so if I understand you correctly you are looking for the following
an additional section (similar to the SL and Hedge in terms of parameters) - which is "Breakeven Recovery"
this section would have a dollar amount of loss (which must be less than the SL or Hedge amount). It would also have a recovery value
Therefore when the basket losses exceed this amount, it would effectively set the TP to the recovery amount
so your examples would be -10 & 5, as soon as losses get to 10 usd set the tp to exit as soon as the price gets back to 5usd instead of the normal tp of xx usd
That's possible, I am not sure though about opening a basket immediately the other way - that might get very messy
You should wait though - as the new EA that is coming to work in conjunction with the basket trader is designed specifically to control the "recovery" of trades
regards, john
an additional section (similar to the SL and Hedge in terms of parameters) - which is "Breakeven Recovery"
this section would have a dollar amount of loss (which must be less than the SL or Hedge amount). It would also have a recovery value
Therefore when the basket losses exceed this amount, it would effectively set the TP to the recovery amount
so your examples would be -10 & 5, as soon as losses get to 10 usd set the tp to exit as soon as the price gets back to 5usd instead of the normal tp of xx usd
That's possible, I am not sure though about opening a basket immediately the other way - that might get very messy
You should wait though - as the new EA that is coming to work in conjunction with the basket trader is designed specifically to control the "recovery" of trades
regards, john
DislikedSince 6 pair basket was stuck in a range for around 80 bars today, thought it might be an opportunity to test Buy&Sell Limit and Stop Orders.
Unfortunately, only placed them towards the end of range period and Buy Limit was hit and went into instant drawdown, then a brief retrace.
My question to the More experienced traders/coders:
Would it be possible for TLE or the robot to track drawdown? If this exceeded a small preset amount, the robot would close the basket on retrace of half the amount.
eg.Drawdown -$10 followed by retrace. Exit trade at...Ignored