Advice please

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w1nner2018
11
w1nner2018  

Hello , can someone suggest advisor/anything similar for mt4 which can help with opening of new orders ( I mean: I will select the opening points myself, but it needs to estabilish the t/p and s/l , i will preearange them myself) 

 ! it is a way too time consuming to write t/p and s/l when there are more than 30 deals( ! 

Thanks!

Eleni Anna Branou
Moderator
6601
Eleni Anna Branou  
w1nner2018:

Hello , can someone suggest advisor/anything similar for mt4 which can help with opening of new orders ( I mean: I will select the opening points myself, but it needs to estabilish the t/p and s/l , i will preearange them myself) 

 ! it is a way too time consuming to write t/p and s/l when there are more than 30 deals( ! 

Thanks!


You should search in the market, there are some solutions there.

whroeder1
17943
whroeder1  
w1nner2018: can someone suggest advisor/anything similar for mt4 which can help with opening of new orders ( I mean: I will select the opening points myself, but it needs to estabilish the t/p and s/l , i will preearange them myself)
! it is a way too time consuming to write t/p and s/l when there are more than 30 deals( !

Use the one-click trading, and then drag the TP/SL to where you want. The bigger problem is managing risk.
  1. In code: Risk depends on your initial stop loss, lot size, and the value of the pair.
    • You place the stop where it needs to be - where the reason for the trade is no longer valid. E.g. trading a support bounce the stop goes below the support.
    • Account Balance * percent/100 = RISK = OrderLots * (|OrderOpenPrice - OrderStopLoss| * DeltaPerLot + CommissionPerLot) (Note OOP-OSL includes the SPREAD, and DeltaPerLot is usually around $10/pip but it takes account of the exchange rates of the pair vs. your account currency.)
    • Do NOT use TickValue by itself - DeltaPerLot and verify that MODE_TICKVALUE is returning a value in your deposit currency, as promised by the documentation, or whether it is returning a value in the instrument's base currency (EUR, in this case).
                MODE_TICKVALUE is not reliable on non-fx instruments with many brokers.
    • You must normalize lots properly and check against min and max.
    • You must also check FreeMargin to avoid stop out
    Most pairs are worth about $10 per PIP. A $5 risk with a (very small) 5 PIP SL is $5/$10/5=0.1 Lots maximum.
  2. Use a GUI EA like mine (for MT4): Indicators: 'Money Manager Graphic Tool' indicator by 'takycard' Forum - Page 6
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