STIG Trader is a trade management software program for FOREX traders. It acts as a trading aid for both novice and experienced MT4 traders, by simplifying the many challenges of manual trading. It also integrates with fully-or semi-automated trading systems.
At a basic level it accurately calculates trade size, applies the stop-loss and take-profit based on volatility, and then manages the trade with a trailing stop. This frees up traders’ time to focus on what is important to them – looking for trading opportunities.
At a more advanced level it has a range of other modular functions, including the ability to:
- Accept trade entries from various sources eg manually generated orders, via trend lines, CCI Oscillators or Fibonacci retracements.
- Manually or automatically allow the trader to control the trades as they progress eg stop-losses can be slowed down once break-even is reached, allowing for more profit.
- Manage multiple trades simultaneously.
- Pyramid and sale in positions.
- Use trade size variations to automatically recover losses.
- Pyramid and Scale in positions.
- Integrate with signal generators to create semi-automatic or fully-automatic trading systems.
- Act as a trade simulator to improve trading skills and test trading strategies.
As the functionality on STIG Trader is modular, a trader can choose what works best for his/her particular strategy. Novice traders will benefit from the basic functions of the STIG Trader Basic edition, while intermediate and experienced traders will appreciate the more advanced functions of STIG Trader Pro.
It is certainly possible to trade effectively by using only a few features, though, as with any professional tool, the more you know about the equipment you use the more effective you can be.
The Basic Edition Is Full of Function
The different features or functions of STIG Trader Basic Edition include:
- Basic Functions for manually taking trades, using a trailing stop, and closing trades at planned take profits.
- Trade size calculations and Loss Recovery functions, which provide accurate trade sizing and ensure that trades achieve positive results. This frees the trader from having to make constant calculations.
- Extension functions which make it easy for a trader to make more of the trade by slowing the stop-loss and moving the profit when a trade has achieved pre-set targets.
- Trend Line tools where the trader can set up semi-automatic entries that will trigger when certain conditions are met.
- A trade simulator function which works within Meta Trader’s Strategy Tester. In general MetaTrader’s Strategy Tester is only used to test a robotic Expert Advisors. However STIG Trader is capable of working as a trade simulator, providing an invaluable asset for a novice trader to gain a experience more quickly than real-time trading would allow.
The Pro Edition Provides Even More
- It offers the capacity to work with multiple positions and use STIG Trader to scale in and pyramid into positions.
- The ability to scale out of positions, which is a practice that many traders use to protect their trade and put some money in the bank so that the trade becomes risk free quite early.
- The CCI entry tool and the Fibonacci entry tool provides additional ways to take advantage of the market and allow trades to be set up in advance to only trigger when certain conditions are met.
- Signal Generators that automatically place trades, turns STIG Trader into an algorithmic or robotic trader. A signal generator is provided with STIG Trader which traders can use to develop their own trading ideas and Expert Advisor (EA) with the help of our programmer. The cost of developing a new entry system with STIG Trader would be a fraction of the cost of developing an EA from scratch.
Watch it Working
The following short video clips demonstrate a number of the features of STIG Trader. The features listed under STIG Trader Basic are found in both versions, while the features listed under STIG Trader Pro are found only in the Pro version.
The videos are quite short, about 2 minutes each, and do not have sound. It is best to maximise the videos (button on bottom right of each video thumbnail) to watch them properly.
STIG Trader Basic Features
The High Frequency Trader (01:59 min)
STIG Trader is being used by a trader who looks for frequent small gains. Traders who work with slower strategies will work with STIG Trader in the same way.
Scaling Out (02:57 min)
This video shows how STIG Trader splits trades into three parts and apply different take-profits to each position to create a planned scaling out. The trade is then be managed by STIG Trader and the trader can go on to look for new entries on other charts.
Loss Recovery (02:17 min)
Loss Recovery is one feature that can be used to recover from losing trades. It is a useful tool to have, though it should be used with care and an understanding of how it works.
Trend Line Entry Tool (01:29 min)
The Trend Line Tool allows the trader to apply a trend line to the chart and have it work much like MT4′s ‘pending order’ functionality but with more flexibility. Like a pending order, the lines can trigger stop or limit orders, but unlike pending orders, the lines can be drawn diagonally so that the planned entry price changes with the line. Additionally, if a line has an endpoint, the validity of the order will only last for as long as the line lasts.
STIG Trader Pro Features
Fibonacci Entry Tool (03:38 min)
The Fibonacci entry tool involves drawing MT4′s Fibonacci tool on the chart. It is then taken over by STIG Trader and expands the Fib tool if required and triggers entries at the retracement level previously specified by the trader.
Pyramiding (02:09 min)
This video demonstrates pyramiding as a means of gaining extra profit while risk exposure is reduced.
Scaling In (02:26 min)
This video demonstrates how STIG Trader handles scaling in, particularly taking care of all the calculations that can make this practice difficult.
Signal Generator (01:58 min)
A signal generator can be applied to the chart while STIG Trader is running and then it will be capable of generating entry signals that the STIG Trader will act on. It turns STIG Trader into a fully automatic trading program.