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Forex Software → Technical Indicators → Break even and Trailing stop
Does anyone know......Is it at all possible to use the break even feature in FST to create a trailing stop instead of a permanent stop? I've been reading but not able to find any info of the sort, so I'm assuming not. Not a necessity but could turn breakeven trades into at least some profit depending on circumstances. Thanks for any help on this. Good trading to all!
Can you not set the break even to give you a profit.?
Thanks Blaiserboy, that makes perfect sense. I didn't think that through far enough. Duh!
This software is complex, there are many tools, it takes a while to learn how to use each tool effectively, but the results can be most satisfactory.
I spend a lot of time just trying things to see what I can learn....
the summer of 2011, when the breakeven feature was introduced to FSB and modified for FST, I thought you could use it make small profits. Mr Popov suggested he might write an article explaining its use in more detail. But in actual operation, it appears that, when the BE condition is satisfied for an entry, it always resets the S/L to the actual entry price [[or for multiple entries] to the [weighted?] average entry price]. Suppose the optimized BE for a FSB strategy is 200. It would be a nice feature if the S/L could be set to the 100 pips above or below the entry price. If it is now possible to do that in FST will someone please explain how??
Yes jgp I am a little unsure of how that would work also. What I took from Blaiserboy's comment was that you could manually adjust the B/E point during a live trade. For example, if your trade was winning by say, 200 pips, you could manually adjust the B/E point in FST to stop you out at say, 100 pips. Although this makes the B/E essentially a permanent stop/loss(with a profit). But what this requires is active intervention. While I am working or away from my computer I cannot do this, which is why I asked if the B/E point could be auto changed(at the break even point) from a permanent stop loss, which takes no profit, to a trailing stop which would capture some profit if the trade continues to move in your favor. Some might say just use a trail stop from the start of the trade but that may not leave enough room for the trade to develop and run. It's disheartening to to discover you had a nice trade going only to have all profit wiped out as the trade reversed. All this being said, its possible that I misunderstood what Blaiserboy meant in his post. And that there may be a way to set the B/E point(from the start of the trade without intervention) to capture a profit. All comments welcome!
thank you so much for your analysis/comment. Was beginning to think most everyone's interest in FSB/FST was 'academic'. I had thought of modifying manually [by a hundred pips] the S/L once the BE feature had set it to the actual entry price. I don't know how to program C# or whatever it is they use, but it seems to me that programming the BE feature to automatically change the S/L to the entry price +/- Half the BE setting to the entry price would be trivial. Making it an option might be quite a bit of trouble. the way the BE function works now, especially on MT4 platforms where raiders can see the all the "stops" and deliberately trigger them when it suits their purpose, at least with the modification I'm suggesting we retail traders would be left with a modest profit.
Try to participate in the conference call on Sunday, I am sure that Mr Popov will be able to fully answer your question at that time
thanks for your suggestion Blaiserboy, but you're talking Greek to me. Have no idea how to participate in the Skype conference or even for that matter how to post FST 'Journals' to the forum. [FST strategies and MT4 Account histories I can handle] I hope you will also at least mention multiple-per-bar unwanted entry problems in defiance of the 'enter only once per bar' condition with Alpari(US) and FXCM Mt4 demos [I also have live accounts] which I have recounted in the Forum.
thanks for your suggestion Blaiserboy, but you're talking Greek to me. Have no idea how to participate in the Skype conference or even for that matter how to post FST 'Journals' to the forum. [FST strategies and MT4 Account histories I can handle] I hope you will also at least mention multiple-per-bar unwanted entry problems in defiance of the 'enter only once per bar' condition with Alpari(US) and FXCM Mt4 demos [I also have live accounts] which I have recounted in the Forum.
I am sure I saw a post re multiple entries, I am pretty sure there is a revison of the software about to appear......
Popov stays current with the new posts...... so he will be aware of your concerns.
Have a great weekend...!
thanks Blaiserboy. Believe I saw somewhere there would be a summary of the Conference eventually posted to the Forum. Hope you all have a good fruitful conference. Keep up the great work.
during the Mar18 conference Mr Popov said something about moving the 'only one entry per bar' ccommand to the EA. Actually, what would be really nice [especially on 1h, 4hr,1 day bar settings] would be for the 'Winner' stategy, whether attached to the EA or the FST, to have a default [say 20 pip] or better still, an adjustable [10-100 pip] setting for what constituted a 'winner'. That is if "Winner" were imposed and the 'only one entry per bar' condition NOT imposed, no additions to the previous would happen unless the additional entry was at least 20 pips above [or below] the previous entry. Having multiple entries per bar during a breakout would be a 'good thing'
I would like an option for multiple entries per bar
If Mr. Popov modifies the "Winner" condition so that to qualify for adding to an exiting 'entry' there has to be, say, a 20 pip change [or better still a 10-100 pip adjustable change], then it shouldn't matter whether the additions occur in the same or in different bars.
Forex Software → Technical Indicators → Break even and Trailing stop
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