INVESTSOFT

The Forex Trade Manager is a software application that assists trading on the Forex market on the MetaTrader 4 and MetaTrader 5 platforms. With this tool, you can place orders quickly and easily thanks to a transparent and easy-to-use trading panel. The opening price, stop loss and take profit can be set by dragging lines on the chart. The program displays the necessary calculations above each line, such as the distance of SL and TP in pips from the opening price, the value in the account currency or the Risk Reward Ratio.

Furthermore, you can easily and quickly modify an existing order, either by using lines on the chart or by changing parameters in the panel dedicated to the selected order.

The Forex Trade Manager is capable of working not only with currency pairs, but also with all types of symbols that are accessible on the MT4 or MT5 platform, including but not limited to indices, CFDs, metals, futures, cryptocurrencies.

It is a useful tool for traders of all experience levels who want to improve their Forex performance. It doesn't matter what trading strategy you use, whether forex scalping, position trading or price action. This tool is universal and adapts to any trading style. Additionally, traders participating in the Prop Firm Challenge can use Trade Manager to better manage risk and increase their chances of passing the challenge.

Forex Auto Break-Even

The Forex Trade Manager MT4 & MT5 offers a multitude of features for effectively managing your open trades, enabling you to significantly reduce your time and avoid spending countless hours in front of the charts.

One of the fundamental management functions is the automatic Break Even. You set the BE activation level for each order as the distance in pips from the opening price or as a percentage of the distance to take profit or as a risk reward or price. The EA will move your Stop Loss to Break-Even as soon as the current price reaches the designated level.

In the Break Even settings, you can also set an SL offset from the opening price after the move to cover any commission, swap, or slippage costs.

Depending on the strategy you use in Forex trading, it is sometimes needed to move your Stop Loss to the break-even point or above it more than once.

When the price goes in the direction you expect and starts making profits, you usually move the Stop Loss to the break-even level so that, in the worst case, you can exit the transaction at zero without reducing the size of our deposit. However, when the price continues to follow our expectations and approaches the Take Profit you have set, it would be a good idea to move the Stop Loss to the next level again, protecting a significant part of the profit already earned. If the price returns from around our Take Profit, you will exit this transaction with a profit.

In Forex Trade Manager, such a task can be performed by the multi-level break even function and you can set up to 4 different Break-Even levels.

Forex Partial Closing

You can use the partial closing option in Forex Trade Manager, which allows you to secure part of your profits or limit your losses. This option is useful when the price does not reach our target, but turns back earlier and closes the transaction on Break-Even or at a loss.

In Trade Manager, you can set up to 4 partial close levels, specifying how many lots or percentage of the total trade should be closed at each level. These levels can be specified as distance in pips, percentage of distance to TP, risk reward, or price. You can also set your trade to be partially closed at a loss by using a trade exit strategy when the price moves in the opposite direction.