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WaltSoft Trade Manager

Manage Your Risk - Protect Your Capital

  • Automatically Calculate the Lot Size for a given Percent Risk and place the order with Stop Loss and Take Profit with one single click of a button.
  • Drag and position your Stop Loss and Take Profit before placing the actual order.
  • Close positions with one click of a button.
  • Lock in profit of your trades with a Set Break Even function and/or a Trailing Stop Loss.
  • Works with Market Orders, Instant Orders, Pending Stop Orders and Pending Limit Orders.
  • Works on any instrument:  Forex, Bonds, Futures, Indices, Commodities, Metals, Crypto ...
  • Works on Renko and Range Charts.
  • Simple and straightforward, no cluttering of info.
  • ...

REMARK: this EA (partly) doesn’t work in the Strategy Tester!

Settings

  • Magic Number = 0.  0 (zero) = automatically sets Magic Number.  -1 (minus 1) = NO Magic Number.  Or Enter a unique number (or other EA MN)
  • Order Comment =  (optional). Enter your order comment
  • Money Management = Choose between:
    1. Risk Percent of Free Margin
    2. Risk Percent of Balance(default)
    3. Risk Percent of Equity
    4. Money
    5. Lots
  • MM Value = 2. The value for the above chosen method
    - Example: you lose 2% of your account balance if Stop Loss gets hit
  • Risk Reward = 2. You make 2 times your risk when Take Profit is reached
  • Stop Loss (Pips) = 10
  • Pending Order Distance (Pips) = 10. You can drag this to re-position
  • Expiration Time Pending Orders (Minutes) = 0 (no expiration when 0)
  • ** Round Turn Commission Per Lot = look this up with your broker
  • ** Have to Convert Commission = see remark
  • Set Break Even When Pips Profit = 10. Stop Loss will be moved to break even ...
  • Break Even Plus Pips = ... plus 1
  • Initial Trailing Stop Method = Choose between:
    1. Trail Pips
    2. Trail Steps
    3. Trail Bars
    4. Trail Fractals
  • When Trail Pips:  Trail When Pips Profit = 15. If price has moved at least 15 pips in profit, it will start trailing. If you hit the button at 30 pips, it will trail 30 pips
  • When Trail Step:  Trailing Step = 10,  Trail Pips = 5.  When 10 pips in profit, SL is placed at 5 pips from price.  Next step is when price moves 10 pips away from SL etc. 
  • When Trail Bars:  Trail Number of Bars = 3.  Will put SL at Highest High / Lowest Low of previous Number of Bars
  • When Trail Fractals:  Time Frame Fractals = H1 (M1 to W1)
  • Initial Kind Of Order =   Market/Instant Order or Pending Stop Order or Pending Limit Order (radio buttons on panel)
  • * Lock Button Sell default = ON
  • * Lock Button Buy default ON
  • Break Even Button Sell default = OFF
  • Break Even Button Buy default = OFF
  • Trailing Button Sell default = OFF
  • Trailing Button Buy default = OFF
  • Panel on the = Left or Right
  • Panel Color Scheme = Brown, Silver, Green, Blue or Gold Color Scheme
  • Font Size = 10. Scales the whole panel up or down
  • Panel Distance from Left (Pixels) = 5
  • Panel Distance from Top (Pixels) = 25
  • Adjust Panel Width (Pixels) = 0
  • Adjust Panel Height (Pixels) = 0
  • Show Panel Part Trade (Top) = YES
  • Show Panel Part Close (Middle) = YES
  • Show Panel Part Close All (Bottom) = YES
  • Confirm Close All = YES. Pop-up window asking to confirm
  • Play Sound Orders = YES. Play a sound when an position is opened
  • Show Info Margin Required = YES

     

    *   Buttons Lock ON (OFF)

    When ON and you click Set Sell (or Set Buy) then the Stop Loss and Take Profit targets move up and down together with price.
    When Lock is OFF, the SL and TP stay put while current price moves.

    **  Remark on Commission:

    Some brokers have a fixed commission in the account currency.

    Some brokers have a commission that has to be converted to account currency and also depends on the traded pair.

    When you are not sure what to enter in "Round Turn Commission Per Lot" and whether to set "Have to Convert Commission" to YES or NO:
    Set "Money Management" to "Lots" and enter 0.01 or 0.1 or 1 lot.
    Do a few trades on different pairs and see what the commission is.

    Enter the commission (for 1 lot) on that trade in "Round Turn Commission Per Lot". (if 0.01 lot traded --> multiply by 100; if 0.1 lot traded --> multiply by 10)
    If the commission is the same for different pairs, then set "Have to Convert Commission" to "NO" otherwise set it to "YES".


    Warning

    Some brokers provide wrong data on tick value for (especially) CFDs, meaning that your Lot Size will not be correct!
    So before live trading please always first check that instrument by making a trade on a DEMO account.
    We take no responsibility for any losses you may incur by using this software!


    Enjoy!

