The trade manager mechanism is now composed of two trade manager layers, which enables true automated multi-terminal trade management.
This article will explain the various trade manager components and their use in automatic trade management.
Trade manager profiles are the foundation of automatic trade management. They encapsulate various trade manager settings such as the initial SL & TP, trailing & stepping stop, break even parameters plus profit & loss scaling.
Each profile can be assigned to various tickets (trades), thus enabling independent settings for every order. The Trade Manager Profile Editor is used to create, modify and save user defined profiles under different profile names, which can later be used to manage various trades. Profiles can be assigned manually or automatically to different trades. This article will focus on automatic profile assignment based on user defined criteria – this is where the Trade Manager Logic comes in to action.
The Trade Manager Logic tab is used to assign individual trade manager profiles (assigned using the Trade manager profile name drop down list) to various trades using a mix of the the following settings:
- Traded symbol name (or “*” for all symbol names)
- Metatrader account number on which the trade is placed ( or “-1″ for all account numbers )
- Trade’s magic number (“0” is used for manual trades without a magic number, “-1″ is used to define ALL magic numbers)
- The trade’s direction (Long or Short)
Information is entered as criteria records into the Trade Manager Logic database. Records can be added, edited or deleted:
In the example above, all trading done on the 327983 account number will NOT be managed.
Trade Manager Logic can be tested by entering trade parameters and pressing the [Test] button.
This will display an alert window informing the user about the name of the trade manager profile that will be used to manage this particular trade:
The last step is to activate the automatic trade manager and instruct it to utilize the Trade Manager Logic layer for Trade Manager Profile assignment.
This is done by selecting “>> Use Trade Manager Logic <<” from the list on the bottom tool bar of VTC and enabling automatic trade management:
At this point every new trade made will first be checked by the Trade Manager Logic module and will be assigned the appropriate Trade Manager Profile to perform the defined trade management functions.