Forex Trade Manager is your ultimate companion in the world of forex trading, designed to empower seasoned traders and streamline their manual trading processes. Unlike conventional automatic trading robots or Expert Advisors (EAs), Forex Trade Manager does not independently initiate trades or make trading decisions. Instead, it enhances manual trading by facilitating more efficient operations and informed decision-making.
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Key Features of Forex Trade Manager
Position Management and Risk Control
- Quick Position Management: Execute one-click operations to open, close, or reverse positions.
- Risk-based Lot Calculation: Automatically compute trade volumes based on predefined risk parameters.
- Quick Pending Order Placement: Expedite the setup of pending orders with customizable parameters.
- Breakeven, Trailing Stop, and StopLoss/TakeProfit Setting: Easily configure and adjust Stop Loss (SL), Take Profit (TP), breakeven, and a range of trailing stop strategies, both before and after entering a trade.
Advanced Order Management
- 3-Level Partial Close & 4 Types of Equity Auto Close: Manage partial or complete position closures based on market performance or user-defined criteria.
- Grid Support and Lot Increasing Modes: Harness advanced grid trading functionalities with various lot size strategies and position management.
- Hedge Function: Enable the opening of hedge positions to mitigate risks.
- Scheduled Position Closure: Plan the automatic closure of positions at designated times.
Trading Strategy Assistance
- Trend Line and Channel Trading: Receive support for position entry based on trend line breakthroughs and equidistant channel utilization.
- Dashboard Window & Detailed Position Information: Access real-time market data and comprehensive analytics on open positions.
Enhanced Security and Stealth Features
- Stealth Mode: Conceal SL and TP levels from brokers for added security.
- Spread Maximization: Set maximum spread limits to prevent position initiation under unfavorable conditions.
User Experience and Customization
- Customizable Interface & Toolbar: Tailor the layout to your preferences and gain rapid access to essential features.
- Alarms & Notifications: Configure alerts for various trading events and position changes.
- Daily Profit Information & Screenshot Capture: Monitor trading performance and capture trade screenshots for record-keeping purposes.
Forex Trade Manager can be employed across a wide range of assets, including Forex currency pairs, commodities, cryptocurrencies, binary options, stock markets, and indices. You have the flexibility to utilize it on timeframes that align with your trading strategy, from the 1-minute to monthly charts.
Main Chart and Key Functions of Trade Manager MT4
The Trade Manager MT4 primary window delivers a wealth of critical functions, providing traders with essential tools to enhance their trading experience and achieve greater success.
1. Main Control Panel Features
- Buy/Sell Options: For opening long or short positions.
- Partial Close: To part-close the last position.
- Close All: Instantly closes all open positions.
- Breakeven, Reverse, and more: For advanced position management.
Dashboard and Additional Windows
- Dashboard: Shows bid/ask prices, indicators like MA, CCI, RSI, and currency strengths.
- Profit Info Window: Displays profits in pips and currency.
- Account Info Window: Current balance, margin, drawdown, and more.
- Order List Window: Review and manage open positions.
- Order Properties Window: Detailed management options for selected positions.
- Guide Lines: For SL, TP, and other adjustments.
- Remaining Time to Next Candle: Helps in timing decisions.
- Pivot Lines: Display of pivot levels.
- Toolbar: Quick access to settings and features.
The MT4 Order Manager’s toolbar is designed for seamless and efficient trading, integrating multiple functions to enhance your trading experience. Here’s a concise overview of its key features:
- Windows Show/Hide: Easily toggle the visibility of the manager’s windows for a clutter-free chart.
- Guide Lines Show/Hide: Take control of the display of trade management lines, including StopLoss and TakeProfit, directly on your chart.
Trade Initiation Tools
- UseTrendLines & UseChannels: Open trades based on trend line and “Equidistant Channel” line breakouts, ideal for trend-following strategies.
- OppositeTrendLineOrder: Complement your trading options by initiating counter-trend positions on trend line breakouts.
Position Opening Criteria
- OpenAfterCandleClose: Make informed decisions by selecting whether to open positions based on the candle’s closing position in relation to the trend line, adding a layer of confirmation to your trades.
- OCO Mode: Manage multiple trading setups efficiently by enabling the automatic cancellation of other orders or trend lines once one is activated, preventing conflicting positions.
Post-Trade Management & Analysis
- DeleteTrendLineAfterOpen: Choose whether to keep or delete trend lines after position opening, streamlining ongoing trade management.
- UsePreDefinedStopLoss: Enhance risk management by setting StopLoss and TakeProfit levels before executing a trade.
- MakeScreenShots: Automate the capture of screenshots for your records and performance analysis.
With the MT4 Order Manager Toolbar, you have a powerful set of tools at your disposal, ensuring efficient and effective trading while enhancing your decision-making process.
Forex Trade Manager stands as a sophisticated, feature-rich tool engineered to simplify the intricacies of forex trading. It transcends being a mere trade execution tool and emerges as a comprehensive system dedicated to enhancing trade management, analysis, and execution. With its streamlined trade management, advanced risk calculation capabilities, and customizable interfaces and alerts, Trade Manager MT4 is the ultimate choice for professional forex traders in pursuit of efficiency and precision in their trading endeavors. It empowers you to take your trading to the next level with confidence and ease.