Position Management
Please consider which section is most appropriate — https://www.mql5.com/en/forum/172166/page6#comment_49114893
nrhp: If an EA has this set up:
Break even in Pips 5
Trailing Stop 25%
Trailing Step in Pips 5
Would I be right that if EA goes in profit, then EA will not sell if EA is between 0-4 pips? Once over 5 pips, the EA will set a new Trailing Stop at 10 Pips and then new Trailing Stop every 5 Pips thereafter?
No, you cannot assume anything. You HAVE to know how the EA functions and how it uses those parameters.
If you are the coder of the EA, then it will behave as you have programmed it to do so.
If you are not the coder, then ask the author for support, or read the documentation for the EA.
As this is essential in trading there already lot of solutions - you only have to search: https://www.mql5.com/en/search#!keyword=Money%20management&module=mql5_module_codebase.
Sorry, you may think this is helpful but it is not. I have already done lots of reading of comments posted to EA's of the author and no explanation of how this stop loss works. I have also prior to posting the question did searches on Trailing Stops and Position Management which only provided links of posts that somewhere in the posts mentioned what I was searching for but no explanations. This site needs a glossary somewhere of what each setting can do or doesn't do.
No, you cannot assume anything. You HAVE to know how the EA functions and how it uses those parameters.
If you are the coder of the EA, then it will behave as you have programmed it to do so.
If you are not the coder, then ask the author for support, or read the documentation for the EA.
I am not the coder. It is a Free EA, so there is a lack of support. Documentation does not explain the logic of the Stop Loss.
The parameter names and their functionality are defined and decided by the author or coder of the EA.
Only the author of the EA can tell you how it functions, so it would be impossible to create a glossary.
If you have the source code, then you can ask or hire someone to analyse it for you, or you can learn to code yourself and interpret it and find out.
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If an EA has this set up:
Break even in Pips 5
Trailing Stop 25%
Trailing Step in Pips 5
Would I be right that if EA goes in profit, then EA will not sell if EA is between 0-4 pips? Once over 5 pips, the EA will set a new Trailing Stop at 10 Pips and then new Trailing Stop every 5 Pips thereafter?