Changes to EA
Yes! It is called a "virtual" or "stealth" stop, where the stop is internally tracked by the Expert Advisor (EA). There are advantages and disadvantages to doing this.
However, if you are sending the stops only once on the same OrderSend request (and not separately), then there will be no reduction in communications. In fact, there will be more, as you will then be sending an extra messages to close the position.
If however, you are referring to sending updates to a trailing stop (especially if it is a continuos trailing-stop), then yes, you do save quite a bit on update messages, as you will only send the final one to close the position. In your case, you seem to be referring to a shifting take-profit of some kind, but the concept is the same.
There is however, the disadvantage of slippage due to the latency, during the final close request. You should however, still update the trailing-stop (or take-profit), at a much lower frequency and a greater distance to serve as a hard or catastrophic stop, in case the connection is lost or if the EA, terminal or PC hang or crash.
Yes! It is called a "virtual" or "stealth" stop, where the stop is internally tracked by the Expert Advisor (EA). There are advantages and disadvantages for doing this.
what are the advantages and disadvantages ,is there a way to set hard stop where if price comes back down or above that level the trade is closed
Advantages:
- Brokers are not aware of the real stops, which reduces chances of stop-hunting by dealing-desks.
- Less communications during updates of trailing-stop or shifting take-profit.
Disadvantages:
- Can have higher slippage due to latency of closing the position.
- Loss of position management leading to greater risk of high losses if connection is lost, or EA/terminal/PC crash.
To mitigate this, you can keep real broker-side stops at a further range/distance and update then less frequently, so as to serve as hard or catastrophic stops.
Yes! It is called a "virtual" or "stealth" stop, where the stop is internally tracked by the Expert Advisor (EA). There are advantages and disadvantages to doing this.
I tried some aftermarket tools to try to manage this system, but none of the ones I tried offer the virtual TP averaged for the summary of positions, not to mention the stealth mode - these tools either a have a trailing stop or some hard stops based on equity or pip size.
Now I have the source code for the EA obviously, but I'm not a programmer by any means, - another question; is the marketplace on this forum any good and worth the risk of sharing the source for it to be modified by someone with ability to enable this functionality? Not quite sure how it exactly works, but I noticed it could be paid for to have this done around here?
P.S.
Are the any brokers with this limit set higher than 2k? and why do they set it so low?!... It seems rubbish that this limit also entails order modification requests...
I tried some aftermarket tools to try to manage this system, but none of the ones I tried offer the virtual TP averaged for the summary of positions, not to mention the stealth mode - these tools either a have a trailing stop or some hard stops based on equity or pip size.
Now I have the source code for the EA obviously, but I'm not a programmer by any means, - another question; is the marketplace on this forum any good and worth the risk of sharing the source for it to be modified by someone with ability to enable this functionality? Not quite sure how it exactly works, but I noticed it could be paid for to have this done around here?
You can use the Freelance section to hire someone to code it for you. And just in case you ask, no I am no longer coding for anyone but myself.
Because it is called trading and not gambling. It is there to prevent traders from abusing the system, especially with trading techniques that only lead to ruin, such as the one you are attempting.
Grid trading, same symbol hedging, martingale and all the flavours out there, only lead to one result — you blow your account.
Because it is called trading and not gambling. It is there to prevent traders from abusing the system, especially with trading techniques that only lead to ruin, such as the one you are attempting.
Grid trading, same symbol hedging, martingale and all the flavours out there, only lead to one result — you blow your account.
I've not seen anything better than above described for general consumer, unless you are referring to some non-standard solutions to which I've not had the exposure to and met no-one who could present such solutions to date.
Also, in UK Forex and CFD's for average Joe are regulated under gambling so I don't see the argument you're making here. You may enter a trade based on some criteria and never have a 100% guarantee that it will work in your favour, hence the importance of $ MM and risk Mngt.
Stop moving the TP all over the place. You set it and you are done. Move the SL in multiple of tick size. Problem solved.
Post your code or state in concrete terms what you are trying to do. PICNIC.
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Hi All,
Can any of you fine colleagues advise whether it is possible to execute take profit on the machine/platform, rather than sending it to the Broker as a request with the order?
I'm getting hypertrading alerts from my broker and hoping that by removing the TP request from the order I will achieve less messages sent to the broker? This is currently sitting a lot higher than permitted 2k messages, and most of those are unfortunately requests to modify TP...
Thanks
D