Questions from Beginners MQL5 MT5 MetaTrader 5 - page 886
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
It's called take profit. I see. It's strange that there is no such necessary tool. Perhaps there are robots out there that already have this tool?
You say that it automatically moves the take profit, but what is the movement algorithm?
You say that it automatically moves the take profit, but what is the movement algorithm?
The name is the same as take profit, but the meaning is different. Namely, we set a take profit order, the price moves in our direction, overcomes the order price and the order moves further. As soon as the price moves back the order triggers - as a result the entry is more successful as the order follows the market to a more profitable position. Basically, the idea is the same as with a trailing stop in MT, only it is a trailing order.
The name is also called take profit, but the meaning is different. Namely, we set a take profit order, the price goes in our direction, overcomes the order price and the order moves further. As soon as the price goes back, the order is triggered - as a result, we have a more successful entry since the order follows the market to a more profitable position. Generally speaking, the idea is the same as with trailing stop in MT, only it is a trailing order.
Isn't there anything similar ready in MT?
The name is also called take profit, but the meaning is different. Namely, we set a take profit order, the price goes in our direction, overcomes the order price and the order moves further. As soon as the price goes back, the order is triggered - as a result, we have a more successful entry since the order follows the market to a more profitable position. Basically, the idea is the same as with trailing stop in MT, only it is a trailing order.
How do you know if the price is going in our direction or not?
How is it determined that the price is going our way/not our way?
Well, if the bid is at one price and the price goes even lower. And vice versa.
Well, if the bid is standing to buy at one price and the price falls even lower. And vice versa.
It is not clear. You'd better post a quote from the HELP describing this function, maybe it will be clearer.
Well, if the bid is standing to buy at one price and the price falls even lower. And vice versa.
A BuyStopLimit order is what you need. Have I understood the confusing explanations correctly?
No. Let me explain it with an example.
I have placed a 100 pips slippage order (called "Take Profit" in QuickBooks) to buy, and set a 5 pips slippage.
Price has fallen to 100p, but there is no buying because the price is falling.
Price has fallen to 90p - everything is fine, why buy, let it fall further.
The price starts to rise and as soon as it reaches the value=the price minimum+the slippage, i.e. 90+5p, thebuy order is triggered. In other words, the order would be triggered at 100 points, while the sliding order would be triggered at 95 points.
I.e., it is better to place a sliding order if the price has moved much. As I understand it, TM only has a trailing stop.
No. Let me explain it using an example.
I have placed a 100 pips slippage order (called a "Take Profit" in QuickBooks) to buy and set a 5 pips slippage.
Price has fallen to 100p, but there is no buying because the price is falling.
Price has fallen to 90 p. - everything is fine, why buy, let it fall further.
The price starts to rise and as soon as it reaches the value=the price minimum+the slippage, i.e. 90+5p, a real Buy order is triggered. I.e. the real order would be triggered at 100p, while the sliding order would be triggered at 95p.
I.e., in case of big price movement, it is better to place a sliding order. In TM, as I understand it, there is only a trailing stop.
Do you want to move the stop pending order behind the price by 5 pips?
I am writing that in Quicksilver, by "take profit" we mean a completely different operation, something like a trailing stop, only a trailing order. And yes, in the sense it is "take profit".