Setup & First Steps
The Premium Trade Manager turns a trade you decide on into a fully managed position from one chart panel: it sizes the trade to your risk, places a structural stop, scales out at staged targets, trails the stop, and keeps you inside your prop-firm limits. You pick the direction and the moment, and the panel runs the routine.
Setup:
- Attach the Premium Trade Manager to any chart
- Enable Algo Trading in the MetaTrader toolbar
- Set your default risk in the Settings tab (Risk %, or a fixed lot)
- The panel appears with the order builder and your Entry, Stop, and Take-Profit lines on the chart
If a trade cannot fire, the Order tab names exactly which of MetaTrader's four permission layers is off and how to switch it back on.
Switch On Max in the Panel
Version 2.0 builds the Max trading coach straight into the panel. A Max button sits next to Execute: click it before you fire, and Max runs a pre-trade check on the exact trade you set up, your stop, your risk size, any high-impact news close by, and how much room your prop limits still leave. The answer comes back in your language, right on the chart.
Max needs an active Stein Investments membership. Once you have one, three steps switch him on:
- Generate your Max key. On stein.investments open Profile, then the Max section, then API Keys, and create a key (it comes pre-named "Premium Trade Manager"). Copy it right away, it is shown only once.
- Paste the key into the panel. In MetaTrader, open the Premium Trade Manager inputs and put the key in the "Max API key" field, under the "Premium Trade Manager - General" group.
- Allow the two web addresses MetaTrader needs. Tools, Options, Expert Advisors, then add https://stein.investments (for Max) and https://revden.io (for the live news feed).
The panel checks all three for you. If the key is missing or an address is not allowed yet, the Max drawer names the exact step and picks up on its own the moment you add it. No membership yet? Start at Membership; without one the panel still runs as a full trade manager, just without the Max check.
Your First Managed Trade
- Drag the Stop-Loss line to your level, or let the ATR stop place it for you
- Drag the Take-Profit line, or set a target as a multiple of the stop distance
- The panel shows lot size, risk in account currency, and the R:R ratio live, before anything is sent
- Click BUY or SELL
- The Premium Trade Manager opens the trade at your exact risk and takes over the management
Take Profits: One Target or Staged Exits
You have two modes. A single target sits at a chosen multiple of the stop distance. Partial Take Profits scale the position out in up to four stages, each with its own R-multiple and its own close percentage.
The close percentage is how much of the position closes at that stage, taken from the original size. It adds up across stages, and the final stage closes whatever is left. So for a 1R / 2R / 3R plan:
| Stage | R-multiple | Close % |
|---|---|---|
| TP1 | 1.0 | 33% |
| TP2 | 2.0 | 33% |
| TP3 | 3.0 | the rest, closes automatically |
The panel banks a third at 1R, lets the rest run, banks another third at 2R, and the final third runs to 3R. Any split works (50/50 over two stages, or 25/25/50). Keep the early stages below 100%, so a portion is left to run. Setting an early stage to 100% closes the whole position the moment that stage is hit.
Since MetaTrader holds one Take-Profit per position, the panel shows the final stage as the broker Take-Profit and runs TP1 and TP2 internally as partial closes when price reaches them.
Trailing Stops
Seven methods, each configurable on its own. Every method moves the stop in profit direction only; once advanced, it holds.
| Method | What it does |
|---|---|
| Break-Even | At a set profit in R, the stop jumps to entry plus a small offset |
| Classic | Once in profit, the stop follows at a fixed distance |
| Step | The stop locks in discrete R-steps (1R locks break-even, 2R locks 1R) |
| ATR | The stop trails at an ATR-based distance that adapts to volatility |
| PSAR | The stop follows Parabolic SAR, wide at first and tightening with the trend |
| FX Trend | The stop sits on the FX Trend line, giving the trade room while the trend holds |
| Smart Stop | The stop follows the structural pivots that Smart Stop reads |
FX Trend and Smart Stop are built straight into the panel and ready to use as they are.
Stop-Loss Sources
The initial stop can come from ATR (adapts to each symbol's volatility, the recommended default), the FX Trend line, a Smart Stop pivot, a manual chart line, or a fixed point distance. When Smart Stop finds no usable level at order time, the stop falls back to FX Trend and then to ATR, and the chart label shows which source set it.
Protection Layers
- News blackout: a live economic calendar (via the REVDEN feed) blocks new entries around high-impact events. The window before and after is yours to set.
- Daily loss limit: at your set daily drawdown, the protector closes the panel's own positions and locks trading until the next day.
- Prop-firm compliance (v1.3): a dedicated PROP tab covers the rules of the best-known forex prop firms. Pick your firm, program, and account size, and the panel shows live how far you are from each limit (daily drawdown, max drawdown, profit target, trading days) and blocks new trades at the hard limits.
Manual Trades and Other Expert Advisors
Premium Trade Manager can take over trades that came from somewhere else: the ones you place by hand in MetaTrader, and the ones another expert advisor opens. It takes one setting. The Magic Number input decides which positions belong to the panel. Manual trades carry Magic Number 0, so setting the input to 0 hands them over, and entering another expert advisor's Magic Number puts its positions under management instead.
From there they behave like any other managed trade. They show up in the Trades tab, and everything the panel does reaches them: break-even, the seven trailing methods, staged partial exits, the bulk actions, the schedule, the daily loss limit and the news blackout. In All-Symbols mode one instance on a single chart covers the whole account.
Three things to know before you switch:
- One instance per Magic Number. Two panels sharing a Magic Number manage the same trades and send duplicate changes. The tool warns you at start when it finds a second instance.
- With Magic Number 0 the panel's own orders carry 0 as well. Its trades and your manual ones then share one identity, which is what this use case asks for.
- The R multiple comes from the stop. A row shows R and the risk in account currency as soon as the position carries a stop; until then it shows the pip distance. Set a stop from the Trades tab and both appear.
Positions with a different Magic Number stay untouched, so the panel manages exactly the book you point it at.
Practical Tips
- Risk % sizing keeps every trade at the same fraction of your account, whatever the stop distance.
- All-Symbols mode lets one instance manage every position carrying its Magic Number, across all symbols. One instance is enough.
- Bulk actions close all winners, all losers, or everything, and set break-even or stops across every open position at once.
- The panel's statistics show day P/L and drawdown for the tool's own Magic Number, so the figures reflect the trades it manages.
When to Ask Max
For any "what does this button do" question, ask Max, the AI trading coach built into stein.investments. Max knows every setting and the current version in detail and answers in your language, so you get a focused answer the moment you need it. The virtual tour gives you the first overview of the panel.