Are stop orders necessary in EA?
I am wondering what's the difference between sending a stop order than comparing with the current price and sending a market order in EA. Will the latter get less chance to be filled? Does anyone here know the answer? Thanks!
If you want to stoploss calculated by Ea and then send a marker order in that time maybe you have some internet connection error, system freezing, power lost and . . . or occure market spikes during news and you lost very much if you have not Stoploss
stop loss
Hi..
I think if you've good and proven EA you should use stop loss than market order...we can't predict situation and condition of market or outside environment in the future..just for safety..
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Well if you have a really big account and good money managment and you can wait long time for a negative order to become positive then you do not need stops... and every EA are profitable also... :P
I am not talking about stop out, I am talking about stop in
What I mean is, for example, if the current price is 1, and I want to long when it reaches 1.1, to trade manually, I will enter a buy stop order.
To code in EA, I can either use buy stop order, or just wait for the current price to reach 1.1 then send a buy market order. The difference is whether the wait and compare process happens on my PC or the broker's trading server.
"STOP ORDER" is not "STOP LOSS"
Please, it's nothing related to stop loss, I already have a stop loss with the order for both cases. The question is about how to enter the position, enter immediately as a stop order or wait until the price hit the target. Do you know about the BUY_STOP and SELL_STOP order types in MQL4?
I believe that depends on how you are using that order and the logic of the EA. You may want to user hedging order for insurrance instead of stop loss...
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I am wondering what's the difference between sending a stop order than comparing with the current price and sending a market order in EA. Will the latter get less chance to be filled? Does anyone here know the answer?
Thanks!