0
Before you start
Three quick things. Tick them as you go.
Words you'll see. Indicator = draws on your chart and doesn't trade. Expert Advisor (EA) = a program that can place trades for you. Sim = practice account with pretend money.
Guide · Start here · about 10 minutes
Which PrecisionFX tool should I use?One calm choice at a time.
By the end, you know which platform to use and which tool fits the job you have in mind. Nothing here installs anything or places a trade. Take your time.
~10 minstart to finish
6 stepstick each one off
No tradesreading only
Freeevery tool on this site
✓
You can't break anything doing this.
This guide only helps you pick. You won't download, install or connect anything. If a step doesn't fit your situation, that's normal: open the "Not seeing it?" box under it.
1
Pick your platform
The tools run inside one of two programs.
- If you trade in NinjaTrader 8, look at the NinjaTrader tools.
- If you trade in MetaTrader 5, look at the MetaTrader tools.
- Not sure which one you use? Open the program. Its name is in the top corner of its window.
- NinjaTrader 8: PFX SLM, PFX Copier, PFX Journal
- MetaTrader 5: PFX SLM, PFX SLM EA, PFX RGM, PFX Equity Shield, PFX Trade Copier, PFX Trade Manager, PFX Executor
Both tools are free. Pick the platform first. A tool only works in the program it was made for.
Not seeing it?
I use a different platform. The PrecisionFX tools only run on NinjaTrader 8 and MetaTrader 5 for now.
I trade on a broker's own app. The tools need one of those two programs. Check with your broker before you switch.
2
Say what you want the tool to do
Find your job in the table, then read across.
| Your job | Tool | Places orders? |
|---|---|---|
| See structure, gaps and levels on my chart | PFX SLM (NinjaTrader 8 or MetaTrader 5) | No, analysis only |
| Copy one account's trades to my others | PFX Copier (NinjaTrader 8) or PFX Trade Copier (MetaTrader 5) | Yes, copies them |
| Log every fill to my journal | PFX Journal (NinjaTrader 8) | No, it only records |
| Turn TradingView alerts into MT5 orders | PFX Executor (MetaTrader 5) | Yes |
| Stop my account at a loss limit | PFX Equity Shield (MetaTrader 5) | Closes positions at the limit |
| Move stops and take partials on my trades | PFX Trade Manager (MetaTrader 5) | Yes, changes open trades |
Read the last column first. A tool that places or changes orders is a bigger step than one that only draws. Our product pages say exactly what each one does.
Not seeing it?
My job isn't in the table. Open the NinjaTrader or MetaTrader tools page and read each product's short description.
I want two jobs. Pick one, set it up, and come back for the second. Start with one tool at a time.
3
Start with the safest tool
Look first, trade later.
- If you're new, pick a tool that only draws on your chart, such as PFX SLM.
- Use it on a practice account until you know what each line means.
- Leave tools that place or change orders until you have done step 2.
Why this order. A drawing tool can't lose you money by itself. An order tool can, so it deserves more time.
Not seeing it?
I already trade real money. That's fine. Still test a new tool on a practice account first, and keep the first real-money run small.
I don't have a practice account. The NinjaTrader start guide shows how to open a Sim account for free.
4
Check there is a guide
Some tools have one now. Others are still being written.
- Get NinjaTrader 8 and a Sim account is ready now.
- Set up PFX SLM for NinjaTrader 8 is ready now.
- Set up PFX Copier for NinjaTrader 8 is ready now.
- Connect NinjaTrader 8 to your PFX journal is ready now.
- Guides for the MetaTrader 5 tools are still being written. Their product pages are live.
No guide yet? The product page still tells you what the tool does and how to get it.
5
Know your next step
Open the one that matches your job.
- New to NinjaTrader? Start with a Sim account first.
- All guides for the full list.
Well done! You know which tool fits your job. Set up one at a time and you'll stay in control.
Your safety nets
Three things to keep in mind.Always available.
Nothing on this page places a trade. These habits keep it that way.
1
Read before you run
Each product page says what the tool does and what it doesn't. Read that page before you install anything.
2
Practise first
Use a practice account until a tool does exactly what you expect.
3
One tool at a time
Add one tool, watch it for a while, then decide on the next. Nothing forces you to set up everything at once.
!
Before you ever use a real account
Practice results aren't real results. Fills, delays and costs differ with real money. Trade small and read your broker's own rules first.
All done
You know which tool fits.Nicely done.
Next: set up a practice account, then add one tool.
Risk warning: Futures trading carries a high risk of loss and is not suitable for everyone. Trading tools do not guarantee results. NinjaTrader is a registered trademark of NinjaTrader Group, LLC; MetaTrader is a trademark of MetaQuotes Ltd. PrecisionFX is not affiliated with or endorsed by either.