In a perfect world I would like this to be a script that I could assign a hotkey to, but I'm not sure a script is capable of what I want it to do.
I'd like to manually trade a chart and time an initial entry into the beginning of a run of X amount of pips. I'll give an example in terms of pips so it's easy to understand.
I enter long in a trade. My TP is 50 and SL is 10. Price moves up 10 pips and now I want to add to my position. I add another lot to my long order, but now have a TP of 40 and SL of 10. I move the INITIAL orders SL to breakeven, which is the same price as the 2nd orders 10 pip SL.
Price moves another 10 pips and I want to add to my position again. I add some more lots to my position with a TP of 30 and SL of 10. I move the SL for the first two positions to the new SL of this third position.
I'd like this type of sequence to continue for somewhere around 5-7 levels. All of the positions would close at the same ending TP.
Any questions?
So do I need a script or can this type of function only be accomplished with an EA? Is there anything like this already out there and built for me to use?
Thanks,
Matt
I'd like to manually trade a chart and time an initial entry into the beginning of a run of X amount of pips. I'll give an example in terms of pips so it's easy to understand.
I enter long in a trade. My TP is 50 and SL is 10. Price moves up 10 pips and now I want to add to my position. I add another lot to my long order, but now have a TP of 40 and SL of 10. I move the INITIAL orders SL to breakeven, which is the same price as the 2nd orders 10 pip SL.
Price moves another 10 pips and I want to add to my position again. I add some more lots to my position with a TP of 30 and SL of 10. I move the SL for the first two positions to the new SL of this third position.
I'd like this type of sequence to continue for somewhere around 5-7 levels. All of the positions would close at the same ending TP.
Any questions?
So do I need a script or can this type of function only be accomplished with an EA? Is there anything like this already out there and built for me to use?
Thanks,
Matt