active trailing stop at moment order is placed in MT4? | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Looking for Trailing Stop EA like default MT4 trailing stop 7 replies

MT4 sell stop order SL and TP changed after being placed-is it possible? 5 replies

Help! - I need trailing Stop on every new order placed 4 replies

all order trailing stop from order placed point 14 replies

To Trailing Stop or Not To Trailing Stop.... 36 replies

active trailing stop at moment order is placed in MT4?

  • #1
  • First Post: Oct 8, 2009 10:04am Oct 8, 2009 10:04am
It's my understanding that in MT4, if you want a 50 pip trailing stop, your order must FIRST go 50 pips in your direction before the trailing stop is activated.

Is there anyway I can have an active trailing stop at the moment my order is placed?
Many choose unhappiness over uncertainty.
  • #2
  • Oct 8, 2009 10:28am Oct 8, 2009 10:28am
I think its only 15 pips.
  • #3
  • Oct 8, 2009 12:47pm Oct 8, 2009 12:47pm
no way I can do this with a 50 or 100 pip???? There has to be a way????
Many choose unhappiness over uncertainty.
  • #4
  • Oct 8, 2009 1:01pm Oct 8, 2009 1:01pm
hey dan.... Is there anyway I can have an active trailing stop at the moment my order is placed?

short answer is yes....

the trailing stop must be coded properly, but that's no biggie..... h
to trade and code, keep both simple... no call to impress....h
  • #5
  • Oct 8, 2009 2:18pm Oct 8, 2009 2:18pm
Quoting hayseed
hey dan.... Is there anyway I can have an active trailing stop at the moment my order is placed?

short answer is yes....

the trailing stop must be coded properly, but that's no biggie..... h
is this what I'm looking for:

http://www.forexfactory.com/showthread.php?t=199972



now I just need to figure out how to set it for 100 pip trailing...
Many choose unhappiness over uncertainty.
  • #6
  • Oct 8, 2009 2:49pm Oct 8, 2009 2:49pm
I use the trailing stop on the trade window (right click to get the menu choice) and have never had a problem. I can put it on as soon as the order is opened and it remembers what I want. Fire and forget. EAs are too complicated and buggy.
  • #7
  • Oct 8, 2009 3:04pm Oct 8, 2009 3:04pm
Quoting CodeMeister
I use the trailing stop on the trade window (right click to get the menu choice) and have never had a problem. I can put it on as soon as the order is opened and it remembers what I want. Fire and forget. EAs are too complicated and buggy.
That's what I was trying to do, but the problem is that your stop doesn't actually start trailing until your trade goes in your favor for the number of pips that your trailing stop is.

here's my dilemma...

lets say I want a 50 pip trailing stop on a trade, so I set it on my buy or sell order immediately after placing it.

the trailing stop is not even activated until my order moves 50 pips above my entrance price.

so if I make a long position and place a 50 pip trailing stop, but my trade only goes +25, then it goes down 100+ pips, I would never be stopped out of the position.

what I want is the trailing stop to be activated as soon as my order is placed, so if my trade only goes +25 pips, then goes down -100 pips, I'll be stopped out with only a -25 pip loss (+25 on the trade, then a 50 pip retrace back down = -25 pips)

unfortunatly metatrader doesn't work this way...
Many choose unhappiness over uncertainty.
  • #8
  • Oct 8, 2009 3:09pm Oct 8, 2009 3:09pm
Metatrader doesn't work that way. You may have to put up with the hassle of an EA. Good Luck.
  • #9
  • Oct 8, 2009 3:13pm Oct 8, 2009 3:13pm
Quoting Dan Gilbert
That's what I was trying to do, but the problem is that your stop doesn't actually start trailing until your trade goes in your favor for the number of pips that your trailing stop is.

here's my dilemma...

lets say I want a 50 pip trailing stop on a trade, so I set it on my buy or sell order immediately after placing it.

the trailing stop is not even activated until my order moves 50 pips above my entrance price.

so if I make a long position and place a 50 pip trailing stop, but my trade only goes +25, then it goes down 100+ pips, I would...

Hi Dan,

I'm sure you know it already, but you can of course set a standard SL limit and use the trailing stop in parallel. That should work as wished ....

Regards,
MaMood
  • #10
  • Oct 8, 2009 3:39pm Oct 8, 2009 3:39pm
Quoting MaMood
Hi Dan,

I'm sure you know it already, but you can of course set a standard SL limit and use the trailing stop in parallel. That should work as wished ....

Regards,
MaMood
yes I know, but I just like to have some trades play themselves out. and sometimes I'm not fast enough with my trigger finger lol...


the EA I found ( in the second post of this thread http://www.forexfactory.com/showthre...=1#post3130725 ) works really well and seems to run smoothly after I figured out what the settings meant on it...
Many choose unhappiness over uncertainty.
  • #11
  • Oct 8, 2009 4:23pm Oct 8, 2009 4:23pm
hey dan....
Quoting Dan Gilbert
is this what I'm looking for:

http://www.forexfactory.com/showthread.php?t=199972

...

not sure..... that is modfying the stops in steps...... not pip for pip..... is that what you want.....

only igor would know his purpose when he wrote that, asuming it's still his original work..... modifying in steps can cut down tremendously on the tradecontext work..... this is a wise move when very large numbers of orders are open..... odds are people like igor have such a need.......

....h
to trade and code, keep both simple... no call to impress....h
  • #12
  • Last Post: Oct 8, 2009 5:08pm Oct 8, 2009 5:08pm
Quoting hayseed
hey dan....



not sure..... that is modfying the stops in steps...... not pip for pip..... is that what you want.....

only igor would know his purpose when he wrote that, asuming it's still his original work..... modifying in steps can cut down tremendously on the tradecontext work..... this is a wise move when very large numbers of orders are open..... odds are people like igor have such a need.......

....h
well the way it is set up, I don't need all the different steps, but I just changed the inputs on the EA window so it moves the S/L up, trailing 100 pips, and I just made the "steps" 1 pip each.... seems like it works fine when I demo'd it.
Many choose unhappiness over uncertainty.
0 traders viewing now