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Thread: The Best Mt4 Trade Manager

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    Lightbulb The Best Mt4 Trade Manager

    All about the Best Mt4 Trade Manager ~ EA

    What is EA?

    EA stands for the Expert Advisor. An EA is an automated trading device that can open, and close trade every day automatically. For forex trading, you have to be active for 24/5 days in the market and it is no longer feasible for human beings to start to be lively for such a lengthy time. They want to take rest and handles their day by day life works.

    For this purpose, expert merchants make software program that works for them automatically. With the assist of this software, you can easily change 24/5 in the forex buying and selling market. EA is used for several buying and selling platforms in foreign trade (forex trade). This software program approves customizing the buying and selling system as they want and then they can use this indicator in their account of meta dealer 4 and meta trader 5.

    Forex advisor trade manager (click this link https://forexindicator.in/forex-advisor-trade-manager/ )

    Forex expert advisor software (click this link: https://forexindicator.in/forex-expe...isor-software/ )

    Trading with EA for beginners

    A beginner assumes that buying and selling with the help of expert advisors is difficult. You can exchange without problems with the assist of this software program as the expert merchants are trading. It can help you to make a wholesome income without your interference. It can comparably assist them that it is supporting the other ones. The element that you have to keep in the idea is that you have to use very cautiously due to the fact you do no longer the ride the usage of the symptoms and software.

    I recommend that earlier than starting your trade-in real mt4 account you have to change for at least one month in the demo account, it allows your account to change in a better manner and give healthful earnings to you.

    Testing for expert advisors:

    Testing is an important issue in each field. It enables you to take a look at the capacity of something that how an awful lot does it works and how does it work. You can also check this guide earlier than use it in the actual broker. It tells you how flawlessly it works.

    Advantages of an Expert Advisor

    By the usage of EA in your exchange you can remove emotional elements from your change like fear of loss, greed to take profit. When you are the usage of this method then these things would now not play any position in it. It mechanically based on the expert advisor that how he trades; it does now not follow your guidelines due to the fact it is an automatic application.

    Best mt4 EA robot download free

    If your supply of profits is simply forex trading then the expert advisor can dispose of your stress level. It can work for your day by day income. Eas can be work as fashion indicators, moving indicators, technical indicators, and scalping indicators.

    By the use of these four indications at a time you can analyze adjustments in the market in a higher way and it can help you to behave like a financial instrument. The EA can also generate signals for market trends.

    This marketing consultant is designed for full manipulate of the account. This consultant additionally has manipulated the modern-day account balance.

    Download best forex robots (EA) for mt4/mt5 free

    It can take a look at the cutting-edge stability earlier than placing the balance on hazard the foremost advantage of this expert advisor is that it put solely 1-2% of your modern stability at risk. Traders can be notified via this advisor before trailing take earnings or end loss in the trade. Traders do not need to go into the depth of expertise of the trade.

    They can without difficulty alternate through using this software in their trade. It is one of the high-quality expert advisors. It does all the matters automatically. It does now not need any interference, it can make entry and exit for sale and purchase automatically, and it can take income automatically and can give up loss simply by placing a notification on your account.

    Created out of the sheer frustration of buying and selling with mt4

    A 10 minute method done in 10 seconds. Easily area your entry, give up loss, take profit, breakeven, partial profit, trailing give up and idea invalidation in 2 simple clicks. After that, pick out how plenty you desire to chance for each change based totally on lot size, greenback amount of % of equity.

    Features of the mt4 trade manager EA

    Some of its super features.

    1. Smart lot size calculation & recalculation

    Reverse calculate your lot dimension primarily based on fairness percent or dollar quantity $. The EA elements in how far your quit loss is and reverse calculates the correct lot measurement based on your risk allocation to that trade.

    If you modify your pending order’s stop-loss distance, the EA will automatically recalculate the correct lot size for you and change the alternate with the right lot size.

    2. 1-click stop loss / take profit targets

    Place your quit loss and take income aims with a single click. Works for market orders and pending orders.

    3. Easily modify existing trades

    Adjusting your degrees is as convenient as clicking and reactivating the setup.
    Even if you modify your end loss distance, the trade manager can without difficulty help you recalculate the right lot measurement to risk the same authentic amount.

    4. 3 levels partial profits

    The trade manager EA allows you to set up to 3 separate partial profit ranges along with customizable % to be closed at each level.
    Very beneficial for locking in income at key levels of your trade.

