Nothing is supposed to appear on your charts silly! 
Dude. your entire post is dead on. How I break up my orders to spread risk over most of a price level, to maximize my order triggering, minimizing the odds of a loss, without increasing my net risk is a very large factor in my success. (in all my trading but my short term scalping style trades)
People would be amazed how effective some thought, and a split up order, can be. iām talking larger areas of potential price reversals can be captured, for no additional risk, and yet the same (or even superior) reward.
this concept, IMO, is often better than any sort of āconfrmationā one can derive from PA and volume.
Jay
You put it in your experts folder, then load it as an expert advisor, you should see the name in the upper right corner with a smiley face, if its a frowny face then you need enable advisors. Then, press F7 to load the properties of it and set the settings accordingly.
Tech savvy is not not on my resume. You should know that by now, Clark! In fact, ever since I loaded your megaupload things have become a little weird around here. Basically every time I loaded up the template a crash report came up and my Alpari UK account shut down. Anyway, I am back up and running now, but things are still strange. My indicators list no longer appears, and the only sign of the Partial close EA is a line of text in the EA section of Terminal. Where do you enter order# and the parameters for the EA?
Lmao, if you every need help, just Skype me and I can fix up your MT4 for you.
TicketNumber -> Enter your order #
PipsTarget_1 -> How many pips to go into profit before it scales out or adjusts SL
CloseLotsPercentage_1 -> Choose the % of your trade to exit at PipsTarget_1
Move_SL_1 -> Moves the SL to however many pips in profit. (1 = BE+1)
And you can do that 4 times, hence the numbers. If you donāt need them, just enter ā0ā (zero)
Regards,
Clark
Well I started on babypips, so Iāll finish here. Hopefully some others can learn from my incompetence and your expertise!
Partial Close goes in the experts folder and then you select āNavigatorā (folder with star) from the middle top of the screen. There you can select Partial Close and drag it into the chart. Then click F7 and put in your parameters. If the face is still not smiling you havenāt enabled the EA. If it is still not smiling after that you havenāt enable āLive Tradingā.
Once you have entered the parameters do you have to press āLoadā or āSaveā or is it fine just to press āOKā?
When entering your order on the platform do you just enter the order as a limit/manually, and also enter you SL at Xpips? You donāt need to enter any TP information because the EA will take over and action that itself?
Regards
You can enter the market in any way, if pending you can put the order # in right away and wait, if by market order you just enter the # after you enter. Enter your own SL on your trade yourself and I would set your final TP as the TP (just in case something goes wrong). After that just click OK
Thanks, Wade. Do you need to enter the second pip target in the EA if you are entering it on the platform? (Or the third pip target when broken into three parts?)
Regards
I would just in case
Hi all,
Traded again the NYO this morning.
I was not able to catch the Rail road track in the GU. I was biting my finger on this one.
So I found an OTE in the EU.
1- 1h, 4h & daily was down
2- OTE triggered on a bullish candle
3- Looking for short. Continuation of the London trend direction
Profit objective was to retest the low made earlier.
I was very tight in my money management due to the News release. So, I was stop out and catch 10 pips profit. I secured this 10 pips as soon as the bearish candle 3536 level.
The thing I had in mind was the News release from this morning. I did not knew how the market would react to it.
Does anyoneās of you do not trade when there are big news release? How do you deal with this?
Good thing I moved my stop !!!
Cheers,
Hypotheticalā¦how would I set this up for the parametersā¦
I enter a trade. I want to take 30% off at a 30 pip profit and move s/l to break even.
I want to take another 20% off at 50 pip profit.
And the remaining 50% at 100 pips.
I get how to enter the first stanzaā¦
PipsTarget_1 -> 30
CloseLotsPercentage_1 -> 30
Move_SL_1 -> 0
For the 2nd stanzeā¦my PipsTarget_2 -> 50
What do I make the CloseLotsPercentage? Do I enter 20 as it was 20% of the initial trade? Or do I need to figure out what 20% of my initial trade if and enter a percentage of the remaining open portion. (I.E. after taking 30% outā¦to get 20% of the initial trade, that would be 28% (approx) of whatās left.
Iām kinda thinking the latter (28% in my example) because the default values have ā100ā for the last stanza which would imply your last scale out should have 100% to close it out.
This would work great for 1 or 2 stanzas. If you want a little more scaling out over 3 or 4 stanzas, it would require a little mathā¦Do I have this right?
