In order to be a successful trader, you need good money management, which is why I’m giving you a Forex indicator for MT4 that does just that.
This is a part of trading that gets talked about very little, despite being incredibly important.
If you don’t calculate lot size and risk properly, you are leaving profits on the table, and often risking way more than you should.
To learn how to use this free Forex indicator, watch this video now:
Free Money Management Forex Indicator
In this video today, I’m going to make you stop blowing your trading accounts. I’m going to do that by giving you access to the best Forex indicator available for free. All I expect from you in return is for you to like the video, subscribe to the channel and watch to the end of the video, because that’s where I’m going to give you free download access to this incredible Forex indicator.
There are many ways you can lose money day trading Forex. That’s just the nature of the beast. You can use bad signals. You can simply have no idea what you’re doing. You could use a bad robot or install a robot improperly, but the worst way to lose money trading Forex is simply having bad money management. And I see this all the time.
I see traders trading 30% to 40% of their capital on a single trade and not being aware that they’re even doing it, which is why money management is incredibly important. And it’s why I’m giving you a free Forex indicator. That’s going to solve all of those problems for you today. So let’s get inside, I’ll pull up the green screen and show you exactly what I’m working with.
MT4 Indicator Introduction
Here we are in my MetaTrader 4. This is a free platform that’s required in order to use the best Forex indicator. First thing I’m going to do is show you how to use it, show you why you should be using it. And then I’ll give you free access, show you how to download and install it properly. So let me just go and put it on the chart. You can see it’s called FRN money management. I’m just going to drag and drop it onto the chart. Very easy. You can see the about page, the common, these things don’t have to be changed.
And then you have the inputs page. This has all of the different settings. You can change some of these things, but they’re not required. Most of these things, you could actually change within the indicator. So it’s not a big deal, but if you want to change the colors, if you want to change the size, there are some visual things that you can change. So let’s just put it on the chart and then show you exactly how it works.
Money Management Indicator Analysis
Now you can see, I have the best Forex indicator on the chart. You can minimize it or maximize it by clicking on this button. And then you can go through all the different features. Now, the first thing you want to do is set whether you’re a buy or a sell trade, then you can set whether you want the market execution, a buy stop, a buy limit if you’re doing pending orders. For this example, we’ll do a market execution. So in this example, let’s say we want to place a trade that’s worth about 5% of our account, which means the max we can lose is 5%. I would come down to this risk area and I would plug in 5%. Then I would plug in my stop loss and take profit. This you would probably do first. It really doesn’t matter the order.
Let’s say I want to stop loss of about 20 pips. I would put 200 in here because this is in points. It’s going to draw it on the chart. And then for my take profit, let’s say I want something like, you know, 500. This is about a risk reward ratio. It will show you one the chart. This is a 1 to 2.5 risk reward ratio. This is the type of risk reward ratio I give with my Forex signals. So that’s why it’s a good example. You can see it will draw on the chart and then it’ll actually tell you the recommended lot size is 1.68, and that’s the lot size that’s going to either lose us the 5%. That’s what we’re risking, which is $304. Or we would gain in this example here $760 based on these numbers.
I use this best Forex indicator on a daily basis so that I set my lot size properly. And I don’t accidentally end up taking trades that are too large, 20 to 30% go on a losing streak and end up blowing an account because it can happen if your money management stinks. Let’s say for example, you’re part of my signal service and I send you a trade. Let’s take a look at how that would look like.
So you could actually do this on a market execution. It doesn’t matter because you’re not placing the trade through the indicator. So let’s say for example, you would set the SL and TP by price rate here, and then I would send you something like, okay, let’s say stop loss at something like, something like this. Okay. That’s where your stop loss is. And then I would send you a take profit. Let’s say something like, like this, you know, just for example’s sake, risk reward ratio. I actually probably gives you, you know, I usually provide a much better risk reward ratio something more like this, you know one to two, one to two and a half, sometimes a one to three. We actually won a one to five, a couple of weeks ago. It was great. And we actually hit 10% last month.
So if you were risking 2% per trade, that’s a 20% month. If you’re risking 3% trade, that’s a 30% month. Don’t risk, 10, 20%. Don’t over leverage. That’s where you get in trouble. But here’s an example of a signal I would send you.
So it would actually tell you, this is the risk reward ratio. You can set your risk profile, let’s say for this trade, we want to trade 10%. I don’t recommend that. But then it will actually tell us the recommended lot size, just click recommended lots right here. And then it’ll show you mapped on the chart again, how much we could lose. $600 is how much we could lose. $1,000 is how much we can win. And this shows us, this is what we’re risking on 10% of our account. If that’s too much, which in my opinion, 10% is way too much. Don’t do that. You’ll get mad at me if I lose a single trade. But let’s say you want to trade 3% portrayed. You just go set that to 3%, click on recommended lot size, right here. It’ll tell you the lot size so that when you’re placing your trade, you can use this lot side. And you will know that you’re either gaining around $300 and losing 3% of your account, which in this case is around $182.
Download the Free Forex Indicator
To get access to the best Forex indicator, all you have to do is go to the link in my description (click here to join). It will take you here to my free Forex telegram. I give a free Forex signal here every single day. And I have over 11,000 subs in just a few months. We’re all profiting together. We’re all winning trades. And now if you want the best Forex indicator, just go to the top here, click where it says, click here for more signals. And it’ll take you to an area where you can access my VIP signals, my YouTube channel, my robot tests, the brokers that I’m using, and right here at the bottom, you have the best Forex indicator download. All you have to do is click on this link. It will open up the download in your web browser. Then you have the file right here. Perfect. It’s an EX4 file. It’s very easy to install.
Install the Free Forex Indicator
Now, the next thing you want to do is go into your MetaTrader 4 platform to install it. Again, this is really easy. Just click file, open data folder. That’s all you’ve got to do. Now you have the data folder on your screen, click MQL 4, then click indicators. And now you’re going to take the file that you downloaded, which was this file right here. And you’re going to take that and you’re just going to drag it and drop it into the indicators folder right there. Perfect. Simple. Now it’s installed. All you have to do is go into the navigator. If you don’t have that open, just click on these buttons up here. That’ll open your navigator. Right click, click refresh, and you’ll see FRN money management. And now you have it installed. You can open up a chart, you could drop it on the chart. You could click, okay and now there it is. You can use it. You can modify it and it’s available to help you make better trading decisions and stop taking stupid risks.
I already told you, I’ve got to put the Porsche in every single video that I do. So here I am. You now have the best Forex indicator available. The free download is at your fingertips. So please join the free telegram, take advantage of some of the free signals. Use the free indicator and make better trading decisions.
As for Forex robot nation, my signal service is going very well. Forex fury is performing very well. And if you ever need any help or any requests at all for me, just shoot me a message. Email me, comment on the video. I actually respond to people and I’m around. So I don’t know. Go ahead, get some money guys.