MT4 Hydra Trade Manager V.3.0 User Manual
Contents
1. An example of market buy orders immediate buy trades Sell places 3 market sell orders at current market price Stop Losses to be set at the Upper Line level Profit Targets to be set according to the Input settings Both Stop Loss line and Profit Target lines can be modified by double clicking on the line and drag and drop to the level required Position size is calculated from the actual Stop Loss distance when the button was hit Buy Stop places 3 Buy Stop Pending Orders with the predefined settings Upper Line gives the price where the Buy Stop Pending Orders are going to be activated Lower Line gives the Stop Loss levels Profit Targets to be set according to Input settings MT4 Hydra Trade Manager V 3 22 www MT4TradeManager com au TRADE MANAGER SCRIPTS An example of Buy Stop Pending Orders Sell Stop places 3 Sell Stop Pending Orders with the predefined settings Lower Line gives the price where the Sell Stop Pending Orders are going to be activated Upper Line gives the Stop Loss levels Profit Target to be set according to Input settings Buy Limit places 3 Buy Limit Pending Orders with the predefined settings Upper Line gives the price where the Buy Limit Pending Orders are going to be activated Lower Line gives the Stop Loss levels Profit Targets to be set according to Input settings Sell Limit places 3 Sell Limit Pending Orders with the predefined settings Lower Line gives the price where2. The high degree of leverage can work against you as well as for you Before deciding to trade foreign exchange 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 foreign exchange trading and seek advice from an independent financial advisor if you have any doubts The team behind MT4TradeManager com au is not a licensed financial advisor and does not provide financial or investment advice or make recommendations for investing in any types of products including shares derivatives options and other financial instruments The Information may be provided in this booklet on the website seminars either orally or in written form and or through other communications media videos webinars tutorials etc As part of the Information trading examples and scenarios may be given but the team does not make any representations with regard to profits and losses shown in such examples and scenarios The team behind MT4TradeManager com au strongly advises all users of the MT4 Hydra Trade Manager script to seek professional advice from a licensed MT4 Hydra Trade Manager V 3 2 www MT4TradeManager com au financial advisor before making any financial decisions or making
3. User Manual MT4 Hydra Trade Manager V 3 Copyright 2012 2014 www mt4trademanager com au Disclaimer and Risk Warning 5 trente eere ener One te neuste e erret eror dno eere doa 2 Other Legal DOCUMENTS cotone entes ne entente Ea eaae E depo tente eat 3 MT4 Hydra Trade Manager error ect eere rea esae ev eer eee ra obe a Io ERE ea eee v rae ENTER 4 Wat IS d dc a Ea 4 How does it differ from EAS iue tienne einen ER Ru SCR REPRE E ERN RS aaia 4 i r s Y 5 Vins teal Ati in m C 7 Getting SUA ECG ices ER 10 S QUEM a E E E E LLLI ELLE 15 Working with the script iis ccccisecsevcssecccisenccsaveieecesivatcdcateteececaveieeevesiatsncavscandetsctdesvsvetsnesvdbannservecatnevdvenes 19 INCCOUNRTHIATO caranta e E sade E E E E A 20 Trad NEO teinte E A to ee e tt E 20 Curen VIN Oe EUEUSM 21 PURON Saneren EU 21 UGS E A E P E T E S S A A E O E A 24 Registering your COPY dernieres E EK EEEN EEEE aa a aaa Bea eue see en ao arua 25 Error Messages E 28 EDI A EOE E E E A E E 30 Thank youl renari rarei eA EA EAA EAEE A OTA AEREA AA a a ec ad 31 MT4 Hydra Trade Manager V 3 1 www MT4TradeManager com au Disclaimer and Risk Warnings Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors
4. v Automatic Profit Targets up to 3 different Profit Targets scale out v Favourable Risk Reward Ratio can be different for each trade vV Especially designed for breakout or for trend following trades v Slippage Protection v Flickering free buttons MT4 Hydra Trade Manager V 3 5 www MT4TradeManager com au v Sound alarm for pending orders being executed v Sound alarm for Stop Loss and Profit Target v Works on multiple computers with the same account v Works in multiple windows at the same v Works with multiple strategies at the same time v Works on multiple currency pairs at the same time v Works with multiple positions at the same time v Forex Market Foreign Exchange Market v Automatic Broker Detection MT4 Hydra Trade Manager V 3 6 www MT4TradeManager com au Installation To install the script properly all you have to do is to copy it to your MT4 Data Folder Step 1 In your MT4 go to menu and select File Open Data Folder Insert Charts Tools Window Help New Chart L E New Order 4 amp S5 Expert Advisors Open Offline Open Deleted Profiles Close Ctri F4 Save As Cti S Save As Picture Open Data Folder Open an Account Login Print Setup j Print Preview Print MT4 Hydra Trade Manager V 3 7 Step 2 In the Data Folder double click on MQL4 folder to get in Step 3 Choose your destination folder EA s
