Using the trailing stop block
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hello
The 'trailing stop' block is a bit confusing for me. I want to open my trades without stop loss or take profit set, and I want to trail the price by say 50pips [when profit is +50;stop is at open price, when its +100;stop @+50 etc]
Can you explain the block functions
[Trail what] means what?
[Trailing stop] means what?
[Trailing step] means what?or simply give an example.
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From your explanation, I set my stop-loss, break-even and trailing-stop as follows, it seemed to perform weirdly yesterday, please have a look and tell me if it follows my description below.
https://fxdreema.com/shared/r9GJJ3KId
Original SL set at 100pips below open price
Break-even is triggered when current price is +90pips from open price
Trailing stop is triggered when current price is +200pips from open price and it trails the current price by +100pips
P.S - ignore the block numbers.
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What is this - buy and sell on every tick
And then doing some custom things. There is a block for break even, and yes, it allows you to set SL at some pips from the open price, why don't you try it.I still don't like these green and red blocks at the top in "on Tick"
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I did not use the ** block because I want the breakeven price to cover the spread difference- not sure if it does that so I did it manually. plus I intend to modify it to increase the profit of a breakeven trade later.
Buy/Sell on every tick?!
Obviously not, I did not include the rest of the code, because all I am interested in, is the trailing part (i.e after a buy or sell: how does the trailing option I used compare with the comments I made?, will it perform exactly as I described in the post?) -
The idea of Break Even is to close the trade on profit or with 0 profit, but it's tricky to achieve that 0 profit. The way I realized it in the Break Even block is the easiest possible - to put SL at the open price, but in this case... you know, slippage, commissions, something else can make the trade with small negative profit. The other way is to track the profit of the trade, and when it becomes 0 - to close it. But It's a little bit harder to make it and I guess there will be the same problems, because the EA will close the trade and... slippage, changed price, things like this.
I normally don't think about the spread while making some project in fxDreema. When the trade is Sell, this is considered. I mean... it decides when to use Ask, when to use Bid.
Anyway, you have blocks that should run on every tick after blocks that should run rarely. In short, your custom break even does not have the chance to work. And I still think that it's much better to use the Break Even block, with that "BEP offset mode" option if needed.
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Hello
I think you are misunderstanding me. All I require is for you to check the [Trailing block]. Ignore everything else, only reason I showed the breakeven modification part was so you could tell me if it affects the [Trailing block] parameters. My custom Breakeven works as I want so far.
https://fxdreema.com/shared/XHg4xhu4c
Does the above work like described in the chart area description?
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I don't see anything about Break Even and spread in the Trailing Stop block
It's always better to ask me the correct question.If the trade is Buy: Trailing Stop puts SL at "Stop" pips below the current price (Ask), on every "Step" pips move of the price, and only if the price is at least "Start" pips above the trade's open price (there is some profit).
It's the same for Sells, but the opposite, and Bid is used.The above link will put SL 100 pips below Ask when Ask is 200 pips from the open price, then it will do that again when the price goes 100 more pips above... then after 100 more pips. Try it.
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Thanks fxdreema
I would make my questions as clear as possible hence forth
