Principle of operation
Instead of the traditional stop loss, the trader manually sets the initial locking line of this robot. The robot monitors the behavior of the price relative to this line. If the price goes against the trader, the robot locks the position (or several positions) with a counter order, which limits the loss as a stop loss. But this is better than a stop-loss, as it allows you not to lose position in case of any, even too large price movements towards loss.
Closed at the right time, the lock allows you to return the lost capital in the subsequent return of the price to its original position, and also allows profits to grow as the price moves in the direction of profit. The robot provides all locking functions around the level set by the trader, ensuring that losses are minimized when the price moves in the direction of loss, and opens up the possibility of increasing profits when the price moves in the right direction.
- Language - robot message language (English/Russian);
- Direction - trade direction (BUY/SELL);
- Mode of operation - Testing / Trading with manual main entry, or with the main robot;
- Lot - lot only for the Testing operating mode;
- Take profit of the main order - take profit of the main order for the Testing mode, points (0 - no take profit);
- Magiс of the main positions – Magic of the main positions, (0 – we work with positions set manually);
- Magiс of the lock – Magic of the Lock (0 – lock will be without Magic);
- Initial stop loss of the lock – initial stop-loss of the lock, points. It is set when the pending lock turns into a market lock;
- Break Even – anticipating the closing of the active lock when the price returns in the direction of the profit of the main position;
- Activation for Break Even – the level of activation of the break-even level, from the level of the initial locking line, points;
- Trailing the initial lock line – trailing of the initial locking line, points, (0 - trailing is disabled).
Main positions must not have stop losses, instead of stop-loss the robot will use a common lock.
If the robot is used to insure the positions set manually, then you need to set Magiс of the main positions = 0.
If the robot is used to insure the main positions set by another robot, then the Magiс of the main positions must be set the same as for the main robot.
If there are market positions, the robot sets the pending lock at the level specified by the initial lock line. When the price moves towards loss, the lock will become market and will not allow the loss to grow. The price can go any distance in the direction of loss, but the loss does not increase. When the price returns to the initial lock level, the robot closes the market lock at Break Even point, which will allow you to return funds from the drawdown when the price moves in the direction of the profit and continue to make a profit. Break Even level is activated when the price reaches the Activation for Break Even level in the direction of locking.
The position of orders and lines of the initial lock can be adjusted manually at any stage of trading, depending on the strategy of the trader.
When all positions are closed by take profit or manually, the robot will automatically close the lock.
The initial locking level should be set where a stop loss would be placed in manual trading in accordance with the chosen strategy. However, in order to reduce locking losses, one should strive to choose a level where the probability of flat formation is small. If, in the course of work, a flat is noticed at the level of the initial locking line, which leads to frequent triggering of the lock, it is advisable to move the line manually outside the flat border.
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2. Organized the transfer of closing the lock to the breakeven point.
3. Trailing of the initial locking line is organized.
New input parameters have been introduced:
- Initial stop loss of the lock - initial stop loss of the lock (points). The initial stop-loss of a lock is set at the moment the pending lock turns into a market lock. For example, 100 points up for a SELL lock.
- Break Even - break-even point (anticipating the closing of the active lock when the price returns in the direction of the profit of the main position, after the activation point, in points from the level of the initial locking line). For example, 100 points down from the initial locking line level (for SELL lock).
- Activation for Break Even - the break-even level activation point, in points from the level of the initial locking line. For example, 300 points down from the initial locking line level (for a SELL lock).
- Trailing the initial lock line - offset from the current price of the Forex asset to the initial locking line when trailing the initial locking line following the price movement towards profit (points). For example 500 points. (0 - trailing disabled).
2. It is allowed to use various Magic for the main positions and for the lock. This simplifies the insurance of positions established by another robot.