In this post I will be reviewing the Trader On Chart trading tool. Trader On Chart is a very useful manual forex trading tool that gives you a more convenient way to place trades on MetaTrader 4. Trader On Chart runs on your MetaTrader 4 trading charts ready for you to make your commands for opening trades with your pre-set settings. It is very user friendly and easy to use with detailed instructions and tutorial videos included. The dashboard displays all settings directly on your chart so you simply enter your pre-set values and hit buy or sell when you are ready.
In this Trader On Chart Review, I will be taking a closer look at this forex trading tool to see exactly what it is and how it works. Hopefully, this will help you to make a decision if Trader On Chart is something that you would like to implement as part of your daily trading routine.
Trader On Chart Features
Trader On Chart is a Position Size Calculator and MT4 Trade Panel that help you trade easily from the chart on MT4 Desktop. With Trader On Chart, you can open trades 10 times faster in one click because it will calculate lot size automatically based on your preset stop loss, take profit and money management settings. Trader On Chart is a MetaTrader 4 plugin, and it comes as an Expert Advisor. You can attach it on up to 100 MT4 charts of any instrument or timeframe. Installation is straightforward and takes less than 5 minutes.
The main feature of Trader On Chart is the speed in which you can place trades. It also includes pre-set stop loss and take profits for your orders, trailing stops, break evens, ability to schedule trades in advance, place straddle orders in just one click and auto set your position size and much more. Another fantastic feature allows you to open trades during visual back testing simulation mode in the MetaTrader 4 strategy tester.
Before Trader On Chart, you had to do all the lot size, stop loss, and take profit calculations manually. And even if you had some Excel formulas ready you’d enter trades too late most of the time.
But with Trader On Chart, you can trade easily right from the MT4 chart. That’s because Trader On Chart allows you to preset your trade details like lot size, stop loss, take profit, breakeven point, trailing stop, etc. Once you preset the settings, you can open a trade or place a pending order in one click.
Auto-calculate position size
Trader On Chart will calculate the exact lot size for your trade according to the stop loss size and your available account equity. If you chose to risk 1% per trade, it means TOC will set the exact lot size so that in case your trade hits stop loss you lose no more than 1%.
Trade easily from the MT4 chart
Trader On Chart allows you to preset your trade details like lot size, stop loss, take profit, breakeven point, trailing stop, etc. This way you can open trades faster with just one click.
Easily catch price breakouts in either direction
Trader On Chart allows you to create straddle pending orders. It means it can place BUY STOP and SELL STOP automatically with one click. Just set the desired distance in pips together with other order details and the TOC will do the rest. Stradle pending orders are prevalent among breakout traders and news traders.
Smart Break Even
With the Trader On Chart, you can apply Smart Break Even to your trades which helps you cover the expenses of commissions and swaps automatically.
Regular break even is not enough to cover the expenses of a trade if you decide to close it at the open price. It might still be a loser because of the broker commissions and negative swap fees.
Trader On Chart Packages
Trader On Chart has a monthly plan or annual plan. All licenses are for unlimited MT4 accounts, simultaneous use on 1 computer and allow license transfer to a new computer anytime. You can save more if you subscribe for the long term but I think it would be better if they provided a free trial so that potential users could give it a try before making a commitment.
- Monthly plan: Your initial charge will be €15. After 1 month you will be charged €15 for each month until you cancel the subscription.
- Annual plan: Your initial charge will be €120. After 1 year you will be charged €120 for each year until you cancel the subscription.
Trader On Chart Summary
Overall, this is a very useful tool that can speed up the trading process and make managing your trades a breeze. It can save you valuable time thus allowing you to get the entry price you want, the correct stop loss and take profit levels. It is very inexpensive and comes with full support and a 60-day money back guarantee but there no free trial.
Customer feedback shared on the website is quite positive, including the following from one user who states “I have been using Trader On Chart for the past six months. It is, without a doubt, one of the best pieces of software I have seen. I use it primarily to control my risk management, and I see it now as an essential tool in my trading toolbox. It works perfectly every time, and I would not hesitate to recommend this product to every trader that is serious about their trading.”
In order to use the Trader On Chart software, you will need a trading account with a forex broker. With so many forex brokers to choose from nowadays, it can seem very difficult to find a suitable option. If you are new to forex trading online and looking for some inspiration, please feel free to browse my best forex brokers for some inspiration along the way.
You could always start using the Trader On Chart software on a demo trading account to begin with. This could be a great way to familiarise yourself with how to use and get the most out of it. If you find that it is working well, you could always implement it within your own trading strategy to help you achieve your individual trading goals. There are many ways in which the Trader On Chart tool can be used, so it is important to try and see if it can work for you before making any commitment.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.