Once you execute at Market, the cTrader PIP Maximizer manages your trades as per the parameters specified allowing you to go about your day without monitoring. It’s simple to use and quick to set up as follows:
- Choose from 1-10 simultaneous trades
- Choose a simultaneous SL distance from the entry of all trades
- Choose an incremental distance between TPs of all trades
- Choose a simultaneous SL advancement distance after each TP hits
The tool allows traders to input their parameters and works on any time frame or pair.
Gold (XAU) Example
- Volume is 10 = 0.1 Lot Size
- Take Profit 50 points = 5 PIP increments
- Stop Loss 200 points = 20 PIPs
- Number of Trades = 4
Stop Loss Move 80 points = 8 PIPs every time a TP is hit.
Step 1: Initial Setup
Launch the cTrader PIP Maximizer: Start by opening the tool on your trading platform. You'll find it user-friendly and easy to navigate.
Step 2: Configuring Your Trades
- Select Number of Trades: Decide how many simultaneous trades you want to manage. You can choose anywhere from 1 to 10.
- Set Simultaneous SL Distance: Specify the Stop Loss (SL) distance from the entry point for all trades. This is your safety net.
- Choose TP Incremental Distance: Determine the incremental distance between Take Profits (TPs) for all trades. This helps in maximizing gains.
- Adjust SL Advancement Distance: After each TP hits, choose how much you want the SL to advance. This reduces risk progressively.
Step 3: Inputting Trade Parameters
- Select Your Trading Pair: For example, choose Gold (XAU) or any pair you prefer.
- Volume and Lot Size: Input your volume, e.g., 10 for a 0.1 Lot Size.
- Take Profit Points: Set your TP, for instance, to 50 points for 5 PIP increments.
- Stop Loss Points: Define your SL, like 200 points for 20 PIPs.
- Number of Trades and SL Movement: Confirm the number of trades and how much the SL should move after each TP, e.g., 80 points for 8 PIPs.
Step 4: Activation
Once you've input all parameters, hit the "Execute at Market" button. The cTrader PIP Maximizer will now manage your trades according to the specified settings, allowing you to focus on your day without constant monitoring.
Step 5: Monitoring and Adjustments
While the cTrader PIP Maximizer does the heavy lifting, keep an eye on your trades. You can make adjustments to your settings as the market evolves.
**Final Thoughts**
The cTrader PIP Maximizer is designed to be intuitive and easy to use. However, if you encounter any issues or have questions, don't hesitate to reach out for support.
Remember, the key to successful trading is not just in the tools you use but in understanding how to use them effectively. Happy trading!
How To Install & Remove
First, make sure you have the cTrader trading platform installed, unzip the file and double-click on it to automatically install it onto the platform. The file that is installed can be found in your indicators folder.
Any Questions?
If you have any questions, please first search our product help forum for the answer, if you cannot find it, post a new question.
Need a Broker
If you are still looking for a broker you can trust, take a look at our best cTrader broker site.
