{quote} Hi jeanlouie Dear quoting your this post for to have your kind attention and consideration though the topic is totally different ---------------------- "Floating TP SL EA" Do you have or know any or can possibly manage time creating a very unique but extremely effective EA that work like this way,kind of extra safety measures Though it looks like simply 2 floating lines (tp/sl) but practically it is a bit complicated (sorry for requesting the difficult code) - in the same time it is very useful and handy Addon that will help and...
We have to consider that the tool would only work if it has connection to the broker, if any positions need to be modified... as mentioned in Jeanlouie's post, the order would have to already have the stop placed... This however can be achieved already in several ways by using 'order panels' or the inbuilt 'Market Watch' window (Alt + B shortcut) .. which allows one to have additional inputs for sl and tp with the trade opening... correct me if I am wrong, I think most brokers will accept at least those 3 parameters for an order (entry, sl, tp).. so that way the risk of opening an order without a stop can be mitigated, even if a disconnect occurs right as the order is sent to the broker. yet, if these are not accepted, upon opening the orders can be automatically modified with the levels... so the probability of a disconnect before that can happen would likely be very low.
The next thing that comes to mind is the trading itself.. the trader without stops would likely have their way to manage risk and can use an emergency stop sent with their entry. The case where a trader has a 'hidden' normal stop and a broker-side (visible on chart), it is already accounted for.. that is it's job in a disconnect.. and along with managing risk, likely not a significant issue if the worst case happens. We also have to think about connecting again, and it is also possible in that time that nothing significant happens... and the trader re-connects. In the case of extreme volatility and gaps, those market surprises... are a more likely time to disconnect... in that case, it may just be that the sl is executed at a worse position.. regardless if there was position requests sent in/ already in the market...
Having those 2 stop levels is a trader's choice, that should go with their own way of trading, yet I am not sure it will apply to everyone... because everyone trades differently.. in some way.
I do agree that something could be run on VPS that will monitor the level of the 'hidden sl' and in case of a disconnection would cover the trader. Maybe if a trader uses a 'trailing' stop or profit... but this would be strategy dependent towards the trading done... and unfortunately will not likely save a trader with a not so good strategy towards the markets...
Another way to move it is by 'proximity'.. trigger the modification/ movement/ hidden exit monitoring when price gets close enough either by point distance or %... maybe with some delay as mentioned by others...
Hope that is of help
"Work hard, put in the effort, and follow your dreams..." -Me
. i know absolutely nothing about codes. thank u so much guys.
