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Trade Manager EA with partial close take profit 17 replies
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Dislikedlet's say not $500 but $5 with small lot size and pair EURUSD. Set Parameters: Lot size = 0.05 Number of lots allowed for same pair in same direction = 5 Take profit = $5 Include Commission = Yes Include Swap = Yes Open new Grid Trade When losing trade = -$500 (You may reduce it to $-50 up to you) Include Commission = No Include Swap = No Market moves in both directions. EURUSD Sell Trade in positive $5 EURUSD Buy Trade in negative $-5 1- The EA automatically close EURUSD Sell Trade with $5 profit and reopen new Sell Trade of same lot size. 2- The...Ignored
DislikedI am not sure I understand this correctly. You close the trade in profit - then re-open exactly the same size in the same direction? Why? Why close it at all, surely you are only paying the spread twice? I thought this was similar to my own strategy, but I would have either a) waited for pullback to re-enter in same direction or b) added a 2nd position in the opposite direction. Please clarify, I am really interested in what you are doing.Ignored
Disliked{quote} Ok, so let me get this straight. you open a buy and sell at say 1.05 with a lot size of 0.05. The market moves up to 1.06, and you close your buy order and get $5 units. so option a.) then you open another buy order at 1.06. Now you have a buy order with the lot size 0.05 that has moved 0 points and worth $0, and a sell order of a lot size 0.05 that is worth $-5. This option has 2 total open orders. or b.) You open a new buy and sell at 1.06, you also leave the old sell order that is now $-5, and wait until the old sell order either goes...Ignored
DislikedI trade on a grid system, I also understood the concept of Martingale to be increasing the lot size on new positions. Unless I am misunderstanding your system, you are simply widening the gap between the buy and sell positions, and unable to move in either direction when the market ranges. (I have ended up in this position several times and learnt from it). You also end up paying commission/spread on those open positions.Ignored
Disliked{quote} Yes you are right the option a.) then you open another buy order at 1.06. Now you have a buy order with the lot size 0.05 that has moved 0 points and worth $0, and a sell order of a lot size 0.05 that is worth $-5. This option has 2 total open orders. So you keep going with market moves and $5 pips. However, well the EA should close Sell lots for that particular pair and eave BUY lots opened.Ignored
Dislikedcyguy; Take profit EURUSD SELL $5. EURUSD BUY -$5 after 50 pips use 2 X GRID and then after 100 pips difference martingale to close EURUSD BUY -$50 with $5 profit or close at breakeven. Imagine if you have balance of $700,000 and you are trading with 0.01 lot size. Stable system and regular income is what we need. Consistency comes with slow practice and sticking to it. There is no 100% set and forget EAs. We have to monitor once a while. Just for stats. - one can make decent income with small 10% per month return. It gives on 213% per annum. If...Ignored
Quoting heldavDislikedI still see no purpose whatsoever in exiting a position simply to replace it with another identical size.Ignored