    5. Multiple trailing stop loss

    Wide decision of trailing cease loss features, from simple trailing stop, to 3 step trailing stop, to ATR stop loss, chandelier trailing quit loss and even parabolic SAR stop loss. very beneficial for driving out massive trends or large breakouts that can turn your authentic triumphing exchange into a huge one.

    6. In-build news avoidance system

    The mt4 trade manager EA has the option to take away your pending/opened orders when a huge information event is approaching. This prevents you from getting wiped out of your alternate due to the fact of the wild volatility.
    You can set custom timings on when to remove your pending and/or market orders earlier than a news event. High/medium/low have an effect on is fetched from forex factory.

    7. In-build stealth & decoy stop loss / take profit levels

    The mt4 trade manager EA is able to conceal your give up loss and take income goals from the broker. It can similarly add a decoy x pips to your quit loss or take income aims to throw your dealer off.
    This is very useful when you experience that you are being b-booked with the aid of your broking or usually note that you get stopped out by means of 1 pip or so.

    When using this feature, you have to maintain your exchange manager EA turned on (meaning your laptop has to be running).

    WHAT MAKES OUR TRADE MANAGER DIFFERENT?

    Built by means of traders, for traders.

    New MT4 Trade Manager EA method:

    1. Use the vertical exchange bars to without problems select your entry, give up loss, take profit, breakeven, partial earnings (up to three levels), trailing stop-loss levels. If you do no longer choose to use any of them, just press the “X” at the pinnacle of the bar.

    2. Define trade helps you effortlessly select how plenty you prefer to hazard on each trade.

    3. Choose whether you desire any superior points such as stealth/decoy stop loss. When done, click on ‘place trade’.

    Done. It can be that simple. You in fact squeezed a 10-minute method into less than 30 seconds.

    This MT4 Trade Manager EA works simply based on the charts you attach it on. It used to be designed to help traders easily define your threat amount (in terms of equity %, lots, or absolute dollars), pick out your entry, your stop loss, and your take profit.

    It additionally has these additional aspects (which we will cover in element later).

    1. Breakeven feature approves you to set the rate stage the place your cease loss would be moved to breakeven.

    2. Partial profits function allows you to set the price level where you would close partial profits (adjustable % of open position).

    3. Trailing quit loss characteristic affords you four extraordinary trailing give up picks to choose from (parabolic SAR, chandelier exit, ordinary trailing stop, step trailing stop).

    4. Stealth end loss function approves you to disguise your cease loss and take income in case you experience that your broker is searching your stops (there are brokers who do this).

    5. Decoy cease loss feature lets in you to set a decoy to your stop loss and take income such that you the MT4 Trade Manager EA would close off your position before TP/SL is hit. This is particularly useful for earnings targets as there are many times you note charge reversing right earlier than it hits your profit target – fishy right? This function permits you to take your profit earlier than that ever happens.

    TRADE MANAGER BASIC SETTINGS

    Learning how to use it right


    • Risk > Fixed Lot allows you to choose a default lot size each time a trade is placed.

    • Risk > Money lets the trade manager auto-reverse calculate your lot size so that it risks the exact amount of money per trade based on your stop-loss distance.

    • Risk > % of equity is the most recommended setting. It lets the trade manager EA reverse calculate the exact lot size so you’re risking the exact (or as close to) the % of equity on a certain trade.

    The settings below are all auto-calculated based on where you place your vertical bars. Honestly, you don’t need to edit any of it except the TP1 and TP2 % of the position you wish to close (default is 50%).

    • Trade > Open simply shows the open price based on the position of the blue bar you used.

    • Trade > SL means your stop loss and it shows your stop-loss price.

    • Trade > TP3 is your dark green bar and also your final take profit where your entire positions (or what is remaining of it) will be closed.

    • Trade > BE is your breakeven price. This is where your stop loss is moved to your entry. The box on the right refers to the pips offset. A value of 1.0 means you will move your stop loss to entry +1.0 pips (good to cover commissions.

    • Trade > TP1 (box on the right) allows you to state how many % of your position you wish to partially close when that level is hit.

    • Trade > TP2 (box on the right) allows you to state how many % of your setup you wish to partially close. This is your second partial profit level.

    • Example: Original trade is 1.0 lot. TP1 of 50% means you close 0.5 lots. TP2 of 50% means you close 50% of the remaining 0.50 lots (hence, 0.25 lots). What you’re left with is 0.25 lots for the final take profit target.

    • Stealth SL/TP means to hide your stop loss and take profit from the broker. When you enable this feature, your trades won’t have any stop loss/take profit. It’s important to ensure your MT4 is always running when you use this feature because if you turn it off, the Ultimate Trade Manager would not work and you would be having a trade with no stop loss/take profit.

