ERRORS IN PIPS INCREASE IN RELATION TO STOP LOSS
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very great site, however i noticed that increase or decrease in pips does not increase or decrease my stop loss or take profit value except when i increase the lot size, kindly look into this
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@molibedium What do you exactly mean? Can you please share the project with that issue?
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@l-andorrà i placed a simple buy trade with the following parameters:
lot size: 0.5
pips sl: 12.81
pips tp: 12.81
i loaded it on a four decimal place chart and it gave me tp: 6.85$ and sl: -8.15i further loaded it with a changed lot size value as follows
lot size: 1.0
pips sl: 12.81
pips tp: 12.81
i loaded it on a four decimal place chart and it gave me tp: 13.70$ and sl: -16.30but to my greatest surprise i loaded it yet again changing my pip size with the following details but it gave me same value as obtained in the lesser pip value
lot size: 0.5
pips sl: 131
pips tp: 131
it still gave me tp: 6.85$ and sl: -8.15 inspite of me increasing my pips size, the tp and sl in dollars remained the same valuelot size: 1.0
pips sl: 131
pips tp: 131it still gave me tp: 13.70$ and sl: -16.30 inspite of me increasing my pips size, the tp and sl in dollars remained the same value
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@molibedium That's very weird. Can you please share the link of your project to take a look at it?
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@l-andorrà i am just test running different portions of my proposed project, i have not made the project as a whole project, please kindly share me any perfect exacmple i can use to work around with, based on the following point of interest.
- how to use trailing stop to trail profit
- how to use trailing stop to trail loss
- how to set sl and tp to read values in money(currency of account) rather than to read in pips.
- how to set multiple orders to open at the same time.
- how to close orders automatically when a particular profit is reached across multiple orders
- how to set stop loss to closely trail the current price. i.e i mean i want my stop loss to be able to cross my point of entry and trail the price steadily when it moves in my favour and it not going back and forth, e.g if i entered trade at a price of 1500, and my initial sl was 20 pips away from current price i.e (1480), i want my sl to move to a price of (1550) when d price hit 1600, hence if any drawback occurs it would close my trade at 1550.
6, Also pls can you explain the meaning of an instrument having stop levels of 1500 and spread of 130, i am considering deriv vol 100(1s) indices.
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@molibedium There are no 'perfect examples' for all those features. There are effective ways to do them, though. I can share some examples dealing with all those points. However, there is no guarantee they will be exactly what you need necessarily. Maybe a more detailed description of your strategy would help.
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@l-andorrà thank you for your reply, i would be immensely grateful if you can share examples of my areas of interest i belive it would go a really long way to help me understand
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@molibedium Sure! let's do it step by step. This is one of the easiets ways to deal with trailing stops:
Do you need to trail both SL and TP?
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@l-andorrà yes please.
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@molibedium Ok. In that case you will need two blocks like this one. In one of them you will select 'Stop-loss' option and the other one select 'Take profit'. Considering that I have no idea what previous conditions wil be required in your EA to open trades, I suggest you to connect both blocks below a 'Pass' block. Obviously, you will need to specify the setting for both of them (trailing stop and trailing step), as you can see immediately below in my previous image. Ok?
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@l-andorrà thank you so much for the explanation though i would understand better with a pictorial example of any project, you can avail me with, please kindly drop me your email and whatsapp contact lets get to interact more seamlessly rather than having to wait for hours to know when you would be online, i am interested in us working together to achieve something very very beautiful
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Sure, you can contact me via PM when you want.
