts → MAXIMIZATION: Lock 50pts, Active trailing, Second partial @ +100pts
  ↓
Retraces to +95 pts → Lock maintained at 50pts (retreat protection)
  ↓
Rallies to +220 pts → RUNNER: Lock 100pts, Wide trail for runner portion
  ↓
+410 pts → EXTREME: Lock 200pts, Ultra-wide protection, Final partial
  ↓
Reverses and hits SL @ +200pts → Exit with 200pt profit locked in

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Chapter 4: Phase Management System

For a comprehensive deep-dive into the Phase Management System, including detailed lock calculations, phase transitions, and retreat protection, see:

📖 Chapter 4: Phase Management System (Full Guide)

Quick Reference

Phase Progression:

INITIAL (0-39pts) → PROTECTION (40-59pts) → ACCUMULATION (60-99pts) →
MAXIMIZATION (100-199pts) → RUNNER (200-399pts) → EXTREME (400+pts)

Key Concepts:

• Forward Transition: Advancing to higher phase locks more profit
• Retreat Protection: Maintains highest lock achieved, never downgrades
• Progressive Locking: Lock percentage increases with phase
• Breathing Room: Allows retracement from peak before SL hits

Lock Minimums by Phase:

• INITIAL: None (0 pts)
• PROTECTION: 10 pts
• ACCUMULATION: 25 pts
• MAXIMIZATION: 50 pts
• RUNNER: 100 pts
• EXTREME: 200 pts

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Chapter 5: Configuration Guide

For complete parameter documentation with recommendations and examples, see:

📖 Chapter 5: Configuration Guide (Complete Reference)

Configuration Categories

1. Management Control: Magic filter, management modes
2. Phase Triggers: When each phase activates
3. Risk Protection: Loss limits and drawdown controls
4. Emergency Stops: Automatic protection for naked positions
5. Trailing Stops: ATR-based adaptive trailing
6. Partial Closures: Multi-level profit banking
7. Time/Session Filters: Time-based adjustments
8. Display & System: Dashboard, logging, alerts

Quick Setup Presets

Conservative Trader:

Max Loss/Trade: 2%
Phase 1 Trigger: 50 pts
Breathing Room: 60%
Trailing: Wide (High Multipliers)

Balanced Trader (Recommended):

Max Loss/Trade: 5%
Phase 1 Trigger: 40 pts
Breathing Room: 50%
Trailing: ATR Adaptive

Aggressive Trader:

Max Loss/Trade: 8%
Phase 1 Trigger: 30 pts
Breathing Room: 40%
Trailing: Tight (Low Multipliers)

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Chapter 6: Risk Management

Risk Protection Layers

Layer 1: Per-Trade Risk

• Default: 5% max loss per position
• Enforced via emergency stops
• Prevents catastrophic single-trade losses

Layer 2: Daily Loss Limit

• Default: 20% max daily loss
• Auto-closes all positions if breached
• Prevents emotional "revenge trading"

Layer 3: Maximum Drawdown

• Default: 25% max peak-to-valley decline
• Emergency shutdown + trading halt
• Final circuit breaker

Risk Metrics Dashboard

Monitor these daily:

• Current Exposure: Total capital at risk
• Drawdown: Current vs peak equity
• Active Positions: Number of open positions
• Correlation: Related positions risk

Risk Management Best Practices

1. Never risk more than 2% per trade (conservative)
2. Set daily loss limit at 3-5× per-trade risk
3. Maximum drawdown should not exceed 30%
4. Review risk settings monthly
5. Increase limits gradually, decrease immediately

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Chapter 7: Troubleshooting & FAQ

For complete troubleshooting guide and frequently asked questions, see:

📖 Chapter 7: Troubleshooting & FAQ (Full Guide)

Common Issues Quick Fix

PME Not Working?

1. Check "Allow Algo Trading" is enabled
2. Verify position profit ≥ 40 points
3. Confirm Magic Filter = 0 (or matches position)
4. Check Experts tab for errors

Premature Closures?

1. Increase Phase 1 Trigger (40 → 50 pts)
2. Increase Breathing Room (50% → 60%)
3. Switch to TRAIL_ATR method
4. Check for conflicting EAs

Partials Not Executing?

