24 May AtoZForex, Lagos — Tradable has added another remarkable function, as it gravitates towards rivalling metaquotes’ metatrader as a trader’s choice platform. The new trading function is called “Autosplitter”. It gives traders the ability to conveniently manage risk by automatically attaching protective stop loss and take profit levels to trades. This could drastically enhance trading results as it saves traders the burden of manually setting up stop loss and take profit levels. A function which often causes traders to incur large losses or allow profits evade. Therefore, traders can now put more emphasis on finding and executing trades as Tradable adds Autosplitter .
This tool is ideal for advanced trade management methodologies. It allows for partial profit taking to secure initial gains while letting the rest of your winning position run.
Tradable adds Autosplitter
The Autosplitter allows traders to customise stop loss and take profit levels for individual instruments (SET A). While traders who trade on different time frames or apply multiple strategies and need more flexibility can also set alternative levels (SET B).
It works such that traders need to include their traded instruments and set up their parameters in the app to protect their orders. Then select which SET to apply and make sure Autosplitter is not only added to the workspace but is also enabled by pressing the ON button. After these steps, Autosplitter instantly applies the preset stop loss and take profit orders defined by you.
Another useful feature of the Autosplitter is the ability to set multiple take profit orders. As noted by Tradable: If you would like to take partial profits and scale out of a position gradually set an initial (Take Profit Low) and a last take profit level (Take Profit High). To confirm these levels change Count to 2. Setting Count higher will add extra take profit levels in equal distances inside the Take Profit Low and High range.
Step by Step on setting up the Autosplitter
- Add Autosplitter to your workspace.
- Open the AppStore in the top left corner, under Categories select Automated Trading.
- When the app list expands look for Autosplitter, click on the app and press TRY+.