Hi,
Anyone can open an order, anyone can close an order and how you enter is possibly one of the biggest discussion threads overall in any forum.
Doesn't matter how good the system is it's only an indicator and if the market moves quickly against me any profits can get wiped out in no time (the last 3 days I've had 3 profitable + 15 pip positions all reverse). I didn't, and actually couldn't on 2 of them, get out quick enough..
Which leads me to re think and post this question as my entry is usually ok but I need to lock in the pips.
Is there a 'manage pips EA' to accomodate 3 stepping stops rather than a trailing stop.
I'm looking for something that starts with smaller risk, with bigger risk the more in profit (pips) I am.
i.e When a profit of 8 pips is reached I'd like breakeven + 1 to be set as stoploss
then
at + 20 do breakeven + 5 (so that is a 15 pip pad)
and at + 30 do BE + 15 as well
trail by 15 thereon.
I looked at a few EAs but not found anything that fits although I won't stop looking and if I find it I'll post here. If there is a programmer who can produce this I would gladly make a contribution towards development, I'm quite desperate for this, I keep getting caught out and I'd rather a tiny profit than none at all, or worse when it swings big losses.
All input or help really appreciated.
cheers