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Advantages of scalping on cTrader

Tradewell

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Advantages of scalping on cTrader


There are some situations when it may be necessary to start to take profits at predefined profit areas. Assume you have a long trade which was set up based on pivot points at the S2 level, you would naturally take profits at S1. But supposing there is a strong fundamental influence on the market which can possibly take the market to the central pivot and the R1 areas before exhaustion. The Advanced Take Profit function of ctrader allows your trade to achieve these extra profit targets as well automatically. You can scale out of a profitable position by using up to 4 different take profit levels per position.
With MT4 there is no automatic scaling out. You have to do this manually, which means you must be on your charts for hours on end, monitoring the trade. This is quite a tiring process and we all know that fatigue is the perfect trigger for errors of judgement, which inadvertently lead to losses.
Also, in ctrader , the trader can tell the platform to start to trail the market when a particular number of pips in unrealized profits have been made, and then tell the platform at what distance from the market price the trailing stop should be set to. In Mt4, the trader has to wait until the trade has moved to a profit level that the trader is comfortable with, and then set the Trailing stop by a particular amount of pips. In essence, the trader can only set the Trailing Stop when the trade is active, and this has to be done manually. Only one type of trailing stops can be used, which disallows the use of individual strategies.
Finally, some traders use the Break Even strategy. In this strategy, the trader uses a two-tier exist system of trading in which half of a position can be closed when a certain profit level has been attained. The rest of the position is allowed to run while the stop loss is moved to the entry price for the trade, which is the breakeven point. ctrader allows you to set these parameters before the trade is executed. The price automatically adjusts for broker commissions, and trigger points can be set in pips. Mt4 has no breakeven functionality built in.
There are many many others advantages ctrader has over mt4 but I don't want my response to get too long to read. It is quite long as it is. ctrader works the best for me.

MT4 is lacking compared to cTrader.
Not that many broker offer cTrader as of yet but most broker offer MT4.
MT4 has more indicator, EA and script compared to cTrader.
cTrader is marketed as purely ECN oriented trading platform.
Download both and try which one suit you the best.
 

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