Home Forex Service Review MV Forex Trade Manager Review

MV Forex Trade Manager Review

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MV Trade Manager is an automated Expert Advisor that can be purchased on the mql5 marketplace. Its author Mahdi Vaseghmanesh has published 13 products in total. The EA was launched on April 15th in 2016 and was most recently updated to version 1.7 in October of 2019.

Overview

MV Trade manager is an automated trading robot with automatic stop loss and take profit, trailing stop, trailing step, breakeven, and automatic stop when a position reaches a specified profit or loss percentage. We know that it works with the pair EURUSD on the H1 timeframe, but the author doesn’t specify whether other timeframes/instruments are used. This EA also offers the ability to create your own strategy in the MT4 strategy tester.

Service Cost

Traders can purchase the EA for $30 USD with 10 activations. There is no option for renting, but we feel that the overall cost is quite competitive for an EA that offers automatic trading. The developer doesn’t mention any prequalifications for one’s broker, so it seems as though this advisor can be used with any live account, although a lower spread is always helpful. Free demo accounts are also available.

Conclusion

MV Trade Manager is a trading robot that also offers the ability to create your own trading strategy when backtesting. The EA was given a 4-star rating, but only has one review, which we found to be very informative:

“I would have given this 5 stars, except that this product caused me to lose 8 trades today and ruin my 100% win record! Where you input your SL and TP the settings state “Pips”, however, you actually need to input your SL and TP in Points! Hence many of my trades got stopped out today after a perfect run since the beginning of July 🙁 Developer needs to CLEARLY indicate settings. Other than that, it’s a good tool.”

It’s quite possible that the mislabeled settings that confused the above user have been fixed, as the EA has been updated 4 times since the comment was made, but the “What’s new” panel does not clearly specify whether this was fixed. While this is somewhat off-putting, do pay attention to the user’s statement that she had a 100% win rate before this problem caused losses. As long as you keep a lookout for that problem, then this EA could definitely rake in profits when used wisely with a good broker.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/15866

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