• Blaiserboy
  • Blaiserboy
  • Junior Part-Time Aspiring Space Cadet
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  • Registered: 2010-09-06
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Topic: Risk/Reward Take Profit/Stop Loss

This may be in the wrong place, please move it if required.

I would like to be able to set a ratio between stop loss and take profit so that they could be say 3:1 or 10:1, at the choice of the trader.....

I would like to be able to set the range of the stop loss and take profit so that we are not getting take profit of a large number.....

I would like to see a combination of break even and stop loss and take profit in closing point of position as the present configuration does not give us control when the 'chain' is used......

I wonder if those could be incorporated as one indicator


Thanks

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  • Popov
  • Popov
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  • Registered: 2006-11-30
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Re: Risk/Reward Take Profit/Stop Loss

stop loss and take profit in closing point of position

It's available. Indicator is called Stop Limit.

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  • Blaiserboy
  • Blaiserboy
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  • From: Toronto
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Re: Risk/Reward Take Profit/Stop Loss

Popov wrote:

stop loss and take profit in closing point of position

It's available. Indicator is called Stop Limit.

I am using that indicator at this time with the 'chain'  and at this minute  it is showing stop loss at 381 and take profit at 458, I would be very uncomfortable using those numbers on a 15 minute chart.

I would like to be able to restrict those to say 100 or 200 instead of letting them run up to high values.

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  • Popov
  • Popov
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Re: Risk/Reward Take Profit/Stop Loss

I understood now. You are speaking about Generator and linked slots smile.
Setting StopLoss / TakeProfit ratio is a good idea. It may be a Generator option instead of an indicator. If we manage to incorporate such an option, Generator may keep that ratio between Permanent SL / TP, SL, TP and Stop Limit indicators.

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  • Blaiserboy
  • Blaiserboy
  • Junior Part-Time Aspiring Space Cadet
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  • From: Toronto
  • Registered: 2010-09-06
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Re: Risk/Reward Take Profit/Stop Loss

My thinking is that generator can locate optimum solutions, but we have to set a couple parameters so that it does not seek solutions that are not realistic. and that is why I am asking for some limits to be imposed.... I guess you are correct, better to adjust generator instead of indicators.

Thanks for replies

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