What is it about ?
Prorealtime is a fantastic trading tool but what if you want to execute your trade with more options than just a StopLoss and a TakeProfit, but with BreakEvens, specific TrailingStops, execute partialy your position on target?
Unless you are a savvy coder and have time, you cannot do this;
Now with Trade MANAGER©, everybody can.
- is serious about trading
- wants to get in control of his/her trading with all the options of an advanced tool without coding
- and does not want to spend day and night in front of the screens
IMPORTANT: for specific development please contact us via the support zone;
For which assets?
- Trade MANAGER is universal and works fine on all assets
- IMPORTANT: It needs though to be activated on a 1 minute chart
Why we made these innovations?
Because as traders,
- we absolutely needed a tool that allow us to have some flexibility with our trade plans
- we need to launch sometimes many trades per day to exploit screeners results
- and you want to see them in one place
How does it work?
Here are the steps to launch your Trade MANAGER smoothly:
- Pick your asset from a Screener or from your own lists
- We advise you to set up a Multi Timeframe environment
- Place a 1 minute chart in this Multi Timeframe workspace like hereunder
- Go into the Strategy section on the 1 minute chart
- Select Trade MANAGER and click on “Prepare for Automatic Trading”
- “Edit the code” to put your settings
- Enter your settings accordingly to your Trade plan and click on “Prepare for automatic trading”
- The program is listed in the strategies in pending status and click on “Start”
- Set the maximum contracts that the strategy can launch for protection and click on “Activate the trading system”
- Your order is now waiting to be executed and everything will be executed as schedule
Capital: the amount of money of your account, that will be converted in contracts (mandatory for Money Management option and automatic contract size calculation)
- MoneyManagement = 1 => activates the MoneyManagement (RiskPercent / MinContractSize / MaxContractsize / ContractDecimal) => very much recommanded
- MoneyManagement = 0 => no MoneyManagement
- this is the maximum percentage of your capital that you accept to loose
- if your Capital is 10.000€, 2% of risk per trade means you are risking at maximum 200€
- Good money management set this maximum risk per trade between 0.5% and 2% depending on the configuration of the market
MinContractSize / MaxContractSize:
- allows the calculation of the contractSize when MoneyManagement is activated
- is a protection from a human mistake
- MinContractSize is designed to prevent contract size too small for the current asset (minimal contract size depends of the broker)
ContractDecimal: adjust this number to fit the MoneyManagement and RiskPercent options
(designed for a better accuracy of contract size calculation to fit the maximum loss percentage of the capital. Can also be changed to fit the setting of the allowed size for the current asset (broker limitation)
- select cautiously the number of contracts you will trade
- will work in case of No MoneyManagement activated
- OrderType = 1 => BUY at market
- OrderType = 2 => SELLSHORT at market
- OrderType = 3 => pending BUY
- OrderType = 4 => pending SELLSHORT
- QuitAfterOrder = 1 => you will be exited as the price reaches either the TakeProfit or the StopLoss
- QuitAfterOrder = 0 => ATTENTION: you will be not exited as the price reaches the TakeProfit or the StopLoss and the system will take another order if the conditions are met ;
BuyLongPrice: the price at which your Pending BUY order will be executed (if current price is above the BuyLongPrice, a LIMIT Order will be used, otherwise a STOP Order).
SellShortPrice: the price at which your Pending SELLSHORT order will be executed (if current price is below the SellShortPrice, a LIMIT Order will be used, otherwise a STOP Order).
StopLossPoints: the number of lost points at which the system will exit you (StopLoss are automatically attached to orders in broker orders book).
- StopLossATR = 1 => activates the ATR distance as a StopLoss level when your entry is executed
- StopLossATR = 0 => no activation of this type of StopLoss
- if the StopLossATR is activated, this variable sets a multiple of the ATR to determine the level of the StopLossATR
- if for exemple it is set at 1.5 and the ATR is 100 pips, the distance of the StopLoss vs the Entry will be of 150 pips
TakeProfitPoints: the number of points in gain that will exit you (TakeProfit are automatically attached to orders in broker orders book).
- TakeProfitATR = 1 => activates the ATR distance as a TakeProfit level when your entry is executed
- TakeProfitATR = 0 => no activation of this type of TakeProfit
- if the TakeProfitATR is activated, this variable sets a multiple of the ATR to determine the level of the TakeProfitATR
- if for exemple it is set at 1.5 and the ATR is 100 pips, the distance of the TakeProfitATR vs the Entry will be of 150 pips
- ActiveBreakEven = 1 => activates the Breakeven Stop
- ActiveBreakEven = 0 => no active Breakeven Stop
BreakEvenTrigger: the number of points the price should gain before your first StopLoss is moved to your Entry price (no loss!)
- ActiveTrailing = 1 => active TrailingStop
- ActiveTrailing = 0 => no active TrailingStop
- TrailingType= 1 => TrailingStop based on a distance in points (classic trailing stop)
- TrailingType= 2 => TrailingStop based on the MFE (Maximum Favorable Excursion) -> more suitable for fast-moving markets
TrailingStart: the StopLoss will start trailing when the price will reach this amount of points
TrailingStep: the TrailingStop will move after the price gains this amount of points
- PartialClosure = 1 => activates the PartialClosure
- PartialClosure = 0 => no activation of the PartialClosure
PartialClosureTrigger: number of points gained in order to execute a partial closing of the position
PartialClosurePercent: percentage of the position that will be exited as the trigger is reached