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.
If you want to test a FULLY FUNCTIONAL VERSION of the Trade Manager please contact us (visit our profile) for a free 7-day trial.
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;
- break even activated on set profit in pips or % of distance to TP;
- trailing stop;
- automatic and manual order part closing.
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.
- 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.
- double click on lines and move them to specified levels where you planned to open order and set stop loss and take profit.
- 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
- Click button "Market Order" or "Pending Order" on panel
- 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).
Some of the most important 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)
- added a dialog box where you can set the exact level of the opening price (showing by a Ctrl+left-click on the open bar)
- including commission in lot calculations
- two pin states SL and TP: a single click on the pin is a SL / TP pinned that can be moved with the mouse; a double click is an SL / TP pinned without the possibility of moving the mouse
- support for symbols with lot lower than 0.01
- improvement of the prefix and suffix auto-detection procedure
- exclusion of the import of SL and TP values from the settings of other symbols
- improved a block/lines drawing for some cases
- reverse button at the open line to flipping long / short position
- pin button at the stop and target for pinning levels separately
- no need to double-click the line with the left mouse button before moving
- improved display of text on buttons on high screen resolutions
- fixed problem of the panel hiding behind the char area with zoom greater than 100% and right alignment
- improved calculation formula for "Futures"
- drawing and clearing lines (open, stop and target) is on the one button
- trailing stop: activation parameter as % of distance to TP and parameter trailing as protection of % of earned profit.
- ability to disable button to open market orders when lines (open, stop and target) are drawn on the chart (pending orders only)
- ability to set max. lot size. If this size is exceeded, a warning message box will appear.
- display on the lines the amount value in the account currency of the stop and target without cents
- display stop and target as a % of the account balance or equity
- the third option for setting the distance of partial order closing and breakeven activation: Risk Reward (rr)
- break even offset as % of earned profit ("Profit" parameter)
- add comment field into the panel
- add option to place open line x pips below/over candle
- handling different order filling types (only MT5 version)
- improved partial closing algorithm to handle also trades without SL/TP
- improved calculation formula for "Futures" and optimized orders closing procedure
- added a button on the panel for manual closing a part of open orders
- added a button on the panel for manual moving Stop Loss to Break Even.
- bug fixes
- automatically hide lines after order fill (as an option default on);
- automatically minimize panel after order fill (as an option default off);
- possible set default distance of stop loss & take profit lines when drawing it on chart as fixed value in pips or a multiple of the ATR value. ATR parameters to set in Trade Manager settings window;
- moved "close" buttons set to the first tab to make all open and close buttons available without need to switch between tabs;
- new tab: config;
- moved Risk Reward Ratio parameter from settings window to config tab;
- moved Allowed Risk % from settings window to config tab;
- window reduction in a minimized state
- automatically adjust open price, stop loss and take profit to the nearest valid price. e.g. when price is quoted with 2 decimal points, but tick size is 0.25 (mainly for CFD)
- remembering state of panel when changing chart timeframe