Wicks Trade Panel

Forex trading is a dynamic and complex domain that requires the right tools for effective and efficient management. One such tool that has been making waves among serious traders is the Wicks Trade Panel. This review aims to delve into the features, functions, and effectiveness of this platform, focusing on forex order management and risk management strategies.

Understanding Wicks Trade Panel

The Wicks Trade Panel is developed with the needs of serious traders in mind. It is particularly beneficial for those who monitor key events such as the Consumer Price Index (CPI), Non-Farm Payrolls (NFP), and Automatic Data Processing (ADP). The platform offers a unique, faster methodology for setting the Entry Price by merely hovering the mouse pointer over it. This attribute significantly increases trading efficiency and is highly appreciated by its users.

Order and Risk Management Features

One of the remarkable features of the Wicks Trade Panel is its ability to automatically close 50% of the order size lots when Breakeven Status is set to TRUE. This function is especially handy when trading during significant economic events like CPI, NFP, and ADP. This trade panel is designed to facilitate efficient forex order management and risk management, which are crucial aspects of successful forex trading.

Wicks UpDown Target: A Perfect Match

The Wicks Trade Panel is perfectly complemented by the Wicks UpDown Target, which is designed to handle the choppy movement up and down on the opening range every day. The UpDown Target is recommended for trading breakouts during the London and New York sessions.

Guidelines for Using Wicks Trade Panel

The Wicks Trade Panel comes with a step-by-step entry strategy guide. The first step involves identifying the formation of a breakout, preferably during the London or New York sessions. The next step is to initiate the breakout and execute your trading plan. The third step requires partially closing your order and setting it to breakeven, thereby mitigating risk. After reaching your target, you need to avoid trading in the Stop Hunting Area. The final remark suggests waiting for the price to breakout and setting your Take Profit (TP) using the Wicks Up Target Line or Wicks Down Target Line displayed on the chart.

Software Input Parameters

The Wicks Trade Panel offers a range of input parameters that can be customised according to individual trading strategies. These include EA Name, Lots Size, Breakeven ON/OFF, Breakeven Begin in Points, Closing Percentage when hit Breakeven Status, Slippage, Magic Number, and Double Confirmation Pop-Up. Other parameters include settings for Profit & Close, Pending Orders, Profit Lock, Trailing Stop, and Profit/Loss Label with a choice of six color schemes.

FAQ

1. How does the Wicks Trade Panel improve trading efficiency?

The Wicks Trade Panel improves trading efficiency by offering a faster technique to set the Entry Price and the ability to automatically close 50% of the order size lots when Breakeven Status is set to TRUE.

2. Can the Wicks Trade Panel be customized according to individual trading strategies?

Yes, the Wicks Trade Panel offers a range of input parameters that can be customized according to individual trading strategies, including EA Name, Lots Size, Breakeven ON/OFF, and more.

3. What is the Wicks UpDown Target?

The Wicks UpDown Target is a tool designed to handle the choppy movement up and down on the opening range every day. It is recommended for trading breakouts during the London and New York sessions.

Independent testing of the Wicks Trade Panel is available on forexroboteasy.com, where you can also subscribe for updates on the results of testing this product. We invite you to share your experience with this product, whether positive or negative, and contribute to a more informed trading community.

Disclaimer: This is an independent product review and is intended to provide a neutral evaluation of the Wicks Trade Panel. The views expressed in this review are based on product descriptions, user feedback, and independent testing.