Ladder in and out of positions
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Hello everybody,
I was wondering if somebody could guide me through this money management process.
I’m looking to enter a position with a very small position size to limit risk of being stopped out. But I’d like to add to my position as it moves towards take profit and reduce my position to its original small size as it nears break even. Regardless my stop loss will lose the same amount.
Any help greatly appreciated!
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@lrswatson any ideas?
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@lrswatson Do you mean opening new trades as proce is in your direction? fxDreema can open new trades by using the pink 'add to volume' block.
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@l-andorrà hello and thanks for your response. yes I intend to buy with 0.01 lots with breakeven at 10 pips then when price hits 12 pips add 0.1, the add 0.1 again at 24 pips. All the time maintaining the breakeven. Would I have to create new trades each time I add volume or can I just modify the order?
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https://fxdreema.com/shared/tjeyGxwad
this is what I have so far...
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@lrswatson I recommend you to disconnect blocks 47 fropm block 13. You need that part of teh EA to be independent. Then you should substitute block 13 by a 'for each trade' block. Finally you will need a pink 'once per trade' block between both 'add to volume' blocks.
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@l-andorrà thank you!
