Entry_Stop@Profit

We usually need to constantly follow more open trades in parallel without a Limit to optimize the profit
and/or without a Stop to prevent from closing immediately the position: the Entry_Stop@Profit strategy
can automatically do it for you maximizing the Profit, or minimizing losses leaving you free to study other charts.

Often the market moves too fast and doesn’t give us the time to manually put the Stop close to the Limit in place of it, so to maximize the Profit or minimize losses when the market moves favorably toward a specified Limit, instead of taking Profit closing the trade, the Entry_Stop@Profit strategy automatically put a Stop to a specified distance from the Limit assuring a Profit that, without closing the position, can continue growing with the triggered Stop (dynamic or step).

This Entry_Stop@Profit strategy is also useful when the market moves slowly and when more trades are opened in parallel eliminating the need to follow all at the same time for many hours.

From the moment a Stop is automatically triggered, it’s possible to start opening and following new positions.

As extreme-limit use, when critical-trades move for long time around a zero-profit, or before a news when it’s better to close them, the Entry_Stop@Profit strategy can automatically find the right moment for closing the positions.

This strategy can be used by all types of traders, but it is particularly useful for Scalping.

PARAMETERS

The following inputs are available in the strategy’s parameters window and can be defined by the app user:

• Profit@Price : Minimum Price to reach to set a STOP.
  • The STOP is triggered when market price reaches that specific price
• Profit in pips : Minimum Profit in pips to set a STOP, default=0 means Profit@Price.
  • The stop is triggered when you reach a profit of that specific number of pips.
• Relative Stop in pips : Distance in pips from Profit to set a STOP.
  • The distance in number of pips from your profit to set the stop once reached that profit.
• Trailing Stop: How the STOP will move with the market price once triggered
  • 0 = Fixed-Stop
  • 1 = Dynamic-Stop
  • Any value between 1 and 9 will be consider as 1 so as a Dynamic-Stop.
  • 10 or more = Step-Stop

Risk Disclaimer

The application displayed on this page does not take in to consideration your individual personal circumstances and trading objectives. Therefore it should not be considered as a personal recommendation or investment advice. Past performance is not indicative of future results. There is no guarantee that the systems, trading techniques, trading methods, and/or indicators will result in profits or not result in losses.

Requirements

This Automated Strategy is only compatible with FXCM Trading Station Desktop software. In order to purchase or download the app, an FXCM live account is required. Once downloaded, the app can be used on both live and demo FXCM accounts.

FXCM is an independent legal entity and is not affiliated with DAVIDE LEQUILE. DAVIDE LEQUILE is not an employee, agent or partner of FXCM.

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