CheatcodeFX Trade Manager
Your profit management companion. Especially perfect when you have a VPS or a dedicated machine setup. Apply it on the pairs that you care about and walk away. I personally applied it to the 28 main pairs that I often watch on a dedicated mini pc and do the trade execution on another device. With this supporting you in the background, trade with confidence know this will help move you to breakeven and take the best out of your trade.
CheatcodeFX Trade Managers works on any symbols.
You can't test this using Strategy Tester. Go to https://www.mql5.com/en/market/product/57115 for our demo.
Main features
- algorithmically follow market conditions
- moves SL to breakeven with the option to close partials
- breakeven close partial by percentage or fixed lot size
- trails market progression maximising returns
- trailing in progressive Fractal/MA
Knowledge Levels
Level Category Description 1 Fundamental
- basic knowledge
- no prior experience
2 Novice
- has some experience
3 Intermediate
- ability to apply knowledge
- able to visualise market intentions
4 Advance
- able to generate trade ideas
- ability to articulate trading concepts
5 Expert
- in depth understanding
- consistent
- high level of competency
Assumptions of User
- level 3 understanding of market conditions
- level 3 understanding of market structure
- level 2-3 understanding of supply and demand, support and resistance
- level 3-4 understanding of proper risk management
How to use CheatcodeFX@Trade Manager
Step 1: Load It Up, Adjust your parameters
Step 2: Select Trail Type
Step 3: Select Close Type
Step 4: You are done
Tips:
- Have your VPS or dedicated pc push notification or orders to you via what ever meets your purpose.
- This will let you know when an order is in breakeven and/or when an order Stop Loss trailed based on market conditions.
Parameters Explained
fractalTimeFrame
- Time frame used for Moving Average strategy
- This is only active when Trail Type is set to "Fractal"
fractalGap
- The min amount (in points) between the fractal value and Bid/Ask before a fractal is considered a valid value
- SL will not move if the range is smaller than the min amount of points set here
- This is allow market to move or potential spikes before it expands again
- This is only active when Trail Type is set to "Fractal"
maTimeFrame
- Time frame used for Moving Average strategy
- This is only active when Trail Type is set to "MA"
maGap
- T he min amount (in points) between the MAvalue and Bid/Ask before a fractal is considered a valid value
- SL will not move if the range is smaller than the min amount of points set here
- This is allow market to move or potential spikes before it expands again
- This is only active when Trail Type is set to "MA"
closePartialPoint Amount of point from order open price in the profitable direction before triggering move to breakeven breakevenPoint
Amount of point to move the SL above/below the order open price to cover for spread or commission Trail Type
- FRACTAL
- MA
Close Type
- Closure type for breakeven, values here will determine the amount to close out of the market when breakeven is triggered, bagging some profits.
- PERCENTAGE - Percentage of the size of the total order lot
- LOT - Fixed lot size
Breakeven Close Partial %
- If Close Type is set to PERCENTAGE, this value is used
- Determine the percentage to close out when breakeven is triggered (0.01 = 1% , 1.00 = 100%)
Breakeven Close Partial Lot
- If Close Type is set to LOT, this value is used
- Determin the lot size to close out when breakeven is triggered
Breather Point
- This value is to provide some room for the trail, it applies to any type of trail
- For example:
- if valid trail value in the BUY direction is 1.12300 and the breather point is set to 100, this will move the SL To 1.12200 to allow for the padding
- if valid trail value in the SELL direction is 1.12300 and the breather point is set to 100, this will move the SL To 1.12400 to allow for the padding
Caution
- Please allow some time to do a self assessment based on the metrics above.
- If you fall under the assumed group of trader, great. This will supplement your day to day trading.
- If you DO NOT fall in that group, proceed with caution. Specifically if you don't have adequate understanding about risk management, proceed with caution.
- This tool is to maximise your profits AFTER you've planned and executed your order
