Every forex trader knows that the exit strategy is the key to success. However, do all traders have such a strategy?

95% of traders do not use it because of such common emotions in trading as fear and greed.

Without a clear plan for closing a position (when to take profit, when to exit, and when to wait) you should not count on a stable profit.

Given the importance of money management and transactions, we have 3 options for action:

You can choose one of the described options if you have enough time and money for research, development and testing.

But if you are looking for a quick and effective solution, then it is in front of you.

All product features are listed below.

• Manage By Magic Number – the Expert Advisor manages transactions with the same magic number. Using different magic numbers on different charts allows the Expert Advisor to manage trades opened by other Expert Advisors and scripts. The default value is set by me. You can change it at your discretion.
• Manage By Trade Comment – The Expert Advisor manages transactions that have the same comment as the trading robot.
• Manage By Ticket Number – the Expert Advisor manages one transaction that has a certain value in the “Order” column of the trading terminal.
• Manage This Pair Only – the Expert Advisor manages all trades on the chart on which it is installed. You can use this option with one of the previous three for greater accuracy when monitoring a group of transactions. Don’t try to use it with more than one of the previous options, as the EA simply won’t work.
• Manage All Trades – be careful with this option. When it is enabled, the EA will take control of all open trades, canceling everything that you entered in the previous settings. Set this parameter to true only if none of your open trades requires special attention.
• Manage Specified Pairs – The Expert Advisor manages the pairs specified in the PairsToManage input parameter. You can edit the list of currency pairs.

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• Set initial Take Profit and Stop Loss – stop loss and take profit are set immediately after opening a position. Thus, even if you forgot to set a stop loss, it will be set automatically.
• Last Bar Stop Loss – the stop loss is set to the minimum or maximum value of the last bar.
• Last Swing Stop Loss – the stop loss is set at the level of the last minimum or maximum swing immediately after the opening of a buy or sell transaction.
• Stop Loss To Break Even – the stop loss level is transferred to the breakeven point as soon as the price passes a certain number of points in a profitable direction.
• RSI Based Stop Loss – this parameter can be used in different ways. For example, you can set it so that a buy or sell transaction closes when the price is below or above 50. The RSI is used in different ways, and you can configure all the parameters to use the indicator when closing positions. It can also be used in combination with other stop loss and take profit features.
• MACD Based Stop Loss – The MACD oscillator is used by many traders. You can use the MACD to close positions when the price drops below or rises above zero. All necessary parameters are available in the Expert Advisor.
• Time based Stop Loss – the duration of the transaction in minutes or hours from the moment of opening. After the specified time, the transaction is closed.
• Partial Close – partial closure (the number is unlimited). For example, the EA can close 10% of the lot size as soon as the price passes 10 pips, 40% – when the price reaches 40 pips, and so on.
• Time Based Stop Loss – the transaction is closed after the specified time.

• Simple trailing (normal)
• Parabolic trailing (based on Parablic)
• ATRStop trailing (based on ATRStop)
• X Bars Back trailing (return to X bars)
• Fractal based trailing (based on fractals)
• Bollinger Bands trailing (based on Bollinger bands)
• Moving Average trailing (based on the moving average)
• Donchian Channel trailing (based on Donchian Channel)

• Account level Drawdown (in Percentages) – all orders are closed as soon as the cumulative profit or loss reaches the set drawdown value or maximum profit (in percentages or any base currency offered by your broker).
• Account level Take Profit (in Percentages) – all orders are closed as soon as the total profit or loss reaches the set value (in percentages or any base currency offered by your broker).
• Basket level Stop loss (in Dollar terms) – all orders that meet your selection criteria are monitored. All orders are closed as soon as the cumulative loss reaches a certain value in dollars (or any other base currency offered by your broker).
• Basket level Take Profit (in Dollar terms) – all orders that meet your selection criteria are monitored. All orders are closed as soon as the total profit reaches a certain value in dollars.
• UseTimeFilter – the adviser’s working/non-working hours.
• Reverse Trade – opening a position in the opposite direction when a stop loss is reached. The position is opened in the same size and with the same settings.
• Alert – a message about the beginning of closing positions.
• Mail – an email that is sent after the successful closing of all positions.
• Mobile – sending push notifications to mobile terminals whose MetaQuotes IDs are indicated on the Notifications tab.

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