@traderjosh: There was an inside bar and an indecision candle on the same chart, so i placed my sell order at market, and my buy stop order at the high of the mother bar, if the buy stop gets hit i will close out my sell order
EDIT: it should be noted that even brokers who do not offer hedging allow you to place stop orders and opposing market orders at the same time, but the stop orders will not be activated when it reaches the stop price, rather they will be deleted so you have to activate it then manually
When multiple trades are open (all Buy or all Sell) and one of them hits Half profit, half profit should be taken on the other open trades as well.
Because BreakEven should be set after taking half profit, are the SL and TP of all trades now to be moved to the values of the highest Buy (or lowest Sell) or to those of the trade that initially took half profit?
So far, I’ve got one closed trade (a sell) on EJ for 44.3 and 3 open sell trades (AJ, AJ, and AU) that are up about 95 pips. The AU still has a ways to go to reach TP, though, so we’ll see how it turns out.
first of all I wanna thank you 2 times, for creating this awesome system and being so helpfull on this thread I read the whole thing and I have to say that im very excited to start. Im demo testing it now and its insane profitable while the risk management with the new ATR is more then genious ;D.
However I still have a few questions about the S/L and the Half T/P. While you say ‘take half T/P’ @ ATR(14), does this mean you move your stop loss from ATR(14) * 0.75 to the ATR(14) when price hit that level?
For example, say I went long @ 122.60 (ATR = 50) so S/L will be set @ 122.23 and I will place a T/P order @ 123.60 full T/P (ATR * 2).
Now half T/P = 123.10, so when the price hits 123.10 I have to move my S/L from 122.23 to 123.10?
AJ is compounding on this sell…boy does that add up!..floating at $50 profit as the three pairs everybody else is selling continues towards half TP…
GJ is hanging back, if it turns into a pin bar, we’ll get to compound it’s high ATR…whoop whoop!
EDIT: had just woke up and gave wrong response I already know the answer to…anyways no new trades on this candle.
Sorry, but I do not agree. After taking Half profit, SL moves to the Openprice of the trade.
The trade needs room, setting it to the level at which you took profit does not work.
@rveryone: unfortunately I don’t have time to look through comments now but I just realized a potential problem with the break-even stop, because the difference between stop loss and half profit is so large your open positions have higher exposure, there might be a safer breakeven number, I’ll look in to it
However I still don’t get it at all. When u say TAKE half profit at ATR(14), you move the S/L to break even. Which means you didn’t took the, in the example above, 50 pips half profit right?
How can you take half profit if you’re T/P is at ATR(14) * 2 and you’re S/L is moved to break even when price hitted ATR(14)? Or you do you buy / sell 2 orders each signal?
This is just the only thing that I still don’t really get
any one have a script you can drag onto a chart that will place a buy (or sell) market order?
was thinking i could use a script to place two of the same market orders at once, then set one for half and one for full profit… without an ea to manage the half close, i sometimes miss it the half target… like now on audjpy hit my half profit but once i got to the pc it was 10pips away and heading back the other way… so i should have closed half and be at breakeven…
really need an EA handle the half profit close or be placing two trades…
checking the charts every 4hours is doable, even with work and sleeping to get around… but having to jump on to close half profits is too tricky… u could take a shower and miss ur half profits!!
I place two orders for each trade, one with TP at half TP and the other with full TP I check every hour and when I see half profit TP hit, I slide my SL to BE.
But I am trying to get mt4 to work on VPS, but I can’t get a candle close time of 00:00, it seems to be 03:00, which gives no signals on jonkie’s new indicator, or very wrong ones…anybody have suggestions? I downloaded forex.com mt4, and FXCM, and I have FinFx, too…all have same close.
Thats weird, I got FXCM and Forex.com and they both close at 2:00. I opened a EUR account. Maybe there is a time difference between EUR, GBP, USD accounts?
hello traders!
This is GBPUSD SELL TRADE
kindly look at it n tell me where the SL , TP(1/2) AND FULL TP should be , based on the ATR being talked about
it was a valid 4hrs PIN BAR
1HRS time 4 candles with the 4hrs pin bar , give a SELL signal.
4hrs PIN BAR
nice one kbforex. Please post more examples.
btw, how do you use the ATR as TP and SL? I could see the value of the recent candle ATR is 0.0022. does it mean 22 pips TP from your entry? Did I undersatnd it right. Thanks!
hi Mario777!
the issue of the ATR is question actually, yet to understand hw its is use for SL N TP
Btw, was thinking , why not just use 40 SL, AND 75 TP?
Pls those that understand this should kindly respond
thanks all
Sithjawa hop u ok?
I read the whole thing and I have to say that im very excited to start. Im demo testing it now and its insane profitable while the risk management with the new ATR is more then genious ;D.
