Adjusting S/L and T/P for more profit opportunity

[hugo08642]

Hi everyone,

I am a little stumped with this one.

Say I wanted to have a logic that runs on all trades, regardless of the trades group number, that moves the S/L to the break-even point once reached, but then also moved the S/L to the T/P point once reached and then moved the T/P to a new level further along.

Eg;

1. Bought at 1.00000, S/L 50 points, T/P 10 points. Spread 1 pip
2. Moves to 1.00500 (5 pips up?)
3. S/L adjusted to breakeven at 1.00400
4. Moves to 1.01000 (Reaches T/P point).
5. S/L is moved to 1.01000 and T/P moved a further 10 points.

Not sure if the numbers can be that close, or if the adjustments have to be made a bit further out?

What sort of logic and blocks would I use for this?

[hugo08642]

@hugo08642

Would this get me there:

[hugo08642]

Is anyone able to provide direction on this one?

Any help would be greatly appreciated.

[hugo08642]

@hugo08642

Or is it something like this

[hugo08642]

I am stumped. The only outcome I manage to achieve is constantly moving the S/L & T/P above and below so the trade never closes out.

Any help greatly appreciated

[josecortesllobat]

Hi @hugo08642

If your broker has 5 digits prices

50 points = 5 pips
10 points = 1 pip

So 50 points of SL is 0.99950 and 10 points of TP is 1.00010 in a five digits pair.

Don't you think they are a very tight stop levels?

As per your logic

Eg;
Bought at 1.00000, S/L 50 points, T/P 10 points. Spread 1 pip
Moves to 1.00500 (5 pips up?)
S/L adjusted to breakeven at 1.00400
Moves to 1.01000 (Reaches T/P point). --> If the Price reaches your TP level, the trade will be closed and there will not be a chance to extend the TP level
S/L is moved to 1.01000 and T/P moved a further 10 points.

Might be what you want is something like

• Open Trade -> SL at SL_level0 + TP at TP_level0

If Price is at Price1_level --> move SL to BE
If Price is at Price2_level --> move TP to TP_level1 and SL to TP_level0
If Price is at Price3_level --> move TP to TP_level2 and SL to TP_level1

.... and so on

[hugo08642]

@josecortesllobat

Hi,

Thaks for your help. Yes they are way too close. That was incorrect on my path. I meant 50 pips and 10 pips. So the next decimal place, which I think is alright for what I want.