This Order Manager is a comprehensive tool designed to enhance the trading experience on the MT4 and MT5 platforms. This solution is divided into two core components: the Risk Calculator and the Order Manager. Each element is crafted to address traders’ specific challenges, streamlining the process of managing trades and mitigating risks.

Risk Calculator: Simplifying Risk Management

The Risk Calculator is a pivotal feature that allows traders to calculate risk percentages and lot sizes directly within the MetaTrader terminal. This functionality is essential for traders aiming to make informed decisions without the hassle of manual calculations.

Why Use the Risk Calculator?

Trading markets are inherently volatile and unpredictable, making risk management crucial. The traditional method of calculating lot sizes—a process involving pip counting to a stop loss and using external tools for calculation—can be cumbersome and time-consuming. The Risk Calculator mitigates these challenges by providing a quick and accurate means to determine risk and lot size, thereby preventing account blowouts and enhancing focus on trade entry points.

How It Works

The Risk Calculator operates through a user-friendly interface within the MetaTrader. Traders enter their desired risk percentage or ratio, and with a simple click on the “Buy Calc” or “Sell Calc,” they can visualize the risk in terms of currency and lot size on their terminal. The process supports both immediate and future pending orders, offering flexibility in trade management.

Key Features

• Cash Risk Entry: Define the cash amount to risk in any currency.
• Percentage Risk Entry: Set a specific risk percentage per trade.
• One-Click Trade Execution: Confirm the calculated risk and lot size with a single click to execute the trade.
• Pending Orders: Calculate and set risks for future trades before they are triggered.
• One Click Trade Management: Enables partial trade closure, automatic stop loss adjustment to break even, and customized trade closure options.

Order Manager: Streamlining Trade Management

The Order Manager component provides a robust framework for organizing and managing trades efficiently and precisely.

Key Features

• Trade Organization: Sort trades by pairs/symbols for better oversight.
• Percentage-Based Trade Closure: Utilize preset or custom percentages for closing trades.
• Comprehensive Trade Closure: Close all trades simultaneously if needed.
• Multiple Take Profit Zones: Set and manage various take profit points.
• Auto and Manual Breakeven: Adjust the stop loss to breakeven points automatically or manually.
• Partial Take Profit and Trailing Stop Loss: Secure profits and manage risk dynamically.

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Account Exposure and Statistics

A vital part of trading is managing overall account exposure. The Order Manager introduces an account exposure feature that provides a quick view of market exposure by risk percentage and helps manage total account risk effectively. Additionally, the statistics feature offers a detailed analysis of trading performance, including net profit, gross profit/loss, profit factor, and total trades, which is particularly beneficial for tracking progress in proprietary firm funding challenges.

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Conclusion

The Order Manager MT4/MT5 represents a significant advancement in trading tools for the MetaTrader platform. Integrating risk calculation and order management into a single, intuitive interface offers traders a powerful means to manage their trades more effectively and efficiently. Whether dealing with the uncertainties of the market or striving for optimal trade execution, the Risk Calculator provides the necessary tools to navigate the complexities of trading with confidence and precision.