This is used in conjunction with James16's method of Price Action. Part of this, as many of us know, is getting to break even and taking part profit at 20-30 pips profit. I am not always at the computer when this happens, so I think this could help me. I have tried some other EAs, but would like a custom one programed that is simpler.
I want for the EA only to control positions for the first portion of the trade. (moving to breakeven/taking some profit) After this happens, I will manually trail stops myself, as I will be in a 'free trade' and can give it more room to breathe.
EA activates after a limit/stop position has been entered. (I assume this is how they all work anyways)
EA will move stop to breakeven at X number of pips
EA will take 50% profit at X number of pips
The way I see it, this requires 2 variables
Move_Stop - This variable is the number of pips profit made before moving the stop to your entry price (for a breakeven trade)
Take_Profit - This variable is the number of pips profit made before taking 50% profit
Example.
Move_Stop 20
Take Profit 30
I enter long EURUSD on a limit buy at 1.1100 with a Stop loss order at 1.1000.
At 1.1120, the EA should move my stop loss order to 1.1100.
At 1.1130, the EA should sell half my position.
This should work for both long and short positions.
I would also like for the EA to send an alert to my cell phone every time it performs either of these actions.
If you feel this is something you can do, please let me know. Upon completion of an EA that works to my satisfaction, I would be willing to compensate the programmer with a couple hundred bucks. I know it is not much, but at least a small contribution to your time spent. Keep in mind I will likely distribute this to a few friends as well (but will NOT charge anyone for it)
Thanks in advance
I want for the EA only to control positions for the first portion of the trade. (moving to breakeven/taking some profit) After this happens, I will manually trail stops myself, as I will be in a 'free trade' and can give it more room to breathe.
EA activates after a limit/stop position has been entered. (I assume this is how they all work anyways)
EA will move stop to breakeven at X number of pips
EA will take 50% profit at X number of pips
The way I see it, this requires 2 variables
Move_Stop - This variable is the number of pips profit made before moving the stop to your entry price (for a breakeven trade)
Take_Profit - This variable is the number of pips profit made before taking 50% profit
Example.
Move_Stop 20
Take Profit 30
I enter long EURUSD on a limit buy at 1.1100 with a Stop loss order at 1.1000.
At 1.1120, the EA should move my stop loss order to 1.1100.
At 1.1130, the EA should sell half my position.
This should work for both long and short positions.
I would also like for the EA to send an alert to my cell phone every time it performs either of these actions.
If you feel this is something you can do, please let me know. Upon completion of an EA that works to my satisfaction, I would be willing to compensate the programmer with a couple hundred bucks. I know it is not much, but at least a small contribution to your time spent. Keep in mind I will likely distribute this to a few friends as well (but will NOT charge anyone for it)
Thanks in advance