I have been a member of this forum for some time time now but, have not involved myself in any way until now. I am always checking in to see what new developments there are and what new EA’s are being developed. I am a member of Forex TSD and Forex Nirvana as well. Whilst each of them is different and helps me in my understanding various aspects of the forex world, I have to say that this forum attracts most of my attention. Thanx to all of you, especially Funyoo, who has already helped me with something.
Enough of the long winded intro.
I work full time and have recently acquired the LMT system. So far it is working very well. I live in South Africa where the daily candle ends at midnight. I trade the 4 hour candle at 8PM and drag myself out of bed to trade the daily at midnight.
The way it works is that an alert pops up which identifies potential trades with suggested Stoploss and first target ( in pips ). Further manual checks are required before a decision to trade is taken. I enter the Lots, Stoploss and Take Profit and go back to bed. Whilst this is working for me so far, it is not really correct. Here is why :
Once the suggested first target is achieved, it would be good to close half (or more) and Trail with the balance.
A simple Moving Average is used. If a long position was open and the candle ended below the MA, then the Position should be closed. The opposite applies for a short position.
As I mentioned earlier, dragging myself out of bed at midnight to check for and possibly make a trade or two is not really conducive to clear thinking.
For this reason I use two very nice scripts, namely “Simple Buy” and “Simple Sell” They really take the thinking out of it and, quite frankly, if it was not for them I probably would have made quite a few mistakes by now. I have set them up with Hotkeys “Ctrl B” and “Ctrl S”. When used a Pop-up prompts for Lots, SL and TP (in pips). Couldn’t be simpler.
So, the opening of the positions is easy. What is not taken care of is the closing a percentage, the trailing and the closing if the MA is crossed.
This is where I was hoping for some help. I would like to be able to “Hotkey” an EA onto the chart which would take care of the rest. The parameters should be pre-settable so that once set they do not have to be messed with unless required. I hope there is somebody who is willing to help me with this.
For those who have not seen or used Simple Buy / Simple Sell I have included it here. PS. I found them on this forum.
Thanking you in advance
Wobstix – Work is love made visible