5. Manager V 3 26 www MT4TradeManager com au About Common Inputs Variable lab ValidationKey bed LineDistancelnPips e MoneyManagement Z RiskBasedOnAccountBalance Ve Risk Ve Lot Size MaxLot nas Slippage De us ie After a successful payment you return to our page and your will get a unique validation key Copy the validation key in the Input in your script settings to validate your copy You DO NOT need to reinstall the script at all After a successful validation your trading script looks like this v EURUSD H1 1 35253 1 35281 1 35246 1 35271 BUY BUY STOP BUY LIMIT EE SELL STOP ff SELL LIMIT CLOSE ALL DELETE P ORD MT4 Hydra Trade Manager V 3 27 www MT4TradeManager com au Now you can use your legal registered copy of MT4 Hydra Trade Manager as long as you work with that trading account You can use it on multiple computers you have to install on each as long as you work with the same account Error messages Waiting for new tick Either the market is closed or experiencing an illiquid period Wait until new tick comes in a couple of seconds Waiting for server responding An order was sent to server but we have to wait for server to confirm Expert Advisor Is Disabled In order to work with MT4 Hydra Trade Manager script you must enable Expert Advisor to run on MT4 platform Insufficient money You do not hav
6. any investments Subject to any terms implied by law which cannot be excluded the team behind MT4TradeManager com au does not accept responsibility in any way including negligence on the part of the team behind MT4TradeManager com au for any direct or indirect losses damages costs or expenses incurred by users of the MT4 Hydra Trade Manager script Use the MT4 Hydra Trade Manager at your own risk Other Legal Documents Read the End User Licence Agreement here http www mt4trademanager com au Eula Read our Terms and Conditions here http www mt4trademanager com au Terms Read our Privacy Policy here http www mt4trademanager com au Privacy MT4 Hydra Trade Manager V 3 3 www MT4TradeManager com au MT4 Hydra Trade Manager What is it MT4 Hydra Trade Manager Script is a standalone fast executing MT4 script which allows you to easily manage multiple up to 3 trades and or pending orders at the same time from the same price level with different positions sizes risk and with different Profit Target distances reward That is what the Forex trading jargon calls scale out Also it features very sophisticated yet easy to use and accurate Money Management which allows you to use tailored Money Management methods best matching your trading style or your trading strategy How does it differ from EA s MT4 Hydra Trade Manager Script is a script that executes your commands buy sell etc with a sing
7. hidden and the buttons take its place to give you a compact layout AccountinfoColour set the colour you like for the Account Info text AccountinfoFontSize set the font size you like for the Account Info text DatatInfoFontSize set the font size you like for the Trade Info text CurrencyInfoFontSize set the font size you like for the Currency Info text SpreadColour set the colour you like for the Spread text RiskColour set the colour you like for Risk text MinStopLossColour set the colour you like for Minimum Stop Loss text UpperLineColour set the colour you like for Upper Line LowerLineColour set the colour you like for Lower Line RangeColour set the colour you like for Range text CurrencyPerTimeColour set the colour you like for currency pair and time remaining text BuyButtonBackground set the colour you like for Buy button background BuyButtonTextColour set the colour you like for Buy button text SellButtonBackground set the colour you like for Sell button background SellButtonTextColour set the colour you like for Sell button text MT4 Hydra Trade Manager V 3 17 www MT4TradeManager com au BuyStopButtonBackground set the colour you like for Buy Stop button background BuyStopButtonTextColour set the colour you like for Buy Stop button text SellStopButtonBackground set the colour you like for Sell Stop button background SellStopButtonTextColour set the colour you like for Sell Stop button tex
