PZ Trade Pad Pro MT4

This is a visual trade panel that helps you to place and manage trades easily, avoiding human errors and enhancing your trading activity. It combines an easy to use visual interface with a sound risk and position management approach.

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• Amazingly easy to use
• Trade easily from the chart
• Trade with precise risk management, hassle free
• Capital preservation is top priority
• Let profits run without your attention
• Enjoy risk-free trades as soon as possible
• Automatic trailing stops for all opened trades
• Initial stop losses are placed as soon as trades are taken

The EA performs the following tasks after you have taken a trade:

1. The initial stop loss/take profit is automatically placed
2. It locks into a free-ride as soon as possible (optional)
3. It moves the stop loss to breakeven for the first time (optional)
4. It trails the stop loss using your desired method until stopped out

Other cool features are:

• Great terminal activity reporting
• A single and yet powerful trailing stop method
• A clean and on-chart interface
• It has no input parameters

What happens once I have taken a trade?

This is what the EA does once you have taken a trade:

1. It places the initial stop loss and take profit orders.
2. Get a free-ride as soon as possible and assure capital preservation. By default, this is accomplished by closing 50% of the trade when the breakeven point is reached, which is 5 pips by default. This means that if you get stopped out in the future, you will have lost nothing (optional).
3. The trailing stop starts operating after the breakeven is performed.
4. It trails the stop loss until stopped out, letting profits run.
   

How does the trailing stop work?

The trailing stop is expressed as a percentage of the profits of the trade being managed. For example, with a 25% trailing stop value, the actual trailing stop will be 25 pips when the trade is 100 pips in profit, but 250 pips when the trade is 1,000 pips in profit. This allows the profits to run, and the trailing stop remains proportional to the trade profit.

Author

Arturo López Pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.