Table of contents:
- 1 What makes the Stereotrader so special
- 1.1 Installation and Setup
- 1.2 Stereotrader Main Panel for CFD-Trading
- 1.3 Stereotrader-Shortcut for partial sales at Flat-Button
- 1.4 The heart of the Stereotrader – the setup panel
- 1.5 Professional features for successful trading
- 1.6 Stereotrader-Market-if-touched-intelligent orders
- 1.7 Stereotrader intelligent orders CS, CV, RV and NT
- 1.8 The strategic order – Turbo, but no ‘Holy Grail
- 1.9 The automated trading
- 1.10 Other features you have to mention
- 1.11 Stereotrader session panel with statistics for CFD trading
- 1.12 Where and when the Stereotrader can be installed
- 1.13 Traders Club StereoTrader: Support and community group on Facebook
- 1.14 Conclusion of my field report about the Stereotrader
What makes the Stereotrader so special
In addition to a detailed overview of the trading session of the respective day or even weeks, the stereotrader has a unique function that deserves special attention. This alone sets the software apart from everything else that is currently available on the market: the limit pullback order, as Hilger mentioned above. I will go into this in more detail later.
The clou of the Stereotrader is easy to understand. After installing the Stereotrader, the MT4 or MT5 only represents the platform. All basic functions are of course still usable. But the trading itself is done by Dirk Hilgers Tool. In a way that makes CFD trading professional and incredibly fast, even for beginners.
Furthermore, the Stereotrader is just as fit for real future trading! If you take a closer look, you will find the button “DoM” (Depth of Market) in the main panel under the tab ‘Chart’ (see below), which can be switched to it. At the moment, futures trading is only possible via AMP Futures, but more futures brokers are planned to be added in the near future.
Installation and Setup
The installation is simple. Via Hilger’s website “stereotrader.de” an installation manager can be downloaded directly from the main page by clicking on the download button. A double click on the 75kb small file initiates the user guided installation, which is very fast. The manager finds the Metatrader folder automatically and installs the software directly there.
After the installation of the software the Stereotrader can be found at first only as an entry in the navigator area of the Metatrader under “Experts”. If you then drag the entry onto the desired chart window, the tool implements itself there after a query which only has to be confirmed with ‘OK’.
Furthermore, there is also an entry “Stereo Trader” in the navigator area “Indicators”. Here are some special and useful tools which I will talk about later.
Stereotrader Main Panel for CFD-Trading
What we first see is the main panel that is already largely self-explanatory and the two vertically arranged colour bars at the left side. With the color bars, limit and stop orders can be created directly in the chart via drag & drop. Long or short market orders can be executed with one click in the respective upper price display areas. For this the “one-click trade” must be activated in the Metatrader of course.
In the section “Pool” we have the possibility to preset basic settings for our orders. Values which are entered here are valid for all executed orders. Of course these values can be changed in the chart over and over again if a position was opened once. The buttons “SL”, “TP”, “TRL” and “BET” give us the choice which of the default settings should actually be active or inactive.
“TRL” determines from which rate the Stop Loss should be trailed automatically according to the predefined scheme via “Trailing Stop”. “BET” is the mark at which the Stop Loss automatically secures the open position “Break even”. Here the Stop Loss line is set as far above the entry point as we have set in the setup panel under the tab “Trading” and the setting “Break Even Plus”.
With the buttons “Reset”, “Flat”, the “X” colored “Long” or “Short” and the “RV” button below, Dirk Hilger provides a solution for a Metatrader problem, which many CFD traders have been asking for years. These buttons offer the possibility to close or rotate several positions or only a certain kind of positions immediately and simultaneously.
By the way, Dirk Hilger has built in another somewhat hidden function here, which is very intelligent for CFD trading. If you click on the “Flat” button while holding the control key, only half of the open position is closed. If you hold down the shift key, you close 1/3 of the position. There is no faster way. I use this function very often.
Stereotrader-Shortcut for partial sales at Flat-Button
To complete the setup of the main panel, it is worth taking a look at the “Chart” tab. To make it visible when the chart window is too small, the tab “Pool” should be closed first, because Stereotrader does not contain a scroll function. Here we now find further options, such as showing a tick-based volume profile in the chart or displaying market and future open and close as well as highs and lows, fibo lines and pivot points. And this on a daily, intraday, weekly and monthly basis. Pivot points can also be displayed intraday on an hourly basis.
