Introduction
Ah, the SMC Trade Manager. Another day, another trading robot promising to revolutionize your trading experience. Designed by Gustavo Jose Gonzalez Rubi, this tool has a stellar rating of 5 and glowing reviews. But does it really live up to the hype? Let's dive in and find out.Installation and Setup
Installing the SMC Trade Manager is as straightforward as it gets. Simply download the EA from this link, and place it in the 'Experts' folder of your MetaTrader 5 directory. Restart your MetaTrader 5 platform, and you should see the SMC Trade Manager in the Navigator window.To set it up, drag the EA onto your desired chart. You'll be greeted with a settings window where you can customize various parameters. Here are some key settings to focus on:
- RiskPercent: Set the percentage of your account balance you're willing to risk per trade.
- FractalSymmetryFactor: Adjust this to control the scaling out measurements.
- StopLossPips and TakeProfitPips: Define your default stop loss and take profit levels.
Once you've configured these settings, click 'OK' and let the robot do its thing.
User Experience
Using the SMC Trade Manager is like having a slightly overconfident butler. It handles most of the grunt work, but you still need to keep an eye on it. The automated risk management features are a godsend, especially the stop loss and take profit adjustments. However, don't expect it to be a set-and-forget solution. Market conditions change, and so should your strategy.User davidvidal claims it's an essential tool for traders, praising its speed and ease of use. While I agree it's a solid tool, calling it essential might be a stretch. It's good, but not infallible.
Tips for Improvement
Here are some tips to get the most out of your SMC Trade Manager:- Demo Testing: Always test your settings on a demo account before going live. This will help you understand how the robot behaves under different market conditions.
- Regular Updates: Keep an eye out for updates. The developers are likely to release improvements and bug fixes.
- Customize Settings: Don't rely solely on default settings. Customize the parameters to fit your trading style and risk tolerance.
Source Code of SMC Trade Manager
We don't have access to the original source code of the SMC Trade Manager sold on MQL5. However, we can create a similar robot based on its description. If you're interested in a custom version, check out our example code on easytradingforum.com. Note that our team does not sell the SMC Trade Manager; we only provide a code example based on its publicly available description.
Code:
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