    • Decoy SL/TP means you are able to add X pips to your stop loss/take profit to decoy the broker. Example : your buy order stop loss is at 1.0010. If you add 5 pips decoy to it, your stop loss would be at 1.0005 as seen by the broker, but it is actually at 1.0010 (the Ultimate Trade Manager will recognize this).

    • Max Spread feature protects you from being filled on a trade when the spread is too big. For example, you have a pending order on EURUSD. But when the price reaches your entry through a volatile news event, the spread is 20 pips. If your Max Spread setting is at 3 pips, the Ultimate Trade Manager protects you by preventing you from entering into a trade until the spread drops to 3 pips.

    • News (Pending) feature removes your pending order X minutes before a news event and places it back X minutes after a news event. This is useful especially when you don’t want your trades to be affected by high volatile news events.

    • News (Active) feature removes your opened active orders X minutes before a news event so that you don’t get affected by the high volatility news events.

    • In both the news features mentioned above, you can adjust whether you want to be affected by high/medium/low impact news and also whether you want the news events to be displayed on the chart (via a vertical dotted line).

    • Trailing allows you to select which trailing stop loss method you would like to use.

    https://www.youtube.com/watch?v=EbTb...ature=youtu.be

    It is essential to be aware of that it is no longer simply about how a good deal earnings you protect. It is also how tons losses you reduce.

    TRADE MANAGEMENT WITH RESPONSIVE TRADE BARS

    What does every bar mean?

    First, clicking “Buy” or “Sell” would open up 7 bars for you to use. To use the bars, all you have to do is click on the unique bar and drag the line up/down to your preferred level.

    Now, we will go via what each bar stands for:

    BLUE BAR = OPEN PRICE
    • The blue bar is adjusted to where you favor your order to be triggered.
    • If you do not click and pass the blue bar, it will open a market order the second you click “place trade”.
    • If you click on and cross it, then it will execute a pending order the second you click on “place trade”.

    RED BAR = STOP LOSS
    • The crimson bar helps you adjust your give up the loss.
    • It is essential to always repeat the "define alternate & risk" settings each and every time you regulate your cease loss. This will ensure you continually have the right lot size.

    GREEN BAR = FINAL TAKE PROFIT
    • The inexperienced bar helps you modify the place you desire to close your role fully.
    • You will want to place your take profit target earlier than putting your partial profit targets (which is between the entry and closing take profit).

    YELLOW BAR = BREAKEVEN
    • The yellow bar is your breakeven point.
    • What occurs when the rate reaches this stage is your cease loss would be moved to your entry.
    • This genuinely capability if the fee goes again up to your entry and stops you out, you will exit at breakeven (no win no loss).
    • Your breakeven level can solely exist between your entry to your take profit.
    • You can set an automated offset of X pips to cowl your commission.

    PURPLE BAR = IDEA INVALIDATION
    • Now, the thought of notion invalidation is no longer frequent in the market location yet. But it is a crucially essential tool when it comes to trading.
    • Think of it as the “opposite of breakeven”.
    • When the fee reaches this notion invalidation level, your take profit would be moved to your entry.
    • The good judgment at the back of this is simple: When your authentic idea is now not working, it is fantastic to get out as soon as possible.

    WHITE BAR = CANCEL PENDING ORDER
    • The white bar is there to cancel a pending order when the charge passes this level.
    • The cause for this is every so often we are looking to sell on a Fibonacci retracement or extension. But when charge strikes similarly away, this throws all our calculations off.
    • This is a superior feature. It can be disabled if you pick to.

    LIGHT GREEN BAR = PARTIAL PROFIT
    • 2 Partial Profit Targets (with adjustable % to be closed)
    • Always place your Final Take Profit before setting your partial take earnings levels.
    • TP1 = 1st partial earnings target
    • TP2 = 2nd Partial profit target
    • TP3 = 3rd (and final) profit target

    PINK BAR = TRAILING STOP
    • The red bar selects the level at which your trailing stop loss would be activated.
    • Currently we have a few popular trailing give up loss techniques such as Simple, Steps, ATR, Chandelier, and Parabolic Sar.
    • You will be able to adjust the settings of every trailing end loss technique as soon as you pick them below “advanced”.

    Once you are finished selecting all the special levels, it is continually vital to “define your trade”. This step is to help you decide how much you would like to chance on a certain trade. You can select to hazard (only pick out one) :

    1. X dollars
    2. Fixed quantity of lots
    3. Risk percent of your account

    Remember to only go to this step as soon as you are finished selecting all the distinct tiers on the change manager. The cause for this is due to the fact the last step is to constantly reverse calculate the lot measurement primarily based on your threat allocation.

