Exit Strategy: Stepping Stops vs. Trailing Stops - page 8
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I'd like a trailing stop EA that trails by a percentage value of the amount you are in profit.
So for emample 3 variables.
Trail from = 10
Trail max = 50
Trail percent = 50
So in this example ts would be placed when you are 10pips (trail from) in profit, and it would place it 5pips (50% trailpercent) from the current price. Then as price moves in your favour it trail by 50%, so at 12 pips profit it trails by 6 14 by 7 and so on.....
When it reaches 100 pips profit it then trails by 50 pips (Trail max)
Surely someone else has done this before, I just cant find it anywhere.Had a couple of minutes to spare so I decided to code this,
*WARNING* I have not tested it out myself
How to close such order in the easy way?
When I trade, I found the time to close orders is extremely important. However, i didn't find a suitable tool to manage my orders in my system.
In my system, i treat everyday's movement as a fractal, so all the orders including pending orders should be deleted when market close no matter they are loss or profit.
I need a EA have such functions
1 can manage all the orders in mt4 or the orders i specified.
2 jump the stop loss when the price moves in my favour by that number of pips. For example, when price move 35 pips in my favour, move the SL to 5 pips in my favour.
3 Close all the orders including pending orders at certain time. For example, close all at 23GTM or broker's time.
I have tried Swiss army and muti-trade management. Steve's muti-trade management EA is very good, but doesn't have close all orders at certain time function. Does anyone can help me or give me any suggestion.Thank you in advance.
When I trade, I found the time to close orders is extremely important. However, i didn't find a suitable tool to manage my orders in my system.
In my system, i treat everyday's movement as a fractal, so all the orders including pending orders should be deleted when market close no matter they are loss or profit.
I need a EA have such functions
1 can manage all the orders in mt4 or the orders i specified.
2 jump the stop loss when the price moves in my favour by that number of pips. For example, when price move 35 pips in my favour, move the SL to 5 pips in my favour.
3 Close all the orders including pending orders at certain time. For example, close all at 23GTM or broker's time.
I have tried Swiss army and muti-trade management. Steve's muti-trade management EA is very good, but doesn't have close all orders at certain time function. Does anyone can help me or give me any suggestion.Thank you in advance.Try my EA - it can only close orders, but does it either immediately or at desired broker time. Note that it closes EVERYTHING (its greedy)
I can add a few checks, like magic number and symbol if you really need it.
Hope it helps!
Thank you Shinigami.
Try my EA - it can only close orders, but does it either immediately or at desired broker time. Note that it closes EVERYTHING (its greedy)
I can add a few checks, like magic number and symbol if you really need it.
Hope it helps!You really help me lot! Because exit strategy is really important for me .So far I didn't find any conflic with my current trade management EA. I am a manual trader but using EA to close orders. My exit strategy is simple:
1 hard SL is a must and sent to my broker
2 when price move 35 pips in my favor, move sl to 5 pips to protect profit
3 when prove move 50 pips in my favor,move sl 15 pips to protect profit
4 usually all the orders should be closed at 4pm Newyork close
5 but sometimes orders should be hold 1-2 days,so the order shouldnot be colsed at that time
it seems i need a symbol management or the magic number to specify the pairs(or the orders) I will close.However, i am not sure which is better or i need the other ways.Would you add this option for me? Thanks again.
MinDistance
Hi,
I just have finished 1st version of Stepped Stops EA.
I need help to test it, because it is possible only on real trade.
How to use?
Open position and then apply EA - the expert will make all rest.
IgorIgor,
Can you explain what the MinDistance variable does in this EA please?
Paolo
You really help me lot! Because exit strategy is really important for me .So far I didn't find any conflic with my current trade management EA. I am a manual trader but using EA to close orders. My exit strategy is simple:
1 hard SL is a must and sent to my broker
2 when price move 35 pips in my favor, move sl to 5 pips to protect profit
3 when prove move 50 pips in my favor,move sl 15 pips to protect profit
4 usually all the orders should be closed at 4pm Newyork close
5 but sometimes orders should be hold 1-2 days,so the order shouldnot be colsed at that time
it seems i need a symbol management or the magic number to specify the pairs(or the orders) I will close.However, i am not sure which is better or i need the other ways.Would you add this option for me? Thanks again.If you want to close all orders opened on a specific pair, you need a Symbol check. If you want to close only orders opened by EAs, you need a Magic Number check. Finally, if you know the numbers of the orders you want to close or keep open, you need the EA to have a place to enter these numbers so that EA that handles closing orders would know what to close and what to keep.
Can someone add to this code for me?
I have this ea that I got for free. I can't remember which site I got it from as it appears I downloaded it on 4/2/09. It's a very simple trade management robot that works quite nicely for me, except for 1 thing that I would like it to do. If possible could someone add the ability for this ea to take partial profit for me? Also if possible but not important can this be adjusted to enter the info as actual pips? Right now you have to add the 0 for 5 digit brokers. But I'm very used to it so really not important. Its here for all to use.
Thanks in advance if someone could accomplish this for me.
P.S. If what I'm asking for is allready available just send me there.
Perfect Indicator just what i'm looking for and even more
Step stop ea mt4
Hi,
Newbie to the forums here, so Big Hello and hope someone can help.
I have been using a script that automatically adjusts the stop loss when a certain price is hit.
The issue I have with it, I prefer using multiple steps to lock in profits.
Are there any coders out there that can adjust the attached to incorporate a few more steps?
I have searched all the forex forums and not found anything that works the way I would like (lots of people have asked the same question though) Perhaps my search is a Holy Grail.
Any help would be appreciated.
The way it works currently:
There is a top end take profit (80 pips lets say) So regardless of anything else, once price is +80pips it takes the profit (this is adjustable to suit your needs)
You can also close in incremental lots ( but i dont use this bit)
It moves the stop to break even once a price is hit ( lets say 20 pips)
Then the current EA has:
First Stop target (in pips): once hit
it moves stop to [certain price]
then
second Stop target (in pips): once hit
it moves stop to [certain price]
All I need is a bit more coding to allow for a further 3 stop targets.
Also as an addition , it would be good to have hidden S/L & T/P as part of it,
I hope this makes sense. Sorry I am probably asking a heck of a lot from someone.
I have attached the script that I have been using. I tried to re-code myself one evening and made a complete hash of it.
HELP.
Thanks in advance