With the trading system that I am using, as with some brokers, they do not allow you to place a trade (demo/live) if it as a target profit is less than ten pips. However, I figured I can have the EA place a trade with no limit and no stop loss (or a very high one); and then immediately place a modified order to make it the limits and stops that I want it to be.
So, my EA would place a trade and make the limit 1000 pips. Then as soon as the order is placed, the EA will modify it and make the new limit 5 pips.
I was wondering if this was possible and where would I put this modified order function in the program. I assume it would come after the OrderSend function.
Can anyone help me out?
Oh I see, I didn't know that.
I am with a broker that supports scalping, but they still have that minimum distance of 10pips. Would it be possible to put s "stop" or maybe a trailing stop once the currency pair moves 5 pips in the direction you want it to go (I'm trying to see if that's what you meant by a virtual stop)? For instance, as soon as the price moves at least 5 pips, a trailing stop order can replace the initial stop. Is something like that allowed with metatrader?
A virtual stop is where you don't show the broker your SL, you program your EA to close your order when price moves against you a certain distance. It is commonly called a hidden stop loss.
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