Order Manager MT4/MT5

An all-inclusive tool, this Order Manager is made to improve trading on the MT4 and MT5 platforms. The Risk Calculator and the Order Manager make up the two main parts of this solution. Every component is designed to cater to the unique needs of traders, simplifying the trade management process and reducing potential hazards.

Risk Calculator: Simplifying Risk Management

One essential tool that lets traders determine lot sizes and risk percentages right inside the MetaTrader terminal is the Risk Calculator. For traders who want to make well-informed decisions without having to deal with the headache of manual calculations, this functionality is crucial.

Why Use the Risk Calculator?

Because of the inherent volatility and unpredictability of trading markets, risk management is essential. It can be laborious and time-consuming to calculate lot sizes using the conventional method, which involves pip counting to a stop loss and using external tools. By offering a rapid and precise way to assess risk and lot size, the Risk Calculator helps to reduce these difficulties by reducing the likelihood of account blowouts and improving attention to trade entry points.

How It Works

Within the MetaTrader, a user-friendly interface powers the Risk Calculator. Traders can see the risk in terms of currency and lot size on their terminal by simply clicking on the “Buy Calc” or “Sell Calc” after entering their desired risk percentage or ratio. The procedure provides flexibility in trade management by supporting pending orders, both present and future.

Recommendations

• Trade Organization: To improve oversight, arrange trades according to pairs or symbols.
• Trade Closure Based on Percentage: Use pre-established or personalized percentages to close trades.
• Complete Trade Closure: If necessary, close every trade at once.
• This free forex EA should be run 24/5 on a VPS (Reliable and Trusted FOREX VPS – FXVM).
• low spread ECN account is also advised (Find the Perfect Broker For You Here).