Trade Gatekeeper

About this widget

Most rules which a trader breaks are not a question of opinion. They are numbers: too much risk, a spread which eats already half of the stop, a sixth trade on a five-trade limit, a high-impact release in twelve minutes. Such things should not depend on whether you remember in the moment to ask yourself about them. This widget asks you nothing. It reads the account, the open trades, the actual price and the economic calendar, and then it calculates. Pro tip: Put the Gatekeeper on a page next to a chart, and switch on “Synchronize market selection” for the page. When you then change the symbol on the chart, the Gatekeeper follows directly. You input direction, size, stop and target in pips. Under each tile you see directly the entry price, where the stop and the target lie, and how much money each of them means. Then are twelve rules controlled, live and with every tick new: Live price: a quote older than your limit means that the market is probably closed. Stop-loss: must be set, if wished within a minimum and maximum distance. Spread: as percent of your stop, in pips, or both. Size: inside the minimum, maximum and lot step of the broker, and under your own cap. Risk on this trade: the loss until the stop, as percent of equity or of balance. Reward : risk: distance to the target against distance to the stop. Total open risk: all open trades until their stops, plus this one. Already one open trade without stop can let the check fail. Open trades: a maximum number, this one included. Position on this market: to add to it, or to trade against it, only when you allow this. Free margin: a minimum as percent of equity. Daily loss: the closed result of today, if wished with the open P/L, against the balance at start of day. Economic news: no event for the currencies of the market inside your window before and after. As long as one active rule fails, stays the main button grey, and a red frame on the tile shows you which input you must correct. When all passes, opens the deal ticket, pre-filled with exactly what was controlled. It stays fixed on the same market and carries a note with the time of the control. If you prefer, the widget sends the market order also by itself, per default with a confirmation before. In both cases the rules are controlled one more time in the moment of the click, and not only with the last tick. Every rule can be switched off and every limit can be changed in the Rules dialog. A rule which is off can never block you, but the widget says openly how many are off, also in the note on the deal ticket. The rules are shared between all copies of the widget, so that your limits are the same on every page. What it does not do, is to judge your setup. If the entry is good, this is still your work. It makes only sure, that a good idea is not carried out with the wrong size, or in the wrong moment.

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