The heart of the Stereotrader – the setup panel
Click on the logo in the upper left corner of the chart to open the setup panel. Many basic settings can be made here. Most of them can be left in the basic settings. However, some items can be adjusted to individual needs. The first tab “Basic” is already interesting.
Here, not only the current version number is displayed, but also a click on the button “Installation Manager” will update you to the latest version. If there is a new update, the Stereotrader shows this with a message in the program.
The second tab “Strategy” is no less unimportant, even if it looks unimpressive. Here you can enter a name for the currently active chart under “Strategy name” and save it with a click on “Change strategy”. This makes it possible to create another modified strategy in another chart for one and the same underlying instrument in the same time unit. For example, with different settings for strategic orders, for automated trading or for charts that are specially designed for scalping.
Under the third tab “Trading” you can advantageously set different trading modes. By default, “Stereo Future” is set here, so simultaneous long and short positions are not possible. The Stereotrader manages position openings and closings in the same way as in futures trading. If you absolutely want to hedge, you can set this here with the selection “Single Hedge” or “Stereo Hedge”. This hedge mode then corresponds to the standard trading of the MT4 or MT5.
The values of the trailing stop rules displayed in the main panel can also be adjusted in the middle block to your own needs. While the other setting options are largely self-explanatory, the settings under “Chart Theme” and “Panel Design” on the last tab “Layout” should be mentioned. Here Dirk Hilger has once again shown his generous side and provided us with some layouts. Due to the mixture of the chart theme and the panel design, the design possibilities are extremely numerous! Everyone can choose the best presentation.
Let’s return to the main panel for the use of the stereo wheel and have a look at some of the features. Under the hood there are many useful features that can make CFD trading exciting and efficient.
Professional features for successful trading
The software comes with some special features that go far beyond just acting. These include in particular:
- Intelligent Orders
- Strategic orders
- Automatic Orders
- Grid Orders
- Car exit
- Limit pullback order
- Let’s take a look at the “intelligent orders”.
We find a part of it in the preferences of the setup panel (click on the logo in the upper left corner) under the tab “Trading” and the entry “WITH functionality”. The sense of this setting is quickly explained. If you open a position in MT4 or MT5 and define a Stop Loss (SL) and a Take Profit (TP) for it, then these price markers are available directly from the broker. In CFD trading, however, it can make sense to withhold these marks from the broker.
If you now activate these buttons, the SL, the TP as well as the limit and stop orders are not transmitted to the server of the broker. The Stereotrader keeps them for itself until the price markers are reached. Only then does it become a market order, which is transmitted to the broker’s server and executed. Therefore the order is also called MIT (Market if touched).
But beware: according to Dirk Hilger, this also works with slower Internet connections with a latency of over 100ms. But the stereotrader must be constantly active. So if you want to hold positions overnight and hide SL like TP or limit and stop orders from the broker, you can’t avoid running the system continuously. Otherwise, one should better deactivate these buttons and only then set the orders.
Stereotrader intelligent orders CS, CV, RV and NT
The remaining intelligent order types are located in the main panel under the “Edit Order” tab. Here you have, among other things, the possibility to delete the same orders with the “CS” button when they are executed. With “CO” all counter orders will be deleted, and with “RV” finally all counter positions will be closed after opening the position. The “NT” button causes the position to compensate any open counter positions in the amount of their size. However, this only works in hedge mode. In Stereo Future mode this function is deactivated because it is done automatically anyway.
By the way, under “Edit Order” an order can be followed as well as a stop loss! For example, if you enter the value “PHL 1” for a buy stop order under “Order Trail”, the long order will be trailed downwards at the distance above the last candle you entered under “Trail distance” as long as the price falls, and vice versa.
At this point, a word to illustrate when multiple positions have been opened. As it is also usual in future trading, the Stereotrader in Stereo Future mode always calculates a mixed price and displays it with the position line. The respective entry points are then only indicated by small squares.
The strategic order – Turbo, but no ‘Holy Grail
It is almost a mixture between manual and automated trading. The Stereotrader thus practically becomes an Expert Advisor. Especially the strategic order I use relatively often, because it can work well in both trend- and sideways phases. When you know what you are doing!
Actually it is quite simple. Under the tab “Strategic Order” you first enter a strategy. I made very good experiences with the volatility dependent “5x ATR/3”. To explain this in more detail, however, would go beyond the scope here. There are many other strategies to choose from, from scalping to swings and even the Martingale strategy.
