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$ distance from a current trade?

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JS17

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7 years ago #115686

How would I code a pending order that is set at a level which is a $ (money) amount from an exsiting position?

 

I basically am looking to place a hedge position at for example a £20 loss from the current trade

 

Thanks!

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tomas262

Administrator, sq-ultimate, 2 replies.

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7 years ago #139859

Yes, it can be done using Wizard. Why do you need such hedge? Do you plan to close the hedge when a position gets back into profit? I will make an example for this and upload here

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JS17

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7 years ago #139867

Tomas, Yes exactly what you say. I use a hedge instead of a stoploss.

I currently let the EA monitor open PL and then place the hedge when a target loss is hit.

The only problem with this method is that my broker cannot see this position and therefore I have no case if the slippage is too big.

 

I just don’t know how to code the pending order position

 

Many thanks again

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tomas262

Administrator, sq-ultimate, 2 replies.

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7 years ago #139938

Hello,

 

this is a simple example how you can do a simple hedge for a long position when open PL gets below 20 dollars. The EA expects the original long order to be opened with magic number = 1000. Let me know if any questions

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JS17

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7 years ago #140078

Thankyou Tomas 🙂

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yujhnlov

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7 years ago #140691

this is a simple example how you can do a simple hedge for a long position when open PL gets below 20 dollars. The EA expects the original long order to be opened with magic number = 1000. Let me know if any questions

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tomas262

Administrator, sq-ultimate, 2 replies.

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7 years ago #140720

this is a simple example how you can do a simple hedge for a long position when open PL gets below 20 dollars. The EA expects the original long order to be opened with magic number = 1000. Let me know if any questions

Hello,

 

do you have any issues attaching your file?

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