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What's your exits?

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Dua Yong Rew
5423
Dua Yong Rew 2014.05.11 07:43 
  • 27%
    (41)
  • 19%
    (29)
  • 13%
    (20)
  • 15%
    (23)
  • 9%
    (14)
  • 6%
    (9)
  • 7%
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  • 4%
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Total voters: 81
Rodrigo Malacarne
Moderator
9905
Rodrigo Malacarne 2014.05.11 14:12  
I prefer to use limit orders instead of take profit to avoid slippage.
Benjamin Dixon
23188
Benjamin Dixon 2014.05.12 00:25  
Malacarne:
I prefer to use limit orders instead of take profit to avoid slippage.
Aren't tp always limit orders??????
Benjamin Dixon
23188
Benjamin Dixon 2014.05.12 00:39  
bendex77:
Aren't tp always limit orders??????

wow according to this: http://www.metatrader5.com/en/terminal/help/trading/general_concept/order_types 

tp seems like a kind of stop order to guarantee complete fills I guess so your right tp can have slippage. I don't like that. 

Rodrigo Malacarne
Moderator
9905
Rodrigo Malacarne 2014.05.12 02:19  
bendex77:

wow according to this: http://www.metatrader5.com/en/terminal/help/trading/general_concept/order_types 

tp seems like a kind of stop order to guarantee complete fills I guess so your right tp can have slippage. I don't like that. 

Yes, TP can have slippage in MT5. That's why I prefer to use limit orders in my EA's.
sylvain claverie
652
sylvain claverie 2014.05.13 01:28  
I think it is primarily dependent on our own strategy and then the nerve of each trader .... lol!
Dua Yong Rew
5423
Dua Yong Rew 2014.05.13 09:20  

sometimes the trades just miss the TP by 1 point. what can we do to exit with more pips?

maybe thats why a second exit (not SL exit) will make the EA more profitable?

Ronnie Mansolillo
5503
Ronnie Mansolillo 2014.05.13 11:20  
doshur:

sometimes the trades just miss the TP by 1 point. what can we do to exit with more pips?

maybe thats why a second exit (not SL exit) will make the EA more profitable?

Yes agree, it could be an indicator to be used as take profit. it is what I am thinking to add on my EA. I do use already sl,tp and trailing  but I would like to add an indicator to be used only as a TP level.
Dua Yong Rew
5423
Dua Yong Rew 2014.05.13 14:15  
Rosiman:
Yes agree, it could be an indicator to be used as take profit. it is what I am thinking to add on my EA. I do use already sl,tp and trailing  but I would like to add an indicator to be used only as a TP level.
means you want to make your hard tp into a flexible one?
Ronnie Mansolillo
5503
Ronnie Mansolillo 2014.05.13 16:02  
doshur:
means you want to make your hard tp into a flexible one?
I want to use both. I follow primary trend so my tp is near the longest big run of the past 3 years (backtest). it means I loose often the highest of each long trend. I would like to test an indicator that works only to close positions once is triggered. what do you think about it?
Dua Yong Rew
5423
Dua Yong Rew 2014.05.13 16:08  
Rosiman:
I want to use both. I follow primary trend so my tp is near the longest big run of the past 3 years (backtest). it means I loose often the highest of each long trend. I would like to test an indicator that works only to close positions once is triggered. what do you think about it?
Isn't trailing stop a suitable choice? unless you are complaining that trailing exit is not very sharp.
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