How to auto calculate FOREX risk, entry and stop settings with just one click

In this video I want to show you how to open a trade in the MetaTrader Platform and have all the trade parameters already preset for you, risking 2% on the trade in this example.

***** Video Transcript *****

Hello everybody, it’s Rimantas Petrauskas.

In this video I want to show you how to open a trade in the MetaTrader Platform and have all the trade parameters already preset for you, risking 2% on the trade in this example.

So normally it would take a few minutes for everyone to calculate the right values for stop loss and lot size according to your account size if you wanted to risk a certain percentage on the trade. But with this tool I’m going to show you called Trader On Chart, you’ll be able to enter trades very quickly. I’m sure many of you already know about it, but I just wanted to show it in action.

So to risk let’s say 2% we just choose risk percentage here–we entered 2% here for this example. Then let’s say we will risk 15 pips based on the latest swing low here and let’s say we will want our trade to have a take profit and stop loss ratio of 2. This means the take profit level will be two times bigger than the stop loss. So if you hit the take profit on the trade you will earn twice what you risked.

Okay, so now we’re going to go ahead and click the Buy button and you can see it basically happens in under a second. Everything is so fast. So what we have right now is a lot size of 13.31.

Let’s face it, it would be too difficult for anyone to just take these numbers and calculate them in real time as the trade is setting up. It’s totally possible and not that hard to do but I just wanted to show you that with the help of such a trading tool like Trader On Chart you can have this done for you automatically in just under a second and just with one click. So basically, if your future trades need to have the same stop loss and take profits levels and the same risk, you can just set this one time and then in the future just click the sell or buy button and all the trades will be calculated automatically for you and then executed perfectly.

Okay so I would like to show you the sell option too and let’s say we will risk now about 35 pips. So that will be the latest swing high. So we will enter 35 and let’s leave everything else like it is and what is cool about this is that Trader On Chart has this “Allow Hedge” option and normally it is set to yes. So this means if I would hit the sell button now it will open an additional sell trade to go short, and it will leave the currently open buy trade. This might not be what you may want to use normally. So if you want to set this at no, this means that Trader On Chart will NOT allow hedging trades. So no matter what trade you have opened it will close all opposite trades of the same currency pair if you enter a new trade in the opposite direction. Note that 3rd party trades are left untouched and Trader On Chart manage only the trades opened by itself.

So I’m about to go Short right now and this means that the Trader On Chart will close all buy trades that it has on the account. So let’s see how that works. You can see it’s really really fast. You could think that it is probably me editing the video, but no, it’s really that fast. It actually also depends on the broker you’re using. Some brokers are faster than others. So let’s see, we have a buy trade closed and the sell trade opened immediately and we have a lot size of 5.7 and again the app made the calculations immediately in a fraction of a second. It’s as easy as just clicking a button to buy or sell.

So I hope you enjoyed this short video on how to risk a certain percentage on each trade and have the trade opened easily with a single click.

Please like and share if this video was helpful to you, and tell me what you think in the comments below!

I’ll see you in the next videos. Bye.

Click here to get the Trader On Chart full version.

About the author

Rimantas Petrauskas

First I am a father, a husband and then the author of the book “How to Start Your Own Forex Signals Service”. I am also a Forex trader, a programmer, an entrepreneur, and the founder of ea-coder.com Forex blog. I have created two of the most popular trade copiers and other trading tools for MT4 that are already used world wide by hundreds of currency traders.

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