TradeManager Pro MT4

Introduction

Managing a trade by hand often means an order ticket, a lot calculator, a stop-loss to edit and a set of personal rules to keep in mind. Trade Manager Pro puts these tasks in one panel on your chart.

It is a manual trade manager, not an automated strategy. You decide when to enter. The panel handles order entry, position sizing, stop management and the risk limits you set for yourself.

Two design choices set it apart. First, it has a Real mode and a Virtual mode. Virtual mode is a complete simulated account with its own balance and statistics, so you can practise a routine with the same buttons and without opening any new position at your broker. Second, you can keep stop-loss and take-profit levels on your own computer instead of at the broker, and drag them on the chart.

It works on hedging and netting accounts, on any symbol and any chart timeframe.

Key features

Order entry. Market orders with one click, plus buy stop, sell stop, buy limit and sell limit orders placed at a distance in points that you type. Pending orders can be sent to the broker, or held by the panel and sent as a market order when price touches them. You can also arm the panel and click a price on the chart to place a held pending order there. Drag its line to move it.

Position sizing. Type a lot, pick one of seven presets, or switch on Auto Risk. Auto Risk calculates the lot from your stop-loss distance and a percentage of equity or balance. Three risk levels are available, 0.5, 1.5 and 3.0 percent by default, and all three can be changed.

Stop management. Set stop-loss and take-profit in points, either sent to the broker or kept as virtual levels. Break-even, a trailing stop and four trailing profit levels only ever tighten a stop, never loosen it.

Position tools. Close all positions, only buys, only sells, only profitable, only losing, or one chosen position. Partial close at 25, 50 or 75 percent, scale in, scale out, hedge and reverse.

Templates. Scalping, Day trade and Swing templates set stop-loss, take-profit, risk level and automation in one click. Their distances are scaled for forex, metals, indices and crypto. A fourth slot stores your own settings.

Statistics. Profit and loss for today, yesterday, this week and this month, plus win rate, profit factor, expectancy, average win and loss, streaks and maximum drawdown. A table lists open positions with a close button on each row. Each closed position counts as one trade.

Market view. Trend and RSI on M30, H1, H4 and D1, support and resistance, four pivot point methods, volume compared with its average, and divergence between price and RSI, MACD, Stochastic or CCI. These readings are for information only. The panel does not trade on them.

Alerts and layout. On-chart banner, sound, and optional pop-up and push notifications. Drag the panel by its title bar, snap it to a corner or minimize it. Close all, reverse, emergency stop and account reset ask for confirmation. Keyboard shortcuts (hold Shift) can be switched off.

Risk management and settings

Risk limits. Six limits can be set, and each is switched off by entering 0: daily loss, weekly loss, drawdown from the equity peak, consecutive losses, open positions and trades per day. The defaults are 5 percent, 10 percent, 20 percent, 4, 10 and 20. A warning appears at 80 percent of the loss and drawdown limits. While a limit is exceeded the panel refuses new orders, and the drawdown limit stays active until you press Resume. You can also let the panel close all positions when a loss or drawdown limit is reached. Emergency Stop closes every position, cancels pending orders and halts trading until you press Resume.

Order checks. Before an order is sent the panel checks the connection, the algo trading permission, the symbol trade mode, optional working hours, the minimum reward to risk, available margin, the broker's minimum stop distance, the broker's volume cap per direction and its limit on pending orders. If a check fails, the panel says which one.

Inputs, in groups. General: magic number, order comment, managing other trades and other symbols, virtual account balance, confirmations and shortcuts. Execution: base slippage for forex, metals, indices and crypto, retries, minimum reward to risk and the share of free margin one order may use. Lot sizing and risk levels: default lot, lot limits, the three risk percentages, equity or balance basis and default stop-loss and take-profit. Automation: break-even, trailing and profit level triggers. Analysis: settings for the multi-timeframe view, support and resistance, pivots, volume and divergence. Working hours and alerts: trading window by time and weekday, banner, sound, pop-up and push.

Limits you should know about. Virtual stop-loss and take-profit work only while the panel is running on a connected terminal. If the terminal closes, the panel is removed or the connection drops, those positions have no stop at the broker. The close is a market order sent after price touches the level, so a fast market can fill beyond it. Use broker-side levels where that risk is not acceptable.

By default the panel manages every position on the chart symbol, including manual trades and trades opened by other Expert Advisors. To limit it to orders opened from the panel, turn off Manage manual trades / other EAs.

Loss limits are calculated from the trades the panel manages. The drawdown limit uses account equity.

The panel does not predict the market and does not promise any result. Trading leveraged instruments involves a risk of loss. Try the panel in Virtual mode and on a demo account before you use it on a live account.

Frequently asked questions

Does it open trades on its own?

No. Apart from pending orders that you placed yourself, it never opens a position. It can close positions: at a virtual stop, on Emergency Stop and, if you enable it, when a risk limit is reached.

Does Virtual mode send orders to my broker?

No new orders are sent. Positions that are already open in Real mode stay managed, so their virtual stops and automation keep running while the panel runs.

Which accounts and symbols does it support?

Hedging and netting accounts, and any symbol. The Hedge button needs a hedging account. On a netting account an opposite order would close the position, so the panel declines. Run one copy per symbol on each account.

Can I use it next to other Expert Advisors?

Yes. Set Manage manual trades / other EAs to false if you want it to leave their positions alone.

What happens if I close the terminal?

Broker-side orders and stops are not affected. Virtual stops stop working until the panel runs again. Settings, the virtual account and virtual stop levels are saved on your computer and restored at the next start.

Does it use DLLs or the internet?

No. It has no DLL calls and no web requests. Its files are kept in the terminal's Files folder on your computer.

Can I try it before buying?

The MetaTrader Market provides a demo that runs in the Strategy Tester. It does not run on a live chart. After purchase you can attach it to a demo account and start in Virtual mode.

How do I get started, and where do I ask questions?

Attach the panel to a demo chart, switch to Virtual mode, open a trade with a stop-loss and a take-profit, then try break-even and trailing. Set your limits on the Risk tab. When you are comfortable, move to Real mode with the minimum lot. Questions and bug reports are welcome in the Comments tab of this product. Updates are free and listed under What's New.