How do you multiply the risk on an MT4 signal?

[Neptune]

Lets say I was copying an MT4 signal called A75 but I notice that the lot sizes are extremely small and barely making any money. At this point I would want to double the lot sizes that come through but is it possible. I always hear about people copying signals with 3x risk and so on. How do you change the Risk level on MT4? Is it an MT4 feature that can be applied to official MT4 signals?

[BillHuppert]

Lets say I was copying an MT4 signal called A75 but I notice that the lot sizes are extremely small and barely making any money. At this point I would want to double the lot sizes that come through but is it possible. I always hear about people copying signals with 3x risk and so on. How do you change the Risk level on MT4? Is it an MT4 feature that can be applied to official MT4 signals?

Assuming you are using the SimpleTrader trade copier, the setting is under the Risk / Money Management tab, and it is labelled multiplier.
Bear in mind it is called RISK multiplier for a reason. If you increase the value, you will increase the gains, but also the drawdown.
For example, if you were following a trader that states a maximum (open) drawdown of 30% (and remember, it could go higher, nothing is guaranteed), and you set the multiplier to 4x, when you hit that 30%, your account will be down over 100%, and therefore be bust.
Look at is if you were driving a car at full throttle, you will get along very fast for a while, until the inevitable crash.
So yes, you can double the lot size by setting to 2. But please be careful.

[Neptune]

Ah, so you need another program, not just vanilla MT4. Basically I subscribed to A75 by going to the signals tab of MetaTrader 4 and just clicked subscribe. Where can you get that extra software and is it compatible with MT4 signals/existing accounts with say ICMarkets?

[BillHuppert]

Ah, sorry, I thought you were talking about the signals available from this site. The settings for control of the signal are in MT4 under Tools/Options. There should be a signals tab. That is where you set the options, but there is very little control, and I don't think there is a "risk multiplier" option. I tried it briefly myself on a demo account but found it far too scary due to the aforementioned lack of control.
If you do try it, be aware that if you have open trades from the signal provider and close them yourself, the terminal will immediately re-open them all at the current price. Not nice!

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