An Automated Trade Manager is a tool that allows traders to automate their trading tasks. It helps to reduce the stress that most traders experience when executing a trade. Traders typically obsess about where to enter the market, the size of the position, and when to exit. While no one can control the direction of the market, it is possible to eliminate much of the stress by knowing how much risk they’re taking before entering a trade. Automated trade managers can also help traders manage their positions once they’re in the market.
BlackBird Trade Manager
If you’re considering integrating BlackBird into your trading software, you may be wondering how the system handles orders. This feature is found in the Control Center, Options, Strategies tab. By default, BlackBird submits orders in the direction of the last historical trade, but you can disable this strategy to prevent the system from submitting orders.
The BlackBird algorithm is capable of calculating and managing risk for each trade. It also uses stop-loss trailing and pre-trade contract scaling to maximize profit and reduce risk. As an added benefit, it can also adjust order types and profit targets automatically, thereby reducing the need for manual trading.
Metatrader 4
Automated Trade Manager for Metatrader4 is a software tool that automates the trading process. It has a number of useful features, including automatic entry and exit of trades. It also allows you to submit market orders and pending orders. The interface of the tool is very simple and clear, and it displays the program’s function.
The Trade Manager keeps track of all the pending orders in the system and deletes them when the trader activates a pending order. You can also specify a maximum deviation for the price of each order.
Features
Automated Trade Manager features let you set profit targets, stop-loss orders, and a range of other settings to make trading easier and more efficient. These options allow you to scale out your positions and trade at the optimal level in different market conditions. By eliminating the need for manual trading, you can spend more time focusing on the markets. The software also offers numerous customizable strategy templates and settings, and you can save your favorite settings and configurations for future use.
Automated Trade Manager features allow you to set the number of ticks to trail before closing. The program also offers over twelve custom trailing stops. The Trade Manager also offers to BREAK EVEN functionality. You can set a number greater than breakeven to move the live trade to breakeven+1 or any other positive number.