1. Verify InpPartialEnabled = true
2. Check minimum position size (0.05+ lots)
3. Test manual partial close (broker support)
4. Review trigger thresholds

Dashboard Missing?

1. Press F5 to refresh chart
2. Check dashboard coordinates (X/Y)
3. Remove and re-attach EA
4. Recompile in MetaEditor

FAQ Highlights

Q: Will PME conflict with my EA? A: Only if your EA constantly adjusts stops. Use Magic Filter to separate.

Q: Best Phase 1 Trigger setting? A: 40 pts standard, 30 pts scalping, 60 pts swing trading

Q: Should I disable breakeven? A: Yes. Phase Management provides superior protection.

Q: Can PME backtest? A: Limited support. Use forward testing or demo accounts.

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Chapter 8: Advanced Topics

Multi-Instance Setup

Running multiple PME instances for different strategies:

Chart 1: PME Instance #1
├─ InpMagicFilter: 1001
└─ Manages: Scalping EA positions

Chart 2: PME Instance #2
├─ InpMagicFilter: 2001
└─ Manages: Swing trading positions

Chart 3: PME Instance #3
├─ InpMagicFilter: 0
└─ Manages: Manual trades (no magic)

Performance Metrics

Management Efficiency Formula:

Efficiency = (Profit Captured + Loss Prevented) / Total Opportunity × 100

Where:
├─ Profit Captured: Extra profit from trailing vs. fixed TP
├─ Loss Prevented: Losses avoided by early exits
└─ Total Opportunity: Max possible profit (all peaks)

60-70%: Good
70-80%: Excellent
80%+: Outstanding

Integration Examples

With Galileo FX:

1. Install Galileo FX (trading EA)
2. Install PME on any chart
3. Galileo opens positions
4. PME detects and manages them
5. No settings conflicts - they work independently

With Manual Trading:

1. Attach PME to main chart
2. Set InpMagicFilter = 0
3. Open positions manually
4. PME takes over once profit ≥ Phase 1 Trigger
5. Monitor dashboard for phase progression

Custom Development

PME is modular. Key files for customization:

• DataTypes_PME.mqh: Add new data structures
• ProfitMaximizer_PME.mqh: Modify phase logic
• PositionManager_PME_Complete.mqh: Change management behavior
• ERMT_PME_1.2.mq5: Adjust main flow

⚠️ Warning: Modifications void support. Always backup original files.

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Final Notes

Success with PME

PME is a tool, not a magic solution. Success requires:

1. Solid Trading Strategy: PME enhances good strategies, doesn't fix bad ones
2. Patience: Let the phase system work, don't micro-manage
3. Discipline: Trust the math, respect risk limits
4. Monitoring: Review performance weekly, adjust quarterly
5. Education: Understand how PME works before going live

Support & Updates

• Documentation: Start here, read all chapters
• Updates: Check GitHub releases monthly
• Issues: Report bugs with detailed logs
• Community: Share experiences, learn from others

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Summary Checklist

Before going live with PME:

• Tested on demo for at least 2 weeks
• Read all documentation chapters
• Understand phase management system
• Configured risk limits appropriately
• Verified compatibility with trading EA
• Dashboard displaying correctly
• Logs showing expected behavior
• Emergency stops tested and working
• Partial closures executing (if enabled)
• Risk limits tested (on demo!)

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Acknowledgments

ERMT PME builds on years of professional trading experience and incorporates institutional-grade risk management principles. Thanks to all beta testers and early adopters who provided feedback.

Special recognition:

• Institutional traders who shared profit protection strategies
• MetaTrader community for MQL5 resources
• Early adopters who identified and reported bugs

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Contact & Support

Bug Reports: GitHub Issues Feature Requests: GitHub Discussions Documentation: This README + Chapter files

Version: 1.2 Last Updated: November 2024 Status: Production Ready

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🎯 Ready to start? Go to: Chapter 2: Quick Start Guide

📚 Deep dive? Explore:

• Chapter 4: Phase Management
• Chapter 5: Configuration
• Chapter 7: Troubleshooting