Dual Stop Loss, Hidden and Regular together
This tool for MetaTrader 4 is specifically engineered to streamline your trading operations. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Dual Stop Loss, Hidden and Regular together
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
Description & Settings
Usually the first thing a trader should consider when opening a new position is money management. One of the ways traders often control risk and manage their capital is to use a certain margin loss for their positions.
Many traders think that when they set a Stop Loss (or even Take Profit) for a position and enter this price in , the broker server is obliged to close their position as soon as the price reaches this limit. But in fact this is not exactly true.
It depends on the type of account you have at your broker. It is good to know that in ECN accounts, when you give a price to the broker as a Stop Loss or Take Profit, the broker closes your position in the first available price after that as soon as the price reaches this limit. If you do not agree with this, this time look at your trading history more carefully. You will see that some of your orders are closed at a price other than what you set, and you incur more losses and even more profit than you expect. This is because of SLIPPAGE.
In addition, some traders believe that the loss limit should not be accurately indicated for brokerage. The HIDDEN Stop Loss is born of such traders, and This robot is designed for exactly this purpose. From now you can have both
HIDDEN
and
REGULAR
Stop Loss
together
.
You can easily set a REGULAR Stop Loss for your positions like always. It does not matter if you use robots or trade manually.
Just run this robot on a new separate chart (any) to manage your entire positions. The input value determines the distance between the HIDDEN and REGULAR Stop Loss. Note that this value is defined by point, not pip.