8. indicates the status of Money Management setting in Inputs If the script uses Money Management TRUE it shows Active If the script uses pre set LOT size say Money Management FALSE it shows Inactive status MT4 Hydra Trade Manager V 3 20 Risk it shows the total risk percentage you set in Inputs settings for 3 trades Min SL it shows the minimum Stop Loss distance in pips required by your broker You cannot place any order or trade with a Stop Loss any tighter than this value in pips Upper line it shows the price level of the Upper Line Lower Line it shows the price level of the Lower Line Range it shows the calculated distance in pips between the Upper Line and the Lower line including the actual spread Currency Info In this section you can find the symbol of the current chart and its time frame as well as the remaining time of the current candlestick on that certain time frame Buttons You can manage your orders and trades by clicking on buttons Buy places 3 market buy orders at current market price Stop Losses to be set at the Lower Line level Profit Targets to be set according to the Input settings Both Stop Loss line and Profit Target lines can be modified by double clicking on the line and drag and drop to the level required Position size is calculated from the actual Stop Loss distance when the button was hit MT4 Hydra Trade Manager V 3 21 www MT4TradeManager com au
9. of the two lines plus actual spread determines the Range In case you place any type of BUY order either market or pending one Lower Line level determines the Stop Loss level In contrast in case you place any type of SELL order either market or pending one Upper Line level determines the Stop Loss level Position size is to be calculated from the distance of entry price and Stop Loss level With your best interest in mind you cannot place an order using MT4 MT4 Hydra Trade Manager V 3 24 www MT4TradeManager com au Hydra Trade Manager without an Automatic Stop Loss order It is essential Once your trade is alive the green dotted lines represent your Profit Targets and the red dotted lines represent your Stop Losses on the chart You can drag and drop them anytime to modify their level however it will not affect the trade size volume of the existing trade To modify them place your cursor just above the Profit Target line within 10 pixels Double click to activate the line and drag and drop to level required Important if you placed your cursor right on the line and you see the message box Drag to modify IT IS NOT WHAT YOU WANT that option comes from MetaTrader4 platform Move you cursor a bit above Profit Target or below Stop Loss the line until the message disappear Registering your copy If you installed your MT4 Hydra Trade Manager script on a demo account you have a fully operational unlimited
10. and MT4 Trade Manager scripts go to Expert folder indicators go to Indicators folder MT4 Hydra Trade Manager V 3 8 www MT4TradeManager com au Step 4 Right click in the Experts folder and paste the copied file here Done of Favorites IB Destop maucache dat B Dowrineds MTA birady Trade Mansqer v3 esd Recent places MTA Money Manager wot MTA Lite Trade Manger v3 esi the PC MTA Scale Frode Manager vd Lect ig Desktop MACD Swnple ext D Documents Moving Average aod ig Downinad MACD Swnjle D Music 5 Mowng Average E Pictures B deos Le Loca Cink C ca G DAT A Network Unde Delete Share eth Shared Folder Synchrorecatson New Properties Congratulations You have successfully installed MT4 Hydra Trade Manager script on your computer told you it is going to be easy MT4 Hydra Trade Manager V 3 9 www MT4TradeManager com au Getting Started After a successful installation click on the Navigator icon on the menu bar Expand the Expert Advisor menu and find the script You may notice that the icon next to its name appears grey while all the others are coloured this is perfectly normal A File View pate Window E Fhe 1 i wl h New k 4 Navigator JA Hi Navigator A MT4 Trader ES B Accounts EH f Indicators 5 8 Expert Advisors MACD Sample ZR MT4 Hydra Trade Manager 2 Custom Indicators m Ee Scripts Click on the MT4 Hydra Trad
