Smart Trading Apps

Smart Trading Apps are invaluable Apps designed for traders that want to have full control of a position entry, but leave the entire exit management to the App, which automatically performs:

·         Partial profit taking of the position at arbitrary number of limit levels defined by the trader.

·         Stop management: Each partial profit taking changes the Stop Level along Break-Even and following Limit Levels. The Break-Even can be either a separate action reaching a user-defined profit level before reaching the first limit level or when reaching the first limit level.

·         Optional Trailing Stop according to plural popular trailing methods can be additionally selected for the position management of the Smart Trading Apps.

 

 

 

 

 

Who benefits from using Smart Trading Apps?

Smart Trading Apps are ideal for traders who want to focus on finding the right position entries and do not have the time or will to monitor open positions.

An automated position exit system removes the "emotional attachment" to the trade - which often represents a real problem for many traders. Smart Trading Apps allow you to stick to your trading plan.

No more manual action is required after starting the App. You can leave the FXCM Trading Station II running without a need to monitor the exit management. Email messages will inform you of all important events of the position management, such as reaching a profit taking limit level, moving stop and limit price levels, and position exit.

Everybody who wants to perform multiple profit-taking schemes is relieved from continuously monitoring open positions, which can be a hassle especially for the case that you have multiple positions open to watch.

Further, the App is executing operations such as closing out, moving stop and limit price levels much faster than a trader can manually do.

 

Safety by design

The Smart Trading Apps are designed to automatically cope with network connection interruptions, as they continue to perform the position management after a re-connect of the Trading Station II platform by detecting whether the open position still exists or not.

Also, there is a smart mechanism of protective stop and limit order for the entire position at all times which reside on the Trading Server, i.e. they are kept and executed even when your client computer crashes or loses the network connection.

 

Position Entry Options

Smart Trading Apps enable any trader to just manually control the position entry, either by triggering an immediate Market Entry Order, or by setting a Stop Entry Order or a Limit Entry Order with respective price entry levels.

The user can optionally define the life time of any Entry Order by setting a time limit as a date & time entry.

 

Slippage Compensation

For Stop Entries and Limit Entries, there is an option to compensate for slippage. It can be separately configured to compensate for the StopLoss distance and all the Limit distances.

 

Risk Management – Position Sizing

Dynamic Risk Management is available by determining the position size according to a user-defined percentage of available account equity, account balance, discounted account balance (which takes into account the open risk of all open positions of the account at the time of starting up the App), or account margin. Alternatively, a fixed number of lots for the entire position size can be chosen.

For the partial profit taking, the user sets the percentages of the position for profit taking levels to close out their respective part.

 

 

Profit Taking & Stop Management

The position management supports arbitrary number of profit levels defined by PIPS distances to the entry price. The Stop Management follows the line of Break-Even (with an optional offset around the entry price level) and the limit levels. Separate (early) Break-Even before reaching the first limit level is optional.

The current Apps support up to 10 profit taking limit levels, which covers most exit management schemes. Please note that the number can be even increased upon your request.

This automatic position exit management can be enriched by adding Trailing Stop methods to it, which means that the last limit level is free-floating, to close the position by the trailed Stop eventually. The user defines the profit level which triggers the Trailing Stop method.

This even allows to start the Trailing Stop method before the second-last limit level  has been reached, which may either close the position by the trailed Stop or reach a next partial profit taking limit level.

 

Can I keep positions open over the weekend?

Yes! The Smart Trading Apps allow to the user to specify whether an open position is left untouched over trading breaks including weekends or bank holidays, or whether to automatically close an open position at 16:45 NYT on Fridays.

By re-start of the App, the position management will continue for the open position that was opened by the App and that has been left open when the App was stopped. This allows position management over several weeks if desired.

 

Manual interaction

It is possible for the user to manually adjust the Stop price level or to close a position.

Adjusting the Stop price level, the App will determine if the next Stop price move is more favourable than the current Stop price level of the position, and only perform its expected operation if the next Stop price move will result in a more favourable Stop price level.

Closing of an open position will be detected by the App and does therefore not represent any problem.

Adjusting the Limit price level to lower distances will eventually likely result in a closing of the entire remaining position and is thus not recommended.

 

Account Types supported

Non-FIFO accounts are fully supported. Depending on interest level, FIFO accounts may be supported in the future.

 

How to obtain Smart Trading Apps

Send an email to smarttradingapps@gmail.com for your request.

You can also determine all the default settings you prefer to go with the App you order upon a valid purchase. See the User Guides for the details on the user parameters.

Pricing 

If you like the product, you can purchase Smart Trading Apps by one-time payment for a life-time license for 50 EURO.

 

Payment options

Payment is done by a PayPal payment request which is sent to you. Upon valid payment, the requested App(s) are sent by email together with the license key(s).

 

Demo Version

You can ask for a trial version (time-limited) that you can try out on both a demo account and later a real account. Send your request to smarttradingapps@gmail.com.

It is strongly recommended to learn using any of the Apps on a demo account first, until you are familiar and confident with setting up the user input parameters according to your trading scheme.

 

Still not what you are looking for? Ask for your Custom App!

If the position management is not exactly what you are trading, small modifications can be implemented as a Custom App for any entry type. Send your request to smarttradingapps@gmail.com to learn more.

 

Risk Disclaimer

Trading Foreign Exchange (Forex), Contracts For Difference (CFDs), or other financial products, carries a high level of risk, and may not be suitable for all investors. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from an independent financial advisor if you have any doubts.

The author of this document expressly disclaims all liability for the use, or interpretation by others, of information and computer codes referenced in this document. Decisions based on information contained herein are the sole responsibility of the visitor, and in exchange for using the information contained in this website the visitor agrees to hold the owner of the website and its affiliates harmless against any claims for direct, or indirect, damages for decisions made by the visitor based fully or partially on such information.

User of computer codes referenced as “Smart Trading Apps” and "Indicator" are strongly advised to try these out on a demo account first, to learn how to correctly use them, and to verify the expected functionality. The author of this document expressly disclaims all liability for the use of these computer codes.