What I have learned today - patience! - - When you (me) think you have the patience, and are comfortable with the amount of trades you (me) are making, and are in my case, beginning to breakeven or a little better per month (well for 2 months now) - a word of advice to you (me) S L O W DOWN! - - and be even MORE PATIENT.
I made two trades between yesterday and today - and up to this point, I was sitting at 6+% for the month - I knew they were both good trades - going to be winners- but they both were NOT in my SPECIFIC plan - more of a ok lets try this, as it is valid set up for most plans - - -
The second trade was and even better setup - but because I needed to get to j- 0 - b - I set stops a little tighter than normal - and TP a little sooner - - ā AND again not to my SPECIFIC plan.
loser
loser
And then . . . this is when I learned it - ā checking charts online at work - (donāt tell the boss) - MY SPECIFIC ENTRY shows up - would have netted 50 pips on 1/2 and then set to B.E. on other half with who knows what might happen?
and so I could have set pending order(s) - and instead of losing 2-3% - would have gained nearly 2% - with 1/2 position still open.
lesson learned - I shoot for 1 to 2 trades per week - - why o why did i feel the need to do this? never again I tell ya.
just a note to boost me up - - yes, I miss the majority of good/great trades, but it is OK.
yes, I miss some really large moves, even with my specific set up , but it is OK.
yes, someone else made a sh1t ton of money here, but it is OK.
there may be better trading plans than mine, but it is OK (as mine so far is promising) maybe not in the long run, but until I prove it wrong - iāll keep going.
I will get there, just slower than most, I will get there soon enough.
NOW STICK TO THE PLAN. cause someday - you will make that trade that does net you a thousand bucks imagine how youāll feel on that day!
And a last question on the partial pip close EA (wellā¦maybe not lastā¦but another question).
I did a small trade to test the EA (entered a 20 pip bounce off the 1.3500 figure)ā¦it hit my profit target and closed 30% like I had it setup to. When it closed the 30% portion, this doesnāt show up in my āaccount historyā section of the terminal. I manually closed out the entire trade to see if it would show up thenā¦but it didnāt. I did a 5 lot entry. closed 30% at 20 pips. Which left 3.5 lots in the trade. When I closed the 3.5 lots manually, the 1.5 lots closed by the EA is nowhere to be found.
Am I missing something?
Did you enter any other trades after that trade? What could have happened is that itās hidden above your most recent trade. Trades are arranged in chronological order by entry time and date, so if you entered into a trade afterwards, the bottom one you see is the most recently entered and not exitted.
Regards,
Clark
If anyone is still having troubles with the Partial Close EA cracked and given out by hellogoodbye4201, hereās the official IBFX website, where, if you scroll down is a little YouTube instructional video.
Hope this can clarify its use better, just wish I would have remembered it earlier.
Forex Trading Tools - Partial Close EA - Interbank FX
Edit: Sorry for double postingā¦ =/
Regards,
Clark
Plz do not tell me Iām crazy, I cant find which video it was but I really hope the London Open tactic is being posted tonight, been looking forward to it.
So iām having issues with the partial close EA. Iāve watched the video a few times and Iām doing everything like it says. But is seems like no matter where I put my move_SL_1 to, it just closes the entire trade whenever the Pips Target_1 is reachedā¦any ideas? Thanks
Matty
I hadnāt even thought about putting in multiple orders with the same entry price & stop loss but with different profit targets, that alone is a great piece of advice!
I have the same issue with patience on the longer term trades, and at this point I donāt think that they are for me. Even when I tell myself that the trade will take more time to mature I end up watching every pip and finding reasons why I shouldnāt be in the trade and exiting early.
My main goal is to begin waking up consistently for the NYO kill zone. I can do a good amount of analysis before I go to bed, then just wake up to see where price is and take a trade if it sets itself up for me. I could consistently trade the LO without too much effort, but to be honest I really havenāt had very good luck in that kill zone. Waiting for a high or low to be made within the first 5 hours of trading (based on midnight eastern time) seems like such an excellent way to boost probabilities on your side of the trade.
Unfortunately I am using Oanda as my broker so I doubt the IBFX crack would work. I really like the sound of the partial close option though, although not nearly as easy as using that tool, I think I will be able to manage quite well now with the idea AK gave about just placing multiple orders with different targets.
EDIT: I went forward and read the next page after your reply 
I have been entering my orders on Oandaās FXTrade platform and using Thinkorswimās platform for charting. I am on a Mac at the moment, but ordered Windows 7 which I will be installing in the next day or two so that I can get back on MT4 and be on the same page as everyone here.