A VERY SERIOUS WARNING!
This tool is intended for experienced traders. In wrong hands, it can blow an account VERY QUICKLY.
If you are new to trading, DON'T USE THIS TOOL ON YOUR LIVE ACCOUNT!
Even if you consider yourself very experienced, please use this tool with great care, and follow the philosophy described few lines below.
MarginTrader is a tool for traders, risking (relatively) small money for big potential gains.
Philosophy of margin level trading:
- Use a reliable broker offering:
- high leverage (1:200 - 1:500),
- low trading costs (ECN preferred),
- fast and accurate execution,
- (optionally) negative balance protection,
- a client cabinet with instant internal transfers between accounts.
- Keep your entire risk capital in a wallet/purse (if provided), or in a dedicated 'deposit' account which you MUST NOT trade (!).
- Transfer just a small fraction of your capital (I recommend 5-10%) to a separate 'trading' account running MarginTrader.
- Margin call (stop-out) is your risk limit, just as you would use a stop loss in a bigger account.
- Set margin limit before entry according to your strategy.
- If you lose, nevermind! - reload, rethink and try again.
- Hold on to gains and let them run!
- Grab your profits and PUT THEM BACK INTO THE WALLET.
The real trick lies in exposing very small capital to the market. From psychological perspective, it's much easier to manage. You can't wipe out thousands of $$$ if the market decides to move against you - you just lose a few bucks, reload, rethink and try again! If you catch a good trade from time to time, and put at least a major portion of gains back to the wallet, you should be fine - the basic premise of MarginTrader is adding to a winning position, utilizing free margin, created by a winning trade. With this approach, it's possible to produce exponential growth!
Perhaps you'll find it's much easier to control your trades (and yourself) trading this way, just as I do in my own trading.
You can trade any market and any timeframe with MarginTrader - but if you're an intraday/short timeframe trader, you want to trade markets giving the best volatility/cost ratio:
Index = Average Daily Range / ( Spread + Commission [in points] )
You can use this indy to analyze your broker's offering - look for symbols with highest index:
Note: If you don't run other EAs or manual trades on your account, there's no need to change any inputs. All important settings are done with buttons and lines on the chart.
- Close all trades on balance change?
- If true, any trade closure (either manual or caused by margin stop-out) will close all remaining trades immediately.
- If false, closing any trade will not affect other trades running (default).
- Manage only own trades?
- If true, only trades with preset magic number will be managed.
- If false, all open trades in current symbol will be managed (default).
- Disable MT4 OneClick Trading panel?
- Self-explanatory I think default is true.
- Self-explanatory I think default is true.
- Force OnTick() instead of OnTimer()
- Use false in real trading (default).
- Use true in strategy tester, or if a false setting makes any trouble (very rare case with some mediocre brokers)
- Your magic number:
- Set a magic number different from magic number(s) used by other experts.
How to use the tool:
Note: Although you can attach MarginTrader to as many charts and symbols as you like, you can only trade in one chart at a time.
MarginTrader is very easy to use. Please refer to screenshots below for detailed instructions:
Your display device must have at least 768 pixels vertical resolution to display the control panel of MarginTrader properly. Most of modern laptops and monitors have much higher resolution, however, many notebooks still use 1366x768px screens - in fact, it's the most popular display resolution in use nowadays. If you don't see the panel entirely or distorted, please increase the height of your chart by closing the Terminal subwindow (Ctrl+T) - you don't need it as you have all balance, equity and P/L information displayed in the panel. You can also disable the Status Bar and/or enter fullscreen mode (F11) to enlarge the chart vertically.
Windows UI & font setting:
If some graphical UI elements don't display properly, please set the DPI in Windows display properties to 100%.
To get the bar timer in the lower right corner displayed in "digital" style (as shown below), please download and install the "clock_font" package below.
- eradicate some bugs (working on it along with Mic_FX, updated version coming soon),
- make some hints about how I'm using it with supply / demand zones,
- merge MarginTrader into my supply & demand framework EA called 'Alpha',
- converting the whole thing into MQL5, making it multi-symbol (don't know yet how to approach the naturally singular margin level and limit, but I'll find a solution anyhow )
To all forex-SJWs, forex policemen and likes:
Everything I'm posting and will post is (and will be) TOTALLY FREE, you don't have to spend your energy on suspicions, I will always post sources whenever I decide to release new code.
To all thread followers:
I'm a really busy person, and trading is just my (very passionate) hobby. Don't be negatively surprised if I don't reply to your posts / PMs immediately. I'm NOT living here in FF, but I'll try my best in replying to your requests, and making this great little tool even better