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EA to protect from Margin Calls?

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Mark
16
Mark  

Hi,

I am wanting to know if there is an EA for the following scenario

I have an open BUY position that is currently running at a loss.

Im bullish on the position in the long term but the loss at the moment is getting bigger each day.

I want to open a sell position of the same lot size once it falls to a certain level to protect me from a margin call, but have a stop loss on this trade at zero profit or even just a tiny profit/loss.

I want an EA to repeat this until the BUY trade recovers and trades above this point.

Does anyone know if such an EA exists?

PS Im very new to this and can't really program that well

whroeder1
15304
whroeder1  
Opening an opposite position is called hedging. 1) Can't be done on American brokers. 2) doesn't protect you from a margin call, it DOUBLES the margin used.
Keith Watford
Moderator
10359
Keith Watford  
WHRoeder:
Opening an opposite position is called hedging. 1) Can't be done on American brokers. 2) doesn't protect you from a margin call, it DOUBLES the margin used.

Some brokers reduce margin requirements with hedged positions.
Mark
16
Mark  

Ok,

Im not using a US broker and they do allow me to place these trades. I understand it will require more margin if I have two trades open, but what I essentially want to do is crystallise my loss.

EG GBPJPY Using Lot Size 1

BUY GBPJPY @168

if falls to 165 meaning a $3k loss

But at 165 I open a GBPJPY SELL

The pair falls to 164 meaning the BUY is down by $4k but my SELL is up buy $1k and I still have a $3k loss

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