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Showing posts from December, 2018

Implementing Trailing Stop Loss in MQL4

Cut your losses early, and let your winners runs.
Trading circles Introduction This is the most common quote you'll probably hear in trading circles. Which basically means, that as soon as you open a position, you need to monitor it and make a decision against it or for it. When you move into the algotrading regime, I would modify this quote into the following one:
Cut your losses early, and let your winners run... to your trailing stop loss.
Roy Meshulam That's because you don't want to spend your time in front your PC monitoring the order. The contrary, you want to have a fully automated expert adviser that does it for you, opening and closing order according to the logic you built.

Trailing stop loss a strong utility to have. It is basically the logic to update the stop loss value and move it together with the price. So, if the price is in your favour, you move the stop loss, thus, capturing more profit. If it is against, you keep the stop loss with the same value. Hence…