Introduction
Welcome to the world of automated trading with TPSpro Risk Manager. This guide will walk you through the installation, setup, and optimization of this trading robot. For those who love data, detailed statistics can be found on Forexeasy Robot TPSpro Risk Manager. Let's get started.
Installation and Setup
So, you're eager to get TPSpro Risk Manager up and running? Follow these steps for a smooth setup:
- Download the TPSpro Risk Manager EA from MQL5 or your preferred source.
- Install the EA into your MT5 platform. Usually, this involves copying the .ex5 file into the 'Experts' directory and restarting MT5.
- Apply TPSpro EA on your desired trading chart. Open the chart, right-click, and select 'Expert Advisors' -> 'Attach to a chart'.
- Configure settings according to your risk management strategy. Make those features optional as one user suggested, so you don’t overwrite Stop Loss (SL) on other EAs.
- Enable Algo Trading. Ensure that the 'Algo Trading' button at the top of your MT5 platform is activated.
A few clicks and you're set, more or less. But remember, this is just the beginning.
Usage Experience
With a user rating of 3.67, the TPSpro Risk Manager has its ups and downs. Johannes Petrus Berbee points out the lack of support and some conflicts, while Deeyana Andjelovic and Azabai seem quite pleased. From my perspective, if you’re expecting a miracle, you’ll be disappointed. This robot does what it says, no more, no less.
Tips for Improvement
Here are a few nuggets of wisdom for getting the most out of TPSpro Risk Manager:
- Test In Demo Mode: Before going live, test the EA thoroughly in a demo account.
- Adjust SL Settings: Customize the Stop Loss settings to avoid conflicts with other EAs.
- Regular Updates: Keep an eye out for updates from the developer (if they ever do respond).
- Backtesting: Always backtest the EA on historical data to gauge its performance.
Source Code of TPSpro Risk Manager
Unfortunately, we don't have the source code of the original TPSpro Risk Manager EA as sold on MQL5. However, based on its description, our team could create a similar code. Visit our forum at easytradingforum.com for more details.
Code:
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Ready to take the plunge? Download TPSpro Risk Manager Trading Robot and start optimizing your trades today. If you have any questions about the example code we provided, feel free to ask. Remember, the EASY Trading Team does not sell the TPSpro Risk Manager; we’ve created a robot based on its description to help you get started.