We rarely promote forex products and never ones that we haven’t tested but recently Omar was showing me the trade manager he uses for mt4 (metatrader4) he has been using it for the last 6 months and I have to say it blew me away. I am technically hopeless and most trade managers are too complicated for my simple brain, but this thing is incredibly flexible and yet easy to use. Omar tells me it has been 100% reliable thus far and the final part of the puzzle is its not expensive either!
- One click order execution
- Manage up to ten mt4 accounts at once, perfect for testing forex strategies
- Initial profit & move stop loss
- 6 trailing stop types
- stepping stop (can move stop up to 5 times when trailing)!
- multilevel profit taking
- and lots more, its amazingly flexible and here is a screen shot of the dash board:
- If you would like to check out the total specification and features CLICK HERE
Visual Trading Console Multi-Terminal Click On Image to Make it Bigger
Best Trade Manager mt4
Here is Omars detailed review:
In my years of trading forex, I have always gravitated towards testing out and trying new things. Although I am quite happy with the knowledge and tools that I currently use, I am still always hunting for the next best thing. As a tester, I have seen a bit of everything. Everything from manual systems, to EAs, to various auxiliary tools to help the trader. Every once and a while though, something comes along so incredible and amazing, I literally have to share it with people and put my full endorsement.
Today I want to talk about a trade manager for mt4. Sure, we spend most of our time and resources looking for the “perfect system” that gives us the very best entries. But then what??? Fortunes are made and lost on trade management. Even a poor entry and be saved with savvy management and the best entry can turn into a loser (or at least not as big of a win) by a poor approach to managing the trade. But when you get into the world of trade management software, there are usually some major drawbacks:
1) A trade manager for mt4:
usually Doesn’t Allow Independent or Individual Order Management: Meaning you are stuck either only being able to manage 1 trade per pair, OR stuck having ALL order managed the same way. Or this can also mean your precious EA trades will be controlled by your trade manager if you happen to trade your EAs on your manual account (something I personally do). This alone can wreak havoc on your EA trades as it becomes a battle between trade manager and EA management.
2) A Trade Manager for mt4
Doesn’t usually allow Creativity In Order Management: Trade managers give you a few trailing options and that’s about it. Some let you scale out at certain point. Most have a “break-even” feature. But think about doing something exotic like: Move stop -15 pips behind price at +55 pips while taking 15% of the trade off, then move the stop to +15 pips at +75 pips, and then trailing the stop by 25 pips once you reach +110 pips while removing another 25% of the trade at +100 pips, while keeping in mind that if the trade originally goes 80% to your stop loss against you, to adjust new t/p to +10 while removing half the trade at -30 pips drawdown………………….FORGET IT!!!! Not going to happen. That is something you can only do manually right??
3) A Trade Manager for mt4
usually won’t let You Interfere: With the big majority of trade managers, when you manually try to change the trade management, the managers lose the trade. Either that or they negate what you just did (example: you move the stop to +15 pips to protect some gains even though that wasn’t part of the “plan”) by moving the stop back to where it was prior to your intervention. You pull your stop out after a volatile move, and the manager moves it back in without any new movement. ARGGGGG!!!!
So we are usually stuck having to make the trade off between being stuck at our monitors and having great trade management (assuming you are paying attention AND disciplined to stick to the plan), OR leaving our trades in the hands of trade managers to give us very limited management options and hope for the best while we try to live our lives!!
That was until…….. Visual Trading Console Multi-Terminal!!!! WOW!!! This product does everything and more. Go ahead and slash those major drawbacks because they don’t exist with this product. Yes, not only can you creatively manage your trades, each trade can be individually managed independent of all other trades, regardless of pair. You can assign a multitude of strategies to each order. If that wasn’t awesome enoughVTC Mt gives you the power to control ALL of your accounts in ONE PLACE!! You see all your trades in an organized and programmable fashion whether you have 1 account or 10. It is literally the ultimate command and control center for all your trading!!
If you want to know more here is the link to the vendors site. Visual Trader Manage for Mt4 The console has been extremely reliable, I just set and forget and walk away!
If you would like to see the trade manager in action here is a short video I prepared for you, regards, Omar Eltoukhy.
Author: Omar Eltoukhy
Best Trade Manager for Mt4
Looks good Marc, I might give this bad boy a shot.
Don’t be offended, but I’d use the extra money to get a better SEO person.
Hi Omar, Mark & All!
I just wanted to second this post(or is it third??) as I use this tool myself and it is truly a great bit of kit and the vendor/creator is great with support – also of note is that it supports mobile push notifications for all trade manager events so you can be notified when parts of a profile have been activated!
Just thought I’d add that as I imaging it would be nice going into that board room meeting knowing your trade has hit target or at least been moved to break even and you can focus on the task at hand lol!
Hi Paul, thanks for the feedback, hope you are well. Anything else you have used/tested lately? I always valued your reviews, let me know, regards, Marc
Can anyone comment on how this offering stacks up to FX Synergy by Pecunia Systems?
Hi Kent, I havent used the fx synergy trademanager, but looking at the sales page I cant see that there is a great deal of difference, except the big one that it is $400 more expensive!! regards, Marc
I used VTC until a few months ago when I switched to Fx Synergy There’s a HUGE difference between the two products and I’m really surprised you think they are the same. VTC is great for a number of things but FX Synergy can do so much more, plus it has that professional feel to it which very few trading products have these days. I highly recommend that you check it out. Feel fee to contact me and let me know what you think.
Hi Kieran, it wasn’t a case that we were comparing “like for like” more a case of showing an ultra low cost system that is a BIG step up from manually managing trades and is pretty versatile.
Maybe other members will do the same as yourself? ie start off with VTC and them move up to Fx Synergy. They have offered us the opportunity to test drive it so we will post a review once one of us has the time to try it out OR you could always write a “mini review” 🙂 regards, Marc