EA to open 2 trades, close 1st trade on TP, move 2nd trade to break event

I have been trading forex for some time but the challenge I have at the moment is money/trade management. I need to improve my exits so that I keep some pips when the trades are in profit. I have searched the forum and believe the following money/trade management strategy is useful - open 2 trades, close 1st trade on TP, move 2nd trade to break event.

I have looked at the forum and there are couple of EAs that can achieve similar results but I want to implement it with a slight variation. I was wondering if someone can code an EA based on the following money/trade management requirements:
1. EA should open two trades with the following inputs from the user:
* Lot size (should be able to handle micro, mini or standard lots)
* Direction (Buy or Sell)
* TakeProfit1 & TakeProfit2 (TakeProfit1 applies to the first trade and TakeProfit2 applies to the second trade)
* Stop Loss is the same for both orders
* Lock In Profit for 2nd Order (this is my variation and an optional input. It is used if the user wants to preserve some profit for 2nd order rather than allowing the 2nd trade to go to break even. more details below)
2. Using the inputs above, the EA should open trades at the start of next candle (could be Daily, H4 or H1 or any other timeframe).
3. If TakeProfit1 level is hit, the EA should move the second trade to Break Even with "Lock In Profit for 2nd Order" adjustment. For example, if "Lock In Profit for 2nd Order" set to 0, it would mean the stop loss for 2nd trade will be set at break even. If set to say 25 pips, it would set the stop loss for 2nd order at break even plus 25 pips for long trades and break even minus 25 pips for short trades. This way the user has a guaranteed 25 pips for their 2nd trade

I am sure such an EA can be used by many traders

Thanks in anticipation and Happy Trading to all.

open 2 trades, close 1st trade on TP, move 2nd trade to break even zero is good strategy

btw nobody created this EA this thread was posted in 2009

bump

It all comes down to FEAR and GREED ( in simplest terms )

FEAR:: afraid to let the trade ride
GREED:: wanting more than the trade can offer.

Are you saying on this thread that you want someone to create an EA that will track two trades and perform this execution style? Due to FIFO you cannot achieve this on US brokers. The TP will apply to both orders.

BUT it can still be done - unless you just want to sit there and wait, you'll need an EA.

But what's more important on Equity management is entry and direction.

As long as you stick to a heavily favored ratio 1.5:1 or better 3:1 (where your target is the left side) you can get away with using stops and making bad trades. In fact, you can lose 70% of the time if you always use 3:1 ratio and still come out ahead.

Using stops can often be more harmful than beneficial, if the trade REQUIRES a stop you shouldn't trade it.

Another thing you can do instead of stops is use heavy lot sizes. you're margin call will be your stop. If you trade with 90% of your balance in the market you can't lose much. Stops are good for low exposure and wide - long term targets and end up being your enemy not your friend. If you're wanting to get in an out quickly Stops are useless except for locking in profit.