Calling FxPro - help with 2 target levels | Forex Factory

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Calling FxPro - help with 2 target levels

  • #1
  • First Post: Edited Jul 14, 2015 5:09am Jul 13, 2015 5:16pm | Edited Jul 14, 2015 5:09am
Hi,



I really like the idea of your negative balance protection as an added back up should something bad happen in the markets where you get slipped... I know stop losses don't, and won't always work. Hats off to you for that!

However, I have a problem I was hoping you could help me with. I am a swing trader that trades 4H charts and up. Consequently, I hold positions for up to a few months. I also use two target profit levels.

I'm already surprised you don't support professional trading platforms (NinjaTrader, eSignal). I really dislike MT4, however I can deal with having to use cTrader to benefit from your balance protection.

But what seems even stranger is that in order for 2 target positions to work (which Mt4 doesn't even do..), my PC has to be connected to cTrader. Are you saying then, that I have to keep my PC on for months 24/7 just for 2 target levels to be functional?

Surely this isn't true? Any explanation would be very useful..
  • #2
  • Jul 14, 2015 2:22am Jul 14, 2015 2:22am
Quoting flinx
Hi, I really like the idea of your negative balance protection as an added back up should something bad happen in the markets where you get slipped... I know stop losses don't, and won't always work. Hats off to you for that! However, I have a problem I was hoping you could help me with. I am a swing trader that trades 4H charts and up. Consequently, I hold positions for up to a few months. I also use two target profit levels. I'm already surprised you don't support professional trading platforms (NinjaTrader, eSignal). I really dislike MT4, however...
I've had tp's and adjusted stops hit while not being logged in and away from computer
Never said I was Batman,all I'm saying is you'll never see us together.
  • #3
  • Jul 14, 2015 5:08am Jul 14, 2015 5:08am
Quoting headfake
{quote} I've had tp's and adjusted stops hit while not being logged in and away from computer
Hi,
I understand normal stops and targets work. But for some reason anything with more than one target seems to need to have the website running while the trade is open? Isn't this a bit rediculous?

I'm a swing trader that uses 2 target levels (That's nothing out of the ordinary)?
  • #4
  • Jul 14, 2015 5:29am Jul 14, 2015 5:29am
Quoting flinx
{quote} Hi, I understand normal stops and targets work. But for some reason anything with more than one target seems to need to have the website running while the trade is open? Isn't this a bit rediculous? I'm a swing trader that uses 2 target levels (That's nothing out of the ordinary)?
ah my bad, yes I agree thats not great at all, if you don't get an answer here c trader have their own forum you could try... post the link here if you do
Never said I was Batman,all I'm saying is you'll never see us together.
  • #5
  • Jul 14, 2015 5:38am Jul 14, 2015 5:38am
Use half (or whatever % you want to allocate on it) the desired size for first target, the remaining for second target.

The rules for closing must be identical (apart from the fact that closing price should be different).

That way, you don't have to bother with complicated system, and you don't need to be logged

Have a great day

PS : And by the way, except if your platform don't handle hedging, the best negative balance protection you can getduring the week end is opening an opposite trade => profit locked, no matter if you have week open gap
  • #6
  • Jul 14, 2015 5:51am Jul 14, 2015 5:51am
Sorry, I don't think I understand your post. I understand how 2 targets work, my point is that FxPro cTrader says you have to have the client running in order for this to work. I wanted to ask them if this is true, and if so, why? As this means clients will have to have their computers on basically 24/7 for their targets to work.

For example in NinjaTrader you set 2 targets to take off half position at one price (T1) and half at another (T2), and that's it. You can close the application/turn off your PC, whatever - your target is set.

According to the FxPro website it appears you actually have to have the cTrader client running for this to work. I would like to find out if this is true or if I'm reading it wrong. It seems very silly to have to have my PC running all the time.
  • #7
  • Jul 14, 2015 7:09am Jul 14, 2015 7:09am
Quoting flinx
Hi, I really like the idea of your negative balance protection as an added back up should something bad happen in the markets where you get slipped... I know stop losses don't, and won't always work. Hats off to you for that! However, I have a problem I was hoping you could help me with. I am a swing trader that trades 4H charts and up. Consequently, I hold positions for up to a few months. I also use two target profit levels. I'm already surprised you don't support professional trading platforms (NinjaTrader, eSignal). I really dislike MT4, however...
Hi Flinx,

I understand that you are referring to cTrader's 'Advanced Take Profit' feature which allows you to set up multiple Take Profit levels. This feature is indeed held terminal side, much like Robots and Trailing Stops, so your platform must be connected in order for it to work. It is not held server side like regular Stop loss and Take profit orders.

You will notice that for the Advanced take profit of cTrader, you specify number of pips for each level, so the platform would need to be connected in order to calculate how many pips the price has moved.

You can also do this on MT4, however, you would need to create a script for this, and again your platform would need to be connected for it to work.

One solution for this is to use a VPS. We offer VPS to our clients for $30 per month or free to VIP clients. The VPS will ensure that your platform is connected 24/5, allowing for your scripts/EAs to operate correctly.

Please get back to us should you require any further information at all.

Kind regards,

Lianna
  • #8
  • Jul 14, 2015 8:08am Jul 14, 2015 8:08am
Quoting Lianna@FxPro
{quote} Hi Flinx, I understand that you are referring to cTrader's 'Advanced Take Profit' feature which allows you to set up multiple Take Profit levels. This feature is indeed held terminal side, much like Robots and Trailing Stops, so your platform must be connected in order for it to work. It is not held server side like regular Stop loss and Take profit orders. You will notice that for the Advanced take profit of cTrader, you specify number of pips for each level, so the platform would need to be connected in order to calculate how many pips...
So it is true that in order for me to operate using 2 targets, you would expect me as a swing trader to have my computer running 24/7?

Why don't you just do it server side and close half of the position at price 1 and the other half at price 2? Why isn't this possible?

The only solution is for me to buy a VPS with you so I can have my targets work?
Thanks,
  • #9
  • Jul 14, 2015 8:42am Jul 14, 2015 8:42am
Quoting flinx
{quote} So it is true that in order for me to operate using 2 targets, you would expect me as a swing trader to have my computer running 24/7? Why don't you just do it server side and close half of the position at price 1 and the other half at price 2? Why isn't this possible? The only solution is for me to buy a VPS with you so I can have my targets work? Thanks,
Unfortunately, this is the way that the platforms work, it is not an FxPro decision.

Take profits are held on our server, but if you want to use advanced take profit or a robot which incorporates 2 take profits on the same trade, then this will be held terminal side.

It is for this reason, usually with EAs/robots, that traders opt to use a VPS. Not only will it ensure that your platform is connected 24/5, but it will also greatly reduce latency.

Lianna
  • #10
  • Jul 14, 2015 9:45am Jul 14, 2015 9:45am
So, a VPS is my best option?

I don't trade an EA/robot, I use my own analysis to determine entry points. The only thing I need automatic is 2 target levels at specific points. Would trading through your VPS allow me to do this?

Thanks
  • #11
  • Last Post: Jul 15, 2015 7:40am Jul 15, 2015 7:40am
Quoting flinx
So, a VPS is my best option? I don't trade an EA/robot, I use my own analysis to determine entry points. The only thing I need automatic is 2 target levels at specific points. Would trading through your VPS allow me to do this? Thanks
If you are using the cTrader 'Advanced Protection' feature, then yes the VPS would allow you to keep this running 24/5 whilst being able to close down your own PC. Otherwise, you would need to wither keep your platform on, or manually partially close your positions.

Lianna
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