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Thread: Managing an open trade

  1. #1
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    Default Managing an open trade

    hello funyoo,
    is it possible to make ea with similar management properties as
    those of atm strategies of ninja trader software??
    for example i'm describing some of them..
    st,tp and step trailing with three different targets and possibility to follow price action x pips on every step..
    regards

  2. #2
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    Default managing an open trade

    please if something like that already exists let me know..
    and don't tell me about swissarmy ea, cave manager ea, maurotrailing ea
    because they do not manage a position like this..
    regards

  3. #3

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    What is your method to "follow price action every step"?

  4. #4
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    Default

    this means that after xxx-pips the stop loss will move according to price action..for eg..2pips behind price
    please see atm strategies of ninjatrader software.. they describe it better than i will do..
    Qty
    Sets the quanity for the stop loss and profit target orders

    Stop Loss
    Sets the value that determines the stop loss price. If the value is set to 4 (ticks) and your average entry for the initiating order is 1000 and you are long, your stop loss would be submitted at AvgEntry - Stop Loss = 1000 - 4 ticks = stop price of 999. This assumes each tick is valued at 0.25.

    Profit Target
    Sets the value that determines the profit target price. If the value is set to 4 (ticks) and your average entry for initiating the order is 1000 and you are long, your profit target would be submitted at AvgEntry + Profit Target = 1000 + 4 ticks = 1001 profit target. This assumes that each tick is valued at 0.25.

    Stop Strategy
    Sets the stop strategy
    Auto Trail Parameters

    Stop Loss
    Sets the value of the stop loss order as an offset

    Frequency
    Sets the value of how frequent the stop loss order is adjusted

    Profit Trigger
    Sets the amount of profit required to trigger the initial stop loss adjustment for the step


    also

  5. #5
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    Default

    the best i think is the auto trail parameters as follows
    Auto Trail Parameters in three different steps:
    Stop Loss
    Sets the value of the stop loss order as an offset
    Frequency
    Sets the value of how frequent the stop loss order is adjusted
    Profit Trigger
    Sets the amount of profit required to trigger the initial stop loss adjustment for the step

    is this possible with an mt4 ea????????????????
    also autobreakeven=Auto Breakeven Parameters

    Profit trigger
    Sets the amount of profit required to move the stop loss to a breakeven value

    Plus
    Sets the amount added to the breakeven value

  6. #6

    Default

    Trailing stops works well only if price action is trending smoothly in a direction
    with least volatility. However, we know that it's not the case in forex (maybe for certain stocks).

    Not sure if this approach can be programmed into a exit managment EA?
    Use higher timeframe say, 1hr attached S&R as the main stops levels and lower timeframe say, 15mins S&R levels to trigger/decide when to move the stops.
    Attached Files Attached Files

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Tags for this Thread

100, atm, average, forex, funyoo, main, mt4, pips, price action, profit, software, stocks, stop, strategies, trader, trailing

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