Managing risk consistently is the single most important factor that separates profitable traders from the rest. Yet most traders still calculate lot sizes manually, guess their position sizing, or skip risk management altogether when the pressure is on.
TR Trade Manager is a free MetaTrader 5 utility that automates risk-based trade execution, so you can focus on your analysis instead of your calculator. Whether you are a prop firm trader, scalper, swing trader, or just getting started, this tool enforces discipline on every single trade.
In this guide, we will walk through every feature, show you exactly how it works, and explain why thousands of MT5 traders are using it daily.
What Is TR Trade Manager?
Download TR Trade Manager on the MQL5 Market
TR Trade Manager is an Expert Advisor (EA) utility for MetaTrader 5 that handles trade execution and position management. It is not a trading signal provider or automated strategy. It is a tool that executes your decisions with precision and consistency.
You set your risk percentage and risk-reward ratio once. From that point on, every trade you place through the panel will automatically calculate the correct lot size, set your stop loss, and place your take profit, all with a single click on the chart.
- Completely free on the MQL5 Market, no hidden fees or premium tiers
- Works on any symbol: forex, indices, commodities, crypto
- Compatible with all MT5 brokers
- Designed with prop firm rules in mind
- Actively maintained with regular updates
How to Install TR Trade Manager
- Visit the TR Trade Manager page on the MQL5 Market and click Download
- The tool is automatically installed into your MetaTrader 5 application
- Open MetaTrader 5 and find TR Trade Manager in the Navigator panel under Expert Advisors
- Drag it onto any chart
- Make sure Algo Trading is enabled in the toolbar
- Make sure One Click Trading is enabled in Tools > Options > Trade
The tool remembers your settings between timeframe switches and terminal restarts, so you only need to configure it once.
The Main Panel
When you attach TR Trade Manager to a chart, a compact panel appears in the top-left corner. It is intentionally minimal with only the controls you need to execute trades consistently.
On / Off Toggle
The toggle activates the trade manager. When turned on, your mouse cursor becomes a crosshair for placing stop-loss or entry levels directly on the chart. When turned off, normal chart interaction resumes.
You can also toggle the trade manager using a keyboard hotkey (default: E). This is configurable in the EA input settings, allowing rapid activation without touching the panel.
Risk (%) Input
Enter your risk as a percentage of your account equity. For example, entering 0.5 means you risk 0.5% of your equity on each trade. The tool uses this value to calculate the exact lot size based on the distance between your entry and stop loss. This is the core of consistent position sizing.
Risk Reward Ratio (RRR)
Set your desired risk-to-reward ratio. If you enter 3, your take profit will automatically be placed at 3x the distance of your stop loss. Enter 2 for a 1:2 ratio, 1.5 for 1:1.5, and so on. The take profit is calculated and placed automatically when the trade is executed.
Order Type Selector
Choose between three execution modes:
- Market - Instant execution at the current price
- Limit Order - Place a pending limit order at a specific price
- Stop Order - Place a pending stop order at a specific price
Placing a Market Order
Placing a risk-managed market order takes exactly two actions: turn on the trade manager and click on the chart where you want your stop loss. The tool does everything else.
- Determines buy or sell based on whether you clicked above or below the current price
- Calculates the lot size using your risk percentage and stop-loss distance
- Calculates and places the take profit based on your RRR
- Sends the order to your broker
How the Lot Size Calculation Works
The lot size formula accounts for your account equity, your risk percentage, the stop-loss distance in price, symbol-specific tick value and tick size, and round-trip broker commission which is automatically detected. This means the tool works correctly on forex pairs, indices, commodities, and any other instrument.
Example: You have a $100,000 account, risk is set to 1%, and you click a stop loss 50 pips away on EURUSD. The tool calculates that 1% equals $1,000 risk. With a 50-pip SL, the correct lot size is 2.0 lots. If your broker charges $5 per lot in commission, the tool adjusts the lot size slightly downward to keep total risk within the 1% target.
Placing Pending Orders
For traders who pre-plan entries, TR Trade Manager supports both limit orders and stop orders with the same click-to-trade workflow.
- Select Limit Order or Stop Order from the dropdown
- Turn on the trade manager
- First click sets the entry price (green line on chart)
- Second click sets the stop loss (red line on chart)
- The order is placed automatically with the correct lot size and take profit
The tool automatically determines direction based on entry and stop loss positions. Entry above stop loss produces a buy order. Entry below stop loss produces a sell order. All risk calculations work identically to market orders.
