Advanced tools in trading (high-power trading tools) represent a set of digital instruments that are designed to help traders automate trading steps and short-term strategies. A great example of short-term strategy automation is the automation of the Martingale strategy. On 4Bulls, high-power tools are located in the “Smart Trade” section of the platform. Below is the list of main tools offered in the “Smart Trade” section of 4Bulls.
Static and Dynamic Orders
On 4Bulls, users can choose between static and dynamic orders. “Static” orders represent basic limit orders; with basic limit orders, the user can specify a certain price at which the order must be filled. This type of order is called “static,” as the system does not dynamically change the price of the positions. So-called “dynamic” orders are represented in the form of dynamic trend lines, where prices of orders get determined dynamically upon touching these trend lines.
Advanced Buy, Take-Profit, and Stop-Loss Orders
If a trader has a specific zone in which he or she would like to create an order book of several “Buy” orders, he or she can first create a “Buy” order and then click on “Buy Step.” By clicking on “Buy Step,” the trader will duplicate the “Buy” order line in just a few clicks. The trader can then determine a specific location for his or her “Buy” order by dragging the line.
Just like a “Buy” order, one “Take-Profit” order can also be split into several “Take-Profit” orders. That, again, depends on the trader’s strategy.
“Stop-Loss” can be split into several orders, too. Sometimes, we do not want to sell 100% of our position at a specific “Stop-Loss” level because there is a chance that the price might bounce back to a higher level. In these situations, when we do not want to exit the position 100%, we can create an advanced “Stop-Loss” order with several “Stop-Loss” levels.
In the settings of each order, there is a switch that is called “Trigger-Start.” The “Trigger-Start” feature allows the trader to keep his or her balance available for an extended period of time, up until certain requirements are met by one of the trading pairs of interest. When the trading requirements are met, the “Trigger-Start” feature places an order automatically at a specific moment of time, following the configurations that were set by the trader.
The “Trigger-Start” feature allows the trader to use his or her balance to its maximum level of efficiency and to jump into a trade at the best moment (not too early and not too late).
With “Take-Profit” orders, we can apply a “Trailing-Stop,” which means that a “Take-Profit” order will not be executed automatically once the price action hits the “Take-Profit” price value. Instead, the automation tool will follow the price pump; then, the automation tool will execute the order once the price drops by a certain percentage below the peak price. The “Trailing-Stop” feature is critical when it comes to maximizing profits. A more in-depth explanation of this feature will be offered in the “Tutorial Page” after the launch of the platform.
Now, let us talk about another excellent automation tool, the “Fib Bot.” This piece of functionality helps automate Fibonacci strategies. It is particularly helpful in cases in which a trader wants to automate the Martingale strategy (to trade between the Fibonacci levels effectively). A full explanation of the “Fib Bot” will be available in the “Tutorial Page” after the launch of the platform.
The above features (and many other ones) will be accessible on 4Bulls following the platform’s launch. Each feature will be explained on our Tutorial Page. If questions arise, please do not hesitate to contact our team. We are here to help.