About RiskNtmPro EA
RiskNtmPro is a money management expert advisor for metatrader 4 platform. You can use market buy and sell order, place pending orders and the software can help you to calculate the risk of the position.
You can place order and modify orders with moving stop and take profit line on the chart. With the buttons of the software you can place order or use market order easily, you need just one click and you can enter a position or a close position.
How you can use this software
You can use three lines on the chart to manage your risk. The three lines are the following:
Order Take Profit line: ORTP – If you buy or sell, this line will be the take profit order. You can modify your take profit order by dragging this line up or down on the chart.
Order Stop Loss line: ORSL – If you buy or sell, this line will be the stop loss order. You can modify your stop loss order by dragging this line up or down on the chart.
Place Order line: PlaceORLN – You can use pendig orders with the help of this line. You can modify your pending order by dragging this line up or down on the chart.
Risk management methods
1) Risk value method
The first method is called risk value, which means you need to set up a specific risk amount and the program will try to calculate the position size considering your stop loss level which you set up with ORSL line. If you move the ORSL before opening position, the program will calculate simultaneously the position size, so the loss will be constant if your stop order will be filled.
2) Risk percentage method
With the help of the risk percentage method you can set up a specific percentage of your equity, and the software will try to calculate the position size considering your stop loss level which you can set by moving ORSL line. If you move the ORSL before opening order, the program will calculate the position size simultaneously, so the loss will be constant if your stop order will be filled.
3) Specific Lot method
With the third method you can switch off the risk management algorithm and you can set up a specific position size, so the program will open position in this amount.
Benefits of using FX logger
FXlogger is a metatrader log utilities that can help traders to log trading data. This software is capable of writing user determined parameters of the trade in an excel worksheet and can make a screenshot of the chart while writing further important information such as position size, position type, risk/reward, profit, loss, maximal profit, and so on.
Traders can determine the event when the software should take a snapshot and write the trading data in the database. For instance, you can monitor every position open, close, or stop loss and take profit order placing or modifying.
You can easily learn how to use this software.
You can save a lot of time, because it is not necessary to collect the data of trading manually.
You can easily search and find your older trading data, and you can see not only a spreadsheet but you can see the picture of the chart when you open/close position, modify stop loss, take profit, or pending orders.
The fxlogger saves a lot more information than mt4 history, for instance risk/reward ratio, maximum profit of the positions, drawdown, differences between the price and the price where the order is filled.
With the help of the saved pictures you can optimize your strategy.
You can supervise your broker, you can see easily the slippage, or find out other hidden cost.