The QTrader Trade Signal Parser can listen to some of the Telegram channels of which you are member for trade signals. Linking a Telegram account to QTrader is easy.
When QTrader detects a new trade signal, it creates a trade plan for you. The trade plan displays you a clear picture of all the entry, the stop loss and the take profit prices, as well as the potential Reward-to-Risk ratio (RRR). You can then execute the trade plan on one or several of your connected trading accounts.
QTrader also understands position management instructions (such as “Move the stop-loss to break-even” or “Close half”) and allows you to apply them on the relevant trades in just one click.
Thanks to a powerful proprietary parsing algorithm, QTrader can auto-magically select the contract on your broker that matches the received trade signal. Check all the supported instruments.
For example, if you receive the message “GOLD SELL now at 1769 SL 1788 TP 1740”, QTrader will automatically understand that gold is at stake, and will select the right contract on your broker (it is often “XAUUSD” but may vary).
Per channel risk allocation
You can fine tune how much risk you allocate to each trade signal provider. For instance, you can easily define that a new signal provider you are not very confident with have a risk reduced to 1/4 (25 %) of normal risk, until you build a solid track-record for that provider.
You stay in control
Whether or not you execute the trade plan generated from the signal always remains up to you. Indeed, the trader you follow can always make a significant error when writing the signal. With QTrader, the mistake would appear so obviously by graphically reviewing the trade plan, that you can avoid or correct the signal, and thus protect your account capital.
- Futures and stocks are not supported.
- Market orders for entry are not supported. All entries must have a defined price.
- Only one entry, one stop loss (SL) and one take profit (TP) are allowed for each trade.
- Trades cannot be created without stop loss. (otherwise the automated position sizing would not work)
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