C.T.O.N. – Close Trades On
would like to show “must have” pack for all part
time traders – GetPips. It has 2 useful tools inside, CTON – Close Trades On
News device and TrailngBot – that sets Stop Loss and Take profit for manual
trades. Also, Traderbot allows Trailing Stop Loss and move Stop Loss to
BreakEven. Let’s focus on each tool.
It’s easy to control
your trades if you stay next to computer all day long, but quite hard to
come in time for part time traders. Anyway, we found solution and offer useful tool –
This tool can remind you
about NEWS by alert/push notification. You can chose any action –
alert/push or close all/profit trade any minutes before news.
It works with
all orders – manual & EAs. Possible to chose certain orders.
How it exactly works:
#1 Find any free news
source: there are lots of them, even
brokers provide these information.
#2 Check your GMT
OFFSET: set it manually or allow auto time
settings. Anyway, please check it.
#3 Chose action:
get alert/push notification or close orders (profit/all).
#4 Set news time for
all day: use strong ones (up to 3 news).
Time 00:00 means NOT ACTIVE.
#5 Make it more
chose kind of orders to close (all orders or just profit ones), chose which
orders to close (manual orders, EAs orders or both), chose time (change time
for alert before news come), chose pair/or all pairs (allow it to manage all
orders or just on certain pair).
TRAILINGBOT – software device
for auto setup of SL/TP & trailing.
Trailingbot is very useful
device that allow to trader be fast. This is “must have” tool for manual
trading. Once you place an order – it gets Stop Loss and Take Profit levels
that you set in the inputs settings. No need to count it anymore… just put
Stop Loss and Take Profit you want – and enjoy your trading.
It’s very important to set it
fast… If you do it manually, you lose time and sometimes money. For
example, if you place an order while news time – market can move for
hundreds Pips in few second… You won’t be able to set it that fast. This
can bring huge losses in the end. By using TrailingBot – you set Stop Loss
and Take Profit as fast as possible. It makes it automatically.
Few more opportunities in simple
device – Trailing Stop Loss and BreakEven. These options allow you to be
even safer. Trailing Stop Loss allow you to move Stop Loss as soon as you
reach some profit, but still far away from the Take Profit. Trailing SL
allow you to fix profit and protect you from possible trend reversals.
BreakEven works for extra security too. You can set any Pips quantity – once
you reach it, SL moves to noloss position. It helps to fix orders in profit
and allow you to avoid losses on trend reversals.
Simply install it on pair
you trade and open orders like by using standard ways. Very
useful in “one click” mode. This tool will manage all manual
orders, which are without SL/TP. It won’t affect EA’s
trading, cause monitor just manual ones (with magic 0). Here
is simple video with explanations: