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The Trade Manager MT5 emerged as a significant tool for forex traders in 2020. This software is designed to elevate your forex trading by providing a fully automated trade management system. This review will delve into the functionality, features, and benefits of using the Trade Manager MT5.
Automated Trade Management
One of the standout features of the Trade Manager MT5 is its automated trade management system. This feature is designed to detect your manually opened trades and manage their stops based on the FX Trend trend line. This allows traders to browse through all time frames without affecting their orders. The software manages trades based on the fixed calculation settings set in the Trade Manager properties.
Expert Advisor Integration
Trade Manager MT5 is not only for manual trades. It also has a unique feature that allows it to detect and manage orders opened by an external Expert Advisor. By setting the right EA Magic Number, traders can manage these EA orders according to their personal trend trading style. This feature enhances the versatility of the software, making it suitable for a wide range of trading strategies.
Security and Notification Features
Trade Manager MT5 comes with a security stop loss for counter-trend trades and an optional breakeven stop loss. It also allows traders to set a take profit point. Additionally, the software offers notification options for some trade operations, ensuring that traders are always in the loop about their trading activities.
Flexibility Across Trading Symbols and Charts
Trade Manager MT5 is flexible and adaptable. It runs on all kinds of trading symbols, including Forex, shares, commodities, bonds, and more. Moreover, it is compatible with all kinds of offline charts, such as Renko and range bar charts. This makes it a versatile tool for forex traders with diverse trading portfolios.
The software allows traders to customize various settings. These include selecting the time frame for the trend line calculation, choosing the number of periods for the trend line calculation, and setting the deviation parameter for the trend line calculation. Traders can also set their profit target and secure stop loss in full pips based on the order’s open price.
Can Trade Manager MT5 manage orders opened by an external Expert Advisor?
Yes, Trade Manager MT5 can detect and manage orders opened by an external Expert Advisor. You just need to set the right EA Magic Number to manage these orders.
Does Trade Manager MT5 offer notifications for trade operations?
Yes, Trade Manager MT5 offers notification options for some trade operations.
Can I use Trade Manager MT5 with different trading symbols and charts?
Yes, Trade Manager MT5 runs on all kinds of trading symbols and is compatible with all kinds of offline charts.
For those interested in seeing the Trade Manager MT5 in action, independent testing of this product can be viewed on the forexroboteasy.com website. Users can also subscribe to updates on the results of testing this product. Readers are invited to share their experiences of using this product. This is an independent review, and the Trade Manager MT5 is not affiliated with the author or this publication.
What truly sets Trade Manager MT5 apart, in my opinion, is its exceptional ability to manage trailing stop and stop loss levels. This feature has been instrumental in safeguarding my investments from potential losses. It provides an extra layer of security that gives me peace of mind, knowing that my trades are protected even when I'm not actively monitoring them.But it doesn't stop there. Trade Manager MT5 has also significantly maximized my profits. It's advanced and intelligent algorithms are designed to optimize trading strategies, ensuring that I get the most out of every trade. The software continuously analyzes market trends and adjusts my trading strategy accordingly. This has resulted in a noticeable increase in my profits, which has been a pleasant surprise.In conclusion, my experience with Trade Manager MT5 has been nothing short of fantastic. It's a powerful tool that has enhanced my forex trading experience. It's easy to use, manages my trades effectively, and has significantly boosted my profits. I would highly recommend it to anyone looking to take their forex trading to the next level.
Firstly, I believe the inclusion of a profit count in pips displayed prominently on the screen would be a valuable addition. This feature would provide a real-time snapshot of trading performance, allowing for more informed decision-making and strategy adjustments. It would be particularly useful during high volatility periods, where rapid changes can significantly impact profits.Secondly, I suggest the introduction of a Take Profit (TP) feature calculated as a percentage of the stop loss. This would allow for a more dynamic and flexible risk management approach. By tying the TP to the stop loss, traders could automatically adjust their profit targets based on their risk tolerance, potentially leading to more consistent returns.Lastly, the software could benefit from a more streamlined and user-friendly interface. While the current design is functional, a more intuitive layout could make the software more accessible to new users and improve the overall user experience. A small interface that highlights the most important information and functions could be a game-changer, making trading more efficient and less time-consuming.In conclusion, while Trade Manager MT5 is already a powerful tool for forex trading, these suggested enhancements could take its functionality to the next level. By incorporating a profit count in pips, a percentage-based TP feature, and a more user-friendly interface, the software could become an even more indispensable tool for traders of all experience levels.