Just bought it today, love it.
Forex Trade Manager MT4
Determination of transaction risk by calculating possible profits and losses. Precise designation of TP and SL levels for each transaction. These are the basic activities that every trader of financial markets must face with. The purpose of these calculations is very simple, achieving satisfying profits from FX transactions, with a minimum of risk. This is certainly the dream of each trader. This makes it difficult for new investors to take their first steps in this market.
Do not you believe that one tool is enough to make investing safer, easier and much more effective? Forex Trade Manager has:
- intuitive, visual determination of Stop Loss and Take Profit levels;
- a modern algorithm that effectively determines the risk of trading before it is executed;
- determination of the value of trade;
- precise calculation of the risk to reward ratio;
- the ability to open and close transactions from one panel, quickly and very intuitively.
The program was built based on a very ergonomic interface. You only need a moment to understand all the functions and open your first trades. This product is the result of many months of hard work of the best financial markets specialists. Forex Trade Manager significantly automates the trading process and helps to accurately assess the risk without wasting time on a complex analysis.
Main features
- visual orders: trade by horizontal lines placing on chart to set open, stop loss and take profit levels;
- calculation of potential profit or loss in account currency;
- lot size calculation based on risk % of account equity, account balance or fixed cash amount;
- risk reward ratio calculation;
- easy placing market or pending order by clicking button on panel;
- easy order modification;
- fast closing market or pending orders (all / profitable / lossy);
How to use Forex Trade Manager
Step 1: Draw lines
- click the button Draw (with pencil) and then click on the chart where you want to place the „Open” line.
Step 2: Move lines on chart
- double click on lines and move them to specified levels where you planned to open order and set stop loss and take profit.
Step 3: Adjust lot size
- set lot size in panel and read what is your stop loss and take profit value in account currency
- or select one of the automatic lot calculation based on risk % of account balance/equity or fixed cash amount
Step 4: Place order
- Click button "Market Order" or "Pending Order" on panel
Step 5: Clear lines
- click button clear (with rubber) to remove lines from chart.
It is possible to manage orders via Trade Manager. Select "Manual Manage Orders" tab and select order from list. You can set new stop loss or take profit as distance from open price in pips or direct setting sl/tp levels.
Trade Panel has also button to quick close market orders (all / profitable / lossy) or delete pending orders (all / limit orders / pending orders).
Parameters
--- TRADE PARAMS ---
- Only Current Symbol - TRUE: panel manage only current chart symbol orders, FALSE: panel manage all symbols orders
- Only Current Magic No. - TRUE: panel manage only orders with defined Magic Number, FALSE: panel manage all orders
- Magic Number - unique number for placed and managed orders
--- RISK ---
- Risk Reward Ratio - fixed or default Risk Reward Ratio. If you push „R:R” button on panel, than program will keep lines’ distance with selected ratio.
- Allowed Risk % - acceptable risk of single transaction according to account balance (allowed values from 0.1 to 100).
- Acceptable Risk Color - font color of risk % if it is smaller or equal than acceptable risk (set by AllowedRiskPercent param)
- Unacceptable Risk Color - font color of risk% if it is greater than than acceptable risk (set by AllowedRiskPercent param)
--- PANEL ---
- Horizontal Alignment - panel can be horizontally aligned to left/right border or center.
- Y distance - distance in px from top.
- Font Color - panel font color
- Font Size - panel font size
--- LINE OPEN / STOP LOSS / TAKE PROFIT ---
- Line Style - select line style from list (solid, dash, dot, etc.)
- Line Color - line color
- Text Color - label text color
--- PREFIX & SUFFIX ---
- Autodetect - TRUE: program automatically detects symbol's prefix and suffix
- Prefix - defined symbol's prefix
- Suffix - defined symbol's suffix
Video
Been using this tool for a full week about 4 to 5 hours every day. Super simple to use and just perfect for scalpers like me that rely on fast execution. There has been no bugs or lags experienced while using this EA. Love it!