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Trading Resources & Education for Forex Traders

Trade Master Pro MT4 Robot

September 26, 2024

Trade Master Pro

Trade Master Pro MT4 Robot Description

Trade Master Pro is an advanced MetaTrader 4 trading robot designed to maximize profitability with optimal performance across all major currency pairs. Tailored for low-spread brokers, this EA (Expert Advisor) ensures that you can take full advantage of tight spreads and minimal transaction costs, making it ideal for scalpers and day traders alike. Trade Master Pro employs dynamic lot sizing and advanced risk management strategies, allowing for efficient automated trading while maintaining strict control over risk exposure.

Installation Guide

Download Trade Master Pro File:
Obtain the .ex4 or .mq4 file from the official website or provider.

Open MetaTrader 4:
Launch the MT4 platform and log into your trading account.

Navigate to the ‘Experts’ Folder:

    1. Go to File > Open Data Folder.
    2. Locate the MQL4 folder and click on Experts.

Paste the Trade Master Pro File:
Copy the robot file into the Experts folder.

Restart MetaTrader 4:
Close and reopen the platform to allow the robot to load correctly.

Attach Trade Master Pro to a Chart:

    1. Open the Navigator panel.
    2. Find Trade Master Pro under the Expert Advisors section.
    3. Drag it onto the chart of your selected currency pair.

Enable Auto Trading:
Make sure “Auto Trading” is enabled in the MT4 toolbar and check “Allow live trading” in the robot’s settings.

Configure Settings:
Set your preferences for lot size, risk percentage, and pair settings to match your trading style.

User Manual

  1. Trading with Low-Spread Brokers:
    Trade Master Pro is optimized for brokers offering low spreads. It functions best with spreads below 1 pip on major currency pairs, ensuring minimal costs and higher profitability.
  2. Dynamic Lot Sizing:
    The robot automatically adjusts lot sizes based on your account balance, ensuring consistent risk management. You can customize the risk percentage and cap lot sizes to maintain your trading risk within safe limits.
  3. Advanced Risk Management:
    Trade Master Pro employs strict risk management protocols, with features such as stop-loss placement and equity protection to minimize losses and preserve capital.
  4. Timeframe Compatibility:
    Trade Master Pro can be used on various timeframes, but it is optimized for M1, M5, and M15 timeframes, allowing you to take advantage of short-term market movements.
  5. Compatible Currency Pairs:
    Trade Master Pro supports all major currency pairs. It’s designed to maximize profitability in highly liquid pairs, but it can also adapt to other pairs if spread conditions are favorable.

Pair Setting

Trade Master Pro is optimized for the following major currency pairs:

  • EUR/USD: Ideal due to its high liquidity and low spreads, making it the top choice for this robot.
  • GBP/USD: Offers higher volatility, giving more trade opportunities.
  • USD/JPY: Known for stable trends, this pair works well with dynamic lot sizing.
  • AUD/USD: A good choice for diversification, with predictable movements.
  • USD/CHF: Offers stability, especially in risk-off market conditions.
  • USD/CAD: Well-suited for trading during North American sessions, providing steady movement.
  • NZD/USD: A commodity-driven currency pair, offering reasonable volatility and good trading opportunities.

These pairs offer optimal performance with low spreads. It’s important to work with a broker offering low costs to fully benefit from Trade Master Pro’s strategies.

Lot Setting

Dynamic Lot Sizing:
The robot automatically calculates the optimal lot size based on your equity and the risk percentage you define. For instance, if you set the risk to 2%, the robot adjusts the lot size accordingly for each trade.

Fixed Lot Size Option:
If you prefer more control, you can disable dynamic lot sizing and set a fixed lot size (e.g., 0.1 lots) for each trade. This feature is suitable for more conservative traders or those with smaller accounts.

Risk Percentage:
Set your desired risk percentage per trade—typically 1-3%. For example, setting a risk of 1% means the robot will only risk 1% of your account balance per trade, adjusting the lot size dynamically.

Max Lot Size:
Set a maximum lot size to ensure that your exposure remains within comfortable limits, even during volatile market conditions. This is especially useful when trading more volatile pairs like GBP/USD.

FAQ

  1. Can Trade Master Pro work with any broker?
    Trade Master Pro is designed to work best with low-spread brokers. Using it with brokers that offer tight spreads (below 1 pip) on major currency pairs will yield optimal results. Avoid using this robot with brokers that have high spreads, as this could significantly reduce profitability.
  2. What are the recommended currency pairs?
    Trade Master Pro is optimized for major currency pairs such as EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CHF, USD/CAD, and NZD/USD. These pairs offer tight spreads, high liquidity, and predictable price action.
  3. What is the minimum account size required?
    A minimum deposit of $500 is recommended to ensure the robot can properly manage lot sizes and risk. However, you can start with a smaller balance if you use a low-risk percentage (e.g., 1%).
  4. How does Trade Master Pro calculate the lot size?
    The robot dynamically adjusts the lot size based on your account balance and the risk percentage you set. This ensures that the risk remains consistent across all trades, regardless of market volatility or your account’s size.
  5. Can I use Trade Master Pro for scalping?
    Yes, Trade Master Pro is highly effective for scalping, particularly on low-spread brokers. The robot performs well on short-term timeframes (M1, M5, and M15), where quick entries and exits are crucial.
  6. Does Trade Master Pro trade during news events?
    Trade Master Pro does not have a built-in news filter. It’s recommended to pause trading or monitor the robot closely during major economic releases, as increased volatility can affect spreads and trade execution.
  7. Can I use other EAs alongside Trade Master Pro?
    Yes, you can use other Expert Advisors on different currency pairs or accounts. However, be cautious of overall risk exposure when running multiple EAs simultaneously.
  8. Does Trade Master Pro have a fixed lot size option?
    Yes, in addition to dynamic lot sizing, you can manually set a fixed lot size. This option is suitable for traders who want more control over their position sizes.

Trade Master Pro is a powerful trading robot tailored for low-spread brokers and major currency pairs, ensuring you can take full advantage of the market with tight risk control and efficient trade execution. It’s ideal for both scalpers and day traders who need a reliable, automated trading system to optimize their strategies.

 

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