Singapore -- (ReleaseWire) -- 09/11/2012 -- Most forex traders don’t realize how important the act of exiting trades is to their trading; the fact is profits will only increase if winning profits are maximized and losses reduced based on proper risk management. The process of maximizing profits from winning trades and cutting losses from losing trades works against the human psychology and the complications often led to traders failing to act and as a result; they trade ‘away from their plans’. This will lead to traders missing out on profits ‘left on the table’ or exposing themselves to unnecessary risk of losing if they aren’t able to exit according to plan.
Forex Trailer is a trade management software developed by Flagforex for the Metatrader 4. It adds the partial close feature and a multiple of trailing stop strategies to the trading platform. Traders will now enjoy the benefit of exiting trades according to their plan with full automation. Succumbing to emotions and trading ‘away from the plan’ will be fully eliminated as traders can now leverage on the partial close and trailing stop software to plan ahead and execute managed trades all according to plan without emotion interference.
Forex Trailer portfolio of exit strategies includes:
- Partial close
- Date time stop
- Breakeven stop
- N bar high/low trailing stop
- Average true range volatility trailing stop
- Moving average trailing stop
- Parabolic SAR trailing stop
- Equity trailing stop
- Channel trailing stop
- N pip trailing stop
- Bullish / bearish bar trailing stop
- Stop and reverse
Managing a trade with ForexTrailer expert advisor is a straightforward and easy process. After ordering a license, a unique product key will be sent to the trader’s inbox:
1. Perform product key authentication
2. Specify trade order ticket number for existing trade or set mode to auto-catch to track a future incoming order
3. Select an exit strategy
4. Select additional exit strategy for a combination of exit strategies for one managed trade (optional)
5. Trade will now be managed according to the trader’s pre-specified exit plan
ForexTrailer software makes it possible for manual forex traders to save time and plan ahead so that there is no reason to stay in front of their trading desk for hours just to manage an ongoing trade. This chore can simply be performed by this partial close ea on Metatrader 4.
Flagforex is a leader in providing forex trading tools for manual forex traders and investors. Since the launch of ForexTrailer in 2009, the software has been updated 5 times over the 3 year period. A 6th update is currently planned. Besides the partial close ea , Flagforex is also currently working on multiple Metatrader 4 applications such as the trendline trading tool, advanced price action charting and expert advisor reviews.
For more information on this partial close and trailing stop trading tool, visit the url here: http://www.forextrailer.com/