Use this free trade manager EA

I am putting this free trade manager EA out there to help protect your trading account.

It came to my attention recently that many traders are trading a "basket system" of trades and often without a set stoploss. If individual SL settings are allowed to pile up, sometimes the total losses from the many different pairs being traded can put the account at risk of a margin call.

Similarly, some traders may want to close all their open trades once the profit level of the trades reaches a certain amount.

This one works for both situations

I wrote this EA to handle both the maximum allowable loss on your account, as well as closing the trades once a profit target is reached.

The file below is a zipped .mq4 type file which allows you to see the code of the program once you unzip it. To use it, you will need to compile it using the MetaEditor program built into MT4.

Once compiled, place the compiled (.ex4) file into the "experts" sub-folder of your MetaTrader program folder.

If you are having trouble getting this file working, send me a note from the "About the Author" page and I will send you further instructions.

Attach to one chart only

The free trade manager EA needs to only be attached to one of the charts on your trading platform. From there it can control all trades for all the different pairs you are trading.

This is a global manager and will close all open trades once either the profit level or the loss level is reached. If you are not sure what this means, please try it on a demo account first.

Download Link

To download the file place your mouse pointer over the link free trade manager EA and then right-click and save the file to your computer where you can find it later. Once you have the file, use windows to unzip it and place it into the "experts" folder and compile it.

Feel free to share this file with others, but please leave the copyright information in place in the file itself.

I hope you find this EA to be helpful.

Thank you.