    Walter


    Reviews 3
    CouchTraders
    43
    CouchTraders 2020.06.08 20:04 
     

    Great tool. Very easy to see and set your Risk:Reward and the panel shows very useful data, like your overall long and short risk % of open trades. Highly recommend this Trade Manager.

    alejounoa
    96
    alejounoa 2020.03.18 15:47 
     

    I think this is an amazing tool that all traders should be using! I also wanted to say that I've never come across such great service on the platform before! It was lightning fast and spot-on! Thanks again, Walter! I really appreciate your service as well as your pointers as well!

    Akyol
    82
    Akyol 2019.05.17 16:42 
     

    First, very important to mention: Walter has a great SUPPORT. Incredibly competent.

    For every trader, whether beginner or professional: this tool RISK: REWARD is so intuitive to use.

    With the right money management, you are on the sunny side of life. And this tool is a great help.

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    Eduardo Kipper
    This Panel is also an Expert Advisor with manual and automatic order submission. Full Dashboard. That was the way i found to concern my main enemy, anxiety.  Don't be little, study, analyze, adapt this method to your own style, understand, feel the market before you take any decision. Here, in many times, do nothing, it is also a strategy.  Beyond the manual, semi-automatic and automatic mode of operation, we will see almost 300 robots which road the market 24h a day tirelessly.  All robots hav
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    PZ Gold Trader EA MT4
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    PZ TRADING SLU
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    Andrey Barinov
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    Pearl Diver
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    KL 4X Lab Free
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    Unlimited Binary Options Copier Remote
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    299 USD
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    Block Meters
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    Trendline Executor EA
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    150 USD
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    R ound   N umbers   B ackground The WaltSoft RNB Indicator adds scale and perspective to your charts. This indicator is free. If you want Alerts and Notifications when price reaches a Big Round Number then you need the Plus version of this indicator. Description On a naked chart you have no clue of how much price has moved. But put the WaltSoft RNB on your chart and it draws an alternating color background (grid) with a scale you can choose. Not only that, but it also draws horizontal line
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    WaltSoft Log Spread Indi
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    The WaltSoft Log Spread Indicator will log the Average Spread on the chosen Interval and create a .csv file in the MQL4/Files folder or when testing in the tester/files folder. Meant to be used on a life chart, but can be used in the Strategy Tester. However, an Indicator in the strategy Tester will always run in visible mode, so the test could take a longer time. If you want quicker results in the Strategy Tester then you can download the free EA version here: https://www.mql5.com/en/market/
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    WS Currency Strength MT5
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    Standard Deviation Channel MT5
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    Fibonacci Patterns Scout MT5
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    Filter:
    CouchTraders
    43
    CouchTraders 2020.06.08 20:04 
     

    Great tool. Very easy to see and set your Risk:Reward and the panel shows very useful data, like your overall long and short risk % of open trades. Highly recommend this Trade Manager.

    alejounoa
    96
    alejounoa 2020.03.18 15:47 
     

    I think this is an amazing tool that all traders should be using! I also wanted to say that I've never come across such great service on the platform before! It was lightning fast and spot-on! Thanks again, Walter! I really appreciate your service as well as your pointers as well!

    Akyol
    82
    Akyol 2019.05.17 16:42 
     

    First, very important to mention: Walter has a great SUPPORT. Incredibly competent.

    For every trader, whether beginner or professional: this tool RISK: REWARD is so intuitive to use.

    With the right money management, you are on the sunny side of life. And this tool is a great help.

    Reply to review
    Version 6.7 2021.07.21
    - Added 3 more Trailing Stop Loss Methods.
    You can now choose between:
    - Trail Pips. Trailing Button will read "TR P"
    - Trail Steps. Trailing Button will read "TR S"
    - Trail Bars. Trailing Button will read "TR B"
    - Trail Fractals. Trailing Button will read "TR F"

    (Hoovering the mouse over a button will show a tooltip with all the details)

