Simple consecutive trades
-
How do I activate a buy order with a trailing stop immediately after a previous trade has closed (by reaching its own trailing stop)?
-
I think the answer for you is to set "Trailing start is..." parameter to Off
-
Not sure I understand. I want the "Buy now" (Block 4) to be executed with its own trailing stop after the previous "Buy now" (Block 2) has closed (by execution of its own trailing stop). What do I need to add to this diagram to make it work? Thanks!
......
Capture.JPG -
Trailing stop (each trade) works when there is a trade, it does not care when it was created. If a trade exists, it will be checked/modified in the block.
BUT! There are settings inside the block, so the above is not always true. Look at this parameter:
http://img.prntscr.com/img?url=http://i.imgur.com/xTGnH5Z.png
Now it says that the trailing stop will modify SL when the price goes above the open price. In other words - in the first tick in the right direction. But if it starts moving in the wrong direction, it will not modify the SL.
Set the parameter to Off to modify the SL right after the new trade was created.
-
Thank you, that helps, but I'm still not clear on exactly which boxes to use to cause one trade to be executed immediately after one trade closes. In particular, I need need a sell trade placed immediately upon the close of a long position (as a result of the long position having reached its stop loss). Thanks again for your assistance.
-
Right now you should have continuous buys? Now what you have is - on every tick check if there are trades or not, and if there are none, buy. So when the trade is closed, "No trade is running" will detect that there are no trades and it will pass to "Buy now", so you immediately end up with a new trade, right after the old one.
But if you experiment too much with Group and Market settings, this behavior may change. Try this with brand new blocks, with default settings. Like this here: https://fxdreema.com/demo/mt4-buy-now-i ... ade-exists
-
I recognize what I have in the diagram is incorrect, but let's ignore that for now. I'm interested to know which blocks to use for the simplest of algorithms:
- If no trade is currently running, BUY with a trailing stop loss.
- When the stop loss is triggered, automatically SELL with a permanent (non-trailing) stop loss.
As simple as this is, I can't seem to assemble right blocks. Thank you.
-
I don't think that these are all the rules, but here is an EA that does exactly this: https://fxdreema.com/shared/m7cE4zWce
And the result is here: http://prntscr.com/5t00fo Initial Buy trade, trailing stop, then closed on loss, then a new Sell without trailing stop. -
Perfect. Thank you.
