Olaf87:
This Forum is about mql4 coding . . . discussing strategy is off topic.
What do you think about this strategy? What can I do better?
Fine, so I cancel that question
But this question should be valid:
What is the best way to set this up?
Olaf87:
Monitor your Open orders and check their OrderClosePrice() compared to their OrderOpenPrice() when the difference gets bigger than what you want to tolerate OrderSend() your hedge order. Don't forget to OrderSelect() before using OrderClosePrice(), etc.
Fine, so I cancel that question
But this question should be valid:
What is the best way to set this up?
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Hey guys,
on my MT4 account I'm following a profitable signal provider. But sometimes it has a big floating drawdown. Often it turns back into profit, but sometimes also in an even bigger loss.My idea is to reduce the risk of big losses by direct hedging after a certain drawdown. For example, all open positions should be observed continously and when a position reachs a drawdown of 100 pips the system should open automaticly a hedge position of that pair untill the position is closed or reaches a range lower than the drawdown of 100 pips.
What do you think about this strategy? What can I do better? What is the best way to set this up?
Greetz