ScoutFX Panel is created to make manual trading and decision making process easier for the traders who prefer manual trading. This trading panel will help you to make a market entry decision by displaying the majority of trades statistics. Using this data, trader can easily determine the market entry direction or to make corrections for used trading strategy based on statistics.
ScoutFX Panel notifies the trader about reached percent of sell or buy overtake for each instrument, via voice notification, special symbol displayed on the panel and pop up window with a message about what instrument needs your attention.
Traders panel allows to open market positions or pending orders with one click. Volume of position is regulated in trading settings, it can be set for fixed amount or the use of automated lot volume calculation in relation to the deposit size. Also you can set StopLoss and TakeProfit values in points or to fix the profits by the price of most opened trades accumulation statistics.
Info panel updates each time the price changes, with the distance of current price to the averaged price of opened buy and sell positions.
By using this panel, you can analyze the market situation and perform the market entry actions in few clicks. Scout FX panel offers much more functionality in comparison o the standard MetaTrader 4 panel for market entry. With the help of Scout FX panel you can open following positions with predetermined parameters in one click :
- Market Buy, Sell positions
- pending orders BuyStop, BuyLimit, SellStop, SellLimit. Trading panel will determine what type of pending order to use, in relation to the current price and the averaged price of trader's majority positions.
Full description of the software is available at soft4forex.com
Expected return, growth of balance in a year with reinvestment of the received profit.
Trading instruments, currency pairs used for trading in the presented strategy.
Few trading options exist for the potential losses limitation.
StopLoss - closure of loss making position by predetermined level in percents from the deposit, or in points range. This option is considered the most safe in trading.
Hedging - partial of full overlap of loss making position on account of profits gained with closed positions, in any direction and any traded instrument.
Averaging/breakeven - additional averaging position opening, in the same direction as loss making position. Following closure of all positions taking part in averaging, in total profit. This method is considered one of the most risk involving, with constant growing load of the deposit, in case if the trend is moving against the opened positions.
Martingale - averaging positions opening with exponential lot volume increase, in relation to previous loss position opened in the same direction. This method is considered the most risk involving, but at the same time, one of the most effective as well, if there is no long term trends on the market, such periods known as "flat market". We don't recommend to disregard the risk management recommendations, not to exceed the coefficient to more than 1.5 - 2.
Lock - market position opening on set range in points or in percents from the deposit amount. Lock position is opened in opposite direction from the loss making position, with the same volume, or with the same lot exponent. Volume of the lock position depends of the algorithm of trading strategy, and a purpose of the lock position in this strategy. Lock position can be used to prevent the deposit from drawdowns with trend reversals with following withdrawal in profit.
- StopLoss in points
The minimum amount of security for safe trade with a minimum position volume of 0.01 lot for each instrument used in the trade.
Trading account type - Brokers are offering different account types with different trading conditions. One of them is difference in provided market price feed.
Standard - 4 digits past comma, in format of 1,1234.
Extended - 5 digits past comma, in format of 1,12345.
When determining the range of price movement in points, in analytics, projections and discussions, four digits after comma is taken into account.
Example : price went from 1,20002 to 1,30007, it means that the price change for 100 points(one figure). If to say that the price is in this case went for 1005 points, it will be wrong. As the fifth digit is not a whole point, but one tenth of a point.
- Extended - 5 decimal places (1,12345).
- Standard - 4 decimal places (1.1234).
MetaTrader 4 / 5 is an institutional multi-asset platform offering outstanding trading possibilities and technical analysis tools, as well as enabling the use of automated trading systems (trading robots) and copy trading. MetaTrader 4 / 5 is an all-in-one platform for trading Forex, Stocks and Futures.
- Meta Trader 4