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Automatic stop loss change

  • #1
  • First Post: Aug 9, 2009 9:35am Aug 9, 2009 9:35am
Hello.

Lets say I enter a trade (BUY) on EU at 1.4000 and set profit at 1.4500 and stoploss somewhere below. And now when price is gone to 1.4250 (+250 pips for me) I want to set my stoploss to BE or + few pips. Lets say 1.4010 (+10 pips). Is there anyway to do that automatic? I mean if I'm not looking at charts I want stoploss to place it self at 1.4010 in this case.
I hope you understand.
Thanks
  • #2
  • Aug 9, 2009 11:58am Aug 9, 2009 11:58am
I'd like to know this too. I'm only familiar to trail stop.
  • #3
  • Aug 9, 2009 5:56pm Aug 9, 2009 5:56pm
I can make a script for you.
  • #4
  • Aug 10, 2009 8:26am Aug 10, 2009 8:26am
I've been trying to get this to work myself. I'm not sure what I'm doing wrong but I keep getting Modify Order Error 1 and 130 a lot ( i know what the 130 is).

I've managed to increase my t/p on a stoploss for increasing gains for longs. I can't seem to get that same technique to work for shorts. Nor can I seem to make it increase S/L or T/P when the price moves up.
  • #5
  • Aug 10, 2009 8:53am Aug 10, 2009 8:53am
Quoting GrStaKa
I've been trying to get this to work myself. I'm not sure what I'm doing wrong but I keep getting Modify Order Error 1 and 130 a lot ( i know what the 130 is).

I've managed to increase my t/p on a stoploss for increasing gains for longs. I can't seem to get that same technique to work for shorts. Nor can I seem to make it increase S/L or T/P when the price moves up.
Modify error 1 usually has to do with the order's stoploss/takeprofit being modified with a change of 0.
  • #6
  • Aug 10, 2009 10:29am Aug 10, 2009 10:29am
Quoting Ronald Raygun
Modify error 1 usually has to do with the order's stoploss/takeprofit being modified with a change of 0.
really? so if I wanted to change the t/p I can set the stoploss to ,OrderStopLoss(), Bid-point*TakeProfit, etc?

Do I need to use Ask on long and shorts for stop loss? Or should shorts be switched to bid? Maybe thats where I'm screwing up?
  • #7
  • Aug 10, 2009 10:38am Aug 10, 2009 10:38am
Not what I meant.

If

Old SL = 1.0000

OrderModify (New SL = 1.000)

the EA returns error code 1
  • #8
  • Aug 10, 2009 1:29pm Aug 10, 2009 1:29pm
Quoting Ronald Raygun
Not what I meant.

If

Old SL = 1.0000

OrderModify (New SL = 1.000)

the EA returns error code 1

Right, I understood that. I was just seeking clarification if I was using improper code that was returning that result. I thought if I plugged in OrderStopLoss(), ask - point + takeprofit +.00080, then it would not try to change the stoploss at all.

Either my calls doing it, or I'm doing it inadvertantly by coding the T/P wrong. I'm kind of a noob at this stuff so I don't know. I can fix PC's in under 45 seconds flat but my coding skills are on the level of basic batch files and vbs script modifications.
  • #9
  • Last Post: Aug 12, 2009 9:13am Aug 12, 2009 9:13am
I got this function to work by adding a value to Ask+Point * TakeProfit + 0.00080 for example.

My take profits now modify themselves to increase as the trailing stops increases. No more mere break evens!! I do get a few modify order 1 errors.

My issue with prior was due to too the deletion of the Else Statement on my part :/ ... took me days to figure that out!
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