Trader-On-Chart is a software application that plugs in MetaTrader4 platform to provide traders with some unique features. The software aims to offer important facilities for all MT4 manual traders. Trader-On-Chart can be used in every broker account (ECN, STP or Dealing Desk) and in every financial instrument offered via MetaTrader4 (All Forex currencies, CFDs, Futures, Metals etc). The application is very effective as concerns Money Management Automation. By using Trader-On-Chart you may easily execute trades according to your exact desired risk exposure, lot size etc. Accuracy and fast calculation makes Trader-On-Chart a good choice for day/ intraday traders. The application offers lifetime license and 1-year free updates.
Trader-On-Chart Features/ Advantages
These are the main characteristics of Trader-On-Chart application:
- Provides new features when you execute an order
- Place advanced orders by one click (green and red button).
- Helps traders automate their frequent action regarding order preparation and execution
- Saves precious time when preparing orders and allows traders to focus exclusively in currency analysis
- Provides fast accuracy in calculations -Avoid common trading mistakes on order execution
- Automates money management process (lot size selection, level of risk exposure etc)
- Provides automatic trailing stop placement in multiple pairs at the same time
How the System Works? -Basic Examples
Here are two simple examples of how the Trader-On-Chart application really works:
- Let’s suppose you wish to open a long position on EURUSD worth exactly 2% of your available funds. At the same time you wish to set a target profit of 150 pips and a stop-loss of 50 pips. By using the Trader-On-Chart software you can do all that by filling these 3 numbers and by clicking the ‘Execute’ green button.
- In another example, let’s suppose you wish to open a short position on GBPUSD by risking exactly 1,000USD. Furthermore you wish to set a stop-loss at the previous periodic low, meaning to set a stop-loss at the lowest point of the previous bar. By using the Trader-On-Chart you can do all that in a few clicks.
Trader-On-Chart Technical Features
Here are the technical specifications of this MT4 application.
1) Easy-Install (Auto Detects MetaTrader4 main installation)
2) All broker accounts are supported (ECN, STP, Dealing Desk)
3) Trading both 4/5 digits
4) Lifetime license for one account
5) Free software updates for 1-year
6) Works on every Forex pair and on multiple charts
7) Works also on CFDs, metals and indices given they are provided via MT4
8) Customer Service via web-site and email
MetaTrader4 is an excellent trading platform but it faces some limitations when it comes to fast money management decisions. That is exactly what this application is designed to do Trader-On-Chart may prove considerably useful to all short-term traders (day, intraday and news-traders). What characterizes this app is its ability to control money management with just a click (lot size, stop-loss, take profit, risk exposure etc). Trader-on-chart is compatible with any broker type and can be used in any financial instrument provided in MT4. In overall we consider trader-on-chart as an interesting and useful application for manual trading and we shall be waiting to see future versions too.