QB TradeManager for MT4 Documentation
The QB-TradeManager software for MetaTrader 4 was created to ease the work of traders working on capital markets using the MetaTrader4 platform. In order to make it easy to use, features have been divided into multiple windows.
The program is divided into 3 parts:
- One part that treats instant orders
- Another part that treats pending orders
- And finally one part that treats the risk assessment
This section comprises features for working with instant orders (market).
Inside this section, we will use the words “trade”, “order”, “market order” interchangeably.
This section is divided in 3 parts: opening trades, modifying trades, closing trades.
1.1 Trades : Open
Trades Open is used, as the name says, to instantly open trades in the market (Instant Execution). The advantage of the interface is that after setting the desired criteria, the trades can be open with one click.
The window is divided into 3 zones that are marked in the picture below:
From area 1 can be selected the symbol that we wish to open the order on, but also the volume.
The available symbols are the ones in Market Watch , so if you want to see a certain symbol in the symbol selection field, it has to be added in the Market
Watch window of the MetaTrader.
The spread is taken from the platform.
Also in area 1 you can see the two buttons, Buy and Sell, that open the order in one click.
The command to Buy or Sell must be executed only after you checked that all specified parameters are correct.
After pressing any of the buttons you will receive a message that announces you the success or the error, if any.
Area 2 is destined for setting the money management parameters, like the Stop Loss and Take Profit levels, as well as the lot size. Each parameter that is to be calculated has to have a checkmark in the front.
Setting up the lot size can be done in multiple ways. One if these is to establish a percentage from the Balance or Equity or choosing an amount of money so that the margin corresponding to the calculated lot won’t exceed the specified amount.
Setting up the Stop Loss
The Stop Loss level can be calculated as a percentage from the Balance or Equity, or in money but also in pints.
Setting up the Risk Reward
By choosing a value for this one the Take Profit will be automatically calculated by multiplying the Stop Loss with the specified value.
Setting up the Take Profit
Can be done the same way as for the Stop Loss.
There are two more buttons visible in area 2 : Calculate Values and Auto Calculate.
Calculate Values calculates instantly the values of the Stop Loss, Take Profit and volume if the user desired this by checking the box in the font of these options. This button is useful when Auto Calculate is Off.
When Auto Calculate is on , the Stop Loss and Take Profit are being updated each second.
This area is used to display the prices where are the Stop Loss and Take Profit levels, but also these levels in points. If Auto Calculate is off, then these fields are available for manual editing.
1.2 Trades : Modify
The Trades Modify interface is used to alter the Stop Loss and Take Profit levels for existing market orders.
The interface is divided in 5 areas that are framed in rectangles and numbered.
Area 1 displays open trades.
Area 2 is complementary to area 1. This area will display the symbol, the price, the profit, the swap, the time, the type and the volume, the parameters defining the open trade.
Within area 3 the user can set manually the Stop Loss and Take Profit. These fields will be automatically filled in the case that Move SL or Move TP from are 4 are checked.
Within area 4 the user can set the Stop Loss and Take Profit the same way as in the Open Trades – Open interface.
In area 5 we can move the Stop Loss at the breakeven point with a single click, just by pushing the button.
After all desired changes are input, press Execute. Upon pushing Execute, you will get a message that will inform you if the modification of the open trade was made successfully or there was an error that appeared.
1.3 Trades : Close
Trades Close is used to close any market order.
The interface is divided in 4 areas.
Area 1 displays the open trades. You have to select the trade you wish to close.
Area 2 gives data about the trade (symbol, price, profit, swap, time, type, volume).
Area 3 includes two execution buttons, Close and Close and Reverse. Using the Close button the position is closed for the selected volume. Close and Reverse will fully close the position and then reopen it in the opposite direction, keeping the initial volume.
Area 4 gives the possibility of a mass order closure, by selecting one of the available options within the list to the right of the “Close Trades” button.
2. Working Orders
This section is also divided into 3 sections and comprises features for working with the pending orders.
Inside this section we will use words “order”, ”pending order”, ”working order” interchangeably.
2.1 Working Orders : Open
The Orders Open window is used to open orders and is divided in two areas.
Area 1 is for manually setting the specific parameters of the order, and also for opening the order buy pushing the Place Order button
Area 2 is for setting the money management parameters used to calculate the size of the lot, the stop loss and take profit , which are displayed in their corresponding fields from area 1.
These values are automatically calculated after the user sets a value in the edit field, when selecting other values in the drop-down lists from area 2, but also when the Symbol and Type from area 1 are changed.
The order is placed in the market by pushing the Place Order button from area 1; then the user receives a message telling if the order was launched or not.
2.2 Working Orders : Modify
The Working Orders Modify window is for modifying pending orders and is divided in 3 areas.
Area 1 contains the order ticket list , where we have to select the order which we want to modify.
Area 2 contains identification data for the order, but also here we can modify some of the parameters.
Area 3 is used for the calculation of Stop Loss and Take Profit.
When all parameters are set, the user has to press Modify Order in area 2 ; the user will receive a confirmation message.
2.3 Working Orders : Delete
The Working Orders Delete interface is used for deleting orders. The windows is divided in 3 areas.
Area 1 is used to select which order we want to delete.
Area 2 contains the order parameters, but also the Delete Order Button.
Area 3 features allow the user to massively delete pending orders – on all the instruments or on a specific instrument.
After pressing the Delete Order button the user will get a confirmation message.
3. Risk Info
The Risk Info interface has to show the risk, in money or in percentages for market orders or working (pending) orders.
The window is divided in 3 areas.
In area 1 we can select what we wish to see in area 3, therefore we can select the Trades, Orders or All.
In area 2 we select the calculation mode for the margin, risk and target, either as Percent or in Money.
In area 3 we see the orders and/or positions according to the settings in areas 1 and 2.