Hi! all. I am 2 years full time demo trader. My biggest problem is not the point of entry, it is when to get out of the trade without giving back what i had. I believe in taking some profit along the run. But I realise that if i could just leave 25 % of my trade run where it suppose to go, then i just make less mistake. It keeps me from over trading.
I used to use MTP_2.4 to help me manage my trades.
Robdee developed a useful EA (UpdateStops)that i now use with a lot of satisfaction. Very nice work.
But when it come to take trade on a bigger time frame HA is for me a nice tool that help me to trail my Stops and maximize my profits without or less fear and greed (give the price a chance to get there).
In fact its kind of a dynamic SL: It will move the SL 1 or 2 pips on a HACandle and the next bar, the SL could move 6 to 7 pip or more. Its better then a static 20 pips trailing stop that you are sure to lose 20 pips at the end.
Im open to all suggestions and observations. Please tell me what you think about it. Here are some setting for externs variables.
Hardstop = (20) pip // Initial SL when the trade is open
MoveToBE = (10) pip // Will move the SL to BE if the trade have reach (x) pip but is still in opposite color
TakeProfit1 = (20) pip // Take first profit at (x) pip
TakeProfit2 = (30) pip // Take second profit at (x) pip
TakeProfit3 = (40) pip // Take Third profit at (x) pip
PercentClose1 = (25) % // Close (x) % of the trade after first TakeProfit1 is reach
PercentClose2 = (25) % // Close (x) % of the trade after second TakeProfit2 is reach
PercentClose3 = (25) % // Close (x) % of the trade after third TakeProfit3 is reach
TrailspikeCond = True // Will allow TrailSpike
TrailSpike = (10) pip // will trail from the current candle: if price went (x) pip of current HACandle... (close all)
TrailspikePip = (5) pip // Will trail (x) pip from the current candle (ex: trail by 5 pips STEP)
// In a SELL: When the EA find a range of 10 pips between the current low of the HACandle et the actual price
// it will start the trail of 5 pips.
CloseAll = true // if true, will Close All position at the condition (HACandle open opposite color)
// not if the HardStop is still on
HACandleTimeFrame = (15)M // Will Look at HACandle the (x) timeFrame only.
TrailFromXPrevCandle = (1) candle // Will trail from (x) HACandle (default = 1) (will look at the previous HACandle)
PutStopXPipFromHA = (2) pip // Will trail from (x) pip of the TrailFromXPrevCandle (default = 2)
Slippage = (3) pip // will accept (x) pip of slippage (default = 3)
(scenario)
A trade is open: SELL
1. The trade is place on Green HACandle, so the HardStop is place at 20 pips.
2. Then the price move 12 pips in our favor, but the HACandle is still Green. The SL is then put to BE.
3. In the same HACandle the price cross our first TakeProfit1(20pips), so it close 25% of the position.
4. Three Candle later the HACandle close Red, So the SL is move at the high + PutStopXPipFromHA(2 pips).
5. In the same candle the price reach our TakeProfit2. So it close 25% of the trade.
6. The next Candle, the SL is move again at the previous high + PutStopXPipFromHA(2 pips).
In the same Candle the price reach the TakeProfit3... So it close 25% of the trade.
7. We are lucky the price still go in our favor and we reach a little spike(yellow bar). So the Trailing Stop(5pips) is on
20 pips later it Close All remaining position. in this case is the last 25% of the position. ( the chart was edited for the purpuse of the scenario)
PS: I know that the HACandle are always in motion.. But when the EA find a 10 pips between the current HACandle and the actual price...
It Trigger the Trailing Stop.
I'm looking for peoples that could help me. I am no programmer.
Thank!!
I used to use MTP_2.4 to help me manage my trades.
Robdee developed a useful EA (UpdateStops)that i now use with a lot of satisfaction. Very nice work.
But when it come to take trade on a bigger time frame HA is for me a nice tool that help me to trail my Stops and maximize my profits without or less fear and greed (give the price a chance to get there).
In fact its kind of a dynamic SL: It will move the SL 1 or 2 pips on a HACandle and the next bar, the SL could move 6 to 7 pip or more. Its better then a static 20 pips trailing stop that you are sure to lose 20 pips at the end.
Im open to all suggestions and observations. Please tell me what you think about it. Here are some setting for externs variables.
Hardstop = (20) pip // Initial SL when the trade is open
MoveToBE = (10) pip // Will move the SL to BE if the trade have reach (x) pip but is still in opposite color
TakeProfit1 = (20) pip // Take first profit at (x) pip
TakeProfit2 = (30) pip // Take second profit at (x) pip
TakeProfit3 = (40) pip // Take Third profit at (x) pip
PercentClose1 = (25) % // Close (x) % of the trade after first TakeProfit1 is reach
PercentClose2 = (25) % // Close (x) % of the trade after second TakeProfit2 is reach
PercentClose3 = (25) % // Close (x) % of the trade after third TakeProfit3 is reach
TrailspikeCond = True // Will allow TrailSpike
TrailSpike = (10) pip // will trail from the current candle: if price went (x) pip of current HACandle... (close all)
TrailspikePip = (5) pip // Will trail (x) pip from the current candle (ex: trail by 5 pips STEP)
// In a SELL: When the EA find a range of 10 pips between the current low of the HACandle et the actual price
// it will start the trail of 5 pips.
CloseAll = true // if true, will Close All position at the condition (HACandle open opposite color)
// not if the HardStop is still on
HACandleTimeFrame = (15)M // Will Look at HACandle the (x) timeFrame only.
TrailFromXPrevCandle = (1) candle // Will trail from (x) HACandle (default = 1) (will look at the previous HACandle)
PutStopXPipFromHA = (2) pip // Will trail from (x) pip of the TrailFromXPrevCandle (default = 2)
Slippage = (3) pip // will accept (x) pip of slippage (default = 3)
(scenario)
A trade is open: SELL
1. The trade is place on Green HACandle, so the HardStop is place at 20 pips.
2. Then the price move 12 pips in our favor, but the HACandle is still Green. The SL is then put to BE.
3. In the same HACandle the price cross our first TakeProfit1(20pips), so it close 25% of the position.
4. Three Candle later the HACandle close Red, So the SL is move at the high + PutStopXPipFromHA(2 pips).
5. In the same candle the price reach our TakeProfit2. So it close 25% of the trade.
6. The next Candle, the SL is move again at the previous high + PutStopXPipFromHA(2 pips).
In the same Candle the price reach the TakeProfit3... So it close 25% of the trade.
7. We are lucky the price still go in our favor and we reach a little spike(yellow bar). So the Trailing Stop(5pips) is on
20 pips later it Close All remaining position. in this case is the last 25% of the position. ( the chart was edited for the purpuse of the scenario)
PS: I know that the HACandle are always in motion.. But when the EA find a 10 pips between the current HACandle and the actual price...
It Trigger the Trailing Stop.
I'm looking for peoples that could help me. I am no programmer.
Thank!!
