Trade Management

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Hi there,

I would like to know if there is a better way to manage and close open orders than what I have in mind...


here is my idea :


1: Open two currency pairs manually (Hedged)

2. Close both pairs when realized the desired profit . This will be p/l of pair1 + P/L of Pair 2 = desired profit. Most probably one pair will be in minus and one will be in positive.
5. I also want the option to manage multiple sets of hedged trades. eg.if i open 4 sets of hedged trades= 8 open trades


Is the best way to do this to have the EA identify the currency pairs and close the trades when the profit level is reached? or is there a better way?

Using a magic number is not possible because the orders are opened manually.


Any suggestions would be greatly appreciated.

 
23510:

Hi there,

I would like to know if there is a better way to manage and close open orders than what I have in mind...


here is my idea :


1: Open two currency pairs manually (Hedged)

2. Close both pairs when realized the desired profit . This will be p/l of pair1 + P/L of Pair 2 = desired profit. Most probably one pair will be in minus and one will be in positive.
5. I also want the option to manage multiple sets of hedged trades. eg.if i open 4 sets of hedged trades= 8 open trades


Is the best way to do this to have the EA identify the currency pairs and close the trades when the profit level is reached? or is there a better way?

Using a magic number is not possible because the orders are opened manually.


Any suggestions would be greatly appreciated.

Any one got an idea on this subject?

 
23510:

Any one got an idea on this subject?


It wouldn't be difficult to do, but with regards to #2, there is roughly a 76% probability that both trades will be minus.

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