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What's your exits?

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Dua Yong Rew
5447
Dua Yong Rew  
  • 27%
    (41)
  • 19%
    (29)
  • 13%
    (20)
  • 15%
    (23)
  • 9%
    (14)
  • 6%
    (9)
  • 7%
    (11)
  • 4%
    (6)
Total voters: 81
Rodrigo Malacarne
Moderator
10004
Rodrigo Malacarne  
I prefer to use limit orders instead of take profit to avoid slippage.
Benjamin Dixon
23532
Benjamin Dixon  
Malacarne:
I prefer to use limit orders instead of take profit to avoid slippage.
Aren't tp always limit orders??????
Benjamin Dixon
23532
Benjamin Dixon  
bendex77:
Aren't tp always limit orders??????

wow according to this: https://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
10004
Rodrigo Malacarne  
bendex77:

wow according to this: https://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
812
sylvain claverie  
I think it is primarily dependent on our own strategy and then the nerve of each trader .... lol!
Dua Yong Rew
5447
Dua Yong Rew  

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
5559
Ronnie Mansolillo  
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
5447
Dua Yong Rew  
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
5559
Ronnie Mansolillo  
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
5447
Dua Yong Rew  
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.
12
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