11. e Manager and drag and drop it on to the selected chart MT4 Hydra Trade Manager V 3 10 www MT4TradeManager com au You can and you should customise your settings by clicking on the Inputs tab and double clicking on the value to change See the Settings detailed in the next chapter Common Inputs Variable Value gt 123 Line distance in pips m es Money Management true a Risk_based_on_Account_Balance true 43 Risk Reward true 123 Risk_Reward_1st 1 has Risk Reward 2nd 2 is Risk Reward 3rd 3 Load 0 Med Risk 1st ERR a gt a MT4 Hydra Trade Manager V 3 11 www MT4TradeManager com au Now if you have a look at the upper right corner you can see the name of the script MT4 Hydra Trade Manager and either a happy face or a sad face Sad face indicates that there is something wrong with the settings the script does not work In case you see the sad face click on the Tools Options tab in the main menu f File View Inset Charts Window Help Eh Eh 8 S Ge E Ed New Order v EURUSD M15 1 35215 1 35251 1 3521 History Center Global Variables MetaQuotes Language Editor MT4 Hydra Trade Manager V 3 12 www MT4TradeManager com au In the Options window click on Expert Advisor tab and tick the following check boxes according to the screenshot below r Options Es Server Charts Obj
12. e sufficient money available on your account to open a single trade 100 is a minimum amount required There is no trade open You hit the Close All button but there was no open trade There is no pending order You hit the Delete P Orders button but there was no pending order Either the market is closed or the Profit Target or the Stop Loss level was too close to the market price See Pg 24 Trade Info Min SL There is no trade open by MT4 Hydra Trade Manager on the chart You probably hit the Close All button to close all trades but there were no trades MT4 Hydra Trade Manager V 3 28 www MT4TradeManager com au opened by MT4 Hydra Trade Manager script you either opened them manually or with some other script EAs Error during modifying Stop Loss Ticket 123456 The Stop Loss of that particular trade could not be modified most likely the actual price is too close to it See Pg 24 Trade Info Min SL Error during modifying Profit Target Ticket 123456 The Profit Target of that particular trade could not be modified most likely the actual price is too close to it See Pg 24 Trade Info Min SL SL and or PT orders could not be executed Most likely the actual price is too close to them See Pg 24 Trade Info Min SL Error modifying Trailing SL Most likely the actual price is too close to it See Pg 24 Trade Info Min SL MT4 Hydra Trade Ma
13. ects Trade Expert Advisors Notifications Email Publisher Events lt Expert Advisors except for Custom Indicators and Scripts Disable experts when the account has been changed Disable experts when the profile has been changed live trading T Ask manual confirmation DLL imports r E Confirm DLL function calls extemal experts imports Click OK to apply changes Check if Expert Advisors are enabled to run File View Insert Charts Tools Window Help G Eh 4 Ge EI a Eh New Order Gs per aviso Expert Advisors are disabled Click on the button to enable ff File View Inset Charts Tools Window Help GR Dle gt GED L B New order Expert Advisors are enabled Ready to go MT4 Hydra Trade Manager V 3 13 www MT4TradeManager com au Now you most likely can see the happy face in the upper right corner indicating that MT4 Hydra Trade Manager works properly MT4 Hydra Trade Manager v2 2 2 MT4 Hydra Trade Manager V 3 14 www MT4TradeManager com au Settings Line_distance_in_pips it determines the pip distance of the lines from the actual price when the script is initialised Money_Management if it is TRUE the script calculates the position size based on the Risk percentage of the Account Balance for each trade individually If it is FALSE the script uses the Lot_size set instead Risk_based_on_Account_Ba
