Newbie looking for ea
Yeah, this is possible. IT would be something like that in the EA:
1). OPening a position at 12700 ( example ) . BTW: How does the expert figures when to open positions, on what time ?
2). Setting Stop Loss at 12670.
3). If the price reaches T1 , then stop loss moves to 12700.
4). If the price reaches T2, then stop loss moves to 12715(T1)
if the price reaches T3, the position closes.
IS this right ?
I only have a couple of questions regarding this strategy,
How did you come up with the Targets? THey are like T1=15 pips, T2=19 pips, T3=40 pips. Why exactly like this ?
And one more thing to add: Your strategy has 4 outcomes:
1) The position closes at Stop Loss , profit = -30 pips.
2) THe position reaches T1, but the goes down , Profit = 0 pips
3) THe position reaches T2 but then goes down, Profit = 15pips
4) The position reaches T3, profit = 40 pips.
This means that in order for this EA to be succesfull it has to have a 75% winning ratio, and this pretty much depends on when you enter the position, so the first thing you have got to do , is to understand how will you enter the position, and second thing, you might have to think about using trailing stop somewhere between this targets.
This is something for an expert, right? I don't think it's a script.
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Hello everyone I am new here....
I was wondering if an ea can be used for a scenario where
you have several profit targets and a stop loss.
Buy at 1.2700
T1 1.2715
T2 1.2734
T3 1.2755
Stop Loss 1.2670
If I have each of these values can an EA be created to
- watch for the buy price and get in
- stop the trade out at the stop price
- reset the stop to t1 when the price reaches t2
- sell at T3
I dont know enough about EA's to know if this is something they can do.