Using the form on this page you can instantly download the free forex trade manager robot which is an extremely useful trading tool that will automatically manage all of your trades for you. It has been developed to be used in the MetaTrader 4 trading platform (mt4).
This forex robot will easily manage all trades that you place for you whilst you have it running on the currency pair charts of pairs that you would like it to manage. All you need to do is attach it to the charts that you are trading and it will manage all existing or new orders placed on that chart. It can work on any currency pair or timeframe.
The forex trade manager settings are fully customizable and you can adjust them to suite your money management strategy. The forex trade manager is a great way to ensure that you use consistent money management on all trades and saves lots of time as it will automatically place stop loss and take profit levels to ensure you get the best possible price levels. It will also manage your open trades using an optional break even and trailing stop. These features are great to ensure that you lock in profits early and do not let your winners turn into losers but instead let them run for maximum profits from each trade.
Money management is the most important aspect of a successful trader so use this forex trade manager robot to make sure that you have good money management on all of your orders. It is recommended to use a risk to reward ratio of at least 1:1 so that a loss is equal to a win. This way you will need slightly greater than a 50% win rate to make profit. Even better, you can use a risk to reward ratio of 1:2 which means that your winning trades will be double your losing trades so you could have a win rate much less than 50% yet still make lots of profit!
Free Forex Trade Manager Robot Settings
- Stop Loss – Stop Loss distance from entry.
- Take Profit – Take Profit target.
- Break Even – Distance in profit when the stop loss is moved to the entry price.
- Trailing Gap – Trail price by this distance once break-even point is reached.
- Close Percent – Percentage of the trade to close once break even distance is reached.
- Min Lot Close – The minimum amount of lots once reached the break-even will stop closing a percentage of the trade.