Hi

I found an Expert that I was able to modify to automatically move the stop on a trade once a certain price has been reached. Attached.

It can be used to move your stop to breakeven once T1 has been reached.

I have tested it on demo and it appears to work correctly, but use at your own risk.

The way I use it to manage Vahid's trade signals is to open the trade as two positions, each with stop loss at the same price, one position has profit target at T1, the other has profit target at T2.

Then load the Expert onto the chart. The Expert takes 3 inputs:

OrderTicketNo: The ticket number of the order you want to move the stop on, this should be the order you have placed to exit at T2.
Target1: The price you want to have been reached before you move the stop, this would be T1
MoveStopTo: The price you want to move the stop to once Target1 has been reached, this would be your entry price if you want to move to breakeven.

Once the trade reaches T1, the position that was set to exit at T1 will exit, and the EA will move the stop on the other position to breakeven (or where ever you set).

You can set the Target1 and MoveStopTo to any values you like of course, so you can use this same EA to lock in some more profit once your trade has moved past T1 if you want to, just by changing the inputs to new values.

Hope this is useful to some other members.

Regards
Brenton

Brenton,

Thanks for the post and the file. This EA works as advertised as far as I can tell.

Gene

Hi Brenton,

Thanks!

I have not used it personally but I appreciate you generosity to share the EA for free.

that's Great

of course you need to make sure that your MT4 platform is running and your internet connection is online , am i right ?

Thank You Very Much Brenton

Regards,
Hasan

Hello Vahid and all!

I am a new subscriber for the signals, and I had been watching for a few weeks before jumping on and subscribing.

My question to Vahid is do you use EA's or scripts that manage your TP1 TP2 SL and Trailing Stop?

I have come across a free EA http://theguruonline.biz/?s=ch_pips&x=0&y=0, it is free and I have been using it quite a bit on my demo accounts and it has worked without a hitch so far.
Also, I had been considering buying a script like this http://www.forexexecutorpro.com/fep.htm?hop=stevenyap which does a few more things such as send alerts and keeps the stop loss and targets concealed so that the broker can't see them, and therefore, in theory, can't chase them.

Any feedback on the matter would be greatly appreciated.

Cheers
Yanik

Hi Yanik,

Thanks for your message. I do have some EAs that can manage the stop loss and targets for me but it is a long time that I have not used them. However, thanks for sharing this with us. I recommend you to use an EA on a demo account first and make sure that it works properly and has no problem. Then use it on your live account.

Yes. I imagine if your connection was down temporarily that when it reconnected the expert would then move the stop if required, but I cannot confirm this.

I have used this expert on a few live trades now and it has worked as expected.

Brenton

Vahid thanks for your quick reply.

I was wondering if you have found FXPro to chase your stops so far? And if so do you think there is any value in a script that hides the stops from the broker?

Cheers
Yanik

Hi Yanik,

I have a small account with FxPro. Usually brokers don't chase small positions. The look for big positions to chase. My main accounts are with two other brokers. I have asked some other traders who have bigger accounts with FxPro and they said it seems sometimes they do. However, I am not sure about it. I don't think they do because now they are so popular and they make a lot of money. They should be stupid to do it and ruin their several years of credit.