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Prevent Overleveraging Automatically

One of the most common mistakes traders make is overleveraging — opening positions that are too large for their account size or risk parameters. This is especially dangerous for prop firm traders, where breaching risk limits can immediately lead to account violations. To help traders manage exposure more effectively, Emo Guardian includes a powerful Custom Symbol Limits feature that allows you to define maximum position sizes for individual trading instruments.

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What This Feature Does

The Custom Symbol Limits feature lets you:
  • Define maximum lot sizes per symbol
  • Automatically enforce position limits
  • Instantly close trades that exceed your rules
  • Prevent accidental oversized positions
  • Add an additional layer of prop firm risk protection
For example:
  • EURUSD → max 5 lots
  • GBPUSD → max 1.3 lots
  • NZDUSD → max 0.8 lots
If a trader attempts to open a position above the allowed size, Emo Guardian immediately closes the trade.

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Why This Matters

Many traders believe they are diversified because they open multiple trades across different pairs. In reality, those positions are often highly correlated and create excessive exposure to one currency or market direction. This feature helps protect traders from:
  • Excessive leverage
  • One-sided betting
  • Correlated exposure
  • Emotional overtrading
  • Violating prop firm risk rules
Because the protection is automated, traders cannot accidentally bypass their own limits during stressful market conditions.

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How It Works

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Step 1 — Open the Emo Guardian Data Folder

Navigate to: MQL5 → Files → Emo Guardian → [Your Account Number] → Custom Inside the folder, you will find a README file explaining the setup process.

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Step 2 — Create the Settings File

Create a new text file named: settings Important:
  • Do NOT name it settings.txt.txt
  • Windows already assigns the .txt extension automatically

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Step 3 — Define Your Limits

Inside the file, add each symbol and its maximum allowed volume. Example:
Formatting is flexible:
  • Extra spaces are allowed
  • Each line contains:
    • Symbol name
    • Maximum lot size

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Automatic Validation

When Emo Guardian loads:
  • It automatically detects the custom settings file
  • Checks whether all symbols are valid
  • Displays warnings if invalid symbols are detected
For example:
If the broker does not support that instrument, Emo Guardian will display an “Invalid Symbol” warning and refuse to load the custom settings until corrected. This prevents configuration mistakes that could otherwise leave risk protections inactive.

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Real-Time Enforcement

Once enabled:
  • Positions below the limit are accepted
  • Positions exceeding the limit are instantly flattened
Example: The enforcement happens almost instantly, minimizing the risk of large unintended exposure.

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Difference Between “Custom Symbol Limits” and “Maximum Volume Per Position”

Emo Guardian includes two different protection systems.

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1. Maximum Volume Per Position

This feature automatically resizes oversized positions. Example:
  • Trader opens 4 lots
  • Limit is 3 lots
  • Emo Guardian reduces the trade to 3 lots

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2. Custom Symbol Limits

This feature behaves differently:
  • If the position exceeds the allowed size,
  • The entire trade is immediately closed
This stricter enforcement is particularly useful for prop firm traders who require absolute protection against rule violations.

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Designed for Advanced Risk Management

The Custom Symbol Limits feature was originally developed for traders who needed stricter and more customizable risk controls. Future improvements may include:
  • Automatic resizing instead of flattening
  • More advanced symbol-based rules
  • Customized risk logic per trader
  • Additional portfolio exposure protections