Forex Tool Shed TM Trade Manager

[capsmart]

Hello Pipinvestment,
And thank you for your offer. I downloaded and installed your EA and looks interesting. I like your approach.

[tradingjunky]

For the purpose of sending updates and to see how many traders actually use the tool.

It is also a way to get feed back on the EA and to implement new features as the users request them.

For the people that do sign up at Pipinvestment will receive updated versions just like iDRAW
In the past a new member joins, downloads the product and shares the EA in their chosen Forum. So be it. It's FREE.

please excuse my skeptical brain

[Roboz]

Hi,

I've just tried the demo of Tool Shed on my demo account and it seems to work well

However, just the other week I've purchased Forex Executor Pro after finding a video of Marc using it. I like the idea of a software managing trades once they have been placed but what I don't like about about Forex Executor Pro (ony found out after purchase) is that it can't set any stop losses within the Metatrader Order, so there's a huge pip loss risk in case of power failure etc... With Tool shed however stop losses can be set within the order of Meta Trader which gives extra peace of mind.

I would like to know from people who have used both Tool Shed and Forex Executor Pro should I try to get a refund on Forex Exec Pro or do you think the two software packages can complement each other in different trading situations? I'm very new to Forex so I don't have that much experience in Trading and using either software.

Any ideas and comments would be appreciated.

Thanks,

Rob

[Rune]

HiPipinvestment,

Is there a manual available for the Discipline Trader EA - Free ? I'm unsure about some of the settings - like Time Filter which is currently set to False, but still show the default trading hours 6-17 in the display...

[capsmart]

I watched the Forex executor pro video and what I can say just from this video is:
1. There is a big difference since you can use this tool to open trades while the Shed will manage open trades.
2. The executor pro is something that you will install on your PC since you need it to open trades, the Shed will (logically) be on your VPS and manage the trades discretely.
3. With the executor you do not have the flexibility of different take profits, partially closing trades etc

So if your style is to put pending orders and keep your computer on to manage it the executor pro will be useful.

If you open market orders and need a flexibility to manage the trades (hide stop loss, have a variety of ways to move your trailing stop, partially closing your trades) then the Shed is your tool. It could be run from your PC as well but "his" place is on a VPS.

[Roboz]

Thanks for your point of view, capsmart. I guess I still have to work out what my style is....

Rune, here is the manual, it's hidden away on the website, can't remember anymore where I found it but I downloaded it....

[Rune]

Thanks Roboz,

Misunderstanding, I'm after the Discipline Trader EA - Free manual, I wrote Trade Manager. Sorry - thanks anyway

[marc walton]

Hi Roboz, I thought the forex executor pro was brilliant when it first came out, and the principle of it seemed like a dream come true BUT it had techie problems as mentioned below so it was impossible to rely on it and the support were absolutely useless so I sent it back. I didn't realise I hadn't updated the review, if you let me know where you found it, I will remove it. regards, Marc

[pipinvestment]

HiPipinvestment,

Is there a manual available for the Discipline Trader EA - Free ? I'm unsure about some of the settings - like Time Filter which is currently set to False, but still show the default trading hours 6-17 in the display...

Free: Discipline Trader EA

Basket Profit – Once your equity is greater than the account balance by X, All trades are closed
Basket Loss – Once your equity is less than the account balance by X, All trades are closed
Time Filter – True: Positions can only be opened during Set Hours. Trades will automatically close before and after Set Hours
Time Begin – Hours are based on Broker’s Time: I started to trade at 6 AM . Please choose your Trading Time Zone
Time End – Hours are based on Broker’s Time: I stopped trading at 5pm. Please choose your Trading Time Zone
Total Orders Max – If open positions are greater than X, ALL Trades will close automatically preventing over leveraging
DD – Draw Down amount is based on percentages. If Equity is less than X Percentage of account balance, all trades will close automatically preserving your risk Capital. For example, Only Risk 2% of your Account balance
Suggestions, Comments, Questions? Please place them below!

-- Sorry for not adding these before. Thanks for requesting them. This Tool has saved me in so many different scenarios. but like most of us, We have to experience a problem before we can think of a solution. Enjoy the weekend.

I run this on VPS, therefore I have to trade within my preset Rules, and DD criteria. Live and learn right?

[Roboz]

Hi Roboz, I thought the forex executor pro was brilliant when it first came out, and the principle of it seemed like a dream come true BUT it had techie problems as mentioned below so it was impossible to rely on it and the support were absolutely useless so I sent it back. I didn't realise I hadn't updated the review, if you let me know where you found it, I will remove it. regards, Marc

Hi Marc, the video of you using Forex Executor Pro is in the blog post 'How to use Analysis to place forward orders' Forex Mentor Pro It might be useful to add an update with a link to the ToolShed Trade Manager in this post?

Also had some technical problems with Forex Executor Pro (it installed ok but sometimes it's not syncing properly with orders placed in MT4 so it seems a bit unreliable overall), but the main point for me is that it just seems safer to place a forward order in MT4 (incl. a stop loss) and have Trade Manager take it over automatically rather than place the forward order in Forex Executor (which can't place a stop loss within the MT4 order) to be managed there. Forex Executor has some cool things that Trade Manager doesn't have, such as the OCO function, but this might be very specialised in its application anyway (trading News???).

So Marc, are you using Trade Manager now, or do you manage your trades manually?

Cheers,

Rob