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The Forex Trade Manager EA (updated 2023) offers traders a great tool for Risk Management, Smart Entry Methods and Powerful Trade Management when they are away from their trading computer. The EA enables automated position placement using predefined parameters, such as a percentage of the account balance (e.g., 1%) or a fixed amount (e.g., 100 USD), eliminating the need for manual calculation of trade volume. In addition, the EA provides a range of tools for effective trade management, recognizing that proper management can lead to profitability, even from suboptimal entry points.
1. Early exit and take partial profit:
To enhance your trading experience, the EA offers two beneficial options: an early exit and partial profit taking. Firstly, EA shall close your trade if current candle closes above/below a key level price, this is because the price could break out the key level, it would hit your stoploss easily; it is better to close the trade as soon as possible to minimize loss / take some profit instead of waiting for it to be against you further and kiss the stoploss eventually. Secondly, when you are sleeping, this EA will take partial profit (e.g. 50% of trade volume) once price hits a target price or target Reward_Risk Ratio (R:R).
2. Close trade in your ways: Exit a trade timely is one of the most critical factors in accumulation profit for a long run trading. It says, “Trade For Freedom“, we are not always watching price moving to close the trades in a whole day, let Forex Trade Manager EA helps you to do it emotionless, it will close your trades once recent close price is above/below a Moving Average (MA), or MACD crosses up/down, or price is going to revert against your trade.
3. Break-Even (BE): Move stoploss to entry-point is a well-known method that helps traders to have a NO_LOSS Game when price’s moving in good condition, this robust EA provides three BE options to fit in with your strategies. The first method is a regular one that BE will be executed if price moves with a number of defined pips in favor; example, move stoploss to entry point if price moves 20 pips in profit from the entry price. The second method is based on R:R; for example, once trade is with R:R =1 in profit, BE is executed to protect the trade. The last method is based key level price over which it is safe to employ BE.
4. Trailing Stop Loss: Automatically moving stoploss along with price to protect and extend profit as far as possible is a major target of many traders. However, where the stoploss should be is a challenge, a narrow stoploss may make a trade close too soon – no room for price to dance before a big jump while a wide stoploss may cut off your profit if price is against your trades. Understanding this problem, Trade Manager EA is designed with various options to manage trailing stoploss according to the nature of market / traders’ strategies. In many situations, stoploss moving along with Moving Average (MA) line (eg. EMA 50) is a good option to extend profit; while, in a highly volatile market, stoploss should be placed with a multiply of ATR value (e.g., 2.5 ATR). It is a good idea to place stoploss just below/above the lowest/highest wick of 5 recent candles, or stoploss should be 20 pips distance from current price.
Achieving success in trading requires careful risk and trade management, and Forex Trade Manager EA is here to help. While the debate on whether an automated trading bot can make money for you continues, the truth is that with smart direction from you, this EA can bring significant profits or minimize losses while you attend to other life priorities like work, playtime with family and friends, or simply taking a break from the trading desk.
Now, please click Next Page to move to a Setup Entry Parameters which includes your desire trade volume, stoploss and take profit. These paramenters will be saved and reused in onward trades that will help you to place a trade in 15 seconds.
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MT4 Trade Manager EA 