Once you have chosen the strategy, all you have to do is choose long or short. In hedge mode, both variants can of course be used. But then everyone must know that for themselves. If there is a trend, I regularly decide on the trend direction. After clicking on long or short, Stereotrader automatically opens 5 limit orders and one stop order.
In addition, the software sets a stop loss according to the selected strategy, if it is activated in the main panel. The Trailing Stop is also set. In my case of the “5x ATR/3” the respective distances are adjusted to the volatility within the selected time unit. From this point on, you don’t have to worry about anything and can watch. Of course, an intervention is always possible in every respect.
If you want to run the strategic order over a longer period of time or the whole day, you should activate the “Hold” button. If an open position reaches SL or TP, nothing else happens except closing the position. The strategic order is then finished and you would have to restart it if you wanted to. However, if you activate the “Hold” button, the strategic order automatically restarts after the last candle is finished. In this way, a trend can be carried forward for practically any length of time.
The principle is simple: the strategic order splits the given position size, for example 5 CFD contracts, into five times one contract. These are opened in the correction of a trend, while the result is a mixed price. Since we can never know how far a correction will go, we are always there. At the same time, the more positions the strategic order opens, the lower the mix price. It can happen that only about the first or two orders are filled and the price then reaches the TP. The remaining open orders are then automatically deleted.
A small disadvantage of the strategic order, however, is that theoretically many relatively small profits can be cancelled out at some point by a somewhat larger loss. This can happen when a trend breaks. However, such a loss is acceptable below the line. In my experience, a consistent and smart use of this feature is more likely to result in a plus on the account.
If you want to know more about how it works and the many possibilities of strategic ordering, you should watch the video by Dirk Hilger. It’s long at over an hour, but worth it!
The automated trading
The Stereotrader completes its claim as Expert Advisor with this feature. Since I, as someone who needs control over what is happening, do not use this feature, I have no experience with it. Therefore it is only to say that for experienced traders there is at least the possibility to create certain filters or strategies and to implement them in automated trading.
These are added to the respective slots in the main panel. Subsequently, the software opens positions fully automatically as soon as the given signals are triggered. Information about this can be found in the Stereotrader manual or on YouTube.
At first glance, the grid order resembles the strategic order. Here, depending on the distance from the current price, a package of (individually deletable) orders is set by clicking on the long or short bar on the left of the main panel above or below the price while holding down the CTRL key. There is, however, one major difference. The grid order is not controlled by a strategy and does not adjust SL or TP. These are taken from the defaults in the main panel. So you could also enter every single order manually. The grid order only accelerates this process. What sense does it make then?
With the grid order you can easily trade the blur, the noise, for example in a sideways market. Since we never know where the price is turning, a position can be built up within a range, which then at best only runs in our direction at some point.
In the stereotrader setup you can set order distances and a progression of the order sizes under the tab “Terminal”. But I would be careful. Basically I always prefer the strategic order to the grid order.
Other features you have to mention
In the main panel we still find the tab “Auto Exit”. Here it is possible to force the stereotrader to close positions as well as open orders via a percentage decrease or increase value of a trade as well as via the equity value. This is supplemented by the input of a trading time.
Backtesting of own strategies as well as CFD trading in a given time in the past, i.e. ‘historical trading’, are also possible with Stereotrader.
The best of Stereotrader comes almost to the end because it refers to normal limit and stop orders as well as grid and strategic orders! The Limit Pullback Order – called LPO for short – is unique to CFD trading and cannot be found in any other application. How does it work?
Usually the following happens: we set a short limit order at 11000 points in the Dax, for example, with an SL of 10 points, because we expect the mark to be rejected. If the price gets there, the position is opened. But then the price immediately peaks at 11020 and we are stopped in the red.
The LPO prevents this by pulling our limit order upwards until the price moves back by the value we set in the setup under the “Terminal” tab in the “Limit Pullback” item (default 1). In this case, our order would have been opened at 11019, the SL would be 11029, a gain of 19 points.
The example is rough, but spread over the day, the positive slippage can very often be in the double digits. Moreover, the LPO can be used not only for entries, but also for exits in profit. If we replace the take profit with a limit order, the profit can increase again.
Of course, you have to take into account that the slippage through the LPO can also be negative. If our price is reached and then goes straight back, it can also happen that we execute one point worse. In the long run, however, the LPO almost always pays off.
