little problem with stop loss
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My problem:
Hello I am new to your platform and I would like to test it.
I want to implement a simple EA based on the crossing of two simple moving averages, 5 and 20. When the period moving average crosses the 5 period over 20, I order a purchase, otherwise, I order a sale. Also, purchase, I want a take profit of 5 pips and a stop loss 3 pips.What I tried:
http://prntscr.com/9zw81c
http://prntscr.com/9zw8z8What I expect:
When i try the strategy, i see in profit 0.5 when the trade is good and -0.66 when the trade is bad.Excuse me, what i want, i want 0.5 if the trade is good and -0.3 if the trade is bad.
My platform:
MT4 from Xm -
In this way the EA will opening new trades over and over again. Put some "No trade" above. This can be seen on the very first example here: https://fxdreema.com/examples/
By putting "No trade" above you will also limit the number of trades to 1, so you will have 1 trade at a time. If you want to separate buys from sells, then two "No trade" (one for buys and one for sells) and two "Condition" will be placed.
I think in this case "Once per bar" will also work. One before "Buy now" and one before "Sell now".
As you can see sometimes there are multiple ways to do the same ot similar things.
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Ok, Thanks, it seems better.
But i need to know how to set my stop loss and take profit. I'm working on EUR/USD with 0.01 lot. I would like to win 10 pips and loss 4 (0.110 if wining and 0.14 if lossing ). Can you help me? Must i set -4 for stop loss? What i try is not working. -
No one ever asked me how to put stops on a trade and I'm not sure that what I am reading is what it is really. But maybe you have different way of thinking.
It's as simple as it can be. "Buy now" or "Sell now" are blocks who able to create 1 new trade when you run them. The parameters of that trade are specified in their parameters window. Parameters such as volume (lot size) market (symbol), stop-loss and take-profit. All values should be positive. There is no point for stop-loss to be negative value. If you write 10 for stop-loss, this means that the size of stop-loss is 10 pips, it means that the horizontal line of stop-loss is put at 10 pips distance from the horizontal line of the opening price. It also means that if the market price reaches that line the trade will be closed on loss and the result will be negative, but sometimes people move that line and sometimes the trade can be closed as profitable by that stop-loss line.
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Great, my broker has fixed minumum stop loss at 4 pips. I don't know where must i close the topic.
