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TMS Trade Manager
“The TMS Trade Manager has been specifically designed for our strategies.
- Places orders (Buy, Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop).
- Visible and invisible Stop.
- Take Profit.
- Lot Size.
When we have a trade opportunity, we target the 10-day Average Daily Range high or low depending on the direction of the signal. In other words, if the 10-day ADR is 100 pips, then our target from the previous day close would be 50 pips or half the 10-day ADR. We place the stop and calculate our risk at 1.5 times the target.
Using the above example our trade would look like this:
- Target is 50 pips
- Stop is 75 pips
- When 0.7 or 70% of the target is reached we move to breakeven.
If the target has not been reached at the end of day one you can close the trade or continue the next if the trend bias is still in your favor.
As an “add-on” we also we can supply a proprietary indicator called the “TMS Risk Reward Levels” indicator which will calculate and place the ADR levels on your chart automatically.
We also have our own Trade Manager which automatically sets the stops, targets and moves stops to break-even. This also is an “add-on”. See the details here.
TMS Risk Reward Levels Indicator
This propitiary indicator will autmatically calculate the Average Daily Range levels and plot them on your chart.
In the above example the trade would be as follows:
- Target 63 pips
- Stop 95 pips
- When profit at 70% or 44 pips move Stop to BE.