1 (edited by alessandromagno 2016-03-09 10:53:20)

Topic: exit based on first trade or basket

Hello guys i need your help.

1) I'm building a strategy where i have the first trade with TP=100 pips and no SL (just a reverse condition). Then, if the conditions are met again, the EA add some new positions (i.e 10 more), of course the entry price can be different from the first trade.

What i need for the addons entries is the same TP as the first trade, let's say 1.10500, regardless of pips amount. So, for example, the second trade can close at 1.10500 with a TP=90pips; the 3° with TP=120pips, etc....just because the entry price differs from the first trade, but the closing price for all must be the TP price of the first (principal) trade. The same thing is for the stop: if reverse conditions are met for the first trade, then the addons trades close at the same time. THE FIRST TRADE RULES THE EXIT (profit or loss).

How can do this?

2) In addition, is there any basket closing method from which the EA closes ALL position (only of this EA, leaving opened the trades done from other EA running in the same account!!) when the profit sum of al trades is (for example) 100$ or 100pips?

Thank you for your help!!!

Re: exit based on first trade or basket

Hello Alessandro,

FSB sets the SL / TP according to the last entry on purpose. Our point is that a strategy analyses the market condition and sets entry and exit rules based solely on the current conditions. We the strategy will change its behaviour if there is already an open position? The market doesn't care of it, so we must also.
Another reason is that if we leave the SL on the first open, the eventual loss will be much higher (having Winner adding in mind).

2) In addition, is there any basket closing method from which the EA closes ALL position (only of this EA, leaving opened the trades done from other EA running in the same account!!)

Yes, of course. This is the way our Expert Advisors work. One expert manages only its own trades. (You need an unique magic number for each expert.)

Re: exit based on first trade or basket

Thank you Popov for your answer.

For the point 1 i mean the adding entries are for losing basis (not winning) just becasue i try to have a smaller SL when exits and higher TP than the first trade. For this i ask if is possible to have an exit (sl or tp) based on the first trade rather than the last one...

For point 2 my question continue with ..."when the profit sum of all trades is (for example) 100$ or 100pips?". I know FSB closes only the trades of that EA, but i don't know if it can close the trades based on cumulative profit..

Thanks

Re: exit based on first trade or basket

but i don't know if it can close the trades based on cumulative profit

FSB uses one position per expert as in MT5. It always work with cumulative profit. We are forced to use multiple entries in MT4 because it has no feature of adding lots. It is a major drawback because when we add, we have to manage multiple open orders (MT doesn't know the term "position").