Trade Manager Panel
- Auto Lot Size Calculation
- Options To Risk Set Amount of $ or Account %
- Common Entry & Stop loss Templates – Auto Calculates Prices
- Advanced Trailing Stops, Move to Break Even Options & Straddle Trading Options
- Easy OCO / OCG (Order Cancels Group) Option
- Only Need 1 Panel To Manage All Trades
- Trade Settings Recovery If Computer Crashes / Power Out Scenario
- Risk Protection Checks (For Fat Finger Accidental Extra 0’s)
- Simple Press Buy or Sell Buttons – Executes A Trade Based On Your Settings
- Compatible with MT4 & MT5 (Some Options Not Available For FIFO MT5 Accounts)
- No Computer Limit Restriction (as long as it is for your use only*)
Let Me Introduce You To The Best Trade Manager Panel You’ve Ever Seen For MT5 & MT4
A Little About My Trade Panel…
The Trade Panel is one of my most popular Apps. Traders who use it say that cannot live without it, and to be honest – neither can I.
The ease of use is incredible; Just set up your trade parameters, risk settings and extra optionals (like trailing stops, or move to break even events) – then simply press buy or sell.
Your trade will be executed automatically with all the correct prices and position sizing.
No more calculating lot sizes, figuring out what order type you need, or how to factor in spread into the stop loss price – it’s all done for you when you ask the panel to buy or sell.
The trade panel is built on top of my trade library code (which is very extensive), that I use to back test a lot of Forex strategies. Think of this panel as the “Swiss army knife” for setting up trades… fast!
Although the panel is rich with options, it’s still very intuitive to use. Scroll down to see the features in more detail to determine if it is the panel you’ve been missing all your trading life.
Entry Strategy Options
Pre-programmed into the panel comes with all the commonly used entry techniques needed for most traders.
Stop Loss Options
Select a stop loss calculation method to combo with your entry price. The panel will automatically factor in the spread to your stop loss price.
Simple Risk Settings & Auto Lot Size Calculation
One of the most welcome of all the features, is the ability to setup the trade so it only risks a certain amount of capital you specify. If you only want to risk $100 on a trade, the panel will do the calculations to get the closest lot size possible for a $100 risk.
Just in case you make a silly mistake – like want to risk $90 on a trade, but still have the account percentage method selected ( the panel thinks you want to risk 90% of your account on a trade ), built in are risk protection safety checks to prevent those potential disasters.
You will be prompted with a ‘risk safety check’ like the one shown below…
There are numerous checks like this when it comes to lot sizing and trade risk. Sometimes the panel can’t get a lot size close enough to the risk you want, and you will get prompts for risk adjustments so you’re always in control
Advanced Trailing Stop Loss Options You’ve Always Wanted
The standard MT4/MT5 built-in trailing stop options are very basic. Usually we want trailing stops that are much more dynamic in nature which fit our strategy the best.
That’s why I’ve provided a good list of trailing stop engines to choose from in the Trade panel. Adding a trailing stop to your trade setup is optional.
Automated “Move to Break Even” Stop Loss Options
Trader’s love to lock in profit, and a move to break even feature was highly requested in the initial design.
I implemented 2 “move to break even” triggers:
Note: You can have a break even stop trigger and a trailing stop setup at the same time – they work independently of each other
OCO (Order Cancels Order) Functionality + An Improved Version
A popular technique known in the stock market is an “order cancels order” type of order rule-set (OCO).
You send in 2 pending orders and when one is triggered – the other is automatically canceled.
This type of functionality is missing from MT4/MT5, so the panel has a really easy OCO implementation for you to use.
You simply assign your trades with a group number – once one of the trades triggers in the group, all the other pending orders are canceled.
This is better than the standard OCO setup, because it allows you to put multiple trades in a group, which I call “order cancels group”
Example #1 – Retracement or Breakout
You can set two pending orders on EURUSD with a breakout style entry and the other with an enter on retracement style order. Once one of those are triggered, the other order is removed automatically.
Example #2 – Straddle Type Breakout OCO
Imagine you want to take a breakout but don’t know which direction the market will go. You can set a pending buy and sell at opposite ends of a candle or market structure. Once a breakout occurs in one direction, the other is removed. This is popular with news traders.
Example #3 – Correlated Pairs & Signals Setup
An good example for where multiple pending orders in the same group is applicable is when you need to setup trades on highly correlated pairs – for instance: GBPUSD, GBPJPY, GBPAUD.
You see a price action signal on all 3 of those markets, but only want to be triggered into ONE of them. You Set up all your pending orders on all 3 of those markets with the same group number so it becomes a “whatever symbol triggers first wins” – as soon as one is triggered, the rest are removed.
Even if two pendings are accidentally triggered at the same time due to a volatility spike, the panel will close the unwanted secondary opened trade to enforce you are only left with one position as intended.
Straddle Trading Strategies For Advanced Traders
A straddle trade is a technique where a buy and a sell order are setup at the same time to catch which ever way the market breaks out first.
The straddle strategy options is more niche than the OCO type of setup and is for advanced traders. The total trade risk is divided up into both straddle positions.
When one straddle order is executed, the other is not canceled. It is not removed until the other straddle position reaches a pre-determined profit target
This caters for the scenario such as this: Your buy order is triggered but the sell order is left open. The bullish move fakes out and the market reverses and now triggers your sell order.
If you risked $500, you would be -$250 from the buy order stop out, and the sell trade will be running with $250 risk. It is setup so the panel factored in worse case scenario where all trades fail, you lose close to what you set for your trade risk only.
There are two templates for setting up straddle trades…
Note: Straddle trading cannot be done on an MT5 FIFO account (commonly what MT5 US traders are stuck with).
Trades From Multiple Symbols Are Managed From One Panel
Commonly with other tools, you need to keep a separate instance loaded on every pair that you’re trading with it.
This was something I addressed quickly in the initial design of my panel. I only wanted ONE panel to do all the work.
The first panel loaded becomes the “master panel” and it collects all the orders from every other panel open.
So it doesn’t matter if you have trades running on AUDJPY, GBPUSD, USDCHF, GOLD & S&P500… the master panel will manage all of those orders for you.
This saves you from having a very cluttered, cumbersome workspace, with trade managers loaded all over the place.
It also help reduce load on VPS systems with minimal resources
Automatic Trade Recovery From Power Outs or Computer Crashes
Imagine your toaster shorts out, trips a circuit breaker in your house and your computer loses power!
This is a very important consideration because a lot of tools out there have no recovery system. You got to the trouble of setting up your trades and if there is an “incident” where the panel closes, you might lose all your functionality (like trailing stop management).
The trade panel keeps a record of what it was doing, so if for any reason your panel is closed – it can recover and resume what it was doing on reload.
Warnings When Closing A Master Panel That Is Managing Trades
Another fail safe added in for your protection, just for those accidental clicks.
If you try close a panel which is “busy” babysitting trades, this warning will prevent you from closing it off.
On-going Improvement & Updates
As I mentioned earlier – this is a heavily used tool in the trading community (myself included).
Because I am continuously developing my trade library to accommodate more strategy testing, the panel is occasionally updated with extra options/features/improvements.
Any bugs that are reported are worked on quickly and if MT5 changes we update the panel to keep it working.
I hope this overview gives you an idea of what my Trade Panel can do!
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