The Problem with Trailing Stop in MetaTrader 5 - Forcing Trailing Stop to Activate at a Certain Profit Level - page 3
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You can place limit orders rather than market orders, but the trade-off is that then you run the risk of the trade not getting executed at all. You get to control the price, but you may not have any takers. You can do a stop-limit, where at a certain market price, you do an offer of a different price farther in that direction, e.g., you buy at $100, you get to $110, you set a stop limit order with the stop at $105 and the limit at $104. Hopefully, as the price blasts past $105, you get a taker at $104. Still not guaranteed, but much better chance than trying to do a limit order at $105 when the market hits $105. You have the advantage of knowing exactly what your loss will be, if the trade goes through, but it's still possible the trade won't go through.
In your scenario, if they all go into loss, you could easily blow the account, if the slippage makes the loss exceed what you planned for in your position sizing. At 50:1 leverage, that slippage is effectively magnified 50x. You're basically trading a $50K account, but with only $1K — 2% of that $50K, available to lose.
The fact that it's 12 trades doesn't really matter — it would be the same issue if you opened one big trade of that same size. The thing with the multiple positions is that if you move up the trailing stop on the early entries, and you're stacking more trades on top, you might not lose as much on some of the trades as initially planned, or some might actually be in profit to offset some of the losses.
That said, yeah, 12 trades at a time on a $1K account is tough, especially on one instrument/strategy. If you filter through all the various advice on growing a small account, the consensus recommendation is generally to trade only the very best setups — high probability, high risk/reward, able to set a very tight stop loss. Multiple trade strategies — Martingale, stacking, hedging, etc. — generally need more capital, and more margin leeway for unexpected drawdowns.
I came across this article. Can I really make my own Trailing Stop using MQL5 Wizard “without programming”?
https://www.mql5.com/en/articles/171
Not really! The Wizard creates a fully automated EA. You would still need coding skills to modify it and add a simple panel for user control.
It will be easier to take an existing trailing-stop publication from the CodeBase and then adjust it to your needs.
Not really! The Wizard creates a fully automated EA. You would still need coding skills to modify it and add a simple panel for user control.
It will be easier to take an existing trailing-stop publication from the CodeBase and then adjust it to your needs.
I already did that in my very first post in answering yours, but you neglected to click on the "blue" links and see where they may lead.
I already did that in my very first post in answering yours, but you neglected to click on the "blue" links and see where they may lead.
The very first link ...
Also, please learn to search. In the very top menu, click on CodeBase, then in the search field, type the key words, for example "Trailing Stop", then hit [Enter].