EA Trade Manager MT4 & MT5

That's right, MT5 have a dedicated column for the magic number, but not for MT4 sadly, hence the suggestion.

I've also thought of this solution before posting here but I thought of sharing my suggestion as well. I might stick with this for now.

Thank you for your insights!

I would like to know if TradeManager can implement the same convenient risk management order entry method found in backtesting software.

Hello, QiWang

Thank you for your question.
Unfortunately, this is not possible. Trade Manager MT5 works exclusively under live market conditions and is not an Expert Advisor designed to operate inside the MT5 Strategy Tester or backtesting software.
Trade Manager is a manual trading and Risk management tool for Forex trading, meaning all order entries, stop loss, take profit, and trade management actions are applied in real time on live or demo accounts only.
If you have any questions about how to best use Trade Manager MT5 for live Forex trading or risk management, feel free to let us know


Best regards,

Great, thank you for your explanation. This tool is absolutely essential for my trading style. Thank you for the help.

I have a question regarding the LPO (Last Pending Order) feature.
I have used various order support tools in the past, but I have never seen a function called "LPO" before. Because of this, I'm having trouble visualizing exactly how it operates.
Could you please explain the logic and the movement of this feature? I would like to understand how it works before I start using it in my actual trading.

First, just to clarify the naming: LPO here means Limit Pullback Order, not “Last Pending Order”. It’s not a standard MetaTrader order type, but a trading logic added by Trade Manager MT4 and MT5 to handle pullbacks more intelligently.
In short, LPO is designed for trend trading when you expect a pullback but don’t know how deep it will be.
Normally, with a classic limit order, you have two problems:

1. If you place the limit too far, the pullback may be shallow and your order never triggers.
2. If you place it too close, you often need a wider stop loss or you risk getting stopped out during the pullback.

LPO tries to solve this.

In Trade Manager, when LPO is enabled and you place a limit order, that order does not stay static once price reaches it.

Instead, at the moment the limit would normally be activated, Trade Manager converts it into a stop-type order that keeps a fixed distance from the current price.

If the pullback continues, this stop order follows the price at that defined distance.

When the pullback finishes and price turns back in the direction of the trend, the stop order is triggered. The idea is that you enter closer to the actual end of the pullback, without guessing the exact level in advance.
So conceptually:

1. Limit defines the “area” where the pullback should reach.
2. LPO manages the final entry dynamically during the pullback.
3. The goal is a better average entry and less guesswork.

One important thing to keep in mind: LPO works only with virtual pending orders, and Trade Manager must be running for the logic to work. This is clearly something to understand before using it on a real account.

For a full explanation with examples and exact behavior, I recommend checking the official Trade Manager manual here:
https://www.investsoft.eu/blog/index...ullback_Orders
That section goes into all details and edge cases.

Thank you so much for the detailed explanation!
I now clearly understand that LPO stands for Limit Pullback Order. The logic of following the price during a pullback and triggering only after the trend reverses is very impressive. It’s a much more intelligent approach than a standard limit order, especially for catching the "bottom" of a move without guesswork.
Also, thank you for the heads-up about it being a "Virtual Pending Order" and the requirement for the tool to be running. I will make sure to test it thoroughly on a demo account first to get used to the movement.
I’m really excited to try out this unique feature!

Partial profits without stress in MT4 and MT5 (auto levels or one click manual)

You know this feeling: the trade is in solid profit, you hesitate for a second, the market pulls back, and a big part of your profit disappears.

The solution is simple: partial profits. Close a portion, lock something in, and let the rest run. It sounds basic, but once you make it systematic, it can seriously improve the quality of your trading and take a lot of pressure off your decisions.

That’s why I made a new video showing how to do it in MT4 and MT5 with Trade Manager.
You have two ways to use it:

1. Automatic partial closing
   You set your partial profit levels in advance, define how much to close at each level, and Trade Manager executes it for you.
   This turns profit taking into a repeatable process. No more staring at the chart and guessing when to take something off.
2. Manual partial closing
   If you want full control, you can still reduce positions manually.
   And the cool part is that you can do it not only for a single trade, but also for a whole group of trades. So if you’re running multiple positions or even a grid, you can reduce everything by 50% with one click using Close Part.

If you want to see it on the chart step by step, here is the video.

And if you want all the details and options explained clearly, the manual section is here as well.
Manual section (Partial Closing): https://www.investsoft.eu/blog/index...d_loss_closing

He guys,

Can you explain me how I can use the right pipsize when I fill in a breakeven level or tp? My tp and be are moved to quickly.