    - Several small improvements.
    Version 6.6 2021.05.17
    - Included Commission and Swap in the calculation and display of Profit Pips, Money and Percent.
    Version 6.5 2021.03.27
    - Info Margin Required now also for pending orders
    Version 6.4 2021.01.27
    - Setting "Show Info Margin Required" now default on "YES" instead of "NO"
    Version 6.3 2020.12.28
    The info Margin Required now turns Red when it is bigger than the Free Margin.
    Version 6.2 2020.05.10
    - Added Info: Margin Required
    Version 6.1 2020.04.18
    - Info labels on Target lines (SL, TP and Price of pendings) change color to Gray when Lot Size becomes below minimum when dragging targets.
    - Added Gold Color Scheme. Tip: Nice when you use it to trade gold.
    Version 6.0 2020.04.08
    - Added Alert if entered Lot Size is smaller than min. LS or bigger than max. LS. (only when "Money Management" is set to Lots)
    - Small Bug-fix: issue was that info label (on target lines) was displayed in some occasions when it wasn't supposed to.
    Version 5.9 2020.04.06
    - Spread now also visible when top part of panel is closed
    - Trade lines: when present, info already visible (before was only when lines were clicked and/or dragged)
    - Trade lines info:
    - text now in a box for better visibility
    - info still visible when line is past the top or bottom of chart
    - Added some Color Schemes
    Version 5.8 2020.03.24
    - Changed Text Color Profit/Loss for Light Panel Color Scheme for better visibility. (OrangeRed to Red and Lime to Green)
    - Size of Check Boxes at "Account Close All" Button now scales together with "Font Size" setting
    Version 5.7 2020.03.21
    - added input: Panel at the left or at the right
    - added input: Panel Color Scheme, Dark or Light
    Version 5.6 2020.03.18
    - solved issue: panel not created when loaded from a saved template
    - solved issue: spread info not in right position when operating system text scaling applied
    - bug fix: Total Risk Long/Short text not moving when moving the panel with top parts closed
    Version 5.5 2020.03.16
    - Added spread and average spread info
    - Added amount of money to SL and TP target lines
    - Realtime update on pre-trade info while dragging SL and TP target lines
    - Some small enhancements
    Version 5.4 2020.03.13
    - Added panel to be able to change Break Even and Trailing settings on the fly
    - "Account Close All" Button: added option (check boxes) to close winning and/or losing trades
    - Some lay-out changes
    Version 5.3 2020.03.11
    1. when trades with no magic number, and initially without Stop Loss:
    - fixed Set Break Even and Trailing
    - warning on Total Risk Long/Short

    2. Disabled button Account Close All when no trades
    Version 5.2 2020.03.03
    - Added possibility to have no Magic Number (set to -1) to be able to manage trades which were done manually.

    Version 5.1 2020.02.03
    - Added option to let the Trade Manager automatically set the Magic Number.
    - Commission and Swap included in the Set Break Even and Trailing Stop Loss for more accuracy.
    - Changed some default settings.
    Version 5.0 2019.10.27
    - Added Set Break Even function.
    - Moved Trail button to second panel part.
    - Keep button states when hiding/showing panel parts.
    - Trail button does no longer have to be visible for the function to work. (Same for Break Even button)
    - Bug fix on Commission.
    - Solved issue not all positions closed with Close All button.
    Version 4.7 2019.05.29
    - Added panel part with account overview and "Account Close All" Button.
    - Added settings to initially show or hide panel parts.
    Version 4.6 2019.05.20
    Solved jumping panel position issue when hiding or showing panel parts on operating systems with scaled up font size.
    Version 4.5 2019.05.20
    Corrected same issue as in v4.4 for trailing
    Version 4.4 2019.05.20
    Corrected code for some brokers with instruments which have a bigger Tick Size than Point Value.
    Example: USA500 has a Point Value of 0.01 (2 digits) but the Tick Size is 0.25
    Version 4.3 2019.05.17
    - Added: Move Panel with mouse feature and Hide or Show parts of Panel feature.
    - Automatically put Chart on background so that Panel is on top.
    Version 4.2 2019.04.08
    Renamed some settings
    Version 4.1 2019.01.30
    - Added setting "Have to Convert Commission"
    Version 4.0 2019.01.29
    - Optimized some code
    Version 3.9 2019.01.18
    - Added option "Money" to Money Management
    So now the options are:
    - Risk Percent of Free Margin
    - Risk Percent of Balance
    - Risk Percent of Equity
    - Money
    - Lots

    - Added setting "Initial Kind Of Order" (radio buttons)
    Options: "Market/Instant", "Pending Stop Order" or "Pending Limit Order"
    Version 3.8 2019.01.15
    As requested, added settings for default state of following buttons:
    - Lock Button Sell default
    - Lock Button Buy default
    - Trailing Button Sell default
    - Trailing Button Buy default
    Version 3.7 2019.01.14
    Bugfix for Accounts with Commission
    Version 3.6 2019.01.10
    added support for 4k monitors
    Version 3.5 2018.11.20
    - Bug fix
    Version 3.4 2018.11.19
    - Optimized some code
    - Improved Trailing Stops
    Version 3.2 2018.09.11
    Version 3.2
    • Replaced input "Percent Risk" by "Money Management" and "MM Value"
    So now you can choose between:
    1. Risk Percent of Free Margin
    2. Risk Percent of Balance (default)
    3. Risk Percent of Equity
    4. Lots
    • Added "Total Risk Long" and "Total Risk Short" Info
    They are the percentage of the entire account!
    • When the calculated (or chosen) Lot size is too big to open a trade and you hit the Buy or Sell button, there will a pop-up
    window which asks you if you want the Manager to try and adjust the Lot Size to Maximum possible Lot Size and then open
    the trade.
    If you choose NO, the trade is canceled.
    • Several aesthetic improvements
    Version 3.1 2018.08.30
    Setting "Percent Risk" was: Percent of your account equity
    Is now: Percent of your account FREE MARGIN