TheRumpledOne wrote:Jalarupa What is that in the upper right hand corner? Buy/Sell buttons?
Where did you get that??
That is currently the most cutting edge and complete Trade Management Panel for FX on MT4
The Buy and Sell buttons are self explanatory, but it also does Stop and Limit Order placement at the touch of a button (using the Horizontal Line tool - If you recall Blubbs script, but this is only better, WAY Better) as well as calculates the lot size relative to stop placement... It also has move stop to BE / 2 /5 10 or (user specified) and on the flip slide Close trade 25% / 33% / 50% / or Completely... (great for scaling out on the fly)
Stealth Mode (hides pending orders, take profit and stops from broker's and US traders can setup, OCO, stop reverse trades and a sort of pseudo hedge scenario) and Presets for Trailing stop and Scaling in as well as partial closes can also be set before your trade...
This however this is just the front facing ascetic function that sends order, tick and market information to the back end trade management system, which allows one click trading simultaneously across unlimited multiple MT4 accounts that connect directly at broker level (with customizable variable risk and account mandates - Which is great for EA's), Multiple accounts currently only support MT4 but Ctrader and Ninja Trader support is coming in May as well as Jforex and Trade Station in July/August.
There is also a breakout/limit News Trader Tool, that is unlike anything I have seen to date in this package that could do quiet a bit of damage on multiple currency pairs if it is setup correctly.
The system is called FX SYNERGY (<<--LINK) and as far as I can tell the company developing it are really committed to creating a tool that not only streamlines order execution, alerts, reporting and trade management but behaves like your own customizable EA.
If anyone chooses to purchase the product, I would appreciate it if you would give the referral to me, as I have been in close contact with the developers of this tool over the past 10 months and have built a good relationship with them thus far, I would love to show them that I appreciate their work by sending business to them.
There are a number of features on the app that are directly attributed to requests I issued personally to their development lead.
Some to watch out for however is a (stop loss style) scale out feature for all those who trade space, as well as a scale in stop loss adjustment feature that auto drops the stop to preserve account risk mandates when scaling in, that way your can keep your mandated risk, but get more bang for your buck... These two as well as diagonal line alerts, price levels dashboard and news release data have been requested and will be in a future update.
I know I wrote a lot about this tool, but I use it everyday in my personal capacity as a professional trader and just get blown away each time a new update gets released.
On a side note this tool allows for EA like signal sharing, and I am wanting to put together a list of full time professional traders who own this tool and wish to share trade data amongst themselves in their own variegated degrees of risk, and in doing so create somewhat of a international team of traders, trading together 24 hours a day, this could add alpha, as well as diversification to anyone's FX portfolio. Especially with some of the talent floating around on this and other forums... So PM me if you are interested in this hedge fund idea and it is something that you would like to get involved in and contribute towards - The system support magic numbers, so each trader would get a magic number so that their trades can be identified and styles risk adjusted to.
It is also very easy and self explanatory to setup your own fund with this tool and manage multiple client accounts seamlessly (which is what I currently use it for)...
Anyway that's enough about that... check it out, you can demo it for two weeks and I'm sure after that you will want to own it... There is nothing like it on the market, it is currently used by Broker's (hence Ctrader support), Hedge Funds and professional retail traders worldwide... And it keeps getting better each release!