I am wondering if anyone is aware of an order entry tool, EA or software that will allow me to place specific trades quickly and easily. Customizable and allowing for multi-position entry with different TP for each position and automatic locking in of profits as each profit level is hit.
For example: Click Buy - EA automatically opens 4 Positions - Position #1 = .10 with 1:1 RR
Position #2 = .025 with 2:1 RR
Position #3 = .025 with 3:1 RR
Position #4 = .025 with 5:1 RR
The idea is to have multiple entries entered at the same time and have stop moved to BE on all positions automatically once 1:1 is hit. Position #1 would then be closed.
Positions #2 - 4 would be allowed to hit each successive profit target and then either closing as each new profit level is hit or even better would be if the stop was moved up one level each time a new profit level was reached.
Ideally, something with great flexibility while also being able to lock in specific trade parameters for repeat trades with the same parameters for quick entry. If it would allow for just entering in the number of pips for the stop loss to determine 1:1 - 5:1 take profit levels it would be fantastic.
The general idea is to have the first position that is the most likely to hit its profit target, be the larger position. This will essentially make the rest of the positions risk-free. Allowing for more immediate gratification and profitability but still being able to take advantage of a larger move without increasing risk.
I am currently doing all of the above manually with great success but it would be far better if it could be automated, allowing for quick multi-entries on multiple pairs and set-ups at the same time.
This truly gives us the best of both worlds and would be really helpful for many traders out there. Anybody got any ideas?
Thanks in advance!
For example: Click Buy - EA automatically opens 4 Positions - Position #1 = .10 with 1:1 RR
Position #2 = .025 with 2:1 RR
Position #3 = .025 with 3:1 RR
Position #4 = .025 with 5:1 RR
The idea is to have multiple entries entered at the same time and have stop moved to BE on all positions automatically once 1:1 is hit. Position #1 would then be closed.
Positions #2 - 4 would be allowed to hit each successive profit target and then either closing as each new profit level is hit or even better would be if the stop was moved up one level each time a new profit level was reached.
Ideally, something with great flexibility while also being able to lock in specific trade parameters for repeat trades with the same parameters for quick entry. If it would allow for just entering in the number of pips for the stop loss to determine 1:1 - 5:1 take profit levels it would be fantastic.
The general idea is to have the first position that is the most likely to hit its profit target, be the larger position. This will essentially make the rest of the positions risk-free. Allowing for more immediate gratification and profitability but still being able to take advantage of a larger move without increasing risk.
I am currently doing all of the above manually with great success but it would be far better if it could be automated, allowing for quick multi-entries on multiple pairs and set-ups at the same time.
This truly gives us the best of both worlds and would be really helpful for many traders out there. Anybody got any ideas?
Thanks in advance!