Trade Manager Pro 8.0
Metatrader (MT4/MT5) Expert Advisor
The Trade Manager Pro EA is a visual trade planel that helps you to place and manage trades easily, avoiding human errors and enhancing your trading activity. It combines an easy to use visual interface with a sound risk and position management approach.
- Amazingly easy to use
- Trade easily from the chart
- Trade with precise risk management
- Capital preservation is top priority
- Let profits run without your attention
- Enjoy risk-free trades as soon as possible
- Automatic trailing-stops for all opened trades
- Initial stop-losses are placed as soon as trades are taken
The EA performs the following tasks after you've taken a trade:
- The initial stop-loss/take-profit is automatically placed
- It locks into a free-ride as soon as possible (optional)
- It moves the stop-loss to break-even for the first time (optional)
- It trails the stop-loss using your desired method until stopped out
Other cool features are:
- Great terminal activity reporting
- Precise risk management for each trade
- A single and yet powerful trailing-stop method
- A clean and on-chart interface
- It has no input parameters
Increase your trading returns with a sound position management approach, just like hundreds of customers have already done.
Why is position management so important?
Get two professional traders in a room a random day of the week. Tell one to buy the EUR/USD, and tell the other one to short it. Chances are that both of them will close their trade in a profit, or at least avoid losing by closing their trades partially at the right time.
Now bring in two inexperienced traders, and again have each of them take opposite sides of a trade. Both will probably close their positions in a loss. Why might this happen, you ask? What do the pros know that the rest of the herd does not? And how can you emulate their success?
The answer is in a proper exit. This idea - that the exit of any trade is always more important than its entry - is a fairly widespread notion, but one that seems to be unknown among most retail traders. Ask an inexperienced trader why they got into a trade, and you'll probably be met with an answer: "The Euro area is in deep trouble, so I went short", or "The Australian dollar just hit a support area, so I went long".
Novice traders are always looking for proper entries, normally in the form of "magic-no-loss buy/sell signal indicators", while disciplined and professional traders are constantly looking for proper exits and have capital preservation constantly in mind.
But nobody seems to think about the exit strategy of a trade before actually taking it! As you can imagine, this leads to forming bad habits such as letting fear and greed infect your trading. It causes you to let losers run hoping the trade will turn around, and to cut your profitable trades early, out of fear that you will lose a small amount of hard-earned profit. And this is exactly the opposite of what you should be doing!
Every trade must be managed in virtue of the following priorities:
- Capital preservation is top priority
- Cut your losses fast
- Let your profits run
- It places the initial stop-loss and take-profit orders.
- Get a free-ride as soon as possible and assure capital preservation. By default, this is accomplished by closing 50% of the trade when the Break-Even point is reached, which is 5 pips by default. This means that if you get stopped out in the future you will have lost nothing. (optional)
- The trailing-stop starts operating after the break-even is performed.
- It trails the stop-loss until stopped out, letting profits run.
The PZ Trade Manager Pro applies a flawless position management to your trades without your attention, eliminating room for human errors and assuring your profits are allowed to run. Only by using it without interference will improve your trading results by the mile.
Why is the PZ Trade Manager Pro useful?
The PZ Trade Manager Pro applies a flawless position management to your trades without your attention, eliminating room for human errors and emotional mistakes. Capital preservation is top priority and profits are allowed to run as far as they go.
You can, literally, have hundreds of trades opened without having to manage them yourself. Your trading productivity and spare time increases dramatically. No more squinting at charts all day!
What happens once I've taken a trade?
This is what the EA does once you've taken a trade:
- ? FAQ
- Can I enter trades without take-profit?
- Yes, you can. Set the "Take Profit" input to zero and the TP order will not be placed.
- Can I disable the break-even?
- Yes, you can. Set the "Break-Even" input to zero and the feature is disabled. Please note that the partial closing will not be functional either, as it uses the "Break Even" input to operate.
- Can I completely disable the partial closing of trades?
- Yes, of course. Set the "Partial Close" input to zero and the feature is disabled.
- How does the trailing-stop work?
- The trailing stop is expressed as a percentage of the profits of the trade being managed. For example, with a 25% Trailing-Stop value, the actual trailing stop will be 25 pips when the trade is 100 pips in profit, but 250 pips when the trade is 1,000 pips in profit. This allows the profits to run and the trailing-stop remain proportional to the trade profit.
- What is the trailing-step?
- The trailing step is the minimum increase for the stop-loss to be trailed. It is there to avoid updating trades every single tick. A trailing-stop of 5 pips, for instance, instructs the EA to increase the stop-loss in steps of 5 pips, minimum.
- Do I need an VPS to run the Trade Manager Pro EA?
- You need a computer turned on 24 hours a day. It can be your home computer or a VPS.