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Market Order 2.0

 

Two new parameters are added since version 1.0. Profit target and stop loss can now be set individually of each other with a choice of pips, percentage or amount of the account balance. Stop loss and target can be set to zero, but then a warning is displayed on the screen. If the stop loss is set to zero, the Risk will display commission plus spread.

 

The Market Order cBot will open a market order when stopped.

 

Market Order cBot is free to download!

It can be run on both live and demo accounts without restrictions.

 

Supports all currency pairs. There are a few parameters that needs to be filled in by the trader. Color coded to give the extra security if the setup is a buy or a sell order. The order that will be placed can have a label and an comment assigned to it.

 

When the cBot is started it will give all the information of the the parameters setup and the preparation taken. The total risk at stake is clearly defind, based on volume, stop loss, spread and commission. To place a market order according to the criteria made in the setup, the cBot needs to be made "Active" by selecting Yes.

 

When the cBot is stopped it will immediately place a market order!

 

The Market Order cBot can be positioned anywhere on the screen, especially if you detach the window in cTrader. It's small in memory usage and can be resized to fit your workspace. Several Market Order cBots windows can be running at the same time, handeling the market orders for different currency pairs.

 

Note: For the cBot to be able to display the information correctly at least one trade needs to be in the history of the the currency pair.

 

 

Market Order 2.0 default setting.

 

Market Order 2.0 parameters

 

Setup to buy a long position, stop loss in percentage and target in amount.

 

buyordersetup

 

Setup when both the stop loss and the target is set in percentage.

 

sellordersetup

 

Showing a sell basic setup on the screen, inactive.

 

 marketorder2.0sell-basic screen

 

A buy position on the screen, stop loss in percentage, target in amount.

 

marketorder2.0-stoppercent-targetamount

 

 

A buy order, stop loss in amount and target in pips, active.

 

marketorder2.0-buy-stopamount-targetpips

 

A warning is displayed if either the stop loss or target is not selected. 

 

marketorder2.0-warning

 

 

 

MARKET ORDER

Clarifies that the order is a market order. Color coded so the trader can easily see if he is going long or short on his market order.

 

Buy or Sell

Color coded so the trader immediately knows if the set up of the order is a Buy (long) in a positive color, or a Sell (short) in a negative color. Default is "Buy".

 

Currency Pair and Lots

The name of the currency pair and the lots to trade. A positive color then it's a buy market order, and a negative color then it's a sell order. Default in lots are 0.01.

 

Market range

The slippage that is acceptable when the market order is placed. In a fast moving market if the market range is set too low the order will not go through and therefore it will be rejected. The steps are in pips 0, 1, 2 and so on. Default is 0.

 

Target 

When the order is placed a profit target can be assigned to the market order. If the market moves in the favor of the position and the target is hit, the broker will sell off the position directly on their brokerage server to a profit. If the profit target is set to zero a warning is displayed on the screen that no target is set. The target information displays if it is based on pips, percentage or amount of the account balance. Default is 40 in pips.  

 

Stop

When the order is placed a stop loss can be assigned to the market order. If the market moves against the position and the stop loss is hit the broker will sell off the position directly on their brokerage server to a loss. If the stop loss is set to zero, the Risk will display commission plus spread and a warning is displayed on the screen that no stop loss is set.  If the stop loss is set less then the spread a warning is issued to increase the stop. The stop information displays if it is based on pips, percentage or amount of the account balance. Default is 20 in pips. 

 

Risk

When a market order is prepared this will give important information on how high of a risk the order is in when the stop loss is executed. This is based on total volume, stop loss, spread, and commission both ways. The risk in the amount (account currency) and in percentage (4 digits) are given.  If stop loss is set to zero, the Risk will display commission plus spread. The history of the pair has to have at least one trade made to calculate the risk correctly.

 

Spread

The current spread on the pair. The less spread when placing the market order, the lower the cost will be when the order is filled.

 

Label

A label to the market order can be assigned. It will be visible in "Positions" when opened and under the "History" tab Label when closed. Default is empty.

 

Comment

A comment to the market order can be assigned. It will be visible under "Positions" when opened and under the "History" tab Comment when closed. Default is empty.

 

Active

When the cBot is made active (Yes) it will place a market order according to the setup when the robot is stopped. If left in the default (No) it's inactive and will not place an order.

 

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Market Order 2.0 with the chart made visible.

 

marketorder2.0-chartvisable

 

 

Other free downloads!

Alerts 1.0 cBot

Market Order 3.0 cBot

Market Order 1.0

Close Positions cBot

Broker cBot

Traders Aid cBot

Lots and Volume to trade cBot

The Spread cBot

Bought and Sold cBot

RMM Robot 2.5 Manual A4-25 pages 

RMM Robot 2.5 cBot, unlimited version