Hello, i’m fairly new to forex trading but I have developed a system that I have been testing on a demo account, it works great.
I have now gone live with it for my first week, and it has made a good profit, however I feel that the profit could have been much more had it not secumb to what I feel was stoploss hunting by my broker.
Is there any way of createing an EA using the MQL4 programing to automatically close a trade at a given stoploss so I dont have to watch it all the time, and so the broker cant see it?
Unless you are at some mickey mouse brokerage it’s highly doubful they are purposely stop hunting just your trades. The thing about stop losses is that most people with half a brain will end up putting them all around the same place, something logical like just past a resistance point that hasn’t been broken. So, if you place a stop based on something logical you can bet their a bunch of other traders with stops in the same place.
Other traders know this. If anyone is, “stop hunting,” it’s the other traders who have opposing view of your current position.
How are you placing your entry? Are you standing in front of train and trying to jump on, from the front, as it passes? If you are, it’s more likely you’ll get hit. Place entry after price has moved past your price and stop loss. Then the trade will trigger as price reverses. At this point your SL and entry price have already been hit twice, so it’s less likely they will reverse on it again before you realize some profit. This of course is a way to place entries on retraces of a trend.