The MT4 Trade Placement Tool I Use And Why

There is a trade placement tool I want to tell you about that can really simplify your trading… and keep you from making costly mistakes.  I personally use Metatrader4 as my platform of choice.  The broker I use for a lot of my live trading is IC Markets.  I have not found a compelling reason to switch to any other trading platform.

I think most people start out using the Metatrader4 platform.  It is the most popular and is free from most brokers.  So, it is very easy to get started using a demo account (although I don’t recommend staying with a demo account for long).

But there is another reason I have stayed with MT4 as my platform of choice.

You see, since it is the most popular, there are a lot of indicators, trading tools and software designed to work with this trading platform.  And the trading tool I want to talk about today is called Trader On Chart.

Trader On Chart

Trader On Chart is a Metatrader4 Trade Placement Tool.  I personally find placing trades the regular way a little unconformable in MT4.  Just a few too many steps for my taste, and too much calculation necessary on my part to get the money management right for each trade.

Here is a video showing why I use Trader On Chart and why:

Did you see the part where Trader On Chart actually SAVES me a lot of money on trading costs?

If you know anything about me and my style of trading, you know I don’t like to spend a lot of time on my trading.  The way I see it, the less time I spend on trading, the more profitable my trading is in terms of my time.  Put another way… if I spend only a few minutes a day trading and am profitable, then it makes my trading seem worth it.  (On the other hand, if I spend hours slaving way and am profitable, it just doesn’t seem worth it).

Not to get off the point, but it is of the utmost importance your earnings EXCEED your efforts if you want to be a long term, successful Forex trader.  If you want to see an example of how I trade, go here.

Anyway, Trader On Chart helps me place my trades easily, accurately and with the proper money management I want to use.  I trade every day with this tool and find it invaluable to my success.  If you are using Metatrader4, I would highly consider adding this Trade Placement Tool to your toolbox.

Learn More About Trader On Chart