Forex Trading Online – Trade Manager EA – Trade 4
Forex Trading made simple with the Trade Manager:
The next video in this series which is all about how to use the Trade Manager EA, just one of the tools included with VIP membership at ElectroFX.com. This video provides an example of a very simple type of trade which happens at this mornings European open. The types of Money Management included within the Trade Manager EA are now introduced and for the sake of clarity are are also included right now just below.
Trade Manager EA Money Management:
0. Fixed lotsize (LotSize)
Simply means that the EA will use whatever you enter for the “LotSize”
1. Fixed fraction of Balance (RiskFactor)
The LotSize will be overridden and calculated automatically. RiskFactor Ã— Account Balance ÷ 1000 is the easy way to explain it. If you choose a Setting of 5% for your RiskFactor, then if your account was $2000 it would trade 0.1lot. The 5% setting is the same as saying 0.1lot traded per $2000, and will scale accordingly.
3. Fraction of Balance with SL
The LotSize will be overridden and calculated automatically. Your Stop Loss on the trade will be used to calculate LotSize. If you choose 2% as the RiskFactor then based on your Stop Loss, the EA will risk 2% of your Account.
What is WavEFX?
WavEFX is a timeless yet organic charting style that has been developed to clean up what is messy on lower timeframe candlestick charts. An entire video course has been put together to explain WavEFX and is beyond the scope of this video. If you wish to learn more please visit our website just below.
What is the Trade Manager EA?
The Trade Manager EA (TM) is a tool for MetaTrader 4 (MT4) that is included with VIP membership at ElectroFX.com. The TM provides you with a safe and easy way to trade in a set and forget fashion without starting at the screen all day.
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