Hello, Mattibouwer

Without knowing the exact pip value (and contract specification) of the instrument, it’s difficult to translate pips into exact account currency values

At the moment, Trade Manager MT5 does not allow you to define Break Even or TPactivation directly as a fixed amount in account currency. Everything is based on pips, price distance, or percentage logic
However, there is a workaround :

You can define Break Even or partial actions as a percentage of the distance to the final TP. That means:
1. First read how much your final TP represents in account currency
2. Then determine at what monetary level you want BE to activate
3. Convert that into a percentage of the total distance from entry to TP
4. Set that percentage in the Trade Manager MT5
It requires a small manual calculation, but once set correctly, it works consistently

We are considering adding the option to define these levels directly in account currency in one of the future updates, which would make this much more straightforward

Best Regards,

Got it and thanks for the quick repsonse. Outstanding support and fast response times. This is an essential tool for any serious trader. The feature set is impressive and has significantly improved the quality and consistency of my trading. Keep up the good work team!

How to Buy and Install InvestSoft Trade Manager for MT4 & MT5 (MQL5 Market Step by Step)

Hi traders,
If you're buying from MQL5 Market for the first time and you're not exactly sure how the whole process works, I’ve prepared a step-by-step video that walks you through everything.
The video shows the full process, starting from the purchase on MQL5, all the way to installation and launching the tool inside MetaTrader.
It’s based on the InvestSoft Trade Manager for MT4 and MT5, which is a trading panel and trading tool designed to simplify order placement and risk management directly on the chart.
But it’s not just about clicking “buy”.
Inside the video, you’ll also see:

1. how to correctly connect your MQL5 account to MetaTrader
2. how to install the product directly from the Market
3. how to prepare your platform so everything works properly
4. how to enable Algo Trading and why it’s required
5. what settings need to be checked so the tool can place trades without issues
6. how to launch the trading panel on the chart

So if you’ve ever been unsure how buying via MQL5 Market actually looks in practice, this should make everything clear.
Here’s the full video:

Hi,
I have the Trade Manager for MT4. I like to scalp, as such. I am happy that it has a fast execution upon clicking Buy/Sell.
If the trade reaches a profit level, such as +10 before reaching my target, can I set the trade to have a stop loss of breakeven + some profit amount, for example breakeven +1, or breakeven + 1.5 etc etc?

Hello, markstanleyc

Yes, this is definitely possible with our Trade Manager for MT4 and MT5. You can move your Stop Loss to breakeven plus a small profit.
In your example, if you want the Stop Loss to move to +1 pip after the trade reaches +10 pips, go to the 3rd tab (Break Even) and set:

1. Activate: 10 pips
2. Profit: 1 pip

This means once your trade is 10 pips in profit, the Stop Loss will automatically move to secure 1 pip.
After that, just click the button so it turns green. That means the Automatic Breakeven is active.

Best Regards ,

Thanks for the reply.

That is perfect, exactly what I need.

I have just used that feature in a continuation I spotted in DAX, profit reached 10, the setup BE feature set my chosen 1.1, and it was activated at +10. Thankfully, I ended with my desired +15

This is definitely a helpful tool. I particularly like the execution speed, the EA is easy to use, there are more features than I will use, but, I believe this caters for all traders needs. Todays experience in my trading journal is less stressed, and I sincerely believe the features on offer in Trade Manager will help me

I purchased your trade manager for mt4 some time ago
and am really pleased with the product. However I have to uninstall my mt4, reinstall and open a new account. Does this mean I have to re purchase the trade manager? This will be on the same computer

Hi,
no, you do not need to purchase the Trade Manager MT4 again.
If this is the same computer and there have been no significant hardware changes, you most likely will not even use a new activation. You simply need to install the product again.
The best way is directly through the MT4 terminal:

1. Open MetaTrader 4.
2. Go to Tools → Options → Community.
3. Enter the login and password for the MQL5 account that you used to purchase Trade Manager MT4.
4. Click OK.
5. Open the Market tab in MT4.
6. Open the Purchased section.
7. You should see Trade Manager MT4 in the list.
8. Click Install.

You can also find detailed installation instructions in the Trade Manager User Guide here:
https://www.investsoft.eu/blog/2021/...m_installation

If you have any questions or run into any difficulties, please don't hesitate to ask. We'll be happy to help.

Best Regards,
InvestSoft Team

Thanks for your prompt response. I can now start the battle with my PC to get back to where I was
regards
Pilulae

Good luck with the battle against your PC. I hope everything goes smoothly and you'll be back up and running soon.
Please let us know how it goes and whether you were able to get everything working again.

(Kind reminder)

Hello,

I have a question about the Trade Manager.
How does the breakeven feature work when I have multiple open positions? Does it move the stop loss to the average entry price, or does it manage each position separately?
Thank you.

Celil