Epic Trading Tool Manager Review โ€“ Meta Trader Software

15 Price Action Patterns Insiders are Using If a hedge fund managers were using 15 specific price action patterns would you want to know?

Epic Trading Tool Manager Review - Meta Trader Software

Epic Trading Tool Manager

The epic trade manager tool is an Easy and fast visual mode to enter and exit a position by market. This mt4 trade manager tool will drastically help you take trades with confidence!

This tool is designed for both MT4 and MT5. This position tool is one of the best money managers you can find for the platform.

If you are looking for a great ea for mt4, then you are going to want to keep reading! This is the ultimate trader manager tool, and you will see why below

Is Epic Trading Tool Manager a valuable option?

The value this tool brings to the table for Forex traders is unlimited. Time is a valuable thing. Instead of taking ten minutes to figure out your risk, stop, take profit, and many other important elements of the trade, it will take you just under 5 seconds to take your trade with the epic tool.

Just two clicks and you take the trade and risk exactly what you wanted to risk.

Using Meta Tradeโ€™s โ€œnew orderโ€ tab to take a trade will be a thing of the past after you start using epic!

So instead of thisโ€ฆ

Epic Trading Tool Manager Review - Meta Trader Software

You will be using this to make a trade entry:

Epic Trade Manager Buttons

There are countless benefits to using this tool, so we are going to break it down and show you everything the epic trade manager for Meta trader can do for you.

Demo Video of Epic Trade Tool Manager for Meta Trader 4 and 5

If you would like to see a quick demo video of this tool, please watch this video now!

Benefits of using this tool

  • Visualization of an entry level, stop loss and take profit that will be set to buy/sell position if trader presses Buy/Sell trade control buttons
  • Compact-looking information table for showing trade parameters and features like: already open positions, max available money to risk per next trade, stop loss and take profit sizes (in points and converted to money) possible for next trade, trailing stop, break-even sizes, etc.ย 
  • Risk management: Opens positions with a size based on specified risk management rules.ย 
  • Options:
    • Use a specified currency amount acceptable for risk, for example, $100 per trade
    • Use a percentage of account balance, for example, 1% of the current deposit.ย 
  • Having max allowed loss and stop loss value (see below) EPIC tool automatically calculates a size of position to open.
  • Stop-loss/take profit management. Automatically sets stop loss and take profit on position opening.ย 
  • Options:
    • Stop loss and take profit can be set directly in points.ย 
    • Stop loss and take profit can be set by ATR multiplier
  • Break-even. Automatically sets a stop loss to break even when a profit reaches a specified value. Break-even can be set in 2 ways:
    • Directly in points, for example, 100 points of profit
    • In ATR units, for example, 2x ATRs of profit
  • Trailing stop. Automatically trails stop loss using one of the predefined strategies:
    • Traditional trailing stop set in points โ€“ follows a price with each tick and moves stop loss ahead to keep specified stop loss distance.ย 
    • Trailing stop specified in ATR units โ€“ calculates stop loss distance from ATR indicator
    • Chandelier trailing stop โ€“ moves stop loss using chandelier strategy also known as ATR trendย 
  • FIFO option to keep a single position
  • Customization dialogs to open position with custom parameters or set stop/limit orders
  • trade assistant mt4

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How to Trade With this tool: The Easy-to-use Trade Tool Buttons

As was mentioned above, one of the key features of EPIC money management tool is controlling a max possible loss per trade.

Once a trader sets the rules to calculate max risk, all further positions must open with automatically calculated size, stop loss and take profit in order to conform max risk limitation.

This is the key difference of EPIC tool from the standard MetaTrader trade tool: you open a new position at one click without calculating its size, stop loss and take profit.

To do it fast you need 4 easy-to-access buttons: 2 for buy/sell entry and 2 for buy/sell exit:

Money Management Meta Trader

Pay attention that Close buy/sell buttons are available only when there is an appropriate open position.

In order to see a visual representation of possible trade, there are 2 additional buttons: levels for buy and sell entries.

Click on a top/bottom Levels button if you want to see how your new buy/sell position will look:Custom Trade Entry Lines Mt4

Note: you can change level colors in Visualization section of settings:

These mt4 drawing tools will drastically help you visualize the trade before you take it.

Additionally, you can choose any corner of the chart you like to see trade buttons, as well as their font and size

For example, how it would look in Right bottom corner, with Verdana font and 8px font size:Mt4 Trade Management

Key Feature โ€“ Move the tool around on the chart!

Many times when you get a tool for Meta Trader it is stuck in one place.

With the Epic trade tool manager you have the ability to move it around the chart and position it exactly where you want it to go!

Check it out:Custom Trade Entry Software Mt4

The Information Table โ€“ What you see before you take a trade

See the Info table parameters section for full list of options:ย Info Epic Trade Manager What It Shows

Position identification rules โ€“ How you can use this

EPIC tool marks each position with a special tag to identify then this position as its own.

EPIC tool distinguishes its positions from positions that were open by other EAs or manually by trader.

It means that EPIC tool never changes or closes โ€œalienโ€ positions

By default, EPIC tool uses strict identification rules: position is keyed by EA identifier, plus instrument, plus timeframe.

