This tool has been in high demand for the cTrader platform for a very long time, now you can practice placing orders and seeing results without actually having to place the orders – get confident and knowledgeable before risking real money in the markets.
The Power Of Stop Loss & Risk vs Reward
The stop loss is your most powerful tool which allows you to limit your losses. It is also a level from which you feel that your scenario will not happen anymore. It is usually required as an insurance policy for every position so that you can keep your money safe. When a Trade is going wrong, you can be sure that a large part of your capital will be safe. All you need to know is how to place your stop. Once you have a stop loss you can sleep more easily.
The Secret of a Risk/Reward Ratio (RR)
The RR ratio is the difference between your potential profit and your potential loss of trade. You simply divide the pips number you expect to win by the pips number you expect to lose. If you place an order with a take profit of 100 pips and a stop loss of 50 pips then your risk/reward will be 2 which means that you will need to win only 1 trade to recover the loss of 2 trades. Never take a trade if your risk/reward ratio is below 1.
Why is This Charting & Trading Tool Such a Game Changer?
The most useful feature of this tool is that you can set the amount you want to risk per trade as either money or as a % of your account, once this is completed in the settings panel as shown below, the risk/reward tool will re-adjust your position size so that no matter where you position your stop loss your risk stays the same. With this invaluable tool, you can act in a fast-moving market knowing you are not risking more than you set out to do at the start.
Using The Tool For Charting Analysis
This tool can be used for potential trade set-ups showing your risk and reward in pips, money and as a % of your account, it gives you all the information you need to enter a trade with confidence knowing that you will not risk more of your money than you want to.
Quickly Change Order Type
From the control panel on the chart, you can quickly change the order type for fast intraday trading, by simply clicking on the purple button to select Market, Stop & Limit orders.
The tool allows the trader to configure the settings that will suit their trading style and as you can see below there is a comprehensive list of configurable settings to suit everybody. With this tool, you can plan your trades for both Forex and Indices.
Submit Market, Stop & Limit Orders
Traders have the option to place both market and pending orders once they have used the tool to plan their trade setup, the Risk & Reward tool will then manage the predefined risk of the trade so only the pre-planned loss or profit will ever happen.
Add Advanced Risk Management
It is possible to attach profit targets, trailing stop loss, break-even & stealth stop-loss and more by using the cTrader Forex Risk Management Tool which will do this and more. This risk manager will only work with Forex and you will need to use the Attach to ATS feature so that it only manages trades from the Risk-Reward Tool.
How To Install & Remove
First, make sure you have the cTrader trading platform installed and then simply unzip the file and double-click on it to automatically install it onto the platform.
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.
Watch a Video Demo
This video shows a quick demonstration of the latest update that was published in June 2020 for version 2.0.0
Duration: 10-minutes - Watch the Video on YouTube
Product User Guide
If you need help with installation and how to use this product, visit the support page.
This tool has a few limitations with cTrader which are described below, please feel free to post a suggestion to remove these limitations.
- Chart timeframe fixed after starting cBot, this is by design.
- Support for a max lot size of the broker, if you are using large 6-figure accounts, please download the trial version to check.
- Volume is supported for position size and not lots, this is a feature which we plan to add in the future.
- Tick charts are not supported.
- Heiken Ashi Charts with hm3 minute and below timeframes will not work, all other timeframes above 3 minutes are fine.