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Feature of Order Risk Panel Pro
Order Risk Panel Pro is the order execution tool designed with many powerful features. They are available in both Meta Trader 4 and Meta Trader 5 platform. The tool was mainly developed to support efficient order execution and risk management for traders. Order Risk Panel Pro can strictly control your risk according to your balance. You can even execute your order visually from your chart. Therefore, you can save a lot of time and efforts with our Order Risk Panel Pro. Order Risk Panel Pro can set some claver trading setup like straddle in one button click during high volatile News period. If you were the Price Action trader, this would be advantageous feature for you. Order Risk Panel Pro offer a smart trail stop functionality too. For example, your order can be monitored and stop loss can be readjusted when your trade is in profit. Besides its order execution features, Order Risk Panel Pro can report you the essential trading performance useful for your daily and monthly trading operations. With our Order Risk Panel Pro, you can compare your trading performance across different currency pairs. You can increase the position size for winning currency pairs and you can decrease the position size for losing currency pairs. You can use our Order Risk Panel Pro to trade like the professional institutional trader.
Setting up Order Risk Panel Pro in your Chart
Order Risk Panel Pro is the built-in Expert Advisor. Therefore, you need to put the Order Risk Panel Pro Expert file to your Meta Traer terminal folder.
Once you have put the file in your expert advisor folder, you will see the Order Risk Panel from your Expert Advisor list in your Navigator. If you do not see it, then please refresh your Navigator.
To use Order Risk Panel Pro, you have to allow auto trading in the Options window. To allow auto trading, firstly open Option menu from your Meta Trader terminal (Tools>>Options>>Expert Advisors) and Tick on Allow automated trading.
Now you can attach Order Risk Panel Pro to your chart. When you attach Order Risk Panel Pro to your chart, click on common tab. Tick on Allow live trading here too.
Visual Order Execution Techniques
If you see the smiley face in your chart, then you are ok to use Order Risk Panel Pro. Order Risk Panel Pro can send order in various ways. We will explain the visual Order execution techniques with our Order Risk Panel Pro. You can access to the visual order execution techniques by pressing “Line Buy” or “Line Sell”. For example, when you click “Line Buy” button, Order Risk Panel Pro will draw one green line and one red line in your chart. With green line, you can control take profit size for buy order. With red line, you can control stop loss size for buy order. You will see that your take profit and stop loss size are automatically change as you move the green line and red line in your chart. When you press “Line Buy” button again, then it will delete green and red line from your chart.
Likewise, to setup sell order visually, you can just press “Line Sell” button. Then Order Risk Panel Pro will draw green and red line in your chart. You can move this green line to control your take profit size for sell order. You can move this red line to control your stop loss size for sell order. When you move these green and red lines in your chart, your take profit and stop loss size will automatically adjust them according to the current bid and ask price.
To apply this visual order technique in the real trading, consider the bearish harmonic pattern for an example. With the visual order execution technique, all you have to do is just move the green and red lines to the desired take profit and stop level in your charts around the harmonic pattern. The visual order execution technique will make your life simple. At the same time, you can always execute your orders with classic ways. For example, you can just type take profit and stop loss in pips in the text box in your chart to send orders. Which way you do, Order Risk Panel Pro will calculate exact lot size for your risk preference to protect your capital from volatile market movement.
Straddle Order Execution Guide
Straddle is an order execution technique for breakout trading. With straddle setup, traders will set both buy stop and sell stop at the same time in expecting that price will breakout in one direction. With Order Risk Panel Pro, you can do this quite simply in just one button click. Moving your mouse over the “Straddle” button will show you your take profit and stop loss levels in advance for your buy and sell stop order. Since there are many lines, first time user might feel difficult to figure out what all these lines are. Simply speaking, three lines are for open, take price and stop loss of the buy stop order and the other three lines are for open, take price and stop loss for the sell stop order. Straddle spreads are the distance between the buy and sell stop orders in pips. Overall, this type of trading style is quite useful during the release of quite important fundamental news. To setup straddle, just click the “Straddle” button. If you want to remove theses stop orders at any time, then just hit on “Delete Orders” button. “Delete Orders” button will delete any pending orders sent by Order Risk Panel Pro.
Know your Trading Performance to improve your trading
Order Risk Panel Pro can show you the list of trading performance measurement for your trading. When you are a professional trader either working for yourself or for a company, it is important to measure the trading performance at least every month. With Order Risk Panel Pro, you can measure your trading performance for any symbol or for all symbols if you wish. To calculate your trading performance for a symbol, just type the name of the symbol in the text box. For example, type “EURUSD” in the text box to calculate the trading statistics for EURUSD. When you want to know which currency pairs you are trading best, Order Risk Panel Pro can deliver the trading performance in just one button click. With this feature, you can reduce the position of the worst performing symbols and you can increase the position of the best performing symbols.
With our Order Risk Panel Pro, you have an access to the intuitional level of intelligence for your trading. For example, Order Risk Panel Pro can calculate monthly and annual Sharpe Ratio with the current Risk Free Rate in your country. Sharpe ratio is very important trading performance measurement for traders and fund managers. Likewise, you can incorporate the Risk Free rate to the Calmar ratio too. Risk free rate is simply the annual interest rate in your country for saving account. However, if you have not received any formal training and you are not sure how to use Sharpe and Calmar ratio, then just set Risk Free Rate = 0% for safe side. You can still use Sharpe Ratio and Calmar Ratio with 0% Risk Free Rate to know the trading performance. If you wish to dig deeper on your trading performance and trading statistics, then you are more than welcome to read more articles on online. Self-education is always very important to improve your trading performance always. For your trading, you have an access to three level of trading statistics including basic, advanced and detailed statistics. In the basic trading statistics, you will find useful trading statistics for your trading each day. The advanced trading statistics can be used each month to know your trading performance. Some traders might use the advanced trading statistics every week if they wish. If you want to dig your trading performance in more details, then go to detailed trading statistics. In detailed trading statistics, you have an access to over 80 different trading statistics. You can even find out the separate trading performance measurement for both buy and sell trades. Indeed, these are very useful information for professional traders. You can use them to communicate with other professional traders about your trading performance.