Hello, I appreciate your patience, as I have only been trading on a demo for a few years, I have been using an excellent ATR trailing stop loss on MT5 https://www.mql5.com/en/market/produ...eview_30298757
I'm using it exactly as Roder (the creator) described as his favourite settings in his YouTube video.
The trailing stop loss is cutting 90% of the losing trades so that it's hardly anywhere near the ordinary stop loss I use for position sizing.
Question: with the occasional loss that gets somewhere close to the stop loss I have decided to try cutting half of it at a certain point just to improve the risk to reward ratio of the losses and profits in my account. This occasional loss obviously happens when the position just goes straight towards the stop loss and never goes into positives at any point. So a trailing stop loss wouldn't do it. I am searching for an EA that would close a portion of the position that goes straight towards the stop loss after a certain point. Does it exist? Is it possible to create one somehow?
Many thanks, from Mat.
I'm using it exactly as Roder (the creator) described as his favourite settings in his YouTube video.
The trailing stop loss is cutting 90% of the losing trades so that it's hardly anywhere near the ordinary stop loss I use for position sizing.
Question: with the occasional loss that gets somewhere close to the stop loss I have decided to try cutting half of it at a certain point just to improve the risk to reward ratio of the losses and profits in my account. This occasional loss obviously happens when the position just goes straight towards the stop loss and never goes into positives at any point. So a trailing stop loss wouldn't do it. I am searching for an EA that would close a portion of the position that goes straight towards the stop loss after a certain point. Does it exist? Is it possible to create one somehow?
Many thanks, from Mat.