For example: 1234,EUR/USD,H1.

It means that if trader switches the timeframe on chart EPIC tool will not identify positions from previous timeframe

Optionally, you can remove timeframe from position identification key:

In this mode EPIC tool will be ignoring an initial timeframe of position.

Attention. Changing the identification rules will not affect an already open position.
In other words, positions opened in the previous mode are not identified in the new mode:

Attention. By default, EPIC tool uses a current timeframe to calculate levels (stop loss, take profit, trailing stop, etc.) based on ATR. With ATR-driven levels, changing a timeframe will impact open positions and will change their levels. So, if you use this mode of identification, be sure you set a specific timeframe to calculate ATR levels. EPIC tools helps you in this and warns if it sees a potential danger

Epic Trade Alert Mt4

Taking Trades with this tool

By default, to avoid any trade operations by accidental click on trade control buttons, EPIC tool asks for confirmation:

Epic Trading Tool Manager Review - Meta Trader Software

If you prefer your orders are executed as fast as possible and youโ€™re sure you will never mistake, you can disable this option, however.

But we recommend you keep this on, because you can never be too safe!

How Money management is calculatedย 

EPIC tool has to options to calculate max possible risk. This mt4 order manager has two parts:

  1. To use an explicitly specified amount of account currency. This mode is pretty easy for understanding: you specify how much money youโ€™re ready to lose if things go wrong and EPIC tool calculates lots using your value and SL/TP levels. Letโ€™s consider for example $100 as a max possible lose. Then, for EUR/USD with stop loss = 200 points you will be able to buy/sell 0.5 lots (200 points = $200 for 1 lot, consequently, for $100 we can use 0.5 lots)
  2. To use a percent of deposit to risk.ย  This mode a bit complicated: EPIC tool calculates a specified percentage from your current balance (pay attention โ€“ balance, not equity) and then uses it as the amount of money to risk. Letโ€™s consider an example: you have your current account balance = $11 500, and youโ€™re willing to risk with 1% of your balance. So, in fact you can use $115 to enter a position. Imagining your stop loss is 200 points, you can enter with 115/200=0.575 lots

Note: pay attention that due to a lot fraction is usually limited by hundredth (x.xx), lots amount is calculated with some tolerance.ย 

In example above, 0.575 lots must be rounded up to 0.58, which means that in fact you may have a loss a bit greater than $115, or precisely speaking $200*0.58=$116.ย 

If your lots were, letโ€™s say 0.574, then after rounding they would be 0.57 and you would lose $114.

How to use ATR-based calculations withย 

Many position parameters, like stop loss, take profit, trailing stop, break-even may be calculated by ATR indicator.

Using ATR calculations instead of a directly specified amount of points gives you the advantage to use EPIC tool with the same settings for different instruments.

For example, consider EUR/CHF and GBP/CHF currency pairs.

For EUR/CHF average hourly bar height is about 100 points, for GBP/CHF- about 300 points.

Obviously, you cannot use the same stop loss and take profit settings set in points for both instruments because their volatilities are too much different.

Using ATR calculation instead of points solves this problem because ATR does rely on instrument volatility.

ATR indicator has only one parameter: period.

To simplify ATR usage, all position levels are calculated using the same ATR period, which you can set once in Basic parameters section

How to use Stop loss and take profit calculation

This auto stop loss and take profit ea mt4 system will be perfect for you.

This stop loss and take profit manager ea will easily be able to calculate everything immediately!

Stop loss and take profit can be measured either in points or in ATR units. For setting them in points use next settings:

Stop Loss Calculations Custom Mt4 Money

You can also setย  them in ATR units by using the ATR setting.

Note: If you use ATR-based levels, then it may be useful for you to enable current ATR value in information table (see chapter โ€œ4 Information tableโ€)

How to use a trailing stop calculationย 

Optionally, you can enable trailing stop. Trailing stop has 3 modes to work:

  1. Using specified distance in pointsย 
  2. Using specified distance in ATR unitsย 
  3. Using chandelier exit.

Modes 1 and 2 work the same to appropriate modes for stop loss/take profit

Chandelier exit mode is based on ATR trend algorithm which calculates support line for up-trend and resistance line for down-trend.

To see the support and resistance levels visually on chart you can use our ATR Trend indicator which is shipped along with the EPIC tool:

Support And Resistance Mt4 Lines Indicator

Tracking trailing stop on chart. Since trailing stop changes your stop loss from time to time, it is very helpful for analysis to see the history of its changes on the chart.

With this option enabled you will see take profit and stop loss dashes on each bar of historical data:

Historical Trade Data Mt4 Custom Manager Money Strategy

Is there a Break even parameter?

Yes!

Optionally, you can enable break even and specify rules to its triggering. As usual, you have an option to calculate it in points or in ATR units

How to take a 2 part trade entry with this custom trading software for Meta Trader?

When enabled, this mode splits position on opening into 2 parts. First part will be managed as usual: standard take profit a stop loss will be assigned it. But the second part will be processed in a bit different way โ€“ it will have no a Take profit level at all, and as soon as the first part will be hit by take profit, it will move its stop loss to break-even.