14. f it is TRUE the script pulls both remaining Stop Loss orders to break even point plus extra pip when the 1 Profit Target was hit BreakEven ExtraPIP set the value of extra pip you want to make in case of break even Stop Loss above below the actual entry price to cover the costs like spread commission etc It works the same way with both automatic and manual SLTOBE executions Max Lot set the maximum Lot size you intend to use during trading Slippage set the maximum distance in pips you allow the server to execute your orders from the price set Default Risk Reward Ratio set the multiplier for the Automatic Profit Target distance based on the Stop Loss distance Magic unique ID number for trades managed by MT4 Hydra Trade Manager Open Alarm set the type of sound alarm for pending orders being activated 0 no alarm 1 alarm sound 2 alarm sound 3 timeout sound Close Alarm set the type of alarm for closing any positions either with Stop Loss or Profit Target O no alarm 1 alarm sound 2 alarm sound 3 timeout sound MT4 Hydra Trade Manager V 3 16 www MT4TradeManager com au DefaultButtonStyle if it is TRUE the default Windows style buttons appear on the chart If it is FALSE you can customise the colour of each buttons Info_Panel_View if it is TRUE the Account Info Panel is visible If it is FALSE the Account Info Panel is
15. lance if it is TRUE the script calculates the Risk based on the Account Balance If it is FALSE it calculates the Risk based on the Equity Balance Risk_Reward if it s true the Profit Targets are calculated based on the Risk Reward ratios set It it s false the Profit Targets are calculated in pips set Risk Reward 1 set the targeted Risk Reward Ratio for the 1 trade works only if Risk Reward True Risk Reward 2 set the targeted Risk Reward Ratio for the 2 trade works only if Risk Reward True Risk Reward 3 set the targeted Risk Reward Ratio for the 3 trade works only if Risk Reward True Risk 1 set the risk you intend to take for the 1 trade in percentage ProfitTarget 1st set the aimed Profit Target for the 1 trade in pips works only if Risk Reward False Risk 27 set the risk you intend to take for the 2 trade in percentage ProfitTarget_2 set the aimed Profit Target for the 2 trade in pips works only if Risk Reward False MT4 Hydra Trade Manager V 3 15 www MT4TradeManager com au Risk_3rd set the risk you intend to take for the 3 trade in percentage ProfitTarget_3 set the aimed Profit Target for the 3 trade in pips works only if Risk_Reward False Please be warned that the risks for each trade are adding up in case of Stop Loss In case you risked 0 3 on each trade you will suffer from a sum of 0 9 loss in total Automatic_SLTOBE I
16. le button click or modifies your trades with drag and drop Stop Loss and Profit Target lines on the chart It DOES NOT trade by itself it DOES NOT give you trading advice or trading signals of any type It purely makes trading easier faster and more effective on MT4 trading platform However it does calculate the correct position size for each trade you set up based on your account size account size equity size or margin available it is optional the risk you intend to take and the pip distance of Stop Loss level MT4 Hydra Trade Manager V 3 4 www MT4TradeManager com au Features v Windows XP Windows 7 and Window 8 compatible both 32 and 64 bit versions of all v Works with all major brokers MT4 trading platform v Works with both DEMO and LIVE accounts v Easy 1 min installation v Customizable user interface size colour layout etc v Easy logical operation v Non invasive layout v One click order management v Exceptionally fast trade execution v Precise Money Management calculation v Double click protection v Advanced Money Management options Based on Balance Risk 96 Based on Equity Risk 96 Based on standard LOT size v Calculates the position size dynamically for each trade separately up to 3 trades individually v Uses whole lots mini lots and micro lots as well Minimum Margin Available Monitor v Insufficient Money Warning v Capital Protection Forced Stop Loss order Automatic SL to Break Even
17. nager V 3 29 www MT4TradeManager com au Support We strongly recommend you to follow the installation tutorial to see the installation process step by step http www MT4TradeManager com au HowTolnstall Also feel free to subscribe to our YouTube Channel to watch my LIVE trading videos with MT4 Hydra Trade Manager http www youtube com user mt4trademanager Should you have any questions visit the website and look for answers amongst Frequently Asked Questions http www mt4trademanager com au Faq If you are still concerned contact us http www mt4trademanager com au Contacts With your registered copy of MT4 Hydra Trade Manager you enjoy the benefit of life time updates of this product and unlimited email support MT4 Hydra Trade Manager V 3 30 www MT4TradeManager com au Thank you Your opinion your feedback and suggestions are always welcomed please let us know what you think about our scripts and help us develop the best trading tools You tell us what you want and we listen All the best on the markets Best Regards Behalf of the MT4 Trade Manager Team Geza Kalle The Ambassador of Live Forex Trading jgkallo profitscenario com au www ProfitScenario com au www MT4TradeManager com au Version 3 06 03 2014 MT4 Hydra Trade Manager V 3 31 www MT4TradeManager com au