    TRADE MANAGER BASIC SETTINGS

    Learning how to use it right

    • Risk > Fixed Lot permits you to choose a default lot size each time a trade is placed.

    • Risk > Money lets the change manager auto-reverse calculate your lot size so that it dangers the genuine quantity of cash per alternate based totally on your stop-loss distance.

    • Risk > % of equity is the most endorsed setting. It lets the alternate supervisor EA reverse calculate the actual lot size so you’re risking the precise (or as close to) the percent of fairness on a certain trade.

    The settings beneath are all auto-calculated based on where you region your vertical bars. Honestly, you don’t need to edit any of it besides the TP1 and TP2 % of the role you wish to close (default is 50%).

    • Trade > Open definitely suggests the open fee primarily based on the role of the blue bar you used.

    • Trade > SL capability your end loss and it shows your stop-loss price.

    • Trade > TP3 is your darkish green bar and additionally your last take profit the place your entire positions (or what is final of it) will be closed.

    • Trade > BE is your breakeven price. This is the place your stop loss is moved to your entry. The container on the proper refers to the pips offset. A value of 1.0 skill you will cross your quit loss to entry +1.0 pips (good to cover commissions.

    • Trade > TP1 (box on the right) permits you to kingdom how many percent of your role you want to in part shut when that level is hit.

    • Trade > TP2 (box on the right) permits you to kingdom how many % of your setup you desire to partly close. This is your 2d partial income level.

    • Example: Original alternate is 1.0 lot. TP1 of 50% potential you shut 0.5 lots. TP2 of 50% skill you shut 50% of the ultimate 0.50 loads (hence, 0.25 lots). What you’re left with is 0.25 plenty for the last take profit target.

    • Stealth SL/TP capacity to hide your cease loss and take profit from the broker. When you enable this feature, your trades won’t have any cease loss/take profit. It’s important to ensure your MT4 is continually going for walks when you use this characteristic due to the fact if you flip it off, the Ultimate Trade Manager would no longer work and you would be having a alternate with no give up loss/take profit.

    • Decoy SL/TP capability you are able to add X pips to your stop loss/take profit to decoy the broker. Example: your purchase order stop loss is at 1.0010. If you add 5 pips decoy to it, your quit loss would be at 1.0005 as viewed through the broker, however it is absolutely at 1.0010 (the Ultimate Trade Manager will understand this).

    • Max Spread characteristic protects you from being stuffed on a exchange when the unfold is too big. For example, you have a pending order on EURUSD. But when the price reaches your entry thru a volatile news event, the spread is 20 pips. If your Max Spread placing is at three pips, the Ultimate Trade Manager protects you with the aid of stopping you from entering into an alternate till the unfold drops to three pips.

    • News (Pending) feature eliminates your pending order X minutes before a news match and places it lower back X minutes after a news event. This is beneficial specially when you don’t favor your trades to be affected by means of excessive risky news events.

    • News (Active) feature gets rid of your opened active orders X minutes before an information event so that you don’t get affected through the high volatility news events.

    • In each the information features stated above, you can adjust whether you favor to be affected by way of high/medium/low have an impact on news and also whether or not you favor the news occasions to be displayed on the chart (via a vertical dotted line).

    • Trailing allows you to choose which trailing give up loss method you would like to use.

    INSTRUCTION MANUAL

    How to installation this?

    The Ultimate Trade Manager.ex4 has to be placed in your “expert advisor” folder. To do this, open MT4 > File > Open Data Folder

    With the new folder opened, you have to navigate to MQL4 > Experts > paste the Ultimate Trade Manager.ex4 into here.

    Once done, restart your MT4.

    The subsequent factor you have to do is to allow your MT4 to enable specialist advisors. On top of your MT4, there is a button known as “AutoTrading”. Ensure that it is green and now not crimson with the aid of clicking on it.
    After that, you would need to go to tools > options > Expert Advisors and ensure that the two bins proven in the photo are “checked”.

    Once you’re executed with all that, you have to allow “chart shift” so that the Ultimate Trade Manager has space to operate.

    To do that, press F8 > Common > make certain “chart shift” is checked as seen in the image below. Once you enable “chart shift”, this nudges your chart to the left giving you some area on the right for the alternate manager to be at.

    You can alter how an awful lot house you favor on the right via sliding the little arrow left/right as seen in the image below.

    Once you are executed with this step, you have correctly established your Ultimate Trade Manager.

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  2. 7 users say Thank You to janehfree for this useful post.

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