Profit & Stop loss targets for MT4 EA

#1
Hi All,

I am in a process of defining a strategy for MT4 EA. The strategy is clear for entry but for exit, I am not quite sure on setting profit Targets & Stop Losses. This EA will mostly run on 15M & 30M Time Frame for all Major forex pairs like EU,GU,EJ,UC, etc.

I am planning to have 3 ATR as stop loss and some fixed pips profit depending on pairs and timeframes.

Guidance and suggestions are welcome. Any help will be greatly appreciated.

Regards,
Mehool.
 
#3
Re: Profit & Stop loos targets for MT4 EA

I like your idea, i wish you all the success with it, hopefully you'll keep up posted on what happens next. cheers :)
 
#4
Re: Profit & Stop loos targets for MT4 EA

Hi Tamaa & Michael,

I am yet to conclude on my exit strategy. I am clear on my entry and stop loss plans but not sure on taking profits. Looking for an indicator which can help.

Even have found a good coder who can write the EA.

looking for some signs in near future.

Regards.
mehool.
 
#5
Re: Profit & Stop loos targets for MT4 EA

Hi Tamaa & Michael,

I am yet to conclude on my exit strategy. I am clear on my entry and stop loss plans but not sure on taking profits. Looking for an indicator which can help.

Even have found a good coder who can write the EA.

looking for some signs in near future.

Regards.
mehool.
hey waiting for ur mt 4 system, i hope u have done some work on dat
 
#6
Re: Profit & Stop loos targets for MT4 EA

Hey Aman,

Strategy is almost ready. Was waiting for a good exit strategy and have found few options. For exits, I will be using 4 different Systems and will be using either single or combination of them based on backtesting of individual pairs on various time frames. Exits would be :-

1. Fixed Pips
2. PSAR
3. Moving average crossover (like 5 SMA crossing 10 SMA)
4. Price hitting MA.

Anyone having any other exit strategy, please advice. I plan to finalize entire strategy by Jan end. Still doing some research on better options as getting code developed is not cheap. Hence want to be sure on what needs to be the output.

Will keep all you guys posted.

Regards,
Mehool.
 
#7
Re: Profit & Stop loos targets for MT4 EA

hello mehool,
nice work...i think u should go for the EMA cross over only as an exit strategy...
i have designed an indicator and soon converting it into an EA...hope so it will work...my indicator is working good upto now...
just check this image....
 
#8
Re: Profit & Stop loos targets for MT4 EA

Hi Malharonaldo,

What are the periods of MA Crossovers you are using. Like 10/20, 5/10,20/50, etc.

As you have tested this and doing it for manual exits. I would love to know and explore.

Regards,
Mehool.
 
#9
Re: Profit & Stop loos targets for MT4 EA

Hi,

Just to update all. My fully automated EA went live last monday. First trade fetched 75 pips, Second one 80 Pips. 2 Open trades currently with 50 & 60 pips profit currently.

Keeping fingers crossed to see the performance over the next few weeks / months.

Regards,
Mehool.