I would like to add another sell stop / buy stop to take some profits early.
I am placing an order with a take profit and stoploss with code something like this
Next how do I take some profit halfway between the order open price and order stop loss? I was hoping to do something like this but it doesn't seem to work. I get a 130 -- invalid stops error.
Your SELLSTOP can't work like this.
You have 2 solutions:
1/ You set 2 BUYSTOP at the same price with 1/2 lot size and with different TakeProfits.
2/ You set only 1 BUYSTOP ... and when profit reach your 1st goal, close 1/2 the position.
sure it can work that way
you have to change to OP_SELLLIMIT not OP_SELLSTOP
i think you dont get it
if he uses a U.S.A broker when the OP_SELLLIMIT gets triggered if he has an open buy position of 0.2 lots the selllimit isn't gonna open another sell of 0.1 lot but it's gonna close 0.1 from the buy position
try for yourself on a demo account with a U.S.A. broker
Yes I am with a U.S.A. broker.
I have written a program that closes half a position when it
gets halfway to the stop. However I want to be able to adjust these two take-profit lines
by dragging them. This way I can visually set them exactly where I
want them on the chart.
I will try the idea of adding a LIMIT rather than a STOP.
I've also found a good solution by simply opening two orders
at the same time. They both have the same stop-loss value. They have two
different take profits values. This works well.
Now I can take profit with a quick scalp and be set up for a
longer swing trade.