Trading is like bathing in a pond with sharks. You have to be the faster shark. The tool holds you informed and allows very quick action.
I programmed this tool out of the necessity to be constantly informed about what is going on. Before I sometimes forgot to set a stopp loss, this is impossible with this tool. Further this tool allows you to make distributed entries, eg. with a first feeler with 0.1 contracts and when the direction is the right one you just put more contacts into the game. Money- and risk management is built in. If you use more then the predetermined number of contracts there is a warning. You are constantly informed about your win/loss situation. The tool warns you, if your wins grow too big or you enter trades with too many contracts. It informs you about the state of the ADX-Indicator, so that you are warned about illiquid states of the market.
- No single trade is without stop loss and take profit.
- Stop and limit orders are easily started.
- You can chose the number of contracts with one click.
- You see the profit/loss of every asset separately.
- You can cancel all open orders.
- You can cancel all stop and limit orders.
- You get a warning if you trade with too many contracts.
- You get a warning if your wins are too big (euphoria is very dangerous, you don't see dangers any more)
- You are informed about ADX and Di+ and Di-.
- You are informed about the spread.
You have to unchecked "Chart in foreground" in the properties menu. Otherwise it might prevent you to click the buttons if there is some chart element over it.
The default Values are set for Indices (Dax, Dow etc.). Be aware that you have to change the settings for currencies as follows:
distance stop buy from 2 to about 0.00005 (5 Pipettes)
stop loss from 1500 to about 30 (Points)
please test the settings first in a demo account. Save your settings in a.set file.
Learning to use
Just practice the tool in a demo account. Be aware that there are "one click orders", which might be very dangerous.
Before you Buy/Sell you have to select the volume by clicking on the blue buttons. You cannot buy/sell, if the volume is set
to 0. By default the volume is reset after 50 ticks to zero for security reasons.
If you click "Buy" without selecting a volume you get the following message: Buy() method failed. Return code=10014. Code description: invalid volume
- Funds at morning (enter your funds when you start trading)
- Max allowed contracts (if you have more than the allowed number app will say "too many contracts"
- Max daily win (you can enter your maximal win, so that you know when to stop trading, think of euphoria!)
- distance stop buy (distance from ask for stopp buy or limit buy)
- distance stop sell (distanc from bid for stopp sell or limit sell)
- Stop Loss *100 (Stop Loss in points, eg. Dow = 15 points = 1500)
- Take Profit * 100 (Take profit in points, eg. Dow = 60 points = 6000)
- Contracts Button 1 - 3 (assign number of contracts to button 1 to 3)
- Initialize number contracts (Default 0, number of contracts are reset to this value, can be 0.1 or 1, too)
- Start trading broker time (for security, not that you trade e.g. at night when the spread is 7 points)
- Stop trading broker time (afterwards no trading possible, for security reasons)
- Positioning of Buttons x coord (you can position the buttons)
- Positioning of buttons y coord
- Some colors to choose
- Number of ticks to reset contract number to zero
- Max slippage (Maximum slippage allowed)
- Seconds to reset timer for contracts (reset number of contracts)
- talk (activate talked warnings)
I use this tool for about one year, there are no serious issues. Be sure to test the application in a demo account.
For security reasons the contract number is reset after 50 ticks (default), sound says "contracts reset to zero". You have to select the contract number again after that.
Be sure to have the chart drawn in the background. The chart in the foreground could prevent you from clicking the buttons. Also be sure to have "Auto Trading" to on.
The tool does not prevent you from losing money! Just be careful, the quick clicks might lead you to overtrading.
This tool does not guarantee any success. It is your own responsibility to use it correctly.
Contact me over the messages of mql5.
24.07.2018, Terence V. Gronowski "SwissTrader".