Smart Position Size Pending Order Trading Tool for MT4: One-step risk-based position sizing

This 2025 review provides an objective performance analysis of the Smart Position Size Pending Order Trading Tool and its practical role on the MT4 platform. Developed by Xinlong Liu, the tool is a risk-based position sizing utility that calculates lots from a fixed cash risk, entry and stop loss levels, then places a pending order with SL and TP attached. In this review and analysis I examine how the tool enforces consistent risk per trade, reduces sizing mistakes, and interacts with different market environments when used manually by a human trader. Unlike autopilot Expert Advisors, Smart Position Size Pending Order Trading Tool does not make trade decisions; it provides deterministic calculations and order placement once the trader defines price points. The script computes pip distance to stop loss, converts the trader-defined cash risk to lot size using account leverage and instrument contract specifications, and bundles the pending order, stop, and take profit into a single command. That approach works best in trending and range-bound Forex conditions where clear entry and stop levels exist, and it is less suitable for news spikes and illiquid sessions. The risk management approach is conservative and transparent: fixed-dollar risk per trade, explicit SL, and TP pairing encourage consistent expectancy. Expected performance depends entirely on the trader’s entries and strategy; typical use cases show improved position-sizing consistency and lower account drawdown volatility. For active manual traders, Smart Position Size Pending Order Trading Tool can materially reduce sizing errors and save time, but it does not promise automated profit generation or strategy optimization.