18. t BuyLimitButtonBackground set the colour you like for Buy Limit button background BuyLimitButtonTextColour set the colour you like for Buy Limit button text SellLimitButtonBackground set the colour you like for Sell Limit button background SellLimitButtonTextColour set the colour you like for Sell Limit button text CloseAllButtonBackground set the colour you like for Close All button background CloseAllButtonTextColour set the colour you like for Close All button text EERIE set the colour you like for Delete P Ord button background DeletePendingButtonTextColour set the colour you like for Delete P Ord button text MT4 Hydra Trade Manager V 3 18 www MT4TradeManager com au Working with the script Congratulations You have your own script working on your chart It most likely looks like this background colour can differ according to your settings MT4 Hydra Trade Manager V 3 19 www MT4TradeManager com au On the screen you can distinguish 4 different areas of the script buttons account info trade info and currency info ccount Info In the Account Info area you can find some basic information about your account provided by your broker Trade Info In the Trade Info area you can find some important information about your trade conditions Such as Spread it shows the actual spread difference between ask and bid price on that certain currency pair in pips MM it
19. the Sell Limit Pending Orders are going to be activated Upper Line gives the Stop Loss levels Profit Target to be set according to Input settings MT4 Hydra Trade Manager V 3 23 www MT4TradeManager com au Please note that you can place a Sell Limit Pending Order ONLY if the price is BELOW both the Upper and Lower Lines SLTOBE pulls the Stop Loss orders of all active trades to break even point plus extra pip Please note that trades opened any other way eg manually will NOT be effected Close All Closes all the trades opened by MT4 Hydra Trade Manager Please note that trades opened any other way eg manually will NOT be closed Delete P Ord Deletes all pending orders placed by MT4 Hydra Trade Manager Please note that pending orders placed any other way eg manually will NOT be deleted Lines MT4 Hydra Trade Manager script operates with two lines the Upper Line and the Lower Line As soon as the script is initialized the two lines appear on chart at the predefined Line_distance_in_pips in Inputs settings distance from the actual price If you set this value to 10 default the Upper Line is going to be drawn 10 pips above the current price and the Lower Line is going to be drawn 10 pips below the current price at the time of initialising You can drag and drop either line at any time However you cannot cross them the Upper Line must be higher than the Lower Line at all times The distance
20. trial version Enjoy working and practicing with it as long as you want IMPORTANT if you installed the script on a LIVE account the free Trial Version is limited to use only the BUY and CLOSE ALL buttons no other buttons will work in trial version on LIVE account In order to free up the limitation and to get all buttons work you need to register your script and to purchase a validation key account that it was purchased from In case you want to work with MT4 Hydra Trade Manager script on multiple accounts you have to buy multiple licences MT4 Hydra Trade Manager V 3 25 www MT4TradeManager com au You can register your copy by clicking on any button that doesn t work and you will get an alert message Your alert message looks like this Trial version is limited Register your copy now http www mt4trademanager com au purchase buynewhm dgmjt Copy the web link from the error message accurately including the weird character string at the end of the link and paste in your web browser you may have to extend the window to the right by dragging the right bottom corner to see the whole message in length Also you can check this alert later at the bottom of your MT4 in the Experts tab as shown on the picture below In your web browser follow the onscreen instructions to pay either with your PayPal account or with Credit Card via PayPal IMPORTANT we redirect you MT4 Hydra Trade
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