Exit strategy is the key to success in the Forex market. However, few traders pay attention to it. This leads to losses. Without a normal plan to exit the market, you can not count on a stable profit. Given the importance of money and transaction management, we have two alternatives:
You can make a choice based on your funds and the time you are willing to spend on testing. If you are looking for an effective and fast solution, then it is here.
- Automated trailing stops for each open trade.
- Trailing stop allows you to lock in profits, even if you are not around.
- The most important thing is the protection of capital.
- By default, the FX Trade Manager sets the stop loss immediately after the trade is completed. This way, you don’t have to worry about drawdown.
- The features of the FX Trade Manager are listed in the screenshots (in English).
- The FX Trade Manager settings are grouped into four sections:
Sections:
I General
II Initial stop loss/take profit settings
III Changing and closing orders
IV Trailing stop methods
1. Select_Manage: 4 options.
- Disable (disable)
- This Pair Only)
- All Pairs (all pairs)
- Specific Pairs (some pairs)
2. Select_Manage_Order
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- All (all orders)
- By Magic Number (by Magic Number)
- By Comment (by comment)
- By Ticket (by ticket)
- By Magic