Auto Partial Take Profit
The Auto Partial Take Profit system lets you place horizontal lines on the chart that automatically close a percentage of your position when price reaches them. This locks in profit while letting the remainder run, reduces emotional decision-making by predefining exits, and improves overall risk-reward dynamics.
How to Set Up Auto Partials
- Click the Partials button on the main panel to open the partials panel
- Click New Partial to enter placement mode
- Click on the chart at the price level where you want a partial close
- An orange dashed line appears labeled with the partial number and percentage
- Edit the percentage in the input field (default: 50%)
- Repeat to add multiple partial levels
Each line can have a different close percentage. You can drag lines on the chart to adjust the trigger price. When price reaches a line, the tool automatically closes the specified percentage of all open positions on the current symbol and removes the line from the chart.
The panel also includes a Close 50% button for an instant manual partial close without pre-setting levels.
Break Even
The BE button moves the stop loss of all open positions on the current symbol to their entry price. This is a one-click operation that eliminates risk on open trades after price has moved in your favor. Use it after price has moved enough to justify removing initial risk, or combine it with partial take profits.
Close All Positions
The Close All button instantly closes every open position on the current symbol. This only affects positions on the symbol where the trade manager is attached and will not interfere with trades on other instruments.
Linked Position Management
When you open a trade through TR Trade Manager, all resulting positions are linked with an internal identifier. Modifying the stop loss or take profit of one position automatically updates all linked positions. This is especially useful when the lot size exceeds the broker's maximum and is split into multiple positions.
Risk Management Safeguards
Lot Size Limit
Enable a maximum lot size limit in the EA input settings. If a trade would exceed this limit combined with already open positions, the order is blocked and you receive an alert.
Position Limit
Set a maximum number of open positions. The tool will prevent new trades once this limit is reached. This is particularly useful for prop firm challenges where strict rules must be followed.
Automatic Lot Size Splitting
If the calculated lot size exceeds the broker's maximum allowed lot size per order, the tool automatically splits the trade into multiple positions. No manual action is required.
Input Settings
Setting | Description | Default |
|---|---|---|
| UI Resolution | Standard or High resolution mode | Standard |
| Hotkey to toggle | Keyboard key to activate the trade manager | E |
| Enable lot size limit | Turns on the lot size safeguard | Off |
| Lot size limit | Maximum combined lot size allowed | 0.0 |
| Enable position limit | Turns on the position count safeguard | Off |
| Position limit | Maximum number of open positions allowed | 1 |
Who Is This Tool For?
Prop Firm Traders
Prop firms have strict drawdown limits and risk rules. TR Trade Manager ensures every trade respects your risk parameters. The position limit and lot size limit features add an extra safety net against accidental rule violations.
Scalpers
With the hotkey toggle and single-click execution, you can enter a fully risk-managed trade in under a second. No switching to calculators, no typing lot sizes manually.
Swing Traders
Whether you are trading EURUSD, Gold, or NAS100, the tool calculates the correct lot size for each symbol automatically. Set your risk percentage once and trade any market.
Beginner Traders
Incorrect position sizing is the number one account killer for new traders. TR Trade Manager removes this risk entirely. Set your risk percentage and the tool handles the rest.
Frequently Asked Questions
Does it work with any broker?
Yes. The tool automatically detects your broker's filling mode (FOK, IOC, or Return) and configures itself accordingly. It works with all MT5 brokers.
Does it work on all symbols?
Yes. Forex, indices, commodities, crypto, stocks. Any instrument available in your MetaTrader 5 terminal.
Does it interfere with other EAs?
No. TR Trade Manager only manages positions that it opens using an internal identifier. It will not modify or close trades opened by other EAs or manual trades placed without the tool.
Will my settings be saved?
Yes. Your risk percentage, RRR, and order type are saved to a configuration file and persist across timeframe changes and terminal restarts.
Does it account for spread and commission?
Yes. The lot size calculation factors in both spread for sell orders and broker commission, automatically detected from your trade history.
Download TR Trade Manager
TR Trade Manager is 100% free with no hidden fees, trials, or premium tiers. It takes less than a minute to install and your very next trade will be risk-managed correctly.
Download TR Trade Manager on the MQL5 Market
TR Trade Manager is developed and maintained by Trading Rocket. It does not provide trading signals or automated strategies. It is a trade execution and risk management utility designed to improve consistency and reduce human error.
