How to create sl under bollingerband

[wessel]

Hi guys,

Im very new to building bots and stuff. First of all i realy like it!! Now i build my first bot and he give me the correct signals, the only thing now is that i would like to have my sl placed like 300pips Above the lower bb for a short trade, and a sl also 300 pips under the upper bb. And with fxdreema you can put in risk%of balance but this is not wat i mean.

My system works by looking at the bb, setting stop loss a bit under or above it, depends on sell or buy. And then i can see how big my position is. Everything works this is the last thing.

I hooe someone can help mee!

[roar]

This sets the fixed level at the moment the trade is opened.
If you want the sl to move with bb, use "once per bar" -> "modify stops of trades" instead.

[wessel]

@roar thanks allott!!

[wessel]

And one more thing, per trade i want to risk 2% of my balance. First i look to my sl and then i see how big my position is going to be, when i use risk %of balance in fx dreema my stoplosses are changing to much. Fore example i want to risk 2% per trade and i have a balance of 1000

First sl=20euros
Second= 1000-20:100x2= 19,6
Third=980-19,6:100x2=19,2

As you can see the stoplosses dont cange that much, when i use risk 2% of balance sometime one stoploss is €5 en then it is €50

[roar]

What do you mean, 3 trades? I havent used the % risk in a long time, should look into it...

[wessel]

@roar its an example of how i want my stoplosses to be.no problem

[fxDreema]

I tried this money management method and I think it works ok for me. But there is something called Lot Step, where you can't send trades with lot size for example 0.015, so every time the lot size is rounded to the nearest possible value and the loss will not be exactly 2%

[wessel]

@fxdreema thanks for the quick response, but when i do the backtest on mq4 i have lot sizes that wont change. For instance i backtest my system with 1000usd the lot size is 0.10 when i use 50000usd for my backtest, the lotsizes are also 0.10 what am i doing wrong.

[fxDreema]

I see something strange in your project:

What is this 500 number there? Now if the value of BB is 1.2345, that value of 500 is added to it, so SL is like 500.2345. This is possible value for sells, not for buys.

If you want to add or remove 500 pips, do this:

+ 500 pips

or...

- 500 pips