What's your exits?

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  • 19% (29)
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  • 15% (23)
  • 9% (14)
  • 6% (9)
  • 7% (11)
  • 4% (6)
Total voters: 82
 
I prefer to use limit orders instead of take profit to avoid slippage.
 
Malacarne:
I prefer to use limit orders instead of take profit to avoid slippage.
Aren't tp always limit orders??????
 
bendex77:
Aren't tp always limit orders??????

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

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. 

 
bendex77:

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

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.
 
I think it is primarily dependent on our own strategy and then the nerve of each trader .... lol!
 

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?

 
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.
 
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?
 
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?
 
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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