Source: Stig Trader
STIG Trader, a unique trade management software program for Forex traders, has launched.
Suitable for both novice and experienced traders, the software integrates with the latest version of MT4 and simplifies the many challenges of the manual Forex trader as well as integrating with fully- or semi-automated trading systems.
At a basic level it accurately calculates trade sizes and applies stop-loss and take-profit positions, based on volatility. Trades are managed with a trailing stop. This helps the trader focus on the process of trading and spotting opportunities rather than complex calculations.
At a more advanced level it has a range of other functions including the ability to:
• Manually or automatically modify settings while a trade is progressing so that stop-losses can be slowed down. This allows the trader to generate more profit if he/she sees the opportunity to do so.
• Use trade size variations to automatically recover losses.
• Pyramid and scale-in positions.
• Use MT4's trend lines, CCI indicators or Fibonacci retracements to enter a trade.
• Integrate with signal generators to create bespoke semi-automatic or fully-automatic trading systems.
• Manage multiple trades simultaneously.
The functionality is modular so that a trader can choose what works best for a particular strategy and everything is directly accessible from a chart interface for easy and accessible use. It is also compatible with MetaTrader's Strategy Tester environment, operating as an effective Trade Simulator, allowing the trader to test trading ideas before applying them as well as providing a platform to practice their skills.
Dr. Neale Stark, Developer and Forex Trader says, 'My idea for STIG Trader came from my desire to simply focus on the trading process and entry points for my trades, without having to spend time on calculations. It has grown into a much more sophisticated programme that is still easy to use, so it suits both beginners and advanced traders - regardless of trading strategy. Having received really positive feedback from the teststing phase with traders of varying experience, I am confident that MT4 traders all over the world will benefit hugely from it."