The following addons serve to exhaust all possibilities of Stereotrader:
- Scalper terminal
- trade session panel
- Addons from the Navigator area
- Addons from the Installation Manager
The scalper terminal is predestined for fast trades. With a click on the small arrow in the upper left corner of the main panel, this can be minimized. All that remains is a small bar at the top edge of the chart window. It contains the most important elements that the scalper needs: position size, market order area, buttons to quickly close positions and a reverse button. Finally, the small arrow on the right-hand side can be used to make the main panel visible again. What more does the Scalper need?
Stereotrader session panel with statistics for CFD trading
The Trade Session Panel is a very useful feature that allows us to always have control over our trades and our profit and loss history. It can be unfolded by clicking on the small arrow on the right side of the main panel. To unfold it again, click on the arrow at the top of the panel.
Here you can see a lot of statistics from the current trade to all trades we have made intraday, in the current week, month or year. Also the number of trades and the slippage can be constantly monitored. At the bottom there are three more practical buttons. With ‘Reset’ all collected data is completely reset. With ‘Trades’ the results can also be displayed in the chart and a click on ‘Export’ will export all data to a CSV file.
In the navigator area of the MT4 or MT5 there are more tools under the entry ‘Stereotrader’, which you should have a look at. By default I use “TraceSLTP”, which allows me to display the course of the SL by a line in the chart.
If you install Stereotrader, you will notice that there are more addons listed in the installation manager. These include among others:
- Sports Addon
- Forex Pro Edition
- Market Value Profiles Addon
The first three are subject to a fee, but can be very useful. The addon ‘Forex Pro Edition’ is based on the Forex Pro System of Thorsten Helbig, so that it is only usable if you use his trading system.
XFrame is free of charge. It can be found after installation in the navigator area of the MT4 or MT5 under “Indicators”. With this feature you can visualize two time units within one chart. My M5 chart is always subject to candles in H1, whose opacity can be adjusted as desired in the module at the bottom edge. Very helpful.
Where and when the Stereotrader can be installed
The brokers JFD, Tickmill and FXFlat have the Stereotrader in the ‘Classic Edition’ permanently on offer. At JFD you can book the software for a monthly license fee of 29,90 Euro. It can also be cancelled monthly.
Tickmill also delivers the Stereotrader for free if the account is capitalized with at least 1000,00 Euro.
With FXFlat the stereotrader is included unconditionally free of charge when opening an account.
According to Dirk Hilger, Stereotrader is furthermore “basically executable with almost all CFD- and Future-Brokers who offer the MT4/MT5”.
Further he says: “There are only restrictions with CFDs if the broker builds in obstacles, such as minimum distance for SL/TP and similar. Such brokers are not recommended for the stereotrader anyway, because the advantage for the trader is not visible here. And that again contradicts my philosophy.” (End of quote)
However, the license must then be booked directly via the website “stereotrader.de” for 29.90 euros per month. This can also be cancelled on a monthly basis. Compatibilities with other brokers than JFD Bank, Tickmill or FXFlat should always be clarified with Dirk Hilger in advance.
Traders Club StereoTrader: Support and community group on Facebook
Ever since Dirk Hilger founded his own group on Facebook, the community has grown to over 1600 members. It is called “Traders Club StereoTrader” and offers helpful support as well as live CFD trading every day with high quality and a cultivated tone.
Dirk Hilger has made it his business to post his live trades here and to support the community in their trading. Not only who uses the Stereotrader for his trading, can learn a lot here! By the way, Hilger has already produced a large number of videos in his Stereotrader channel, which are available on Youtube!
Conclusion of my field report about the Stereotrader
I have by far not listed all possibilities of the software here. Much like the Estimator or historical trading is still to be discovered. Especially if you have a look at the many other files in the Navigator section.
In any case, CFD trading reaches a whole new dimension for the retail trader with the Stereotrader. I can’t imagine my trading today without this powerful, fast and professional tool. The MT4 or MT5 is the perfect basis for this. It makes no difference whether you trade indices, forex, gold or even stock CFDs. The Stereotrader can be applied to everything that can be traded with CFDs.
And last but not least there is Dirk Hilger. Not only as a programmer, but also as a daily with his live performance convincing trader he clearly stands out from the crowd. His trading has possibly only become what it is today through his stereotrader: professional and profitable.
Therefore, based on my experience, I cannot help but recommend the use of this tool to anyone who wants to get into CFD trading with a bold recommendation.