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Attachments: Request trailing takeprofit indicator or ea
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Request trailing takeprofit indicator or ea

  • Post #21
  • Quote
  • Edited 10:11pm Nov 7, 2019 6:53pm | Edited 10:11pm
Quoting mladen
{quote} Try it in trading
I don't think you understand, it's a trailing limit order. Cja already made ea of trailing limit order

Only difference is trailing TP closes a position that is already open instead of opening new position ( like a stop loss is a stop order that closes a position instead of opening a new one).

Seems people have hard time understanding this concept?
if you don't do your maths, the maths will do you.
Quoting BubaYaga
{quote} I don't think you understand, it's a trailing limit order. Cja already made ea of trailing limit order Only difference is trailing TP closes a position that is already open instead of opening new position ( like a stop loss is a stop order that closes a position instead of opening a new one). Seems people have hard time understanding this concept?
Seems that simple sentences like "Try it in trading" are out of comprehension reach in some cases (I assuming that they (the sentence(s) are understood). Whatever ...
All the best
Quoting mladen
{quote} Seems that simple sentences like "Try it in trading" are out of comprehension reach in some cases (I assuming that they (the sentence(s) are understood). Whatever ... All the best
"Try it in trading" - try what in trading? The imaginary trailing take profit EA?

Alright mladen, I will try the non- existent trailing tp EA in trading. Thank's so much for this valuable input.

All the best to you also..
if you don't do your maths, the maths will do you.
Quoting mladen
No such thing as trailing take profit (trail -> tp trailing price, even by definition it is not possible, or, if it is happening change your broker ASAP)
Of course it is possible by definition.
Trailing take profit only moves as trade increases in drawdown, possibly going negative and becoming a trailing take loss.

Seems a lot of people like mladen are confusing this with an order that moves away as price gets closer.
It's bad luck to be superstitious
Quoting zoo
{quote} Of course it is possible by definition. Trailing take profit only moves as trade increases in drawdown, possibly going negative and becoming a trailing take loss. Seems a lot of people like mladen are confusing this with an order that moves away as price gets closer.
Literally just a trailing limit order..
It's bad luck to be superstitious
Quoting zoo
{quote} Literally just a trailing limit order..
Yeah, concept was a bit too confusing for some.

Solution I came up with was to use this ea (made by cja) as a take profit order.

But must be on a netting account of course. If you have a hedging account you need to contact your broker and ask them to change it to netting.

Have a great day.
Attached File(s)
File Type: ex4 Trailing Limit Orders.ex4   4 KB | 215 downloads
if you don't do your maths, the maths will do you.
Quoting zoo
{quote} Of course it is possible by definition. Trailing take profit only moves as trade increases in drawdown, possibly going negative and becoming a trailing take loss. Seems a lot of people like mladen are confusing this with an order that moves away as price gets closer.
I have nothing to add to my previous answers ...
The Close-By facility allows traders to close two hedged orders by cancelling each other out.

It’s worth noting that if a broker has disabled this option in their MT4 server the Close-by option will not appear.

Attached Image (click to enlarge)
Click to Enlarge Name: Close-by-option-768x388.png Size: 103 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Close-by-option-2-768x380.png Size: 93 KB
if you don't do your maths, the maths will do you.
Quoting mladen
{quote} I have nothing to add to my previous answers ...
Assuming your broker has "Close-by" function enabled.
Is it possible to create an Expert Advisor?
As soon as a hedged position become established, execute a "Close-by" order to close both positions.

This EA would enable an MetaTrader4 account with "Close by" function enabled, to become auto-netting.
if you don't do your maths, the maths will do you.
If you use a trailing stop loss in conjunction with trailing take profit, as price moves moves around, going lower and then moving higher. The trailing orders strangle in on price until one gets triggered.
-It is an interesting idea.
It is a shame the coder's who commented were not very helpful.
Quoting mladen
{quote} I have nothing to add to my previous answers ...
ROFL
Quoting Horne
If you use a trailing stop loss in conjunction with trailing take profit, as price moves moves around, going lower and then moving higher. The trailing orders strangle in on price until one gets triggered. -It is an interesting idea.
i sometimes do this manually with stop/limit orders, or once the orders are established by dragging around the tp sl values on the chart, doing it visually odffers th ebenefit of backing away oif you decide the trend is not reversing, good for options that have hiogh costs to open . i think an ea wouldnt consider market trend and just lower it as it was programmed to do and youd get stopped out mush sooner than if u went by price action
Quoting mladen
No such thing as trailing take profit (trail -> tp trailing price, even by definition it is not possible, or, if it is happening change your broker ASAP)
Of course it is possible, what an absurd thing to say.
It dose not move as price approaches it, only when price moves away.
I've been manually trailing my take profit orders for years. That is the only way I exit my trades now. I haven't used a stop loss in a long time..
Quoting mladen
{quote} Try it in trading
alright, I'll "try it in trading"with an example.

XAUUSD entry buy @1665.37
take profit is 1695.37 (will make this a 300 pip trailing tp)

(distance between current price and tp may be less than 300 pips, but not greater than 300 pips)
Attached Image (click to enlarge)
Click to Enlarge Name: gold trailing tp eg.png Size: 48 KB
if you don't do your maths, the maths will do you.
Quoting mladen
{quote} Try it in trading
The trade had a drawdown of 116.7 pips.
This brought the trailing tp 116.7 pips lower (originally @1695.37 down to 1683.7)
Price came back up after the draw down and hit the trailing take profit @ 1683.7
Closed +183.3pips
Attached Image (click to enlarge)
Click to Enlarge Name: gold trailing tp eg.png Size: 48 KB
if you don't do your maths, the maths will do you.
  • Post #37
  • Quote
  • Last Post: Sep 21, 2022 6:48pm Sep 21, 2022 6:48pm
Quoting BubaYaga
{quote} The trade had a drawdown of 116.7 pips. This brought the trailing tp 116.7 pips lower (originally @1695.37 down to 1683.7) Price came back up after the draw down and hit the trailing take profit @ 1683.7 Closed +183.3pips {image}
and well done
ONE MUST LEARN, DO IT AND IT WILL BE KIND TO YOU
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