Also, you can add some points to move a break-even ahead (for positive value) or back (for negative value) to position entry price

Custom Size entries with Epic Trade Tool Manager

EPIC tool has a setting to show entry size customization dialog. You can reduce calculated entry size manually before sending it to server. To enable a customization, use the setting

When this setting is enabled a dialog appears on each Buy/Sell button click:

Custom Size Trades With Epic Manager Mt4

Also, EPIC has โ€œCustom โ€ฆโ€ buttons to open custom positions with user-specified lots, stop loss and take profit

With this option enabled, clicking on Buy/Sell buttons opens a customization dialog.

Here you can change stop loss/take profit and even entry price by editing fields or by dragging levels:

Custom Lines Before Entry Trade Mt4 Mt5

If you want to set pending order instead of opening position, uncheck โ€œMKTโ€ checkbox and drag entry line. Depending on entry line position relative to current price EPIC will offer to open stop or limit order.

If you want to keep recommended Stop loss/take profit distances while moving entry level, just check โ€œAutoโ€ option on for SL/TP.

(New Feature) Exceeding lots confirmation

There may be a case when your specified risk from settings is not enough to open even a minimal position.

For example, letโ€™s consider your broker offers min order size 0.1 lots whereas your current risk is targeted to 0.05 lots. In this situation you will be asked for confirmation:ย 

Epic Trading Tool Manager Review - Meta Trader Software

(New Feature) FIFO position accounting mode

With FIFO mode, EPIC when opening a new position which is opposite to existing ones, first, reduces opposite positions by the amount of new position and then, adds a new position if there are lots remained. Letโ€™s consider several examples:

  1. Current position: BUY 1 lot. New order: SELL 1 lot. Result position: flat
  2. Current position: BUY 2 lots. New order: SELL 1 lot. Result position: BUY 1 lot
  3. Current position: BUY 1 lot. New order: SELL 2 lots. Result position: SELL 1 lot
  4. Current positons: BUY 1 lots (#1), BUY 2 lots (#2). New order: SELL 2 lots. Result position: BUY 1 lots (from #2)
  5. Current positions: BUY 1 lots (#1), BUY 2 lots (#2). New order: SELL 4 lots. Result position: SELL 1 lotย 

If a new order is co-directional to existing positions, EPIC just adds a new position, as in hedging mode

The Single position mode

With single position mode, trade buttons are not accessible to make the second enter

Epic Trade Tool Manager Backtestingย 

Backtesting with the epic trade manager is not necessary.ย 

However, we strongly recommend that you start off using the Epic trade manager tool on a demo account first so that way you can make sure you fully understand the tool before you go live.

Feedback about Epic Trade Tool Manager

The team that created the Epic trade tool manager all are using this tool to take trades on their Meta Trader platform.

TJ stubbs, one of the team members that helped create the tool said, โ€œThis will make your life 1000 times easier if you use Meta Trader!โ€

Ben, a casual Meta Trader user said, โ€œI would never go without using Epic. This tool saves so much time trying to calculate a trade.โ€

The feedback from the trading community has been great thus far too!

Here is a few things some of the community members said about Epic Trade Tool Manager

John, a long-time epic member said this when we asked him if it has helped him become a better trader...

โ€œYes, I donโ€™t have to guess the trade size anymoreโ€

Linda, an epic trade tool member, said this:

โ€œYes this has helped me a lot of with trade management.โ€

Here is another comment review of epic trade manager by Agnaldo

โ€œRisk Management is the basis of my trading system and Epic TM has helped a lot so far, I have tried many other solutions but Epic TM is what I was looking for, I have been using it from the first version and its getting even better with the updates.โ€

And Vincent who said:

Epic Trading Tool Manager Review - Meta Trader Software

Epic Trade Tool Manager Rating Review

ย Based on a real poll taken from real customers the epic trade manager tool has received a 4.7 average rating out of 5 stars!

Epic Trade Manager Review Rating

Summary

The Epic Trade Manager Tool is one of the best tools a trader can get for Meta Trader Platform. Is it priced well for the amount of value you get with this tool! if you were expecting a mt4 trade manager free download, or a free mt5 trade manager then this is not for you.

If you are looking for a free position size calculator download we do have this available on our website here

This money manager MT4 indicator is not free, but we have spent over 200+ hours with our developers making this tool great. This smart money indicator is constantly getting updated and keeps getting new features added in on each update.

Epic Trading Tool Manager is one of the best money management tools for meta trader. This MT4 and MT5 management tool will be your best friend when you go to take a trade.

Weโ€™re Sorry

EPIC Trade Management Tool is no longer available for individual sale. If you are still interested in trying it out you can have access to all our tools by subscribing to FOREX Master Trader, our amazing online community of like-minded traders. Check out Forex Master Trader here!
If you have any questions about this tool, please leave us a comment below or send us an email at info@tradingstrategyguides.comย 

Thanks for reading!

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15 Price Action Patterns Insiders are Using If a hedge fund managers were using 15 specific price action patterns would you want to know?

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