• Overview
  • Reviews (4)
  • Comments (48)
  • What's new

WaltSoft Trade Manager

  • Calculates the Lot Size for a given Percent Risk and places the order with SL and TP with a click of a button.
  • Locks in your profits on auto-pilot with a Set Break Even function and/or several Trailing Stop Loss methods.
  • Drag and position your Stop Loss and Take Profit before placing the actual order.
  • Close trades with a click of a button.
  • 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, intuitive 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 a 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.


Enjoy!

Walter


Reviews 4
jonnywolf
85
jonnywolf 2021.08.14 09:49 
 

I have used this trade manager for a couple of weeks now and by hands down this an incredibly well built and well thought about tool. 5*

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!

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Filter:
jonnywolf
85
jonnywolf 2021.08.14 09:49 
 

I have used this trade manager for a couple of weeks now and by hands down this an incredibly well built and well thought about tool. 5*

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 7.0 2021.08.10
- optimized code
Version 6.9 2021.08.10
- Issue fixed: The Account Totals (very bottom panel) were not correct when the EA was on multiple charts (instruments) with instruments with commission and instruments without commission, and this depended on the user setting "Round Turn Commission Per Lot".
Version 6.8 2021.08.05
- Average spread is now reset when changing the instrument or time frame of the chart where the Trade Manager is on.
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