Tighter Trailing Stops && Stops - Trailing Stop - General

WannaBeATrader 2006.03.07 18:48 #1

Great! Thanks for the quick reply! Now I am wondering what to do with it.

I am not a coder and I guess one needs to attach to an ea to work.

I want to manually open trades with the trailing stop to work.

MQL5 Wizard: Development of MQL4/MQL5 Wizard Mailbox - For Advanced

Nicholishen 2006.03.07 19:05 #2

If you want to track manual orders, you'll have to use this version. It will only track one open order per currency at the moment.

Attach the EA and check the box that says "allow live trading". Set the TrailingAct to the level of profit (in pips) that you want to start the trailing stop. Set Trailing step to the amount of pips that you would like to trail.

Files:

tight_trailing_stopsmanual.mq4 6 kb

Market Execution - Opening Instant Execution - Opening Request Execution - Opening

WannaBeATrader 2006.03.07 23:02 #3

Thank you I will give it a try!

WannaBeATrader 2006.03.08 00:18 #4

settings

I have attached a screen shot. Are my settings correct? I want a 9 tp and trailing of 6. Should the other settings be true or false? As i mentioned before I am not a coder.

Files:

screenhunter_1.gif 62 kb

Bool Type Selectable Selected

WannaBeATrader 2006.03.08 14:21 #5

I have attached ea to charts, opened only one trade per pair, but I dont think it is working. Any Suggestions.?

Nicholishen 2006.03.08 18:16 #6

WannaBeATrader:
I have attached a screen shot. Are my settings correct? I want a 9 tp and trailing of 6. Should the other settings be true or false? As i mentioned before I am not a coder.

If you select tight trailing stops to be true it will close the trade after the amount of pips selected in ScalpPips. This is for setting a TP lower than what your broker will allow.

When you want to setup a trailing stop, you will have to change UseTrailing to true. Then the TrailingAct is the activation point where the trailing stop starts to trail. For example, if i want my trailing stop to kick in only after there has been a 10 pip increase in my position, I would set the TrailingAct to 10 (or 10 pips). The TrailingStep (which I should probably rename) is the amount of pips will trail the highest point in the open position. In short, if you want a traditional trailing stop, just set the TrailingAct to 0 and the TrailingStep to the amount you would like to trail by. I hope this helps.

Nic

Parabolic SAR - Trend Parabolic SAR - Trend CheckTrailingStopShort

WannaBeATrader 2006.03.08 20:30 #7

Nic,

You guys are great, thanks for the prompt reply!

WannaBeATrader 2006.03.09 00:23 #8

I am currently running the ea, seems to be working, however the modify trade window keeps coming up. I am +11pips at this time have the stop set at 9 so I will see when it comes down if it kicks in. Thank you

Jim

Managing Pending Orders - Modifying a Position - Managing Pending Orders -

zandu 2006.05.09 05:56 #9

WannaBeATrader:
I am currently running the ea, seems to be working, however the modify trade window keeps coming up. I am +11pips at this time have the stop set at 9 so I will see when it comes down if it kicks in. Thank you Jim

Hi Wanna be a trader , did you get this working well ?

junglelion 2006.12.26 04:35 #10

Nicholishen:
If you select tight trailing stops to be true it will close the trade after the amount of pips selected in ScalpPips. This is for setting a TP lower than what your broker will allow.

When you want to setup a trailing stop, you will have to change UseTrailing to true. Then the TrailingAct is the activation point where the trailing stop starts to trail. For example, if i want my trailing stop to kick in only after there has been a 10 pip increase in my position, I would set the TrailingAct to 10 (or 10 pips). The TrailingStep (which I should probably rename) is the amount of pips will trail the highest point in the open position. In short, if you want a traditional trailing stop, just set the TrailingAct to 0 and the TrailingStep to the amount you would like to trail by. I hope this helps.

Nic

Superb job Nic