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Market Order 3.0

 

Market Order 3.0 cBot is free to download!

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

 

Advanced features are added since version 2.0. Move stop loss to breakeven when in profit, add to breakeven extra pips to ensure the stop loss is positioned strategical right. Trailing of the position with a predefined distance. Improved position information when the order is filled, are just a few of the enhancement implanted in this new version.

 

 

The Market Order 3.0 cBot will open an order when started, if made active. 

 

 

Supports all currency pairs. There are a few parameters that the trader need to enter for the setup to be complete. When the setup of the parameters are done, start the cBot in an inactive state to insure the setup is done correctly.

 

Color coded to give the extra security if the setup is a Buy or a Sell order. The order that will be placed must have a label, a stop loss and profit target assigned to it (mandatory). A comment can be assigned to the order as well (optional). If the desire is to close the position when the cBot is stopped the parameter "Close Position on stop" can be set to "Yes". This can be an advantage if the trader desire to have the opening and the closing of the position in the same cBot. 

 

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 defined, 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 made active and the order is placed, all the crucial information of the market order position is displayed on the screen!

 

The Market Order cBot can be positioned anywhere on the screen, especially if you detach the window in cTrader. It can easily be resized to fit your workspace. Several Market Order cBots windows can be running at the same time, handling 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 3.0 default setting in cTrader.

 

marketorder3.0-basicdefaultsetup

 

Default setup in cAlgo.

 

marketorder3.0-calgo-default

 

Inactive setup with breakeven and trailing enabled on a Sell order.

 

marketorder3.0-sellsetupunactive

 

A Buy order placed, before the breakeven and trailing is hit.

 

 marketorder3.0-positioninprofit

 

The same position when both the breakeven and the trailing triggers are hit.

 

marketorder3.0-breakevenandtrailinghit

 

 

A setup of an order in inactive state, with some warnings.

 

marketorder3.0-warnings

 

 

 

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.

 

Active

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

 

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.

 

Profit Target

When the order is placed a target has to 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. The target information on the screen displays if it is based on pips, percentage or amount of the account balance. Default is 40 in pips.  

 

Stop Loss

When the order is placed a stop loss has to 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 moved above breakeven, the Risk will display commission plus spread.  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. 

 

Breakeven

If selected, the trigger and the additional add to breakeven are displayed. When the trigger is hit it will change to a highlighted color, with a ">" sign visible on the screen with the information that the stop loss move is made. The breakeven trigger and the add to breakeven (optional) are set in pips. Default are 0 on both.

 

Trailing

If the trailing is enabled it will be visible with the trigger amount and the distance of the trail. When the trailing is hit it will change to a highlighted color plus a ">" sign to inform that the trail trigger is hit and active. Both the "Trailing Trigger" and "Trailing Distance" needs to be entered to enable the trailing. The trailing trigger and distance are set in pips. Default are 0 on both.

 

Risk

When a market order is prepared or is opened 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 the stop loss is moved above breakeven, the Risk will display commission plus spread. The history on the pair has to have at least one trade made to be able 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 has to be assigned (mandatory). It will be visible under "Positions" when open and under the "History" tab Label when closed. The label name entered has to be an original name and not the same label name as in any other open positions. The cBot will search for the label name to be able to execute and give the accurate information. If the label name selected (or is left empty) or is already taken in any open positions the cBot will give a warning or stop and give a notice in the log file. Default is "My Label".

 

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.

 

Close Position on stop

When the cBot is made active (Yes) there is a choice between closing or keeping the position when the cBot is stopped.  If selected "No" default, the position will not be closed. If selected "Yes" the position will be closed when stopping the cBot. This can be an advantage if the desire is to have an opening and a closing of a position in the same cBot.

 

 

 

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Market Order 3.0 with the chart made visible.

 

marketorder3.0-chartvisible

 

 

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