FXCodeBase.COM: Forex Chart Indicators and Development

Is there existing or would it be possible to have something to do the following. Set up two trades, one with Stop Loss and Limit, second the same without the Limit. When the Limit is hit, the second trade Stop Loss is moved to the original Start Price and made into a Dynamic stop Loss.

How the entry level will be determined?

Enter Start Price, Stop Loss & Limit of the first trade. The second will be the same apart from no limit. When the Limit is triggered and the first trade cancelled, the second trade will be allowed to run but with the Stop Loss being moved to the initial Start Price level.

Hope that's clear enough for you.

Your request is added to the development list under Id Number 4035

Thanks, Apprentice. I forgot to mention that all the trades are placed as Entries using the Contingent Order.

Try this version.
viewtopic.php?f=31&t=65704

Apprentice wrote:Try this version.
viewtopic.php?f=31&t=65704

Unfortunately, that doesn't work the way I need. I'll go into more depth:

First trade A: Entry Sell/Buy, Limit & Stop Loss both 1R.
First Trade B: Contingent Order, Entry set at two different points. Stop Loss at 1R between the two trades, Limits 2R above and below Entries.
Second Trade: On both when the Limit is reached I need the Stop Loss automatically moved to 1R from the original Limit location and set to Dynamic. So in essence on the first trade, the Stop Loss is moved to the original Entry Location and on the second trade, it is moved halfway between the Entry and Limit locations.

This is being used on two types of system but I find it very effective on both. I will save time and duplication of effort on entering the trades and would also mean that I don't miss the Limit trigger and thus mean that if triggered it can't be a losing trade.

Hope you can help with this.

Your request is added to the development list under Id Number 4045

Set up two entry trades,
Enter Start Price, Stop Loss & Limit of the first trade.
First Trade A, with Stop/Limit at 1R

First Trade B: Contingent Order, Entry set at two different points. Stop Loss at 1R between the two trades, Limits 2R above and below Entries.

between the two trades

Which two trades?

one with Stop Loss and Limit,
second the same without the Limit.
When the Limit is hit, the second trade Stop Loss is moved to the original Entry Price
Dynamic stop Loss will be used for second trade.

How R is calculated?

Can you provide a detailed step-by-step instructions.
Via graphics probably.

From my team

First trade A: Entry Sell/Buy, Limit & Stop Loss both 1R.

Two entry order or just one? One of them is buy and one is sell? At what levels? Limit for one of them is 1R and the stop for another 1R? Or something else?

First Trade B: Contingent Order, Entry set at two different points. Stop Loss at 1R between the two trades, Limits 2R above and below Entries.

What entry points? Stop Loss at 1R? Or between two trades (A and B or two trades from the first trade A)? Limits 2R above and below Entries? how is that?