I have a simple double MA EA that works fine for me, but I want to add an automatic stop-loss at time of order placement. I need a simple stop at entry, but which moves with price action until break-even is reached, then the stop becomes fixed. Does that make sense?
Does someone out there have a piece of code they are willing to share with me to achieve the above?
Stop loss help investors in controlling their risks and it is imperative to know at what time a stop loss need to be put. Extending the stop loss position is not a good idea as it can result in a bad situation for you.