Forex platforms with ability to put Breakeven Stops | Forex Factory

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Query: Moving Stops to Breakeven 89 replies

Forex platforms with ability to put Breakeven Stops

  • #1
  • First Post: Aug 29, 2006 5:00pm Aug 29, 2006 5:00pm
There are lots of the Forex platforms that give the ability to use a trailing stop....but is there any that offers a "Breakeven Stop" eg if you sell EUR/$ AT 1750 with stop loss at 1800 if it hits 1700 the stop moves to 1750 (breakeven) and stays there and does not carry trailing. Interested in such a thing because I dont have time to watch the markets all the time.
  • #2
  • Aug 29, 2006 5:13pm Aug 29, 2006 5:13pm
I built my own expert advisor for MetaTrader4 for this. Actually, there's take profit code as well. I think I have an EA just for moving stops, too, if you're interested. I'd have to look at it and see if it's in shape.

http://strategybuilderfx.com/showthread.php?t=16297
  • #3
  • Aug 29, 2006 5:18pm Aug 29, 2006 5:18pm
Hi,
The short answer is yes.

Platforms that allow Expert Advisor type programs can allow you to use just about any exit/stoploss strategy you can think of or can create the logic for.
For instance, MetaTrader, I'm sure someone has written an EA that "Baby sits" an ongoing trade for you doing exactly as you say. If they haven't, it's totally possible to make one and it would be amongst the easiest strategies to program.

Cheers,
Bundy
Bundy's status today: "Waiting..."
  • #4
  • Aug 29, 2006 10:47pm Aug 29, 2006 10:47pm
Guys, I see.
But with Metatrader there is another problem: EA can work only when PC is in internet and Metatrader is working. It's dangerous to have PC always (during day and night) working.

I try to find such Forex platforms that let Breakeven Stops run on remote servers, so internet connection, and computer being shut, don't affect strategy execution.
  • #5
  • Aug 30, 2006 8:18am Aug 30, 2006 8:18am
Quoting yaskevich
Guys, I see.
But with Metatrader there is another problem: EA can work only when PC is in internet and Metatrader is working. It's dangerous to have PC always (during day and night) working.

I try to find such Forex platforms that let Breakeven Stops run on remote servers, so internet connection, and computer being shut, don't affect strategy execution.
You can spend $30 a month and lease a windows VPS server where you can run MetaTrader and all of your EA's. Otherwise, I don't know of a server based solution, though, I'm sure one of the brokers has one.
  • #6
  • Aug 30, 2006 9:22am Aug 30, 2006 9:22am
Quoting stockwet
You can spend $30 a month and lease a windows VPS server where you can run MetaTrader and all of your EA's. Otherwise, I don't know of a server based solution, though, I'm sure one of the brokers has one.
Stockwet,

Do you have any vendors in mind that offer windows VPS server lease?

Thanks
  • #7
  • Aug 30, 2006 9:26am Aug 30, 2006 9:26am
Quoting aparsai
Stockwet,

Do you have any vendors in mind that offer windows VPS server lease?

Thanks
No, I'd just do a search on google. I looked into it a couple months ago, but have decided to save my money for now until I actually have an EA I want to use regularly.

One thing to remember - you need to get a Windows, not Linux, VPS server. Sometimes, they don't tell you what server technology their using.
  • #8
  • Aug 30, 2006 9:31am Aug 30, 2006 9:31am
Quoting stockwet
No, I'd just do a search on google. I looked into it a couple months ago, but have decided to save my money for now until I actually have an EA I want to use regularly.

One thing to remember - you need to get a Windows, not Linux, VPS server. Sometimes, they don't tell you what server technology their using.
Thanks. I'll definitly keep that in mind.
  • #9
  • Aug 30, 2006 9:39am Aug 30, 2006 9:39am
What is a VPS solution??

If you're talking about a hosted situation, I would recommend that you do a "co-lo" where you buy the server, lock it down, etc., and have it running in a colo's site somewhere...

I use 1and1.com for my hosting provider, although I utilize their servers for non-trading based stuff... they're pretty darn good.

I do security for a living and most providers pass a datacenter audit very well. They're pretty darn secure and seem to have high standards for their employees, in terms of Information Security controls...
Mr. Trend
  • #10
  • Aug 30, 2006 1:39pm Aug 30, 2006 1:39pm
Quoting Mr Trend
What is a VPS solution??

If you're talking about a hosted situation, I would recommend that you do a "co-lo" where you buy the server, lock it down, etc., and have it running in a colo's site somewhere...
Mr Trend, could you explain, please, in more detail and plain English what means "do a "co-lo" ", and what means "colo's site" ?
  • #11
  • Last Post: Aug 30, 2006 2:16pm Aug 30, 2006 2:16pm
Quoting Mr Trend
What is a VPS solution??

If you're talking about a hosted situation, I would recommend that you do a "co-lo" where you buy the server, lock it down, etc., and have it running in a colo's site somewhere...

I use 1and1.com for my hosting provider, although I utilize their servers for non-trading based stuff... they're pretty darn good.

I do security for a living and most providers pass a datacenter audit very well. They're pretty darn secure and seem to have high standards for their employees, in terms of Information Security controls...
Ahh, so you haven't heard about the new VPS stuff, yet.

Well, it's really quite an interesting development in the hosting market. In typical shared scenario, you share all the resources with other users on your machine, including applications. So, you're limited to just the applications your hosting provider is willing to provide.

Enter VPS. With VPS, you are essentially partitioning the server - not in the hard drive sense of the word. You are taking a portion of the server and creating an almost mini server from that. Hardware is still shared, but, you're guaranteed minimum thresholds. The BIG advantage is that that server is like your own server - which means that you can install whatever software you want on your partition. I could put 3 installations of MetaTrader on there and run those instances at the same time if I wanted.

The cost factor for a VPS solution is much cheaper than co-lo. With co-lo, you'll pay at least $100 per month. With VPS, you can get solutions for about $30 per month.
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