Topic: A bot for managing trades

Is it possible to program a strategy that you only turn on once you've entered a trade and the purpose of the strategy would be to exit the trade gradually depending upon indicator readings also to add to the position depending upon indicator readings.

2 (edited by pwninobrian 2020-02-03 03:39:28)

Re: A bot for managing trades

My question is I guess is what would I have to consider if I wanted to do something like this? If I were to turn a strategy on when a position was already opened would the strategy know to apply the closing rules to what I had open? Would the strategy close the entire opened position or would I have to adjust the size everytime I used it?

Is there anything else I'd need to consider? My plan is to close half the position at 0.382 Fib and then close the other half when the W%R gives a signal on the timeframe 1 higher than the one I used to enter the trade.

So basically I think that it won't recognize a position is open unless I open the position while the bot is running, is there any way around this?

Re: A bot for managing trades

You can do it by connecting FSB Pro to MT4 in "Trader" mode.
In that case, you can trade manually and automatically with the same magic number.
You can make a strategy that has only Exit rules. You will be able to open a position manually and the strategy will coles the same position, but it will not be able to open new ones.

Please read the documentation from this article and below: auto tarder

See also this video;