Place multiple trades in MT4

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tomstud12
7
tomstud12  

Hello


I am just wondering how can i place multiple trades so i can have lets say 2 or 3 different Take profits? Do i have to lower the lot price?

Every time i do the first one when i try to do a second trade i just get insufficient funds.

For example if i want to do

EUR/USD

BUY @ 1.1310

Selling Price 1.120

Take Profit1 1.1340

Then same just with different Take profit

Take Profit2 1.1340

Then same just with different Take profit

Take Profit3 1.1340

William Roeder
20228
William Roeder  
tomstud12: i try to do a second trade i just get insufficient funds.
  1. You are risking most of your account per trade, thus you get insufficient margin on the second.
  2. Never risk more than a small percentage of your account, certainly less than 2% per trade.
    1. In code (MT4): Risk depends on your initial stop loss, lot size, and the value of the pair.
      1. You place the stop where it needs to be - where the reason for the trade is no longer valid.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.
      2. 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.)
      3. 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.
                  MODE_TICKVALUE is not reliable on non-fx instruments with many brokers.
      4. You must normalize lots properly and check against min and max.
      5. 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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